US WTC Tower Developer Seeks Federal Funding

1 December 2010 (Last Updated December 1st, 2010 18:30)

Larry Silverstein, the developer of the World Trade Center, is seeking $200m in federal funding to build Tower 3 in New York, US. The state agency Empire State Development Corporation is expected to make a decision on the proposal on 6 December. The 71-storey skyscraper is

Larry Silverstein, the developer of the World Trade Center, is seeking $200m in federal funding to build Tower 3 in New York, US.

The state agency Empire State Development Corporation is expected to make a decision on the proposal on 6 December.

The 71-storey skyscraper is scheduled to open in 2015, the Empire State Development Corporation said.

In addition, Silverstein also plans to finance the 195,096m² tower with federal post-9/11 liberty bonds, insurance proceeds, private investment and other public money, according to dnainfo.com.