The Lower Manhattan Development Corporation has designated $37.5 million dollars for the deconstruction of the former Deutsche Bank tower, which is situated south of the former World Trade Center towers.
The former Deutsche Bank building has been deemed unsafe after several contaminants, including asbestos, were found within the structure. Construction work on the building was stopped during the summer of 2007 after two firefighters were killed at the site.
Funding for the demolition will come from Federal funds that have been set aside for the repair of various structures in and around the WTC site. Due to the heavy contamination of the Deutsche Bank tower, Mike Murphy, spokesman for the Lower Manhattan Development Corp., says that the demolition must begin immediately.
Exposure to asbestos has been conclusively connected to the eventual onset of mesothelioma, a deadly lung cancer that has a survival rate of less than 1% and no known cure.