The site, now occupied by a temporary PATH station, is to be the home of the Performing Arts Center. Credit Michael Appleton for The New York Times.

The Performing Arts Center planned for the former World Trade Center site was dealt a serious blow on Thursday when the corporation in charge of downtown redevelopment insisted that the project come in at no more than $200 million — about half the original estimated cost. The Lower Manhattan Development Corporation, which oversees the former World Trade Center site, made it clear at a board meeting that the $99 million in federal funds committed to the project was contingent on the arts center’s leaders’ producing an affordable design and a viable plan for raising the remaining money from private sources.....Continue Reading

> via international.nytimes.com