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Port Authority, developer continue WTC talks

Both sides negotiating a new completion and financing plan for the World Trade Center site said late Friday they're still talking despite edging past a deadline.

Developer Larry Silverstein and the Port Authority said in a statement they are continuing to negotiate.

Each side said they had given an update to the arbitration panel that had set Friday's deadline. Their reports said 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 two additional planned towers has stalled in a dispute over financing. Silverstein wants more public money to build the towers, but the authority, which already is financing the first tower, says it's better to delay construction on the other two until the real estate market improves. - AP

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