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Old September 9th, 2009, 10:15 PM   #101
spotila
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what do we know gentlemen, regarding 2 and 3 wtc?
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Old September 22nd, 2009, 06:22 AM   #102
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According to Wired NY forum, their is a new render up along the WTC site in 2WTC's corner showing this tower now in "stump" form. 3WTC's render has not changed (yet?). Hopefully will have pictures soon to confirm it.

A couple possibilities is that Silverstein has given up on the tower with the credit crisis being what it is and no tenants looking for office space. Or he's trying to get a negative reaction from the public and hopefully get the PA to go all in with him and backstop this tower.
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Old September 22nd, 2009, 03:10 PM   #103
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How much money did Americans give after 9/11? I remember the figure in Billions? Where did all that money go? Wasn't there a 'rebuild the WTC' fund? How much government money went to the rebuild?

I found this too:
Federal Government Giving $700 Million Less in 9/11 Aid - Oct 22, 2002
Remember that $21.4 billion in federal aid New York was promised after the Sept. 11 attacks? Well, subtract about $700 million. It was quietly taken off the books by the White House and Congress in recent months.

http://www.gothamgazette.com/rebuild...nce/feds.shtml

Interesting to re-read the things that were going on 1 year after the attacks.
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Old September 23rd, 2009, 01:29 AM   #104
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Billions for rebuilding were made available in Liberty Bonds. But I'm sure much of it has already been spent on cleanup and restoring the PATH lines. Long before actual work on the towers and memorial began.
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Old September 23rd, 2009, 08:37 PM   #105
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as nyguy posted @SSP:
Quote:
It's not a matter of if the towers would all get built, but when.
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Old October 11th, 2009, 03:08 PM   #106
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any updates from the places where will be constraction???
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Old December 3rd, 2009, 08:29 PM   #107
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This Looks Good

This was originally posted on the wtc 1 thread by Onn


Liberty Bonds by Christmas?
N.Y. Agency Plans $2.6 Billion Deal
Thursday, December 3, 2009
By Ted Phillips

The Liberty Development Corp. plans to market $2.59 billion of tax-exempt Liberty Bonds before Christmas for development at the World Trade Center site in order to meet a year-end deadline.

The bonds will be sold to partially finance construction of three office towers with 6.2 million square feet of office space that Silverstein Properties Inc. plans to build on the site.

Due to delays and legal wrangling at the site, the bond proceeds will be put into escrow because the proceeds can’t be used right away for construction.

Following the Sept. 11, 2001, terrorist attacks, Congress created the Liberty Bond program, which authorized $8 billion of private-activity bonds to revitalize Lower Manhattan. The program, which was extended once before, expires on Dec. 31. New York City and New York State officials have sought an extension of the program through Congress, but with no guarantee that an extension would happen, the LDC, which is a subsidiary of the Empire State Development Corp., decided to meet the deadline.

The LDC plans to market the bonds the week of either Dec. 14 or Dec. 21. The bonds are still subject to a public hearing and require approval from Gov. David Paterson and Mayor Michael Bloomberg, which is expected.

Goldman, Sachs & Co. is underwriter. Winston & Strawn LLP is bond counsel.

Silverstein, which holds a lease to the site, is in arbitration proceedings with the Port Authority of New York and New Jersey, the site’s owner. The developer has sought greater public financial support for the office towers due to the delays at the site and the economic downturn, but the Port Authority and Paterson were unwilling to give Larry Silverstein, the company’s owner, everything he wanted. Closing arguments in the arbitration are scheduled for this month.

The Port Authority was allocated $700 million of Liberty Bonds to be issued by the New York City Industrial Development Agency for the development of the Freedom Tower, but it is unlikely that those bonds will be issued by the end of the year.

