Port Authority To Hand Over Land At WTC Site
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The Port Authority will soon be handing over land at the World Trade Center site to developer Larry Silverstein.
The move means they will no longer have to pay hundreds of thousands of dollars in penalties.
The agency says over the next eight weeks it will be moving parts of a retaining wall that was put in place while excavation work for towers one and two was completed.
Another wall will be built by the former Deutsche bank building so excavation can begin on that part of the site.
As soon as these two steps are taken, work on the planned towers will be able to move forward.
Every day the Port Authority delays, it pays Silverstein $300,000.