IRS Approves $340M Bond Financing For 3 WTC

Law360, New York (January 13, 2014, 5:49 PM EST) -- The Internal Revenue Service has approved $340 million in bonds to help finance the construction of 3 World Trade Center, which has been delayed for several years, Sen. Charles Schumer, D-N.Y., announced Monday.

The IRS had originally been unsure whether to issue guidance for the bonds for the planned 80-story building, leading Schumer to take his case to Treasury Secretary Jack Lew, who pushed the matter forward. Had the IRS refused to issue guidance, the state would have had to seek a legislative remedy, further delaying...
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