GVRTA’s budget is primarily earmarked to purchase service from a contractor. While GVRTA carries a reserve balance, this is predominantly available to fund emergency operating expenses and local match for capital grants. GVRTA does not normally carry a sizeable capital replacement reserve, although out of sheer necessity it should be noted that reserve funds are currently being prioritized to help with local match costs for bus purchases through 2020.
To fund the bulk of capital replacement purchases, the most likely funding sources available to assist are federal and state capital grants. Currently available are federal capital grants under Sections 5311: Formula Grants for Rural Areas and 5339: Bus and Bus Facilities federal grant programs and state capital grants under the FASTER program.
In pursuing FTA and State grant funding, GVRTA is aware there are extensive procurement procedures required to meet all federal and state requirements. In an effort to reduce staff effort, time and training, GVRTA joined a small purchasing consortium led by the Roaring Fork Transportation Authority (RFTA) to purchase 45 commuter coaches (awarded to MCI). RFTA is currently under contract with MCI, on behalf of the consortium, for the purchase of buses through the year 2020, which supports GVRTA’s current replacement strategy highlighted in the previous section. The purchasing consortium procurement method and contracting process meets all FTA requirements and was approved by CDOT prior to
finalizing.
