Silverstein Agrees, With Conditions, To Latest WTC Rebuilding Offer

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NEW YORK (AP) – World Trade Center developer Larry Silverstein and government officials agreed Tuesday to most terms of a deal that scales back his role at the site and surrenders his job as landlord of the iconic Freedom Tower, ending four months of messy negotiations over control of ground zero.


The rewriting of Silverstein’s 99-year lease to the fallen twin towers would give the Port Authority of New York and New Jersey, which owns the site, control of two out of five planned office towers, including the 1,776-foot Freedom Tower that Silverstein has been developing. Silverstein would lease three other towers that are considered to be in more lucrative spots on the 16-acre lower Manhattan site.


Officials said the deal ensures all five planned towers would be built by 2012.


Silverstein sent a letter Tuesday to top executives at the Port Authority agreeing to accept the economic terms of its latest offer. Several hours later, New York Gov. George Pataki said he would ask the bistate agency to approve most elements of the deal at its board meeting on Wednesday.


“The plan will make certain that the rebuilt World Trade Center will anchor the financial capital of the world and make our nation proud,” Pataki said.


Silverstein said at a news conference outside his 7 World Trade Center building next to ground zero that he had some minor objections to the latest offer that could be resolved within days.


“This is about moving the rebuilding forward as quickly as possible,” Silverstein said. “All the finger-pointing must stop.”


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