By Brent Bosker

Rising Stars not ready to turn over house just yet

Jul 5, 2011 | 6:25 AM

The children’s group behind a failed group home wants make sure its debts are fully paid off before it dissolves.

After exhausting all options to open the 10-bed group home near Prince Albert, Rising Stars Children’s Ranch announced earlier this year it would abandon the project and turn the property over to the bank.

But the board is now delaying that decision in hopes they can sell the property located in the Rural Municipality of Prince Albert.

The decision to reconsider is based on advice from their lawyer, said Jeff Bergen, the board’s treasure.

“If we simply turned the keys over to the bank, they would be under no legal obligation to take over our liabilities,” he said, explaining the board still has some unpaid bills in the community.

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“We wanted to make our best efforts to make sure we could pay those bills.”

Selling the home would be the best case scenario, Bergen said. “I mean the house is worth a lot more than what we have it mortgaged for.”

Although he would not disclose the exact amount owing, Bergen said the board is carrying a mortgage in excess of $500,000.

The home has been up for sale since March and Bergen isn't sure how much longer the bank will give them. “The issue is that there is going to be a pretty limited market for that type of house.”

The home which was built using provincial funding, has been turn-key ready since last summer, but has sat empty because the municipal council refused to the give the group a permit to operate.

“It’s a sad end to a sad story” said Bergen.

See previous stories: Rising Stars shine no more

bbosker@panow.com