Archbishop of New York Cardinal Timothy Dolan in Saint Patrick's Cathedral in New York City, on February 23. Eduardo Munoz/Reuters New York AP —

The Archdiocese of New York on Monday announced it will set up a $300 million fund to compensate victims of sexual abuse who have sued the church.

In a statement, Cardinal Timothy Dolan said the archdiocese would pay for the fund by reducing its budget and selling off assets, including completing the sale of its former headquarters in Manhattan, with the goal that the fund “can be set aside to provide compensation to survivors of sexual abuse.”

The archdiocese has also agreed to engage retired Judge Daniel J. Buckley as a mediator between itself and victims to reach a settlement, Dolan said. Buckley had a similar role in negotiations b

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