Larry A. Silverstein
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Larry Silverstein Larry A. Silverstein Larry Silverstein
The developer Larry A. Silverstein offer the Port Authority which was rejected by them for bringing back the negotiations and said it would unveil its own proposal for the site next week. Conversations between Mr. Silverstein, who controls the lease at ground zero, and the Port Authority of New York and New Jersey, which owns the land, abruptly broke off. Eager to restart the talks, Mr. Silverstein sent the Port Authority a new proposal that he had hoped that would lead both sides back to the bargaining table. The Port Authority rejected a new offer yesterday from the developer Larry A. Silverstein to revive the negotiations. Talks between Mr. Silverstein, who controls the lease at ground zero, and the Port Authority of New York and New Jersey, which owns the land, abruptly broke off. Eager to restart the talks, Mr. Silverstein sent the Port Authority a new proposal that he had hoped would lead both sides back to the bargaining table. The dispute between Mr. Silverstein and the Port Authority surfaced as state and city officials became concerned about the developer's ability to rebuild the entire site, at an estimated cost of more than $7 billion, when there is only $2.9 billion in insurance money available. Mr. Silverstein, in turn, would have retained what everyone regards as the most lucrative sites for three towers on Church Street, next to the $2 billion PATH terminal now under construction.