The word that comes to mind when I look at that picture is, "Ka-Ching!" It's going to be an expensive fixer-upper. I guess I'd call it a TourEasy clone, using cheap 27" wheels from a 1975 department store bike, a saddle/backrest combo from a Huffy Venice, and an old ashtabula crank, probably from the same dept store bike that donated the wheels. "Shop built" must mean someone with a welder built it in their garage.
To get out of this as cheaply as possible, I would contact AD Carson at
Recycled Recumbents. He can get you into a seat, and may be able to help with handlebars too.