News Source: 
Seattle Times
April 3, 2014

After weathering a sponsorship drought and the bankruptcy of a bicycle vendor, the new Puget Sound Bike Share should be ready to hit the streets by late summer, its director says.

The opening phase will cover Seattle Children’s hospital, the University of Washington, the University District, Eastlake, Capitol Hill, South Lake Union, downtown and the central waterfront with 500 bicycles at 50 roadside stations. Customers can subscribe online or use a credit card to rent the shared-use bicycles from a kiosk, similar to using the city’s parking pay stations.

Holly Houser , executive director, said Thursday new sponsors will soon be announced, and her nonprofit will meet its $4.4 million startup budget. Previously the group was awarded a $1 million grant from the U.S. government, $750,000 from the Washington State Department of Transportation and $500,000 from Seattle Children’s. Operations contractor Alta, based in Portland, is replacing a Montreal-based bicycle vendor that sank into debt .

The startup will be a few months late. Puget Sound Bike Share earlier announced it would launch this spring, after the City Council voted last September to allow stations on city property