World Trade Center redevelopment talks stall

Tuesday, June 16, 2009

NEW YORK -- Talks spearheaded by Mayor Michael Bloomberg to end an impasse at the World Trade Center site are still stalled.

Monday was the third deadline set by the city for a resolution to talks between the developer and owner of the site. Bloomberg called for a summit last month, then set last Thursday as a deadline, then extended talks through the weekend.

Deputy Mayor Robert Lieber said the talks will continue until a consensus is reached.

Developer Larry Silverstein and the Port Authority of New York and New Jersey have tried for months to renegotiate Silverstein's lease to build three skyscrapers at ground zero. Silverstein wants the Port Authority to guarantee over $3 billion in financing for two of his towers. The agency has said it can only afford to back one.

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