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.
MassDOT Announces Quaboag Connector Van Service Pilot posted on Mar 28
MassDOT announced today that a new “Quaboag Connector” van transportation service is available for residents in the Quaboag Valley region which includes the towns of Belchertown, Brookfield, Hardwick, Monson, Palmer, Ware, Warren and West Brookfield. The curb-to-curb service has begun as a 12-month pilot that …Continue Reading MassDOT Announces Quaboag Connector Van Service Pilot
Aeronautics: Baker-Polito Administration Awards Funding to Minute Man Air Field posted on Mar 28
The Baker-Polito Administration’s Department of Transportation (MassDOT) has announced an award of $850,000 to Minute Man Air Field in Stow for a project to make necessary repairs and reconstruction improvements. MassDOT Aeronautics Administrator Jeffrey DeCarlo joined State Representative Kate Hogan, elected and local officials, municipal …Continue Reading Aeronautics: Baker-Polito Administration Awards Funding to Minute Man Air Field
Worcester: Belmont Street Bridge Opens posted on Mar 23
MassDOT has announced that the Belmont Street Bridge that carries Route 9 over Interstate 290 in Worcester is now open to its permanent configuration. The bridge now features two eastbound lanes toward Shrewsbury, two westbound lanes toward Lincoln Square and a newly-added, left-turn lane through …Continue Reading Worcester: Belmont Street Bridge Opens