Port Authority Philanthropy

The Port Authority nearly doubled its contribution to the World Trade Center Memorial this morning, from $100 million to $195 million, according to a statement, which means that the memorial foundation almost has enough money to get the thing built. Right now, private and public funds tally between $525 million and $575 million, while the Sciame report estimated that the scaled-down memorial, museum and associated infrastructure would come to around $605 million, provided that the Port Authority takes over construction, which it also agreed to do this morning. The private, nonprofit foundation is launching its national campaign to raise $170 million, which will close the gap and then some, this afternoon.

Don’t worry. This doesn’t mean more of your taxes are headed towards Ground Zero–just that more of your bridge tolls and airport fees are.

Matthew Schuerman Port Authority Philanthropy