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.
Concord: New MBTA Commuter Rail Bridge to Roll into Place This Weekend posted on Aug 28
As part of the ongoing rehabilitation of the Fitchburg Commuter Rail Line, the MBTA is replacing the old railroad bridge over Route 62/Main Street in Concord with a new bridge to be rolled into place Saturday, August 29. The current bridge has low clearance and …Continue Reading Concord: New MBTA Commuter Rail Bridge to Roll into Place This Weekend
Knowledge Corridor: New Holyoke Train Station Celebrated posted on Aug 27
Lt. Governor Karyn Polito and MassDOT Secretary and CEO Stephanie Pollack today joined Holyoke Mayor Alex Morse along with state and local officials to celebrate the opening of the new $4.3 million Holyoke Train Station on the Knowledge Corridor and restoration of Amtrak Vermonter Line …Continue Reading Knowledge Corridor: New Holyoke Train Station Celebrated
MBTA Winter Resiliency Update: Red Line, Orange Line posted on Aug 26
Beginning Saturday, August 29th, and continuing on selected weekends through the remainder of the summer, Red Line service between JFK/UMass and Quincy will be temporarily suspended to allow workers to make the subway more resilient to harsh winter weather conditions. On weekends when workers will …Continue Reading MBTA Winter Resiliency Update: Red Line, Orange Line