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.
Travel Safely Memorial Day Weekend! posted on May 20
MassDOT encourages travelers to plan ahead and travel safely during the Memorial Day holiday weekend. The heaviest traffic is expected Thursday, Friday, and Monday afternoons and early evenings. Drivers are encouraged to make travel plans accordingly and if possible avoid peak traffic volumes between 1pm …Continue Reading Travel Safely Memorial Day Weekend!
Weekend Commuter Boat Trips Return May 23! posted on May 19
MassDOT Secretary & CEO Stephanie Pollack has announced that weekend commuter boat service will be provided for a second year between Hingham, Hull, Georges Island, Grape Island and Boston. Weekend service begins Memorial Day weekend and will continue through the Labor Day weekend. “Commuter boat …Continue Reading Weekend Commuter Boat Trips Return May 23!
CapeFLYER Free Sunday, Monday for Veterans, Active Service Members posted on May 18
CapeFLYER is pleased to announce that for the second year, veterans and active service members may ride the train to Cape Cod for free on the Sunday and Monday of Memorial Day weekend. The CapeFLYER has coordinated with Cape Cod Cares for the Troops, which …Continue Reading CapeFLYER Free Sunday, Monday for Veterans, Active Service Members