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 Freight Rail Infrastructure Grant Awards posted on Sep 27
MassDOT has announced the awarding of seven grants totaling more than $2.2 million as part of the 2016 Industrial Rail Access Program (IRAP). IRAP is a competitive state-funded public/private partnership program that provides financial assistance to eligible applicants who are prepared to invest in industry-based …Continue Reading MassDOT Announces Freight Rail Infrastructure Grant Awards
MassDOT, AAA Northeast Announce New RMV Service Location in Peabody posted on Sep 26
The Massachusetts Department of Transportation Registry of Motor Vehicles (RMV), in partnership with AAA Northeast (AAA), announced today the most recent AAA service location to offer select RMV license and registration services to AAA members. AAA members can now visit the North Shore Peabody office …Continue Reading MassDOT, AAA Northeast Announce New RMV Service Location in Peabody
MBTA: Blue Hill Avenue Station Project Public Meeting Set posted on Sep 22
The MBTA on Wednesday, October 5, will present design details, project benefits, bid date/process, construction phasing and construction schedule of its Blue Hill Avenue Station project. A public meeting has been scheduled as follows: Wednesday, October 5, 6:00 PM, Mattapan Branch Library, 1350 Blue Hill …Continue Reading MBTA: Blue Hill Avenue Station Project Public Meeting Set