Toronto has reversed itself on the Centre Island bicycle concession after the new contractor bailed out of a deal to run the service. Now the City will return the concession to the Rao family, which has operated the bike rental for years but which had been told it was outbid by the other offer. “(It’s) just overwhelming. It feels like we went to the pits of the roller coaster and now I feel like we’re on another high,” Priya Rao told the Star. Her parents have co-owned the Toronto Island Bicycle Rental for the past 32 years.