Once again, delays are factoring in heavily in rebuilding. The Port Authority missed a deadline to hand the site for Tower 3 and 4 over to Silverstein Properties today, which means Silverstein will collect $300,000 per day until the site is in deliverable condition. It's expected to take another 4-6 weeks to have the site in proper condition.
The Port Authority had contracted to provide infrastructure preparation and bathtub construction to Silverstein, but the contractor hired by the Port Authority is about a month behind schedule. The Port Authority hopes to collect $10 million in penalties from Phoenix Contractors for missing the deadline.
Still, construction at Ground Zero is moving forward, and structural steel is going to begin rising on the site of the Freedom Tower in 1Q 2008.
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