The Municipality of Oliver Paipoonge is taking over the Founders' Museum and Pioneer Village.
The Founders Museum Incorporated has decided to dissolve the corporation and a liquidator has been hired to determine who the museum owes.
Oliver Paipoonge Mayor Lucy Kloosterhuis said once that's been determined, the municipality will pay those debts and then take over the operation of the museum.
In November 2013, the museum's board members resigned over concerns they would be financially or legally liable for actions taken by previous boards.
It was reported the museum had $45,000 in unpaid bills and there were some missing artifacts.
Kloosterhuis said the corporation couldn't find the money to pay those debts so the municipality will take those on and keep the museum open.
"It's a real asset to the community and there are so many wonderful things for people to see," she said.
Grant Thornton Limited has been hired as the liquidator and they're asking all creditors and claimants of the Founders' Museum make themselves known by May 5.
Kloosterhuis said they were told all the paperwork should be done by July 1 and the hope is the museum will be back open to the public sometime this summer.
They already have a large group of volunteers ready to clean the buildings and make sure everything is in place to reopen the museum.