The money will come from the state's capital budget for public improvement projects and will require no local matching funds.
Construction, which will include a complete rebuilding of the ship's hull, is expected to begin no later than 2016. The work should take about 15 to 18 months, which means the ship will miss one sailing season, said Niagara Capt.
But Sabatini said the plan calls for the work to be done at the Niagara's berth at the
"It's a huge attraction, a huge exhibit," he said, referring to the reconstruction project.
Wooden ships such as the Niagara typically require an extensive refit and renovation after about 20 years, the governor's office said. Even if well maintained, water seeps through the deck, causing the wood of the topsides to soften and decay, and the fasteners to corrode.
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