The memorial foundation will disclose its finances to the Port Authority and provide a security deposit equal to six months of estimated utility expenses, according to the agreement. The foundation pledges to find enough money for ongoing operations, which the mayor has estimated could run as high as $50 million a year. The parties agreed to work together to obtain an annual federal operating subsidy.
“The delays were understandably frustrating for many, particularly the families, friends and loved ones of all the 9/11 victims,” New Jersey Governor Chris Christie said in a statement.
A better agreement would be to hand over responsibility for the site to the National Park Service, said Sally Regenhard, a member of the 9/11 Family Steering Committee, a group of families that has opposed some policies regarding the museum and memorial in Lower Manhattan.
“The complete lack of professional management at the 9/11MM has resulted in Ground Zero losing its entire historical integrity, becoming an 8-acre recreational area for fun and amusement,” Regenhard said by e-mail, referring to the museum and memorial.
Regenhard’s son, Christian, was a probationary firefighter with the New York City Fire Department who perished in the collapse of the Twin Towers.
“It does not address all of the fiscal questions that have plagued Ground Zero and the simplest solution is to give the responsibility to the National Park Service to operate it,” Regenhard said of the agreement. “If the National Park Service takes it over, we’ll get fiscal responsibility. Here, we have not seen fiscal responsibility.”
The mayor is the founder and majority owner of Bloomberg News parent Bloomberg LP.