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.
Route 107 Corridor Public Meetings Scheduled posted on Aug 26
Public Information Meetings for the Route 107 Corridor Study have been scheduled as follows: Wednesday, September 7, 6:00 PM to 8:00 PM, Lynn English High School, Auditorium, 50 Goodridge Street Tuesday, September 13, 6:00 PM to 8:00 PM, Collins Middle School, Auditorium, 29 Highland Avenue, …Continue Reading Route 107 Corridor Public Meetings Scheduled
Gill-Montague Bridge Rehabilitation Celebrated posted on Aug 25
MassDOT Secretary and CEO Stephanie Pollack and Highway Administrator Thomas J. Tinlin joined Director of Governor Charlie Baker’s Western Massachusetts Office Michael Knapik, Senate President Stanley C. Rosenberg, state and local officials today in Turners Falls to celebrate the complete rehabilitation of the Avenue A …Continue Reading Gill-Montague Bridge Rehabilitation Celebrated
All Electronic Tolling Coming: How to Sign Up for EZPass posted on Aug 24
In late October, MassDOT is scheduled to activate All Electronic Tolling on I-90 and the Boston tunnels. All Electronic Tolling has been in place for vehicles since July 2014 on the Tobin Bridge. To ensure drivers pay the lowest possible toll rate inside Massachusetts, drivers …Continue Reading All Electronic Tolling Coming: How to Sign Up for EZPass