Definitely need a good amount of support for infrastructure. Otherwise, as everyone else seems to agree, it will all just fall apart. Have you thought of a library system where people can rent out bikes so as they some sort of liability for the treatment of the bicycles, as well as the bikes returning and what not? I also agree that community involvement is key, so someone/a group of people would have to be in charge of these "free" bikes and there needs to be a storage facility as well as a place where maintenance can happen. Always keep in mind of how/where things will be 10 years down the road. Sustainability is key! Good luck! I think whatever it is could be a really great project for your community. I think that right now it's just missing a couple of key steps.