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.
Fall River: Route 79 Braga Bridge Project Completion Overview posted on Jan 17
MassDOT invites you to review the final fact sheet for the Fall River Route 79 Braga Bridge Improvements Project. The work reached substantial completion in fall 2016 with the reopening of all lanes on the Braga Bridge. This landmark project offered significant long term enhancements: …Continue Reading Fall River: Route 79 Braga Bridge Project Completion Overview
Boston: Route 203 Project Public Meeting Set posted on Jan 13
MassDOT has scheduled a Public Information Meeting to discuss the proposed Route 203 Improvements Project from West Selden Street to Gallivan Boulevard in Boston as follows: Thursday, January 19, 6:00 PM, Mildred Avenue Middle School, Auditorium, 5 Mildred Avenue, Mattapan The purpose of this public …Continue Reading Boston: Route 203 Project Public Meeting Set
Freight Plan Public Open House Set posted on Jan 10
MassDOT’s Freight Plan is a strategic planning document that will define a short and long-term vision for the freight system in Massachusetts and identify solutions to current and future challenges to the freight system. The first Open House for the Massachusetts Freight Plan has been …Continue Reading Freight Plan Public Open House Set