It looks like the North End United Housing Co-operative will only have to pay half of its $1.1-million bill from contractors.

Dozens of units were renovated back in 2010, and only a small portion on the tab has been paid.

After months in court, a deal was reached on Monday that will see the Co-op pay back $0.50 for every dollar owed to contractors.

“I think it’s a good case scenario,” said Jonathan Hannam, president of the co-op’s volunteer board of directors. “The plan going into this was that we would preserve affordable housing within peninsular Halifax and we feel that this plan fits within that.”

The judge in the case has granted the co-op another three week reprieve from creditors. The deal is expected to be finalized when the two sides head back to Nova Scotia Supreme Court on Sept. 4.