Area-specific weight loss is not really a doable thing. Your body determines which parts lose fat, and in what order they lose it. For us older dudes, pretty much everything else gets cuts in that line.
But, overall, the best thing to do is to ride your bike. Ride it for quick trips when you would normally drive. If you're doing weekend bike-path rides, ride to them. Grab your bike on a random Tuesday afternoon and go toodling around the neighborhood. Don't think about riding to lose fat, just ride to ride. No ride is too short. No ride is too long.
Riding bikes is fun. Even when it sucks.
--Shannon