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Pols push developer on ground zero

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Published: Feb. 5, 2006 at 11:55 PM

NEW YORK, Feb. 5 (UPI) -- The stage has been set for a showdown at ground zero as politicians push to get moving on the rebuilding of Lower Manhattan.

Shortly before Christmas, Gov. George Pataki gave the developer Larry A. Silverstein 90 days to work out his differences with the Port Authority over the rebuilding process, the New York Times reported.

Mayor Michael Bloomberg has called on the developer to cede two proposed buildings and a major portion of the site to the Port Authority so rebuilding can go more quickly.

A city financial analysis indicates Silverstein could exhaust his money for the project and default on his lease at the World Trade Center site in 2009, yet still walk away with $500 million.

Silverstein, however, has said he has the legal right, the will and the insurance money to do the entire project on a schedule that extends until 2017, the newspaper said.

Topics: Larry A. Silverstein, Michael Bloomberg
© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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