The agency that owns the World Trade Center site is expected to formally approve a deal over how to help pay for two towers a developer plans to build there.
The deal calls for the Port Authority to put up $1 billion to help finance a 64-story building already under construction. The money would be used only if the building doesn't repay its debt.
The agency also has agreed to provide $600 million backup financing for a 71-story tower, if Silverstein finds tenants for it and first raises $300 million in cash.
Plans for a third Silverstein tower are on hold until market conditions improve.