Independent Panel To Review Problems At WTC SiteNov 12, 2008
An independent panel will try to work out problems between the Port Authority of New York and New Jersey and developer Larry Silverstein at the World Trade Center site.
The problems center around a multi-million dollar land turnover deal.
The Port Authority was to hand over “construction-ready” land by certain dates for Silverstein to build office towers or else pay fines.
Agency officials paid more than $40 million in late fees before handing over the land.
Silverstein claims he could not build because of a 400-foot long wall was not removed. The agency says the wall does not sit where Silverstein plans to build.
In a joint statement, the two sides say they tried to resolve their differences, but will try again with the independent panel.
Both say other construction at the site will not be affected.