MBTA
MBTA, along with state and local leaders, will celebrate Massachusetts 250 on Patriots’ Day weekend (April 19-20), marking the 250th anniversary of the start of the American Revolution. Events over the weekend and through the month of April will range from parades to colonial faires, musters and battle reenactments.
MBTA will offer special services to and from Arlington, Lexington, Concord, and Lincoln, among other towns, on April 19-20. There will be a special Commuter Rail schedule for April 19; additional trains will be added to the regular Fitchburg Line, which serves towns such as Lincoln and Concord, to accommodate increased ridership. Bus service will be adjusted to meet demands on April 19-20. Multiple bus routes serve Arlington on weekends, including Routes 62/76, 77, 78, 80, 87, 95, and 350; extra service will operate between Lexington Center and Alewife on Route 62/76 via Arlington on April 19.
“The Healey-Driscoll administration joins with all Americans who are proud to be observing our country’s independence and celebrating the patriots who put our country on a path to creating equal opportunity for everyone,” Massachusetts Transportation Secretary and CEO Monica Tibbits-Nutt said. “One of our core values at MassDOT is creating opportunity for all, and we demonstrate that by taking steps to create a transportation system which gives everyone access to education, places of business, houses of worship, health centers, fulfilling jobs, and community and civic spaces. The richness of our country and the commonwealth is its people, and our decision-making exemplifies that we will not leave anyone behind.”
“The commonwealth has a rich history, and Massachusetts 250 is just one of many proud opportunities to celebrate our past and the significant contributions we have made that shape the future,” commented MBTA General Manager and CEO Phillip Eng. “These celebrations and events make Massachusetts the great place it is to live, work and visit. Delivering a safe and robust transportation network for the public that we serve is an honor.”
MARTA
MARTA on Feb. 13 announced that its Board of Directors approved a resolution to execute financial transactions that will “generate substantial savings and increase the Authority’s liquidity by hundreds of millions of dollars.” MARTA will refund $148 million of its series 2020B and 2021D bonds, resulting in $8.2 million in net present value savings on future interest costs, according to the transit agency that provides rapid transit, bus and lift van services. The Board also authorized the issuance of a new money bond with a par value of $328 million, resulting in the Authority receiving $350 million in funds due to market conditions.
Recognizing the volatility in the financial markets, MARTA said it was able “to leverage its strong financial positioning and high AAA credit ratings to achieve favorable borrowing conditions.”
“This transaction allows MARTA to achieve significant savings on borrowing costs while securing the necessary funding to support our operational and capital needs,” MARTA General Manager and CEO Collie Greenwood reported. “We appreciate the prudent judgement of our Board.”
“This is yet another example of MARTA’s fiscal discipline and responsible stewardship translating into tangible results for our transit system and residents of the metropolitan Atlanta area,” added MARTA Board of Directors Chair Jennifer Ide.
MARTA said it executed this transaction with support from PFM Financial Advisors, and a legal team from Holland & Knight LLP, Kutak Rock LLP, and Townsend & Lockett LLC. Following a review of several proposals from multiple financial institutions, it said it selected Wells Fargo to lead the transaction.
Separately, MARTA recently unveiled its first CQ400 train from Stadler and awarded Stadler Signaling North America a $500 million contract to equip its rapid transit network with Stadler’s NOVA Pro CBTC (communications-based train control) technology.
BCT
BCT will hold public meetings on Feb. 19 (in-person) and Feb. 20 (virtual) regarding the 15.5-mile Broward Commuter Rail North project, which is slated to operate along the Florida East Coast Railway corridor between Fort Lauderdale and Deerfield Beach, Fla. (see map, right). Attendees will be able to review project elements, including proposed stations, and share their feedback. Proposed station locations include Downtown Fort Lauderdale, Oakland Park, Pompano Beach, and Deerfield Beach.
“The Broward Commuter Rail North project is a landmark achievement for Broward County, our first dedicated commuter rail,” said Coree Cuff Lonergan, CEO/General Manager of BCT, which provides fixed route bus, express, community shuttles and paratransit services. “This initiative reflects our commitment to fostering sustainable growth and providing innovative solutions to reduce traffic congestion [on major roadways like I-95 and US-1] and ultimately improve the quality of life for commuters. We invite community members to participate in these meetings to learn more about the project and share their valuable input.”
According to BCT, the next step for the project is selecting the Locally Preferred Alternative, which is expected to be confirmed by winter 2025. Then a Project Development and Environmental Study will be conducted.
The Broward Commuter Rail North project is part of the larger Broward Commuter Rail initiative that will connect communities from Miami-Dade to Palm Beach County. Together, Broward Commuter Rail North and South “form a cohesive framework for regional integration, offering a reliable, efficient and affordable transit solution that strengthens connections across the region,” BCT reported.
