November 4, 2009 Patrick: No MBTA fare hike planned Play video

(NECN: Boston, Mass.) - An independent review of MBTA finances finds the transportation agency has been relying on an unsuitable financing model that is compromising safety, because it cannot fund critical maintenance.

The 36-page report classifies 51 projects as "a danger to life or limb of passengers and/or employees."

The report was written by former John Hancock chief David D'Alessandro and ordered by Massachusetts Gov. Deval Patrick this summer.

Click here to read the full report.

Click here to read more from the Globe.

D'Alessandro refused to place blame on MBTA officials. He said the administration and legislative oversight committees also were aware of the authority's funding and maintenance problems.

D'Alessandro appeared alongside Gov. Patrick at a press conference this morning.

"The system is safe for riders," said Patrick. "There is a regular monitoring going on."

"There are serious challenges that we have in this system," said Patrick. "The MBTA will not seek and I will not support a fare increase for the next year or two."