In November 2014, the New York City Department of Education classified 94 low-performing schools as "renewal schools." New York's Renewal School Program (RSP), announced Mayor Bill de Blasio at the program's launch, represented a big change to the city's education policy: whereas former mayor Michael Bloomberg favored closing failing schools, RSP would fix them instead. RSP--which went into full effect in the spring of 2015--has retained many of the core elements of a strong accountability policy, including school oversight and more time in the classroom (renewal schools have longer days). RSP supplements these stalwarts of education reform with an infusion of extra money: $149 million over three years. Is RSP succeeding? The release of renewal schools' spring 2016 state test results in math and English language arts (ELA) allows for a one-year evaluation. This report applies regression models to measure how renewal schools perform relative to how they would have fared absent RSP.