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.
Video: Toll Plaza Demolition, Reconstruction Shown Step by Step posted on Oct 26
On October 28, I-90 (The Massachusetts Turnpike) will transition to All Electronic Tolling, and MassDOT will begin demolishing the existing toll plazas and reconstructing the roadways. The following is a visualization of what drivers can expect to see as they travel through an existing toll …Continue Reading Video: Toll Plaza Demolition, Reconstruction Shown Step by Step
Cementing the Future of the Braga Bridge posted on Oct 25
When MassDOT undertakes a bridge and highway restoration project, such as the Route 79/Braga Bridge Improvements Project, it aims to make efficient and long-lasting choices of materials. Materials are meticulously evaluated and chosen to ensure lower maintenance costs and an improved service life. For the …Continue Reading Cementing the Future of the Braga Bridge
All Electronic Tolling Activated October 28, Toll Plaza Demolitions Begin This Weekend posted on Oct 24
MassDOT today hosted a news conference and media tour in Weston to inform the public that plans are on schedule to activate All Electronic Tolling (AET) in the state on Friday, October 28, at 10 p.m., and to immediately deploy equipment to begin the process …Continue Reading All Electronic Tolling Activated October 28, Toll Plaza Demolitions Begin This Weekend