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Deal on 9/11 Museum Reduces -- But Doesn't Eliminate -- Port Authority's Financial Exposure

Wednesday, September 12, 2012 - 12:20 PM

(photo by Kate Hinds)

Just 13 hours before the commemoration of the September 11th attacks was to begin, Mayor Bloomberg and the governors of New York and New Jersey announced they had resolved their disagreement over who owed whom what for building of the museum on the World Trade Center site.

The authority owns the site and is managing construction of the museum for a private foundation. In December, it stopped work because it said it was owed tens of millions of dollars on the project. This agreement will restart the project -- but it won't help the Port Authority of New York and New Jersey recoup all of its losses. But, says WNYC reporter Bob Hennelly, it outlines steps to prevent even deeper losses in the future.

Listen to WNYC's conversation about the 9/11 memorial and the Port Authority below.


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