Port Authority paying Larry Silverstein $21.5 million - WTC/Freedom Tower

Larry Silverstein made a huge profit on 9/11 from the WTC's demise of 4.6 billion dollars from insurance. It seems the Port Authority has been paying him $500,000 every month for basically consultation fees, though they have not consulted with him on the new "Freedom Tower" being built. The payments will go through next year, totalling to $21.5 million.

link to article: www.nydailynews.com...

The Port Authority is paying Larry Silverstein $21.5 million to develop the Freedom Tower - even though he has absolutely no role in building the 1,776-foot icon, the Daily News has learned.

More than two years after the builder lost control of the planned 102-story tower at Ground Zero, he is collecting $500,000 monthly "development fees" - and the checks will keep flowing until mid-2010, documents show.

The giveaway - $15.25 million so far and an additional $6.25 million in the pipeline - is costing bridge and tunnel commuters the equivalent of 2.7 million George Washington Bridge tolls or 12.3 million PATH fares.

This is unbelievable, considering N.Y. city is cutting city employees jobs. I know the Port Authority is not a "city govt. entity", but the fact is money and budgets are tight everywhere. Giving a man who made a huge profit off the destruction of the WTCs is ridiculous and outrageous.

The PA has never made such a request. Agency officials confirm that Silverstein is receiving development fees even though he's done no work on the building since the deal was thrashed out more than two years ago.

Silverstein defended the Freedom Tower fees, noted they were approved by all parties, and claimed they are "dramatically below market" - 1% of the then-estimate of the project's cost.

"Over the past three years, the Port Authority has elected not to utilize our services," his spokesman said.

He obviously has friends in very high places to be able to keep profitting off the WTC from the Port Authority. At this point, if they have not used his services for payments given over the last 3 years, why do they still keep paying him?

History of money received.

A federal jury ruled that the assault on the Twin Towers of the World Trade Center was in fact two occurrences for insurance purposes. The finding in U.S. District Court in Manhattan means leaseholder Larry Silverstein may collect up to $4.6 billion, according to reports. [Forbes.com 12/06/04]

[edit on 15-4-2009 by questioningall]

The rancid stink of 9/11 will permeate Silverstien's life forever more.

There are those in our society who consider themselves immune from public scorn and judgment, there are those who believe they 'deserve' the outrageous special consideration and deference given them by the 'tools' of their benefactors. Perhaps Mr. Silverstein may never even feel a nano-second of doubt regarding his involvement in the affair.

But should his revenue flow be interrupted, we might see another side of this 'businessman.'

It's unlikely that the blood money he is receiving will be withheld. But I suspect everyone who travels within his social circles, knows exactly what he is, and what he did; even if their too chicken-sh#t to call him out on it.

Whatever happened to the money collected for the victim's.... by the way? Or has the media forgotten about that? Or have we given up on that?

I saw this and went "WHAT" out loud! This is insane! What about the families and victims? He is making all this money for what?! 500,000 dollars a MONTH?! That money could be used for people who suffered as a direct result of 9/11 like the families and survivors. As you also stated NY has had some employee job cuts. What this man is making monthly could pay salaries for many many people in NY.

reply to post by questioningall


Funny how we keep hearing about how "poor" Larry is losing money from the "duhbunkers".

Thanks for the info.