Recently we posted that the Independence Seaport Museum is seeking a new owner for the USS Olympia which it cannot afford to support.  See Philly Museum Sends SOS to Care for Historic Ship.   Sadly it appears that not only can’t the museum afford to keep the Olympia at dockside, but that it can’t afford to move it either.

Historic ships steel-hulled ships should be drydocked for maintenance at least every twenty years. The Olympia has been in the water continuously for 56 years, since 1945.

Olympia needs $30m in repairs, new caretaker

It will cost an estimated $10 million just to dredge the Penn’s Landing Marina to transport the Olympia to dry dock.  Another $10 million is expected to be required to make necessary repairs.   The Museum has money for neither.  An additional $10 is estimated to be necessary to provide an endowment to maintain the ship going forward.

The Independence Seaport Museum has been plagued by scandal in recent years. It’s most recent president, Lori Dillard Rech, recently resigned. She had taken over from John S. Carter in 2007.  Mr. Carter had pleaded guilty to to charges of fraud and tax evasion from misappropriating more than US$1 million in funds from the museum. He is currently serving a fifteen year sentence in federal prison.  Ms. Rech is credited with attempting to  to bring accountability and transparency to the museum’s financial dealings, but is now moving on.   Board member James W. McLane will serve as interim president.