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PA ready to turn land over to Silverstein

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The Port Authority of New York and New Jersey, which owns the World Trade Center site, announced today that it will be ready to turn land over to developer Larry Silverstein once a retaining wall on the site has been moved in four to eight weeks. The Port Authority has had to pay a $300,000-per-day penalty to Silverstein for missing the deadlines set in Silverstein’s lease. The Port Authority and Silverstein have been in the middle of a dispute about financing for the office towers Silverstein plans to build.

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