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NEW YORK (AP) - The World Trade Center site's owner says it will soon be able to stop paying a $300,000-a-day penalty for missing deadlines to turn land over to the site's developer.
The Port Authority of New York and New Jersey says it will turn over the land in the next few days to Larry Silverstein, who is building three towers on the 16-acre site.
The agency was penalized $300,000 a day for missing deadlines set in Silverstein's lease.
Port Authority Executive Director Chris Ward told City Council members Wednesday that the final turnover will "start the clock" on Silverstein