World Trade Center lease

From Debunk911myths

World Trade Center lease

The World Trade Center was built by the Port Authority -- a bistate agency that was exempt from local taxes and regulations. Nonetheless, the Port Authority needed approval from the city to build the World Trade Center, which had authority to close off streets to create the WTC site superblock. The city received more than $20 million of payments in lieu of taxes from the Port Authority, which owns the complex, and had hoped to reap as much as $100 million a year in payments after a private developer, Silverstein Properties, leased it this year.[1]

In 2001, the Port Authority put the World Trade Center up for bid, to be operated by a private firm. Major contenders in February 2001 included Silverstein Properties, Vornado Realty Trust, and Boston Properties/Brookfield Financial Properties.

References

  1. ↑ Eaton, Leslie (September 13, 2001) "In Wounded Financial Center, Trying to Head Off Defections", The New York Times
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