The Archdiocese of New York will use money from real estate sales, staff layoffs and budget reductions to set up a $300 million fund to pay for a settlement with 1,300 people who accused its priests and staff of sexual assault as it enters a 60-day mediation process with victim attorneys, the country’s second-largest archdiocese announced Monday.

In a public statement, Cardinal Timothy Dolon said its his “hope and prayer,” the archdiocese can “provide victim-survivors with the most financial compensation possible to help heal [their] wounds.” Dolon said the archdiocese and victim attorneys agreed to engage retired Judge Daniel J. Buckley as a mediator to work towards a global settlement for all 1,300 victims collectively. Buckley played a similar role in last year’s $880 million settlemen

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