Posted Feb 24, 2010, 1:46 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,918
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http://www.crainsnewyork.com/article...TATE/100229967
Port and Silverstein meet over WTC impasse
Two weeks after the developer unveiled new proposals to end his long feud with the agency the two sides will sit down to see if anything has really changed.
Quote:
By Theresa Agovino
February 23, 2010
Two weeks ago, Larry Silverstein issued an agenda that included putting as much as $250 million of his own funds into the deal—up from an earlier offer of $50 million—and using all of his insurance money on just two towers instead of spreading it out over three.
The Port Authority of New York and New Jersey and Silverstein Properties Inc. representatives are slated to meet Tuesday to discuss the developer’s proposal for ending the feud with the agency over help financing two of Silverstein’s towers at Ground Zero.
The Port is not expected to make a counter offer but instead will drill in for more details about developer Larry Silverstein’s proposal, which it views as largely smoke and mirrors, according to sources familiar with the negotiations.
Among the details the Port wants to know is how soon Mr. Silverstein could come up with any of the funds he is pledging.
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