LOUISVILLE, Ky. (WDRB) -- There's a new way to get around on two wheels in Louisville.

A bike sharing program called LouVelo was announced Thursday morning. It begins with more than 300 bikes positioned at 25 stations around town. Riders can pick up a bike at one station and return it to another.

Louisville Mayor Greg Fischer was on hand for the ribbon-cutting ceremony. 

"With all the development going on downtown and in our edge neighborhoods, we have a lot of people moving downtown who either want to downsize from two cars to one car, or no car at all," Fischer said. "So, it's important that we have all these different options for people to get around."

The city of Louisville owns LouVelo, and has contracted with a company called CycleHop to operate it. 

Riders can buy bike-share passes or make a deposit when they check out a bike.

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