Port Authority won’t vote on 3 W.T.C. deal

[hrmjustin]

Ryan Hutchins

The Port Authority of New York and New Jersey will not vote today on a controversial arrangement that would double the public subsidy to developer Larry Silverstein's long-stalled 3 World Trade Center.

The agency said it will abandon its work to restructure the deal and will try to bring in a third party to find a better way to arrange for the construction capital needed to build the tower, said Anthony Hayes, a spokesman for the Port. Such an arrangement would be a “hybrid,” he said, designed to reduce the risk to the P.A.

“We believe there is a path forward with this public-private partnership,” Hayes said.

But Silverstein said he and his associates were taken aback by the decision to not vote today.

http://www.capitalnewyork.com/article/real-estate/2014/05/8546129/port-authority-wont-vote-3-wtc-deal?top-featured-2

[liberal N proud]

1. But Silverstein needs the money!

And it is a smart and patriotic move!

Skeptical?

[hrmjustin]

2. I still have not forgiven him and the state for building the monstrosity that is wtc 1 now.

Very skeptical.