WTC Memorial Fund-Raising Is Suspended
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
A nonprofit foundation has stopped trying to raise money to build the World Trade Center memorial until it can be sure how much it will cost and what it will look like, officials said yesterday.
The World Trade Center Memorial Foundation suspended fundraising several weeks ago after discussing the soaring price of the memorial, now budgeted at close to $1 billion, and its orders to cut the costs in half. “The decision was made to not actively pursue new fundraising efforts until complete clarity can be achieved with respect to the design and costs of the project,” a foundation board member, Tom Johnson, said yesterday. “It’s only fair to donors to be able to expressly say how their money will be used and how much the project will cost.”
[The foundation’s board also voted confidence in its director, Gretchen Dykstra, who has been criticized as cost-estimates have doubled.]