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Audit to Showcase Cost Overruns at WTC

NEW YORK CITY-A stringent financial review of Port Authority practices shows fiscal mismanagement at the 16-acre redevelopment site, according to the New York Post.

By Jacqueline Hlavenka | Updated on October 17, 2011

NEW YORK CITY-A stringent audit of Port Authority practices will reportedly show years of fiscal mismanagement at the World Trade Center site that led to a recent fare and toll increase. Sources told the New York Post reported that outgoing Port Authority executive director Christopher O. Ward authorized “hundreds of millions” of unnecessary spending at the 16-acre redevelopment site to accelerate the building of the zone.

The audit, which will be made public within several weeks, was ordered by governors Andrew M. Cuomo and Chris Christie after the Port Authority board voted to implement the fare and toll increases on local bridges and tunnels in August. In a joint letter to the Port Authority, Cuomo and Christie expressed that they “did not want to see any toll increase,” but “given the crisis” facing the port and its finances, and the potential safety and economic risks to commuters and businesses,” the increase could not be avoided, they said.

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