The Yampa Valley Regional Transportation Authority continues to make progress on becoming a reality for community members and the local workforce as its board works toward solidifying an operational structure. 

At the RTA’s latest meeting on Monday, Feb. 23, the authority voted to financially partner with Bank of Colorado, dug deeper into potential funding opportunities and adopted organizational bylaws. 

The main goal of the RTA — the formation of which was approved by voters valleywide in November — is to improve bus service between communities, add new local routes and make public transportation more reliable and accessible for residents, workers and visitors, with a top objective being the introduction of fixed-route bus service on Colorado Highway 131 between Steamboat, Oak Creek and Yampa. 

Plans also include establishing a new local circulator bus route within Craig, ground transportation options to and from the Yampa Valley Regional Airport and creating park-and-ride lots for commuters accessing both the U.S. Highway 40 bus route and other new routes.

Potential funding through Clean Transit Enterprise

The meeting opened with a brief presentation from Craig Secrest, executive director of the Colorado Department of Transportation’s Clean Transit Enterprise, about new opportunities for state-level funding that could help launch regional transit service. 

The enterprise, created in 2021 through Senate Bill 21-260 and expanded under Senate Bill 24-230, distributes revenue generated by state fees on retail deliveries and oil and gas production to support cleaner, more efficient transportation across Colorado.

Secrest explained that roughly $37 to $38 million will be available statewide in fiscal year 2026 through a formula-based program that supports existing transit agencies, which is expected to grow to as much as $80 million annually in subsequent years. 

A smaller, discretionary pot — expected to total about $5.5 million in fiscal year 2026 — will help fund projects like the RTA as it gets established, or expand multimodal transit options.

“I think you’re definitely sort of eligible for funding,” said Secrest, who added that a notice of funding availability could be released within two to three months. 

The discretionary program could help the RTA contract bus service or purchase vehicles to begin operations while using other revenue sources, such as funding pledged by the Steamboat Ski & Resort Corp., to build out its administrative framework.

“What I could see is the first year or two, you’re using this discretionary program to get yourselves up and running,” explained Secrest. “Once you have a year of operations, then we can graduate you into the formula program, and then you’re getting more consistent, sustainable funding each year.” 

Because CTE operates as a state enterprise, all spending must directly contribute to greenhouse gas reduction, he added. 

Secrest recommended that the RTA pursue a “scalable” application — one with components that can be partially funded — to increase its chance of receiving an award during the first funding round.

“I do have a consultant on board that’s there to help agencies with applications, and it’s on my dime, not yours,” said Secrest. “So if you guys need some help with that … I can just authorize them to work with you.” 

Secrest also noted the impending public release of a state study on best practices for regional transportation authorities, which he said can provide further guidance for the RTA’s initial efforts. 

Choosing a banking partner

On Feb. 11, the authority released a request for proposals for a financial institution to partner with the RTA so that it can receive its first promised payment from Steamboat Ski & Resort Corp. and expedite the process of hiring an executive director. 

After initially committing to a $1 million-per-year, 20-year contribution to the RTA, Ski Corp. scaled back its pledge in August to $1 million-per-year for three years. 

For now, Ski Corp.’s contribution is intended largely to support formation and administrative efforts that are critical to address before the board can get the ball rolling on front-line transit services. 

In the request for proposals, officials said the RTA is seeking a partner that “prioritizes strong financial security, fraud prevention, reliable technology, transparent pricing and responsive customer service,” noting that the institution must meet all state and federal requirements for managing public funds. 

The request was advertised through both the town of Hayden’s website and online public bidding platforms, with a submission deadline of Feb. 20. 

At Monday’s meeting, RTA Secretary and Hayden Town Manager Mathew Mendisco said that he had received proposals from Mountain Valley Bank, Bank of Colorado and Wells Fargo. 

The board members generally agreed that all three banks met the requirements of the authority’s request and that Mountain Valley Bank was potentially too small to meet the organization’s needs. 

Oak Creek Mayor Melissa Dobbins, representing the town of Oak Creek on the board, advocated to axe Wells Fargo from consideration, noting its national scope and her own negative personal experiences with the institution. 

“Who’s the board comfortable with establishing? 
Because banking is a relationship,” said Mendisco. “You want to know you can call the rep if you’re having an issue, and you want to know they’re going to be responsive — and that, I think, more than anything, is important.”

“My experience has been that (Wells Fargo) is constrained by the national nature of the bank in terms of sometimes not fully understanding,” said Chair Sonja Macys, representing unincorporated Routt County on the board. “So I think there is a bit of an out-of-syncness between the local people on the ground who really are great to work with, and what they can do.”

Macys added that Alpine Bank did not have time to submit a proposal by the deadline but that they had also expressed interest in partnering with the RTA. 

The board ultimately agreed that Bank of Colorado was the Goldilocks fit — not too big, not too small — and unanimously approved the institution as the RTA’s financial partner. 

A brief discussion took place around communications and public relations infrastructure for the RTA — or the lack thereof. 

Steamboat Springs City Councilor John Agosta, representing Steamboat on the board, noted ongoing challenges associated with the authority not yet having an official website or dedicated digital space where the public can view meeting recordings and RTA documents to stay informed. Mendisco admitted that the only way the public currently can view past meetings or access documents, without that online platform, is through a public records request.

The next RTA meeting is set for 4 p.m. Monday, March 23.