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Real estate development and investment firm Silverstein Properties and real estate investment trust Westfield America Inc. finalize a deal worth $3.2 billion to purchase a 99-year lease on the World Trade Center. The agreement covers the Twin Towers, World Trade Center Buildings 4 and 5 (two nine-story office buildings), and about 425,000 square feet of retail space. [New York Times, 4/27/2001; Port Authority of New York and New Jersey, 7/24/2001; IREIzine, 7/26/2001] Westfield America Inc. will be responsible for the retail space, known as the Mall. Silverstein Properties’ lease will cover the roughly 10 million square feet of office space of the Twin Towers and Buildings 4 and 5. Silverstein Properties already owns Building 7 of the WTC, which it built in 1987. This is the only time the WTC has ever changed hands since it was opened in 1973.
99 years later ownership would have reverted back..
Silverstein Properties held a leasehold agreement, which means he paid rent for the LAND.. leasehold n. the real estate which is the subject of a lease (a written rental agreement for an extended period of time). The term is commonly used to describe improvements on real property when the improvements are built on land owned by one party which is leased for a long term (such as 99 years) to the owner of the building.
Thank you for stating the same point I already stated, Silverstein had a lease on the buildings, which the company was leasing it from the owner of the building. So yes, technically the Port Authority were still the owners of the buildings.....does the word "lease" confuse you or something?
I am sick of hearing that Obama gave businesses 18 tax breaks. It is a LIE!
In fact, if you look at Obama's list, you quickly realize that all but 4 have either expired and have been double-counted. And the rest are "WORTHLESS". The problem with Obama's entire approach to tax cuts, and why none of them has made a difference. They are either too narrowly targeted or too complicated, require businesses to jump through hoops to qualify, or are too temporary to have any long-term incentive effect.
They are designed more to give Obama something to brag about than actually to help small-business owners. All of which might help explain why Obama's policies have left small companies increasingly pessimistic and they will not hire.
Obama may think he can fool the public into believing his tax policies are helping small companies survive and thrive. Small-business owners who have to "balance their budget know better.
Obama keeps pointing at things are today... NOT??? Of course we did not hear anything new from Obama.
Romney has the plan.
here's another really annoying thing about obama and his BS, about helping american businesses----and this is just ONE example.
With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company’s manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
so if you didn't have an american company to build it (and i seriously question that!!) then why give the loan in the first place?
talk about outsourcing, and this is american taxpayer money-which should be used to help americans.
and, just for the record, that is an al gore venture capital firm. (Kleiner Perkins Caufield & Byers), and some of those cars died during the test drive.
Corporations are LEGALLY FORMED.. You are arguing against yourself again..
And one doesnt have to be legally married to file together, I've filed with my fiance for 12 years now and we're not married..
yes, if no one works for a corporation, its still a person, they still have to file taxes..
Well okay then, I guess that means if I go and stab the Fox News Corporation the building will bleed, I don't want to stab the people who work for the corporation, just the corporation itself.
A corporation is not a flesh and blood person, the people who work for that corporation are people....I don't think you will ever understand that, which makes me thing the people who educated you must of failed.
Romney gave Obama a fight, I'll agree to that, however Romney did not win this debate. Most polls have showed Obama as the winner-some have showed larger margins, most have showed modest "win" margins. Basically Obama won, but it wasn't a kill. That being said I think Romney WON on the economy. Romney did not win on immigration,women's "pay" and rights, Libya, or the last question, Obama did. The rest of the issues (beyond economy, immigration, woman's pay and rights, Libya, and the closing question) I feel were a tie between both. I think Obama did what he needed to do, just as Biden did. I think Romney kept his base somewhat satisfied, and he probably won't be significantly impacted by the debate in a negative way like Obama was two weeks ago. But I think Obama will feel a positive impact from this debate, which is essentially what he needed anyway.
Yet all Romney could put forth when asked about how he was going to pay for his tax cuts and create those 12 million jobs in four years is 'I KNOW how to create jobs and I KNOW how to fix the economy'. BUT when asked how he would do that, he would never say so nor would he volunteer that .
Neither candidate did, which was disappointing. When asked what they would do to help people out of work right now, they just attacked each other without answering the question.
Besides why would anyone want to go to all that schooling, a doctor for example only to have Obama steal make them pay higher taxes to his green energy. Obama keeps preaching education but it would have to be for low paying jobs. I wouldn't go to school to be a doctor right now because you just are not going to be able to keep the money.
It doesn't matter what you make if Obama is going to take it away from you.
Oh for gods sakes, I never thought people were this dumb.
9-11 was an attack on WTC, CIVILIAN buildings, hence it was a terrorist attack, (which requires an attack against CIVILIANS) The attack against the Pentagon would not have been a terrorist attack, since its a government building, but they used civilian aircraft which made it one.
Pearl Harbor is a military base, and because its a government building, it is NOT a terrorist attack.. which again, requires an attack against civilians.
Your examples actually prove I'm correct..
You mean as dumb as YOU?
I was referring to the PEOPLE.
Again, it's sad to note that you seem to think the PEOPLE are so UNIMPORTANT.
But then again that doesn't surprise me one bit.
Mitt Romney is an IDIOT and he OFFENDED women across America tonight once again.
This dude is crazy and he is just another opportunist who was trying to bully our president tonight.
He was disrespected to women tonight, he was disrespected to our President and he was disrespected to all of us ordinary Americans.
This was one of the crazier things he said tonight.
Thank you for stating the same point I already stated, Silverstein had a lease on the buildings, which the company was leasing it from the owner of the building. So yes, technically the Port Authority were still the owners of the buildings.....does the word "lease" confuse you or something?
no, leasholders are OWNERS of the buildings, they lease the land. When the lease is over, then the owernership of the buildings on the land revert to the owner of the land. They do it all the time for things like Burger Kings, McDonalds etc.
Practically all flats in the UK are sold on a leasehold basis, whether house conversions, new build flats or purpose-built blocks from the 50s. Leasehold means that you own the property for a set number of years, as specified in the lease - this can be anything between 99 to 999 years. The flat can still be bought and sold within that period.
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