After nearly two weeks of negotiations, the developer of the World Trade Center site and the Port Authority of New York and New Jersey have not agreed on when his two office towers should be built. Developer Larry Silverstein is unable to secure financing to build three towers and wants the authority to provide $3.2 billion in financing. The authority, which is building its own tower, is willing to guarantee up to $1.2 billion for one building but believes the market will not support three office towers.

Related Summaries