Bloomberg News reports that JPMorgan Chase & Co. has agreed to a $300 million, 99-year lease for an office tower to be built just south of New York’s World Trade Center site.

JPMorgan, will move to the building, which is to be over 40 stories, according to sources, who spoke on condition of anonymity because they weren’t authorized to comment. The agreement with the Port Authority of New York and New Jersey, the agency that controls the site, will be announced tomorrow morning by New York Governor Eliot Spitzer and JPMorgan Chief Executive Officer Jamie Dimon, the people said.

JPMorgan will become the first private company to commit to taking space in the Ground Zero reconstruction zone.