About 1999, when Union Pacific filed to abandon the line, an offer of financial assistance (OFA) was made by the DRGHF. In accordance to Federal rules, they were sold the line rather than approving UP to abandoned it.
The City of Greede has filed an "adverse abandonment" petition, which basically is a third party trying to force a railroad line to be abandoned (usually because the third party wants to use the r-o-w for their own non-rr purposes). The City has already tried to claim authority over approving any use of the right-of-way and the railroad's adjoining property. They have already lost that battle because they were found to be attempting to regulate interstate commerce by doing so. Their current tact seems to be to claim that it is not a viable railroad and force the abondonment of one mile of the track inside the town limits. Considering the apparent lack of recent efforts to restore rail service on any part of the line, the City might win this arguement. Public comment is allowed, see www.stb.dot.gov - look under e-library for decisions and notices - or - use the following link for the last info posted as of Jan 5.
Surface Transportation Board - Creede abandonment