Portland is preparing to launch a bike share program by next summer.

According to the Portland Press Herald, the city has selected Tandem Mobility, a national company headquartered in Michigan.

Under the bike share program, the company is aiming to make 200 traditional and electric-assist bicycles available throughout the city no later than June of 2022.

The program, which won’t use city funding, would be backed by corporate sponsors and fundraising efforts, through which Tandem hopes to raise $200,000.

The bikes would cost $1 to unlock, with an additional charge of 15 cents per minute for pedal bikes and 25 cents per minute for electric-assisted bikes, though the company says those rates aren’t final. Riders would use an app on their phone to pay for each ride.