Governor Deval Patrick and legislative leaders announced that the Commonwealth has saved $190 million in transportation-related costs as a direct result of sweeping transportation reform signed into law one month ago.
Due to five risky financial transactions – so-called “swaptions” – entered into by the Turnpike Authority in 2001, the Authority was at direct risk of having to pay the financial institution UBS $257 million dollars immediately. The passage of transportation reform improved the Authority’s bond rating to the point of negating the need to pay $190 million of that amount.
In addition, UBS extended the July 24th deadline for payment or other resolution of the final swaption – valued at approximately $67 million – to allow for more time for the state to reach a similarly positive result.
Medford: Green Line Extension Public Meeting December 14 posted on Dec 5
The Green Line Extension Project Interim Program Management Team will host a public meeting as follows: Wednesday, December 14, 6:30 to 8:30 PM, Medford City Hall, Council Chambers, 85 George P. Hassett Drive The purpose of the meeting will be to present a general update …Continue Reading Medford: Green Line Extension Public Meeting December 14
MBTA Future: Focus40 Seeks Your Ideas posted on Dec 2
The Focus40 Street Team has been out at stops and stations around the system, collecting your ideas for the MBTA’s future. The Street Team is made up of MassDOT staff, community members, and partner organizations. We have already engaged with over 1,000 MBTA customers and …Continue Reading MBTA Future: Focus40 Seeks Your Ideas
MassDOT, MAPFRE Insurance Encourage Motorists to Prepare for Winter Driving posted on Dec 1
MassDOT and MAPFRE Insurance offer helpful tips to ensure that your vehicle is geared up for wintry road conditions: Bring your vehicle in for an inspection. Winter can involve some of the harshest conditions for your vehicle to endure, so have your vehicle checked by …Continue Reading MassDOT, MAPFRE Insurance Encourage Motorists to Prepare for Winter Driving