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Port Authority to Revisit Role in 3 WTC Rebuilding

Port Authority to Revisit Role in 3 WTC Rebuilding
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World Trade Center financing showdown at Port Authority today

A month after a vote was delayed, the Port Authority of New York and New Jersey is scheduled to revisit the issue of what role it will play in the rebuilding of the long-delayed 3 World Trade Center tower.

The bistate agency holds its monthly board meeting Wednesday.

On the agenda is a presentation by executive director Pat Foye on the trade center rebuilding. The Port Authority is considering guaranteeing a loan of more than $1 billion for developer Larry Silverstein to help complete the project.

Last month Port Authority board members were deeply split over what role the agency should have, and whether it should be involved in what one member called a speculative real estate project.