Port Authority, Silverstein near deal on WTC towers

03/25/2010 | New York Times (tiered subscription model), The

The Port Authority of New York and New Jersey and developer Larry Silverstein are nearing an agreement that could resolve a dispute that has stalled work on the World Trade Center site in Manhattan for 16 months. Silverstein has the right to build three towers but has been unable to get a loan or lock in corporate tenants, given the down economy. The Port Authority would finance one of the office buildings -- where the Port Authority and the city would rent space -- under the tentative agreement.

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