PA still late on WTC 2 site

September 26, 2008 07:47AM

The Port Authority could miss a September deadline to hand over the
site for Tower 2 at the World Trade Center to developer Larry
Silverstein, after missing the June 30 deadline the two parties had
originally agreed upon. The agency incurs a $300,000 penalty every day
it fails to turn the land over, and its bill — which so far totals
$14.4 million — will breach $30 million if a September deadline is
missed. A spokesperson for the agency, however, claims it plans to turn
the site over by the end of the month.