Port Authority will miss WTC deadline

The Port Authority will miss its Jan. 1 deadline to hand over the
development sites for the World Trade Center Towers 3 and 4 to
developer Larry Silverstein, whose lease on the land begins tomorrow.
The Port Authority will shell out $300,000 per day past the deadline,
which will amount to about $12 million by the time the sites are ready,
in two to four weeks (Silverstein leases the site from for about
$215,000 a day). Janno Lieber, director of World Trade Center
Development for the Silverstein organization, said in a statement: “We
appreciate how much the Port Authority has accomplished this year, and
a few extra weeks to complete everything is a minor bump in the road in
the context of this entire project.”