Facing deadline, Port Authority and developer tell arbitrators they’re continuing WTC talks
By APFriday, March 12, 2010
Port Authority, developer continue WTC talks
NEW YORK — Both sides negotiating a new completion plan for the World Trade Center site say they’re continuing to talk despite a deadline.
Developer Larry Silverstein and the Port Authority of New York and New Jersey said in a statement Friday that they are continuing to negotiate.
Both sides say they’ve given an update to the arbitration panel that set Friday’s deadline.
They say that after “substantial discussions,” they “have made progress toward resolving the issues surrounding the eastern portion of the World Trade Center site.”
The building of planned towers at that part of the site has stalled in a dispute over financing. Silverstein wants more public money to build the towers, but the authority says it’s better to delay construction on two of the towers until the real estate market improves.
