Keighley College will discover next week whether government cash is available for its planned new £23 million campus.
The Learning and Skills Council will reveal whether it will provide the bulk of funding for a purpose-built complex next to the railway station.
The proposed five-storey building in Dalton Lane would provide a range of high-tech and traditional courses for around 14,000 students.
David Gates, the college principal (pictured), will travel to London next Thursday to meet bosses of the Learning and Skills Council.
The council, which has already expressed support for the project in principle, will reveal whether money will be provided.
The college would be expected to raise several million pounds itself by selling its current Cavendish Street buildings.
The new campus would be near the Bradford Road junction, on the site of Keighley College's disused Dalton Lane annex.
The complex would have shops, leisure and conference facilities, a large car park, bus terminus and direct access to the railway station.
Keighley Bus Museum Trust plans to build a £1.7 million museum next to the new college so the public can see its collection of 50-plus historic vehicles.
The trust's detailed funding application will be sent to the Heritage Lottery Fund within the next few days.
Bradford Council hopes the college and bus museum will form the centrepiece of a regeneration of the Dalton Lane area.
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