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Deep split in Port Authority over WTC tower

Local News | Apr 24, 2014

Deep split in Port Authority over WTC tower

NEW YORK (AP) — A discussion over the future of the 3 World Trade Center tower has exposed deep rifts among board members of the Port Authority of New York and New Jersey.

The discussion at Wednesday’s monthly board meeting followed an update in which Port Authority executive director Pat Foye briefed the board on negotiations with developer Larry Silverstein.

The Port Authority has come under criticism for proposing to commit more than $1 billion as a loan guarantee to complete the project.

While some board members registered support for the potential deal, board member Kenneth Lipper called it “obscene” and “a scandalous over-reach into the public cookie jar.” Lipper contends the Port Authority shouldn’t use money taken from bridge and tunnel toll payers and airport users to fund a project by a private developer.