The City of Montreal has announced that the Bixi bike-sharing service will ride again in 2015.

Bixi Montreal, the not-for-profit group that took over the service this year, held a news conference Sunday to discuss the results of its do-or-die 2014 season and revealed it would need $2.9 million from the City of Montreal for the next five years to keep the service running.

They revealed occasional ridership and active membership numbers were down compared to numbers from last year and the year before.

But Coderre commended the work the board did this season to show the program can work well.

He also confirmed the city will contribute the $2.9 million the board asked for.

It was also announced that Bixi will also partner up with the STM, but just how that partnership will work is not yet clear.

The city recently approved a $5-million budget to get the program through its 2014 season.

At the time, Mayor Denis Coderre said it was “out of the question” for the city to spend more money on the service.

In late January of this year, the Public Bike System Company, Bixi’s previous owners, filed for bankruptcy protection and asked the city to take over the service. The company had $47 million of debt.

Two years ago, the city loaned Bixi $37 million, with $71 million in loan guarantees.