(Editor's note: The following information was submitted by the office of state
The Senate on Tuesday unanimously passed a $1.39 billion bond bill to fund existing transportation improvement projects through Fiscal Year 2013, including roadway projects in Tewksbury.
“The bond bill includes $2,500,000 for the reconstruction and improvement of Route 38 from Old Boston Road to Livingston Street,” said “This project has been a high priority for Tewksbury since Main Street is home to many of the retail businesses in town,” he said.
Additionally, $2,000,000 was approved for necessary environmental reviews for the Lowell Interchange project on I-93. “This is a huge development plan that would bring millions of dollars to the area. It is my hope the Governor approves both allotments quickly.”
Earlier this session, the Senate approved millions in Chapter 90 funding, which is a 100-percent reimbursement program that entitles municipalities to be reimbursed for documented and approved projects. “This bond bill is another way to provide more construction jobs and to strengthen our infrastructure,” Finegold added.
Finegold said that transportation improvement projects are not only beneficial for safety reasons but also for economic growth. “An effective transportation system is inextricably tied to the local economy, and we need to continue to make investments to further support our transportation infrastructure,” he said.
The Senate bill authorizes the state to borrow $683 million for existing projects, ensuring that state dollars will be available to leverage federal funding for a total of $1.39 billion.
The Senate bill and the House bill will go to a conference committee to produce a compromise bill for final passage and consideration of the Governor.