Friday, October 19, 2012

Port Authority of NY and NJ will get $8B back for work done for other agencies at Ground Zero site

The Port Authority of New York and New Jersey will be reimbursed almost $8 billion for work done for other agencies at the World Trade Center site, according to agency officials.

"We expect $7.83 billion back; of that we have a firm commitment for 90 percent of it," said Anthony Hayes on behalf of the port authority. Of that amount, $4.75 billion has been received so far, he stated.

Reimbursement means the Port Authority is responsible for less than $7 billion of the $14.8 billion Trade Center redevelopment project.

Work performed on behalf of third parties at the Trade Center site includes work for the 9/11 Museum and Memorial, the New York Police Department and the Metropolitan Transportation Authority.

For more of the Asbury Park Press story: app.com

More Newswire stories

Port of Oakland Board reacts to misuse of public funds allegations, puts Executive Director Omar Benjamin on leave

PNW grain managers and ILWU to resume talks October 29

Jacksonville new stop on SC Line trade route to Latin America

First China-to-Russia container line route

Today's Cargo News Archives

Click to browse past stories on these topics:

Logistics

Ports & Infrastructure

Economic Outlook

Environmental Impact

Technology