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.
Whittier Bridge/I-95 Project Traffic Update posted on Sep 19
Work on the Whittier Bridge/I-95 Project in Newburyport and Amesbury will require extended lane closure hours beginning next week. Beginning on Monday, September 22, the hours of daytime construction will extend the I-95 Northbound right lane closure the associated right lane closure on I-95 Northbound …Continue Reading Whittier Bridge/I-95 Project Traffic Update
Take the Clean Air Challenge! Join Us September 22-26 posted on Sep 18
Massachusetts travelers will improve air-quality by choosing more sustainable transportation options during the Massachusetts Clean Air Challenge (formerly Car-Free Week). This year, Massachusetts challenges you to explore your commuting options and Shift Your Mode from September 22nd-26th. By trying greener modes including carpooling, vanpooling, bicycling, …Continue Reading Take the Clean Air Challenge! Join Us September 22-26
MBTA Silver Line to Chelsea Approved posted on Sep 17
The MassDOT Board of Directors today approved a construction contract to extend the MBTA’s increasingly popular Silver Line from East Boston to Chelsea. A project funded entirely by Governor Deval Patrick’s 2013 Transportation Finance Plan, the Silver Line will be extended past the Seaport to …Continue Reading MBTA Silver Line to Chelsea Approved