Washcycle carries the WABA press release:

The bike valets will be located on the south side of the Jefferson Memorial and on 16th Street NW between I Street and K Streets NW.  Both will be open from 7am to 5pm.  In case of extreme weather, the valets will be closed, but the unattended bike parking racks will still be available for use.

“Bike valets are very similar to car valets,” said Henry Mesias, project manager at WABA. “You simply ride up to the valet, a volunteer will attach one half of a claim ticket to your bike and hand you the other half.  The volunteer will then park the bike in a safe enclosure while you head off to enjoy the inauguration.  When you want to leave, you show us your half of the claim check and we get you your bike and you ride off.  It’s quite simple.”  Mr. Mesias says that the association is prepared to park well over 1000 bikes.

More details at Washcycle.