Seams to me a win win situation for both parties. How times have changed! Remember when NYC wanted the PANYJ out of the airports. I guess BAA who was in the running to take over the airports are biting thier nails. Agency Considers WTC Land Swap Plan Aug 3, 7:44 PM (ET) (AP) Work continues at the construction site of the World Trade Center ground zero area which was the... Full Image NEW YORK (AP) - A proposal to swap ownership of the World Trade Center property for the land at LaGuardia and Kennedy airports deserves "serious examination," the chairman of the Port Authority of New York and New Jersey said Saturday. "In concept, it would be consistent with the Port Authority's core mission of transportation," said PA chairman Jack G. Sinagra. "If the city is serious about pursuing this idea, we would welcome such a discussion." The Port Authority currently owns the 16-acres that made up the trade center site, while the city owns the two New York airports. A swap would serve to cut the Port Authority out of the rebuilding process at ground zero, eliminating its need to maximize revenues by building and leasing a large amount of commercial space. Mayor Michael Bloomberg "agrees that the idea has merit and deserves further exploration," his spokesman, Ed Skyler, said Saturday. The trade between the city and the bi-state agency was described in several published reports. Six initial rebuilding plans for the World Trade Center site were heavily criticized when they were made public last month. Each of the plans includes a sprawling memorial to victims of the Sept. 11 terrorist attack, 11 million square feet of office space and 600,000 square feet each of retail and hotel space to replace what was lost when the twin towers collapsed. Some family members of the 2,800 people killed in the attack opposed any commercial development on the site. The Port Authority, which owns the World Trade Center land, currently pays $3 million annually for the land leases at the two airports. Negotiations are under way to extend the airport leases, which ends in 2015. It derives $130 million in annual revenue from the lease of the World Trade Center site. Gov. George Pataki has suggested that planners look to areas beyond the trade center site for development. Through his appointees, the governor has considerable sway over the two agencies guiding the effort: the development corporation and the Port Authority. Roger EWROPS