In December of 2015 an idea was proposed to have a chapter build of an RV-12 for members of the chapter. It was to be funded through member donations and certain matching donations. By the end of January of 2016, we had donations totaling more than eight thousand dollars. We ordered the empennage kit and were off and running. By April of 2016 we placed the order for the fuselage kit as many members became involved and the airplane continued to take shape.
Construction continued through the end of 2016 and donations continued to come in and in January of 2017 we were able to order the wing kit. Work continued on and as the wings were nearing completion, we were able to order the finishing kit in August. Work continued on the finishing kit until recently. Unfortunately, the donations have stopped and we have not been in a position to order the remaining kits to complete the airplane.
A couple of months ago the BOD voted on a motion to do one of two things with the RV-12. We set the overall price of the plane at seventy-three thousand and four hundred dollars. One option was to have a club form that would provide the money to the chapter to order the remaining two kits, an amount of approximately fifty thousand dollars. Once the airplane was complete, its ownership would be transferred to the flying club and they would begin to pay the remaining twenty-three thousand and four hundred dollars back to the chapter over a three-year period at zero interest. John Post decided to take the lead on putting the flying club together and began to speak to folks that had indicated an interest in being part of the club. Although interest was expressed, money was not put forward.
The second option was to sell the airframe as is to a third party for the amount of twenty-three thousand and four hundred dollars. This would bring money back to the chapter and we could decide whether to pursue a different project or to do something else with the money from the sale. To that end, we have been advertising in Barnstormers and are hopeful of getting an ad in Trade-A-Plane soon.
Work on the plane has ended at this time. There is still an opportunity to fund the flying club and complete the airplane. That would be dependent on four to eight folks coming forward with capital necessary to order the remaining kits and complete the airplane. I would love to see this happen, if possible, but we will continue the effort to sell to a third party.