Thursday, March 16, 2006

The Battle For Ground Zero, Part 106

Absolutely disgraceful. There's no other way to put it. Gov. Pataki ought to be ashamed of the way he and his advisors have handled the rebuilding at Ground Zero. And now they're taking potshots at Silverstein because talks between the two sides failed to reach an agreement by yesterday's self-imposed deadline.

That throws the entire rebuilding process of the office towers at the complex in doubt.

If Pataki wants to know why we're still looking at a mostly empty pit at Ground Zero, look in the mirror. He forced the Port Authority to accept the Libeskind master plan, which included putting the Freedom Tower at what many now consider the least desirable location for the office towers. The Church Avenue corridor towers, which are on the most desirable locations are the sites that will likely be constructed last, despite the fact that those locations would cut off the rest of the site as construction progresses and the transit hub and memorial are built.

It makes no sense, but some want to push the blame on Silverstein, who has only tried to get the buildings rebuilt. He's the only one out of the entire group who has actually rebuilt any permanent structures at the site. Yet, that's exactly what Gargano and Pataki has done - despite the fact that the two sides weren't that far apart:
Both sides agree that the framework was in place for a deal that gave Silverstein the rights to develop buildings 2, 3 and 4 - the most commercially desirable - while the PA took over the Freedom Tower and a proposed fifth tower. The PA would also get about $1 billion of the $2.6 billion insurance payout Silverstein received from the destruction of the towers.

Gargano told The Post's Steve Cuozzo that Silverstein's pre-midnight demand was for more of the insurance money if his construction costs went up - but no added insurance money if the PA's construction tab zoomed. Gargano also said Silverstein wanted double the $350 million rent reduction offered by the Port Authority.

Silverstein's rent on the 16-acre parcel will hit $125 million a year on July 1. The lease lasts 99 years. Lieber said, "There was probably a 3 percent difference between the parties."
Meanwhile, the state is able to come up with $125 million to build a gondola connecting lower Manhattan with Governor's Island, which would open up the island to development and economic opportunities. Considering that the reason Lower Manhattan needs serious economic assistance is because of the destruction of the WTC complex, the state must find a way to get this deal done with Silverstein.

The NY Post editorial page comments and supports Silverstein in his battle with Pataki. Incurious George. The Gothamist also notes the descent of this battle into a war of words.

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