The way it usually goes...
Phase one: The bike is abandoned (normally, no one knows why), and almost all removable parts are stolen.
Phase two: As even more parts are swiped, the city tags it with a florescent-yellow sticker saying it will be removed.
Phase three: Soon, the city (or some local jerk with a hacksaw) will make it theirs for scrap metal (or a new bike for restaurant deliveries).
Phase four: All is forgotten.