Local News

Facility remains open … for now

Gary Pinnell | Highlands Today
Published: September 4, 2012

SEBRING - The owners and operators of Highlands Village Assisted Living have negotiated for another year, Anthony Lomonico said last week.

In June, Circuit Court Judge David Langford was asked to decide on a motion to appoint a receiver for the facility at 2301 U.S. 27 S., which cares for mental health residents who can't care for themselves.

"These people have nowhere else to go," Deb Hearin, Highlands Village's administrator, said in June. "Some of them are homeless. We take people from the state hospital. Sometimes we get them directly from the jail."

At issue was whether Mission Oaks National Bank of Temecula, Calif., has promised to extend a $241,377 balloon payment, which was due Oct. 13, 2011.

Neil Nepote, a senior vice president, told the judge that a $1,200 payment was made in January. However, under questioning by the bank's Orlando attorney, Mary-Beth Valley, Nepote said he had not heard promises from bank officers to extend the loan.

Hearin and Valley were to meet with Judge Langford again in July, but Lomonico said the bank has agreed to extend the loan for two years, about one year of which is already gone.

If the facility falls into receivership, Hearin believes the receivers will evict the residents, close the facility and sell it. She told the judge that the business is only worth $300,000, but the land has appraised for $1.1 million.

Lomonico and Hearin said they've tried to arrange new financing, but local banks won't loan money at this time.