Take #3 on the Bishop of Kansas City-St. Joseph's decision to put the Latin Massers in Old St. Pats is certainly less cynical than #2. It's simply that he can't trust anybody else to do it right.
Except for one or two ancient priests who ought to be enjoying their retirement in residence at a parish, just hearing confessions and saying Mass (but given the vocations situation are still in charge), there probably isn't an experienced priest in the diocese or enough refugee parishioners wandering around that can maintain--much less restore--Old St. Pat's. The Institute of Christ the King has a short but positive track record for restoring and revitalizing old churches. Their centerpiece is St. Mary's Oratory in Wausau, Wisconsin. They also rescued St. Mary's in Rockford, Illinois (so good that they caught the eye of historic preservationists, and Bp. Doran had to threaten to close it following the restoration to keep local landmarks commission from asserting jurisdiction). Bp. Finn's old boss, Abp. Burke in St. Louis, recently gave the Institute control over St. Francis de Sales in St. Louis (a beautiful church on the outside, based on my driving by at midnight one night after I missed my turnoff for I-70, and on the inside, based on a photograph on the ICK website). ICK is also working on a project in Chicago, I see.