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Massachusetts governor seeks more bonds for transit and transportation

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Massachusetts governor seeks more bonds for transit and transportation


Massachusetts Governor Maura T. Healey’s $56.1 billion budget proposal for fiscal 2025 calls for increased funding to the state’s Commonwealth Transportation Fund that will enable it to borrow an additional $1.1 billion over the next five years.

The fiscal 2025 budget proposal, which represents a 2.9% increase over the current year’s spending, would dedicate $250 million of transportation revenues from the Fair Share income tax surtax enacted in 2022 directly into the CTF, “unlocking the capacity to borrow an additional $1.1 billion for capital projects” at the Department of Transportation and the Massachusetts Bay Transit Authority over the next five years, according to the governor’s executive summary of the budget proposal.

Additional borrowing enabled by dedicated Fair Share revenue would be used in fiscal 2025 “to immediately invest an additional $300 million” to help fund the MBTA’s track improvement plan, the governor’s proposal said. The Boston area’s public transit provider has been wracked by high-profile safety problems.

Massachusetts Gov. Maura Healey announces her fiscal 2025 budget recommendation at a State House press conference on Jan. 24, 2024.

Joshua Qualls/Governor’s Press Office

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According to the budget message, which was announced on January 24, $250 million will be earmarked for additional debt service for the CTF. The funds would come from the state’s Fair Share income tax surtax that was approved by Massachusetts voters in November 2022. That measure imposes a 4% surtax on incomes above $1 million that is expected to generate over $2 billion annually to fund education, repairs and maintenance of roads and bridges, and improve public transit.

All told, the governor’s 2025 proposed budget would include $1.3 billion from the new levy, up from $1 billion in the current fiscal year’s budget.

If approved, $63 million of the $250 million of Fair Share transportation revenues would be reserved for debt service on additional CTF bonds. Of the remaining $187 million, $127 million would be used to double the MBTA’s operating subsidy to $256 million while $60 million would be used to support MassDOT operations, including customer service at the state’s Registry of Motor Vehicles agency. The MBTA also receives $1.5 billion from a portion of the state’s sales tax revenue.

In April 2022 the Federal Transit Authority launched a safety management inspection of the MBTA following several high-profile accidents. Following the inspection, it reprimanded the MBTA, the country’s oldest and fifth-largest transit system, for “compromising” safety by favoring its capital program over safety, mainly by taking the “unprecedented step” of transferring $500 million from its general fund into its capital budget in January 2022. The FTA said MBTA appeared to have prioritized new-build projects over preventative maintenance.

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The federal agency ordered the MBTA and its state oversight agency, the Department of Public Utilities, to take immediate action to improve safety across the system. The FTA said the MBTA “lacks resources to adequately manage its $2 billion capital program and complete capital projects on time and without need for retrofits and workarounds.”

According to the governor’s budget proposal, “additional capital borrowing capacity, leveraged from Fair Share revenues, will help the MBTA improve safety, service, and sustainability.”

Fair Share investments will also allow MassDOT to “continue investments in critical bridge infrastructure and keep Massachusetts roadway construction crews engaged and on the job,” the budget documents said.

Increased operating funding will also help the MBTA to continue improving safety, reliability and service, the proposal said.

The budget recommendation also includes $169 million for operating assistance to 15 regional transit authorities across the state, including $75 million from Fair Share revenues.

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MBTA senior sales tax bonds are rated AAA by Fitch Ratings and Kroll Bond Rating Agency and AA-plus by S&P Global Ratings.

Massachusetts Commonwealth Transportation Fund revenue bonds are rated AAA by Kroll and S&P, and Aa1 by Moody’s Investors Service.



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Massachusetts

Corcoran Group lands in Massachusetts with new franchise

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Corcoran Group lands in Massachusetts with new franchise


The Boston-headquartered franchise dubbed “Corcoran Property Advisors” is led by brokers-owners Brian Dougherty and Nick Robert who have backgrounds that span hospitality, sales, luxury and design. The firm also has an office in Cohasset.

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The Corcoran Group has launched its first franchise in Massachusetts with the addition of Corcoran Property Advisors, the brokerage has informed Inman.

The Boston-based franchise led by brokers-owners Brian Dougherty and Nick Robert, also has a second office on the South Shore in Cohasset. The move solidifies Corcoran’s commitment to the East Coast, even as it continues to expand the Corcoran Affiliate Network across other parts of the U.S. and the rest of the globe.

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Pamela Liebman | Corcoran Group

“There has always been a strong synergy between New York City, Corcoran’s first market, and the greater Boston area,” Corcoran Group President and CEO Pamela Liebman said in a statement. “Therefore, I couldn’t be happier to solidify that union with the launch of Corcoran Property Advisors. The team’s strong business acumen, paired with Corcoran’s tools, support and world-class brand, is sure to spur exciting growth across Boston and its luxury coastal communities.”

Dougherty and Robert bring backgrounds in luxury real estate and retail, interior design, hospitality and new development to the new affiliate.

Dougherty previously worked as a portfolio growth director for a major hospitality company and as a national sales director for a subsidiary of a multi-strategy hedge fund, as well as a partner at a luxury brokerage, before joining Compass in 2019. The two agents partnered at Compass under The Private Brokerage team, which Dougherty founded and Robert joined as executive director. In 2022, the team closed more than $72 million in transactions, making them one of the country’s top small teams in Massachusetts, according to RealTrends.

