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.
MBTA: Weekend Service on 3 Commuter Rail Lines Begins December 27 posted on Dec 19
The restoration of weekend Commuter Rail service on three lines will begin next Saturday, December 27. The Kingston/Plymouth and Greenbush lines will see the return of Saturday and Sunday service and the Needham Line will resume Saturday service after a two year absence. “MassDOT is …Continue Reading MBTA: Weekend Service on 3 Commuter Rail Lines Begins December 27
Fairhaven Bike Train Program Recognized posted on Dec 18
The Town of Fairhaven was recognized alongside the Massachusetts Safe Routes to School (SRTS) Program by Cape Cod’s NPR station, WCAI, for their bike train program. A bike train is a fun way for elementary and middle school students to get to school while being …Continue Reading Fairhaven Bike Train Program Recognized
South Station Expansion: DEIR Comment Period Through December 24 posted on Dec 17
Posted by: Matthew Ciborowski, South Station Project Manager, MassDOT Office of Transportation Planning I was pleased to meet with more than 60 people who participated in an Open House and Hearing on the Draft Environmental Impact Report (DEIR) for the South Station Expansion project on …Continue Reading South Station Expansion: DEIR Comment Period Through December 24