The Port Authority of New York and New Jersey and developer Larry Silverstein are supposed to reach an agreement on the World Trade Center redevelopment by Thursday, but officials for both sides say the two parties remain deadlocked. Silverstein asked the Port Authority to guarantee as much as $3.2 billion in financing for the construction of two towers, but the authority, which is already spending billions of dollars on its own tower at the site, is reluctant to spend more money on speculative office buildings, especially now that revenues are declining. City officials hope for a breakthrough in the hours leading up to Thursday’s deadline.
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Little progress in WTC talks
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