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.
Governor Patrick Celebrates Beverly Commuter Rail Parking posted on Aug 1
Governor Deval Patrick today joined state and local officials, residents and business owners to celebrate the opening of the new Beverly Commuter Rail parking garage. The garage will be open for customers beginning at the start of commuter rail service tomorrow, Saturday, August 2. “When …Continue Reading Governor Patrick Celebrates Beverly Commuter Rail Parking
Boston-Everett: Alford Street Bridge Opens posted on Aug 1
MassDOT Highway Administrator Frank DePaola today joined state and local officials to announce the Route 99 Alford Street Bridge over the Mystic River connecting Charleston and Everett is now open and operating at full capacity. The $56.1 million project included rehabilitation of the structural, mechanical …Continue Reading Boston-Everett: Alford Street Bridge Opens
NHTSA Safety Reminder: Never Leave a Child Alone in a Car posted on Jul 31
The National Highway Traffic Safety Administration and partners today are raising awareness about heatstroke, one of the leading causes of death among children. The NHTSA says at least 17 children have already died this year from vehicular heatstroke. Heatstroke is the leading cause of non-crash …Continue Reading NHTSA Safety Reminder: Never Leave a Child Alone in a Car