Author Topic: EBT is SOLD! New non-profit to open RR in 2021  (Read 2315 times)

Ed Lecuyer

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EBT is SOLD! New non-profit to open RR in 2021
« on: February 14, 2020, 12:50:08 PM »
Lots of details/discussion everywhere (FB, NGDF, RYPN, etc.) but here is the official press release:
http://ngdiscussion.net/phorum/file.php?1,file=61498,filename=EBT_News_Release_6_.pdf

Congratulations to everyone (including many friends/members of the WW&F) who made this day possible.
Ed Lecuyer
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Graham Buxton

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #1 on: February 14, 2020, 02:34:09 PM »
There is a new EBT website also:


https://eastbroadtop.com/
Graham

James Patten

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #2 on: February 14, 2020, 03:31:13 PM »
I hope they have REALLY deep pockets.  While the list of principals is impressive, without substantial funds it won't go very far.  One assumes that people like Wick Moorman and Bennett Levin have done their due diligence and wouldn't associate with an organization that hasn't done its homework.

John Kokas

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #3 on: February 14, 2020, 04:11:49 PM »
I think if the Dave asked, Wayne would probably be able to give an overview of the EBT deal and structure during SWW for the membership.  He's in Orbisonia,     pa right now helping to cover the story for TRAINS magazine.  There might be something for us to learn about how the "foundation" will get funded.
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Kevin Madore

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #4 on: February 14, 2020, 04:14:58 PM »
I think this is wonderful news.  Depending on how the new organization is structured, this change may open up new channels for fund-raising and volunteerism.  If they’re careful about establishing reasonable goals, and getting things done on time, people will contribute to the effort......not unlike the way people step up to help us in our goals in Maine. 

The saddest story in railroad preservation today now has at least a chance for a happy ending.

/Kevin Madore

Benjamin Richards

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #5 on: February 14, 2020, 04:31:10 PM »
I remember the day I found out the EBT would not run anymore. I was in college at the time. I remember everything about it, down to the seat I was sitting in, and even the weather.

To the funding point: "People think steam engines run on water and coal. They do not. They run on money."

(I did not come up with that, but I cannot find the source at the present moment.)

Even just purchasing the EBT is a monumental achievement. Mr. Kovalchik is a savvy businessman and he drives a hard bargain.

Capt. Woolf's benediction for the Lynton and Barnstaple rings true yet again: "Perchance it is not dead, but sleepeth..."

Philip Marshall

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #6 on: February 14, 2020, 04:41:50 PM »
This is excellent news, truly the best outcome that could be hoped for. I agree, how the foundation is structured and funded is going to be the key to making it all work. The Kovalchicks have been devoted stewards of the railroad since the 1950s, but the private ownership of the EBT had long been an obstacle to potential donors and collaborating institutions, who were understandably reluctant to throw money at  someone else's private property. Now that the railroad is held by a non-profit foundation I am hopeful that money and resources will begin to flow.

Wayne Laepple

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #7 on: February 14, 2020, 04:57:50 PM »
I am still in shock about this, even though I was there today and heard what is planned from the sources. Once I have recovered, I will write a bit more. Suffice to say this is the best possible outcome for the East Broad Top.

John Kokas

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #8 on: February 14, 2020, 10:15:48 PM »
Hopefully Wayne, you can give us all a presentation of what has happened during SWW.  We'll be all ears!
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Joe Fox

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #9 on: February 18, 2020, 09:27:58 AM »
This is indeed amazing news. Here is to hoping for the best for them. I have just joined the Friends of the EBT, and hope many others do as well. $35 for an annual membership. I have always had a love for the EBT, and will be going down for a visit as soon as they resume normal operations. I've only been once back in 2012, but have seen countless video productions, pictures, etc of the EBT. Some of you may remember when Lee Rainey was able to attend our Spring & Fall work weekends. He was able to provide countless stories of the EBT to anyone who cared to listen.

Ed Lecuyer

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #10 on: February 18, 2020, 10:44:19 AM »
I have just joined the Friends of the EBT, and hope many others do as well.

Same on both counts. I always intended on join, but this announcement made it a no-brainer.

The FEBT appears to share very the same camaraderie and passion that we have at the WW&F. If you have a chance, listen to Nick Ozorak's plea at the end of his most recent The Roundhouse podcast (an interview with the EBT's new GM, Brad Esposito) as he describes what being a part of the FEBT is like.
https://theroundhousepodcast.com/2020/02/14/090-east-broad-top-being-restored-to-operation/
Ed Lecuyer
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James Patten

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #11 on: February 18, 2020, 01:04:24 PM »
It sounds like the EBT Foundation is not a membership organization.  It would make sense to me to become a member of the organization that's purchased the property, so that you could directly support that effort.  It's unclear to me how becoming a member of FEBT directly supports EBTF.

Alan Downey

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #12 on: February 18, 2020, 01:14:39 PM »
I listened to the episode of The Roundhouse, and it sounds like the newly formed EBTF will still rely and work closely with the FEBT. It seems that the EBTF views it's role as the operating , management, and fundraising organization, and wants to work with the Friends to be the source and core of the volunteer base to continue and expand on the work that they have been doing. It's an interesting approach which seems similar to the way the C&TS is set up.
« Last Edit: February 18, 2020, 01:16:44 PM by Alan Downey »
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Ed Lecuyer

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #13 on: February 18, 2020, 01:24:03 PM »
Alan is correct (as best as I understand it) - they are specifically implementing the "C&TS + Friends of the C&TS" model. It's kind of like the WW&F/W&Q relationship, too, I suppose.

That said, the EBT Foundation (new non-profit) specifically says on their web page:
Quote
Perhaps you’re fortunate enough to be able to make a larger contribution. We’d love to talk with you about opportunities to sponsor essential equipment — a new water system for the locomotives, for instance, or new passenger cars. Contact Lawrence Biemiller with your ideas!

So, if you want to be a "big donor", the EBT Foundation wants to hear from you. Us "day-to-day" supporters are encouraged to participate via the Friends of the EBT.
Ed Lecuyer
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Philip Marshall

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Re: EBT is SOLD! New non-profit to open RR in 2021
« Reply #14 on: February 18, 2020, 02:47:53 PM »
I also listened to The Roundhouse podcast episode Ed mentions, and Brad Esposito specifically compares the planned arrangement to the C&TS and the Friends of the C&TS, so it's clear that's the model they have in mind.

One difference I suppose is that the FEBT does have a small ownership stake in the form of the Robertsdale depot and several pieces of rolling stock. I'm not sure if the Friends of the C&TS actually own any equipment, but I don't think so.
« Last Edit: February 18, 2020, 02:53:42 PM by Philip Marshall »