Get new sails sounds like step one.... But other than that there were several Hughes that were 31 feet. The IOR derived is marginally suited to racing under PHRF, the 31 footer that was previously produced by Columbia would be pretty hard boat to race competatively.
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Curmudgeon at Large- and rhinestone in the rough, sailing my Farr 11.6 on the Chesapeake Bay and part-time purveyor of marine supplies