A deal between Bloomberg administration the Port Authority and to swap the land beneath two airports for the World Trade Center property is gaining momentum.
"The city would give the Port Authority the 5,610 acres it owns beneath two city airports in exchange for the 16-acre trade center site and lots of cash. The city would gain control of the site, while the authority would get control of the airports...The Port Authority would turn over the site and pay the city $700 million to $800 million in return for the airport land. This puts the two sides considerably closer than the $400 million that once separated them."
Thanks to Abhijeet Chavan
Read the full story: Bloomberg Administration and Port Authority Get Closer on Possible Land Swap Deal
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