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.
Take the Late Night T to “Late Night Eats” October 4 posted on Oct 2
Following the successful Late Night Arts film screenings on Friday and Saturday night, September 26-27, the Massachusetts Department of Transportation (MassDOT) and MBTA today joined the City of Boston and local food and fashion vendors in announcing Late Night Eats on the Rose Fitzgerald Kennedy …Continue Reading Take the Late Night T to “Late Night Eats” October 4
Boston: I-90 Back Bay Ramps, Bowker Overpass Study Meeting posted on Oct 1
MassDOT is conducting the Massachusetts Turnpike – Boston Ramps Study. The purpose of the study is to investigate the potential for new or revised access to and from the regional express highway network using the Massachusetts Turnpike, Interstate 90, along the segment between Commonwealth Avenue …Continue Reading Boston: I-90 Back Bay Ramps, Bowker Overpass Study Meeting
Governor Patrick Announces New Commuter Rail Station in Allston posted on Sep 30
Governor Deval Patrick today joined MassDOT Secretary Richard Davey, Boston Mayor Martin Walsh and state and local officials to announce that the I-90/Massachusetts Turnpike Allston Interchange Improvements project will include a new Commuter Rail stop, with pedestrian and bike access, that will allow for increased …Continue Reading Governor Patrick Announces New Commuter Rail Station in Allston