NY1
01/27/2010 06:35 PM
Arbitrators Call For New WTC Timetable
By: NY1 News
The rebuilding schedule at the World Trade Center site is once again up in the air.
Arbitrators have given the Port Authority, which owns the land, and developer Larry Silverstein 45 days to renegotiate a construction timetable.
The decision was handed down after Silverstein sought damages and rent abatement for infrastructure delays.
The arbitration panel denied those requests, but relaxed a provision which would have stripped Silverstein Properties of development rights to Towers 2, 3 and 4 if they are not completed on time.
In statements, both sides had a positive reaction to the panel's order to head back to the negotiation table.
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