Spokesman Steve Coleman said the authority wants to get an extension on the Liberty Bonds and would not comment on the “hypothetical situation” of issuing the bonds before the end of the year.
http://www.bondbuyer.com/issues/118_...1004549-1.html
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Old December 4th, 2009, 03:14 AM   #108
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about damn time let get it built let's get started right now
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Old December 4th, 2009, 09:05 AM   #109
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the building is 1358 feet with 78 floors
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Old December 6th, 2009, 08:10 AM   #110
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1,350 feet 79 floors but there just number. Its about getting it built
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Old December 6th, 2009, 03:38 PM   #111
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Why are they going for bonds to finace the project?
Don't the banks have the confidence to do it?
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Old December 6th, 2009, 07:51 PM   #112
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Yes, but what I don't get is why Silverstein wasn't going for the bonds earlier if he knew he could get a piece of the pie. The bonds seem like the most painless way to get this done, why did he take the Port Authority to court instead of pursing the bonds? Something sounds fishy to me...I hope it's not. But this whole thing has been totally unexpected, we have not heard anything about the Liberty Bonds in years, as far as I can remember.
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Old December 6th, 2009, 08:20 PM   #113
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The bonds haven't just been used for WTC development. They were being used by other developers in lower manhattan. Beekman was funded by them, and also 123 Washington if memory serves.

It does seem fishy. I think the most likely explanation is that their was some quid pro quo. Silverstein gets money from the Liberty Bonds, and the PA doesn't have to give back the billions they received from them.

I can't wait for the arbitration announcement. That should shed more light on things. Could be this week or the following.
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Old December 6th, 2009, 08:37 PM   #114
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I guess all we can do is hope for the best, at the very least we have two towers rising on the site now. It's just without Tower 2 I think the site is going to look all wrong, lopsided. Someone has to put up the money to fund it.
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Old December 6th, 2009, 09:17 PM   #115
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Quote:
Originally Posted by dnobsemajdnob View Post
With the bonds, Tower 2, which is the best one in my opinion, is funded. Only Rogers' Tower 3 remains unfunded.
If they had to cut a tower, Tower 3 would be the one simply because of it's location on the site. I would very much like to have all three, but you have to work with the reality of the times. For Tower 3 there is only hope.
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Old December 7th, 2009, 04:45 PM   #116
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Quote:
Originally Posted by dnobsemajdnob View Post
I agree. If he loses the arbitration, Silverstein plans to continue now with Towers 1,2 and 4. 1 and 4 are largely pre-leased to city, state and federal entities. A retail podium will be built for T3. However, as I much prefer T2, I'm fine with that.
Silverstein has nothing to do with Tower 1.
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Old December 7th, 2009, 07:56 PM   #117
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this tower simply has to be built, it's my favourite one! i think it's even more beautiful than the FT. they should have make 2WTC as the new FT and increase the height, would be more pleasing. 2WTC certainly has a great designe, i hope constrcution starts soon. the old man must win!
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Old December 7th, 2009, 08:45 PM   #118
HK999
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Quote:
Originally Posted by dnobsemajdnob View Post
He doesn't need to win the arbitration in order to get the money for 2WTC. He has it now with the bonds. He needs to win in order to get the money for 3WTC which I could live without anyway.
i know that, but the WTC complex needs tower 3, it wouldn't look complete without it imo.

EDIT: look at this beauty! tower 3 is also cool. i think tower 4 would be the one i could live without it.

from SSP:
image hosted on flickr





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Last edited by HK999; December 7th, 2009 at 08:50 PM.
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Old December 7th, 2009, 09:37 PM   #119
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I understand that the funding is now in place, but is there anyone here who knows when foundation work can start? It shouldn't take too long as the design was finalized more than a year ago. Has a contractor been named?
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Old December 7th, 2009, 10:02 PM   #120
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Quote:
Originally Posted by dnobsemajdnob View Post
I believe that the foundation is done and is ready for the tower to rise.
If by foundation you mean the area is ready for construction of the basement levels then yes, but there is currently nothing in place at the Tower 2 site.
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