301 million dollars for 101km of infrastructure is cheap compared to building highways [0]. The price of the usual infrastructure is a burden on everyone as well, not just car owners.
You shouldn't have to force anyone to choose any particular mode of transport. I think people choose what is most convenient and that happens to be cycling in urban areas where there is safe infrastructure for it.
Your question reads pretty weird to me; building cycling infrastructure makes a city more ideal for cyclists, that's exactly the point. I didn't read it yet, but I found a paper that seems interesting and in the direction of your question. [1]
[0]https://www.worldhighways.com/news/european-highway-construc... [1]https://economics.acadiau.ca/tl_files/sites/economics/resour...