on october 2, 2012, the large advertising and media company groupm was confirmed by several sources to be in the preliminary negotiations to anchor 3 world trade center in a deal that would allow construction to begin on the planned 80-story office tower. the lease would be about 550,000 square feet in size, a large enough commitment to qualify the project for up to $600 million in public benefits in the form of a mix of equity and loan guarantees from the city, the state, and the port authority. in december 2013, groupm was signed on as anchor tenant. this allowed the tower to resume construction in late 2013. in january 2014, senator chuck schumer negotiated a $340 million round of financing through federal recovery zone bonds to finance the project's construction. a subsidy, which would have doubled the loan given to the construction of 3 world trade center, was postponed by the port authority of new york and new jersey in april 2014 until june 2014.