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Security Newswire

Report Says NJ, NY Port Authority Needs ‘Top-to-Bottom Overhaul’

The Port Authority of New York and New Jersey, which is redeveloping the World Trade Center, needs a “top-to-bottom overhaul” because of poor management and a lack of cost controls, according to an interim audit released by its board.

The cost of the World Trade Center project in Lower Manhattan has grown to $14.8 billion from about $11 billion estimated in 2008, the audit found. After third-party reimbursements, the net cost to the authority has climbed to $7.7 billion from $6 billion, says a Bloomberg report.

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