Photo courtesy of the Greek Orthodox Archdiocese of America
Construction company Skanska USA stopped work at the St. Nicholas Greek Orthodox Church this month after the Greek Orthodox Archdiocese of America failed to make payments on the project. The cost of rebuilding the church, which was destroyed in the terror attacks on 9/11 more than sixteen years ago, increased to an estimated $78 million from a 2013 estimate of $20 million. While the archdiocese raised $37 million in donations, it was still unable to pay its bills, prompting an independent investigation of the church’s financial mismanagement, as the New York Times reported. Since learning of its deficit, the archdiocese has cut 25 percent of its staff and 25 percent of its expenses. A new treasurer and a chief financial officer have also been hired.