And here I thought it was a crank-start system for the engine like in those old Ford Model-Ts of long-ago.
Serious though, that looks like a very nice project you have ahead of you. Keep us posted on your refurbishing progress. Wish I could find freebies like that, would be fun to do some tinkering and reconstruction projects like that myself.

Have fun, that's the main thing. I imagine it won't cost any more than doing a kit from scratch. And as you stated, you have plenty of time on your hands so what's the hurry? Do a bit at a time as you can afford it. Just remember post lots of pics as it progresses.