Hammersmith’s Boris Bikes to be funded by developers

The extension of the Cycle Hire scheme to LB Hammersmith & Fulham may well be funded by developers, accordong to reports.

The Fulham Chronicle reports Transport for London and H&F Council are advanced in planning the roll-out of the cycle hire scheme in 2013. TfL has told the council it will have to pay £2m to fund the expansion by 2015.

A council report suggests the money will be raised by charging developers. “The most appropriate source of funding is from developers,” says the report. “Officers have been negotiating with developers on the provision of funding for the cycle hire scheme since the extension was mooted by TfL in the summer of 2011.”

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