We are on the same page. This is pretty basic stuff for most state governments i.e. long term construction budgeting/financing. They do it all the time to build roads, bridges, etc. i.e the stuff government is supposed to be in the business of doing...
For whatever reasons the states and commission are apparently disfunctional in this regard. And yes I understand it is a bi state commission etc. but that is just one more excuse for the failure of the commission and states for 36 years now to deal effectively with this property.
This isn't rocket science. The "deal" as I understand it was the operator would pay for the operational costs from the profits of the operations (minimum of 50,000> riders and I am guessing about $2MM annual revenue)and then the states would provide the capital for track ($20MM, locomtoives $5MM, passenger equipment $2.5MM and infrastructure $3.6MM; numbers taken from the RGRPC 5 year plan)to make this all work.
So get both states to agree to underwrite an engineering and cost analysis (to verify the above numbers plus additional monies that might be needed and a contingency reserve for the unexpected that will crop up in the Rocky Mountains) Have it supervised by their respective transportation departments who hopefully have some credibility with their respective legislatures. Fund the whole thing, put it out to bid, put controls in place just like any other public works project to oversee the work. Done.
Maybe I am missing something here or maybe folks in the CO/ NM have nothing better to do than play political games with "their" 3 foot gauge train set.
One can only hope that we get some people involved that will have the political clout and long term staying power to get it done.
