NEW YORK CITY-On the eve of the 11th anniversary of Sept. 11, the Port Authority of New York & New Jersey, the National September Memorial & Museum and Gov. Cuomo, Mayor Bloomberg and Chris Christie reached an agreement late Monday to re-start construction on the 9/11 Museum. The deal settles a $300 million financial dispute between the Port and the foundation that caused work to halt at the eight-acre site several months ago. The museum was originally scheduled for completion this year.

According to the memorandum of understanding reached by the Port and the foundation that oversees the memorial, the Port--the bi-state agency that oversees the site--plans to accelerate construction of the museum following a due diligence review of the foundation's financial capacity and resources. Once construction has resumed full pace, it will be continued unless the Museum fails to pay on a timely basis any amount required to be paid, the agreement says.

The foundation agreed to pay $17 million to the Port for the work, and subsequently, the agency anticipates $150 million in cost savings based upon "agreed upon reduction of anticipated overtime costs, a moratorium on change orders and contributions the Memorial will make to the project." The agreement also establishes a site-wide coordination task force to ensure all activities that impact World Trade Center stakeholders are appropriately coordinated.