New York One and the New York Post reporter that Gov. Pataki and Mayor Bloomberg are seeking to oust Larry Silverstein as Ground Zero developer and collect his $4.5 Billion in insurance payouts.
The sticking point is that Silverstein is using the government mandated changes as reasons why they should help pay.
This is just another Alice in Wonderland development at Ground Zero. Silverstein signed a 99-year lease for the property in April 2001.
The government has paid for the clean up of Ground Zero (while Silverstein has sued to get the insurance proceeds). However Silverstein is said to have continued paying the $120 million/year rent on the space.
If LMDC had followed a logical course of saying what and where things could be built at Ground Zero, there would not have been the big battle now. Instead, LMDC and various governments stuck their noses saying the huge Cultural Institutions and a huge subway station had to be built — items on this scale that were not present at Ground Zero prior to 9/11.
This in turn meant there was less space for Silverstein to make a stab at privately taking the risk on rebuilding towers.
Silverstein is being villified for insisting on restoring 10 million square feet of lost space.
However if LMDC had kept its nose out of every aspect of Ground Zero and instead focused on protecting the core 3 acre block that forms the WTC footprints everything would have fallen into place. Silverstein would have privately taken the risk for better or worse
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