Goldman’s golden WTC deal getting re-negotiated

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The city and state are working with Goldman Sachs to
re-negotiate the investment bank’s deal to get about $320 million if road,
transit and security improvements weren’t in place by 2010. With all of those
projects behind schedule, government officials are trying to find out Goldman’s
main concerns and avoid the steep penalties. When the deal was negotiated in
2005, the firm wanted a new transit hub, roadwork on West Street and a ferry
landing at the end of Vesey Street all done by the end of 2009. Goldman is
building a $2.4 billion, 43-story headquarters on Vesey Street. It received $1.65 billion
in tax-free Liberty Bonds and $115 million in tax breaks and cash grants.

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