Four Finalists Picked in Bid for Warship in Philly

PHILADELPHIA (AP) -- Four finalists have been chosen as potential
owners of a historic warship in Philadelphia.

The USS Olympia, a one-of-a-kind steel cruiser from the
Spanish-American War, needs up to $5 million in immediate repairs
and up to $20 million more for restoration.

Six organizations submitted proposals to take over the Olympia
from the Independence Seaport Museum. The four finalists announced Thursday are based in Beaufort, S.C.; Vallejo, Calif.; Washington, D.C., and Philadelphia.

They now must submit more detailed plans. The secretary of the
Navy must approve the transfer of ownership, which would likely
happen in 2013.

The seaport museum is looking for someone to take ownership of
the National Historic Landmark because they can't afford the
repairs. The Olympia is in danger of being scrapped if a new owner
isn't found.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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