Downtown Victoria’s free bike valet service in Centennial Square next to city hall has been extended until April.
Originally scheduled to end on Dec. 23, the bicycle-parking service has been given a reprieve until spring as council continues to deliberate on its future and how it will be funded.
According to the city, the service has hosted about 37,000 bikes in the past 10 months.
Coun. Matt Dell is a strong supporter of the bike valet, arguing that the service is an economic net benefit for Victoria and its downtown.
“It’s saving money on police, saving money on roads, injecting money into our restaurants and businesses downtown,” he said.
“That’s 37,000 cars off the road, 37,000 possible parking spaces that are freed up for other shoppers … that’s freeing up VicPD resources, so that Victoria police are not trying to track down stolen bikes and they’re focusing on other issues.”
The draft operating budget outlining Victoria’s 2024 proposed property tax increase has allocated 0.18 percentage points of its planned 8.47 per cent tax increase to fund bike valet operations, which averages out to about $5 a year per household.
The service is the third-lowest ticket item listed in the proposed tax increase, only coming above increases for Canada Day celebrations and the city’s music strategy grant.
Council is considering other measures to help fund the bike valet service, including corporate sponsorships and user fees.
The service cost the city $260,000 this year, using up the last of the $500,000 federally sourced fund that Victoria council set aside in 2021 to help improve secure bike parking in the city.
The service is currently open on weekdays from 7:30 a.m. to 8 p.m., Saturdays from 10 a.m. to 8 p.m. and Sundays from 10 a.m. to 5 p.m.
Starting in January, operating hours will be shortened Monday through Thursday, closing at 6 p.m.
Bikes left after operating hours are impounded with police and are subject to a $20 retrieval fee, according to the bike valet website.
