Port Authority, developer continue WTC talks

Construction continues on the Freedom Tower foundations at the World Trade Center site on Friday, June 20, 2008 in New York. In addition to the tower, three office towers, a transportation hub and the Sept. 11 memorial are under construction. (AP Photo/Mark Lennihan)

March 12, 2010 5:22:33 PM PST
Both sides negotiating a new completion plan for the World Trade Center site say they're continuing to talk despite a deadline. Developer Larry Silverstein and the Port Authority of New York and New Jersey said in a statement Friday that they are continuing to negotiate.

Both sides say they've given an update to the arbitration panel that set Friday's deadline.

They say that after "substantial discussions," they "have made progress toward resolving the issues surrounding the eastern portion of the World Trade Center site."

The building of planned towers at that part of the site has stalled in a dispute over financing. Silverstein wants more public money to build the towers, but the authority says it's better to delay construction on two of the towers until the real estate market improves.