The keel on the Bayliner Buccaneer is molded as part of the hull. It is not attached to the boat, it's part of the boat. It's a shallow keel. During the building process, a 1250 pound lead weight is lowered into the keel space and glassed into place. A thick covering is then glassed over it, and flotation safety foam sprayed on top. Then the sole is glassed in over that.
I've torn out most of the sole and removed all of the flotation foam. I've exposed the top of the keel which was been sealed in with fiberglass as I mentioned. After inspecting the hull under the sole, and the condition of the top of the keel I've decided not to pull out the keel weight to repair the hole underneath it. The glass and surrounding structure is very solid and there are no signs of rot. Removing the keel weight and repairing the hole from the inside would be the way to do it if I were going to keep the boat another 10 to 20 years, but I'm not. Additionally, this is a 30 year old 24 foot Bayliner, it's just not worth putting that kind of time, money and effort into it. So the keel will be repaired from the outside. I'll go into more detail on how this will work later.
Here is a photo of the cabin before we started removing the floor
The above photo is a view of the vee-berth from the galley. You can see where the previous owner removed the decking in the vee-berth and pulled out some of the flotation foam. This was to get at the fresh water tanks that were thought to be leaking.

The above image was taken after most of the floor and all of the flotation foam was removed. This is the cavity under the sole that is filled with foam. I've cut through part of the glass for inspection purposes. Just underneath that 1 inch thick fiber glass is the keel weight. The glass helps keep the keel weight in place and attached to the hull. I'll be adding several layers of 12 oz. biaxial glass tape along the insides of this cavity for additional support before I put the floor back in. Then new flotation foam will be sprayed in.
Although I do not have pictures of it at the moment, the boat is high up on blocks and off of the trailer. It is under a large plastic tent, which totally encloses the boat to keep moisture out. The next step is to repair the keel from the outside. We've started sanding off the entire bottom paint job. On the keel, we'll sand everything off all the way down to the glass. Any weak spots will be repaired with cloth and/or epoxy if needed. All blisters will be ground down to the glass and repaired with thickened epoxy. The keel damage will be repaired by grinding out the crack and shoving thickened epoxy into it. Then the entire keel will be sanded to the glass and covered with 1708 glass cloth, then epoxied with several layers of epoxy.
I hope to have the hull (below the waterline) glassed and totally repaired and prepped for painting by New Years Eve. Then it'll be primed painted soon after with Interlux Micron anti-fouling paint. After that we'll start working prepping the outside of the hull for painting above the waterline.
I hope to post again soon.