Press Release Article

Statement By Port Authority Chairman Anthony R. Coscia and Port Authority Vice Chairman Charles A. Gargano Re: World Trade Center Memorial

Date: Jul 06, 2006
Press Release Number: 0-2006

“We are honored to assume responsibility for construction of the World Trade Center Memorial after we were asked to do so by the Governors, the City of New York, the LMDC and the Memorial Foundation. The Port Authority is committed to the construction of an appropriate Memorial that honors the 84 agency employees and nearly 3,000 others who lost their lives on 9/11.

“We are also pleased to announce that the Board of Commissioners has agreed to contribute up to an additional $95 million toward the Memorial and Memorial Museum. This is in addition to the $100 million the Port Authority already committed to this significant national project as part of our recent Conceptual Framework agreement with Silverstein Properties.

“While the agency has agreed to build the Memorial and Memorial Museum, the Memorial Foundation will continue to assume responsibility for the integrity of the design and operation. In the upcoming months, we will be doing responsible due diligence until the design work and financial plans have been finalized. In our new role as construction manager, we will also review cost estimates for the Memorial, the related underground infrastructure and the Visitor Orientation and Educational Center.

“Final transfer of all of the construction responsibilities will take place in September. Initial construction work will include the installation of foundations.”

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