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NEW YORK CITY-Five months of negotiations between Silverstein Properties Inc. and the Port Authority of New York and New Jersey have culminated in a plan to provide SPI with up to $1.6 billion in public financing on the developer’s World Trade Center towers. The deal was ratified Thursday at a meeting of the Port’s board of commissioners.

Originally announced in broad outline on March 25, the agreement was to be hammered out during a 120-day period of negotiations between SPI and the Port. The late-July timeframe to complete negotiations came and went without an agreement being ratified, a delay that led to published reports speculating on whether the deal would be announced before the ninth anniversary of 9/11.

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