Mayor Jon Mitchell says the announcement that two philanthropists have agreed to donate $2.8 million for a complete restoration of the schooner Ernestina is good news for New Bedford and the Cape Verdean community.

Gerry Lenfest and Robert Hildreth are the doners.

Mitchell told WBSM News, there had been some dispute over whether the name of the schooner would be changed, once the restoration is complete....

A formal announcement about the donations is expected to happen in a few weeks.

The restoration could take two or three years. Once finished, the vessel is expected to remain in New Bedford during the summer, serving as a floating classroom and tourist attaction, and moved to Mass. Maritime Acadamy in the winter for use by students there.