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Larry Silverstein, Port Authority to Officially Agree on Something

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The official handshake happened back in March, but it's taken the last five months for the warring Port Authority and developer Larry Silverstein to iron out all the terms of their World Trade Center financing deal. The Port Authority is expected to formally vote in favor of that deal today, the Times reports. Instead of his hoped-for three towers, Silverstein will get up to $1.6 billion for the already under construction Tower 4 and the future Tower 3.

Headlining the cast of losers here is Lord Norman Foster, whose Tower 2 has been indefinitely delayed. So will anyone walking away from the negotiating table have a spring in their step? Yes: New Jersey! The Observer reports that in exchange for the $1.6B to Silverstein, the Port Authority will have to funnel money to transportation projects in the Garden State. This could mean fewer funds for NYC projects like Moynihan Station. Maybe Lord Norm can have the Moynihan fans over for a cup of tea.
· Port Authority to Vote on Silverstein Trade Center Towers [NYT]
· In Pricey W.T.C. Deal, Some Consolation for New Jersey [NYO]
· Ground Zero Combatants Strike Deal on Two-Tower Solution [Curbed]