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Costs of Dismantling Deutsche Bank Building Rising

Monday, August 03, 2009

The costs of taking down the former Deutsche Bank building at the World Trade Center site keep climbing. The Lower Manhattan Development Corporation has set aside more than $200-million to acquire clean and demolish the tower. But WNYC's Matthew Schuerman says the government agency has found that's not enough.

REPORTER: The LMDC says its almost finished abating the asbestos and other hazards caused by falling debris on September 11th. But it will need between $30 and $35 million to completely dismantle the building. That's partly because contractors have been taking extra safety precautions ever since a fire at the site in 2007 killed two firefighters.

Board members are scheduled to meet this week to figure out where the money is coming from. Ultimately, the building's insurers may pick up part of the cost. But in the interim the LMDC is considering diverting money from other programs. For WNYC, I'm Matthew Schuerma

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