The 'Karrabee' at Rozelle Bay being restored for a floating restaurant.The Karrabee, the Urban Transit Authority's ferry which sank after the Festival of Sydney race two years ago, may be about to embark on a new life. The plan is to take the 73-year-old

The 'Karrabee' at Rozelle Bay being restored for a floating restaurant.The Karrabee, the Urban Transit Authority's ferry which sank after the Festival of Sydney race two years ago, may be about to embark on a new life. The plan is to take the 73-year-old ferry to Gosford and turn it into a 250-300 seat restaurant. It will be enclosed within a three-sided jetty accessible from the shore.After the findings of the Karrabee inquiry, which showed negligence on the part of the UTA and the Maritime Services Board, the ferry was sold, with its sister the Kameruka, for a total of $2,000. May 20, 1986. (Photo by Brendan Read/Fairfax Media via Getty Images).