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Archdiocese Closes School Due To Lack Of Funds, Then Builds Palace For BishopTOM KLUDT – FEBRUARY 20, 2014, 10:03 AM EST7993An archdiocese in New Jersey is building an expansive, palatial addition to a retirement home for its archbishop, two years after it shuttered a school due to a lack of funds.Newark Archbishop John J. Myers has used a 4,500-square-foot home in Hunterdon County, N.J. as a weekend residence since 2002, according to the Star-Ledger.Valued at $800,000, the home already boasts five bedrooms, three bathrooms, a three-car garage and an outdoor swimming pool. And now, thanks to a 3,000-square-foot addition, it's about to get even bigger.With the 72-year-old Myers nearing retirement, the Newark Archdiocese is financing a $500,000 expansion that will include an indoor exercise pool, three fireplaces and an elevator.