New Yorkers are on the hook to hand over $321 million to Goldman Sachs, America's richest investment bank, because the Port Authority failed to rebuild the World Trade Center as fast as promised.

“Under the terms of the ground lease, we made a lump-sum ground rent payment in June 2007 of $161 million, which was paid into escrow, to be released to the Battery Park City Authority pending performance of specified state and city obligations,” it said.

“The city is on track to provide a comprehensive security plan for lower Manhattan by the end of 2009 as required by the agreement, and we are working with the Port Authority and Lower Manhattan Development Corp. to help them meet the other deadlines,” said Deputy Mayor for Economic Development Robert Lieber.

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