I don't know anythig about the histopry but any vintage obstacle is worth saving in my eyes.
As for the new plans there is no point in stairs in a skate park, they are all over the place, but skatepark obstacles aren't. Replace it with a flatbank or a quarter and you can still jump off the top to flat if that's your bag, but at least with a quarter or flatbank you get something more to ride and they are cheaper than stairs to build!