NEW YORK CITY-The Port Authority has officially settled its financing agreement with the developer Larry Silverstein for the development of 4 World Trade Center. Under the agreement, the developer will place $1.3 billion in Liberty Bonds for the tower that amounts to $1.8 billion.
Silverstein is expecting to place the tax-exempt bonds in mid-December. The conversion of bonds into a construction loan will make 4 WTC to rise rapidly to 64 stories. The PA will occupy nearly 800,000 square feet at the tower.For the full story, go to New York Post.
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