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.
RMV: New Boston Branch Location, Low Number Lottery Drawing posted on Aug 28
MassDOT Registrar of Motor Vehicles Celia J. Blue announced the annual low number license plate lottery drawing will be held on September 10 at the RMV’s soon-to-open new Boston branch, Haymarket Center at 136 Blackstone Street. “As we move our operations to a new Boston …Continue Reading RMV: New Boston Branch Location, Low Number Lottery Drawing
Labor Day Weekend Travel: Plan Ahead! posted on Aug 27
MassDOT encourages motorists to plan ahead for safe travel during the upcoming Labor Day holiday weekend. Heaviest Labor Day traffic on I-90 is expected Thursday and Friday westbound and Monday afternoon-evening eastbound. The number of toll transactions on the Turnpike from Weston to the New …Continue Reading Labor Day Weekend Travel: Plan Ahead!
Boston: I-90 Construction Update posted on Aug 26
MassDOT contractors in August and September continue the preparation work to improve the median and Commonwealth Avenue Bridge substructure on Interstate 90 in Boston. The left lanes in both Eastbound and Westbound directions on I-90 from west of the Prudential tunnel to the Commonwealth Avenue …Continue Reading Boston: I-90 Construction Update