patheos.com/blogs/kathyschiffer/2014/02/some-key-facts-everyone-should-know-about-the-archbishop-s-residence-in-newark/
WHAT WILL THE RENOVATION COST THE ARCHDIOCESE?
Quick answer: Nothing. The project is being funded solely by private contributions which have been donated for this purpose.
The home which is the subject of newspaper speculation was actually purchased by the Archdiocese of Newark twelve years ago, using proceeds from the sale in 2002 of a more expensive home on the Jersey Shore. The Jersey Shore home which was sold in 2002 had a greater value than does the home which is currently being renovated, even when one includes the cost of landscaping and furnishings.
A statement released by the Archdiocese explains:
The current weekend residence and future retirement home of Archbishop Myers was purchased in 2002 with funds from the sale of a prior residence at the Jersey Shore that had been donated to the Archdiocese more than 20 years ago.
The planned construction is being paid for by donations from individuals specifically given for this purpose, and through the sale of other residential properties that the Archdiocese owns but does not need. The sale of these properties is expected to not only pay for the construction, but also to return funds to the Archdiocese for other ministry uses.
No parishioner funds or Archbishop’s Annual Appeal contributions are being used on this project. Similarly, no convents, schools or other Archdiocesan buildings are being sold to provide funding for this project. The Archdiocese
does pay real estate taxes on this property.
Full article at link.