Brian Dougherty | Corcoran Property Advisors

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Before joining Compass and The Private Brokerage team, Robert held a leadership role at Restoration Hardware, overseeing visual merchandising in Boston and launching retail spaces in various markets across the U.S. Prior to The Private Brokerage team’s founding, Dougherty and Robert also partnered on renovating and managing a boutique inn on Cape Cod for a few years.

“Boston is a world-class city, not only with some of the most historic educational and cultural institutions in the world but also some of the most exciting companies in the burgeoning technology and medical industries,” Dougherty said in a statement. “These factors, paired with one of the world’s most spectacular real estate markets, is perfectly poised for us to launch and grow Corcoran Property Advisors, especially when supported by Corcoran’s talented team, proven senior leadership, best-in-class agent resources, and sophisticated yet fresh marketing.”

Nick Robert | Corcoran Property Advisors

With its rich history, natural beauty, varied cultural offerings and strong economy, Boston and Cape Cod’s real estate markets remain in demand. The city features a mix of housing from historic townhomes and modern condos to suburban homes and new developments. Meanwhile, Cape Cod boasts beachfront bungalows as well as expansive luxury estates.

“Boston is a market we have always had our eye on as a prime location for the Corcoran brand to thrive,” Stephanie Anton, president of Corcoran Affiliates, said in a statement. “Having found the right people to represent the brand with Brian and Nick, Corcoran Property Advisors is sure to see both swift and steady growth, leveraging the iconic Corcoran brand, our unique messaging and our innovative offerings across such an exciting market.”

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Stephanie Anton | Corcoran Group

Dougherty and Robert will also lead the Corcoran Property Advisors team at the new affiliate, which includes eight licensed agents at the time of publishing. With their offices in Boston and Cohasset, the team aims to grow agent count and market share across greater Boston in the foreseeable future.

Last week, Corcoran also announced its third Houston-based affiliate to date, Corcoran Genesis, which will focus on serving Houston’s suburban markets.

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Basketball Games on TV in Massachusetts: Channel Info & Live Streams – February 29

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Basketball Games on TV in Massachusetts: Channel Info & Live Streams – February 29


We’ve got 18 college basketball games to watch in Massachusetts on Thursday, February 29 — four men’s, four women’s, and 10 high school. Looking for how to watch? You’ll find that info below.

Sign up for Fubo, Max, ESPN+, and NFHS Network to make sure you don’t miss out watching a single basketball game.

Massachusetts Men’s College Basketball Games Today

Bryant Bulldogs at UMass-Lowell River Hawks

Sacred Heart Pioneers at Stonehill Skyhawks

  • TV Channel: NEC Front Row
  • Game Time: 7:00 PM ET

Northeastern Huskies at Delaware Fightin’ Blue Hens

  • TV Channel: FloHoops
  • Game Time: 7:00 PM ET

Merrimack Warriors at Fairleigh Dickinson Knights

Massachusetts Women’s College Basketball Games Today

UMass Lowell River Hawks at Bryant Bulldogs

Fairleigh Dickinson Knights at Merrimack Warriors

North Carolina Tar Heels at Boston College Eagles

Stonehill Skyhawks at Sacred Heart Pioneers

Massachusetts High School Basketball Games Today

Boys Basketball

Stream Live Game Time Location
Maimonides High School at
Lunenburg High School
Watch on NFHS Network 6:00 PM ET Lunenburg, MA
Weymouth High School at
Central Catholic High School
Watch on NFHS Network 7:00 PM ET Lawrence, MA
Ware High School at
Tahanto Regional High School
Watch on NFHS Network 7:00 PM ET Boylston, MA

Girls Basketball

Stream Live Game Time Location
King Philip Regional High School at
Central Catholic High School
Watch on NFHS Network 5:15 PM ET Lawrence, MA
Blue Hills Regional Technical High School at
Millis High School
Watch on NFHS Network 6:00 PM ET Millis, MA
Hampshire Regional High School at
Sutton High School
Watch on NFHS Network 6:00 PM ET Sutton, MA
Hamilton-Wenham Regional High School at
Easthampton High School
Watch on NFHS Network 6:00 PM ET Easthampton, MA
Belmont High School at
Bridgewater-Raynham Reg High School
Watch on NFHS Network 6:30 PM ET Bridgewater, MA
Hingham High School at
Northampton High School
Watch on NFHS Network 6:30 PM ET Northampton, MA
Arlington Catholic High School at
Apponequet Regional High School
Watch on NFHS Network 7:00 PM ET Lakeville, MA

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Massachusetts police department announces sudden passing of active duty officer

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Massachusetts police department announces sudden passing of active duty officer


A Massachusetts police department is mourning the loss of one of their own.

The Boston Police Department mourns the recent passing of active-duty Boston Police Officer Andrew O’Connor, on Tuesday, February 27, 2024.

Officer O’Connor joined the Boston Police Department on June 28, 2021, and successfully completed his training at the Boston Police Academy on January 7, 2022. Serving the people of East Boston, Officer O’Connor was assigned to District A-7 at the time of his passing.

Throughout his tenure, Officer O’Connor received commendations and praise for his unwavering dedication to duty from both the community and his colleagues.

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A cause of death was not released.



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