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.
North Side Commuter Rail Schedule Implementation Postponed posted on Nov 25
MassDOT and the MBTA announced the recently revised North Side Commuter Rail schedules will not be implemented until spring 2016. The revision of Commuter Rail schedules is a critical element of MassDOT and the MBTA’s efforts to deliver safe, reliable, on-time service to Commuter …Continue Reading North Side Commuter Rail Schedule Implementation Postponed
Travel Safely for Thanksgiving! posted on Nov 24
MassDOT encourages Thanksgiving holiday travelers to plan ahead with high traffic volume on our highways and at Boston Logan International Airport expected again this year. Highways are typically busiest on the Tuesday and Wednesday before and on the Sunday after the holiday. Heavy traffic congestion …Continue Reading Travel Safely for Thanksgiving!
Springfield: I-91 Viaduct Project Public Meeting Set posted on Nov 23
MassDOT has scheduled a Public Information Meeting for the I-91 Viaduct Rehabilitation Project as follows: Tuesday, December 8, 6:30 PM to 8:30 PM, Basketball Hall of Fame, Theater, 1000 Hall of Fame Avenue, Springfield Please join MassDOT for an update on the major construction and …Continue Reading Springfield: I-91 Viaduct Project Public Meeting Set