The accord announced on Thursday by the Port Authority of New York and New Jersey and developer Larry Silverstein confirms a financing framework for the project at the Ground Zero site in downtown Manhattan.
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The vast project has been repeatedly stalled by lawsuits, clashes over design and security as well as disputes among state and local politicians over how much public money to grant Silverstein during a real estate decline.
The deal “will make certain the entire site is rebuilt while sharing the risk among all stakeholders in a way that protects our limited resources,” said Port Authority Executive Director Chris Ward in a statement.
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