'I think it needs somebody with passion who has a new vision to take it forward, whether it be an individual or a community,' said Rasputin's owner Dean Verger. (CBC)An Ottawa café that has hosted folk musicians for more than 25 years will close following a fire nearly three weeks ago.

Owner Dean Verger initially planned to raise the money to reopen Rasputin's Folk Café on Bronson Avenue, a block north of Carling Avenue, after the fire on July 8.

The blaze seriously damaged the building and destroyed contents valued at $30,000. Only one-third was covered by insurance, but Verger said that wasn't the issue.

"The ability to raise that money from everybody's generosity would have been actually quite easy," he said Monday.

But he said after thinking about it, he decided he is ready to retire and move on to other things, as he has never had time to spend with his family and the café consumes so much energy.

The café was famous within the folk music community for its open-jam sessions. (CBC)He added that he thinks rebuilding it would be a more suitable project for someone younger.

"I think it needs somebody with passion who has a new vision to take it forward, whether it be an individual or a community," he said.

The café, which was famous within the folk music community for its open-jam sessions and providing a launching pad for local artists, celebrated its 25^th anniversary in 2006.

Arthur McGregor, owner of the Ottawa Folklore Centre, praised Verger for having kept the business going for so long.

"As far as Ottawa losing a grassroots folk venue, it's extremely unfortunate," McGregor said.

He said the café is a much-needed, one-of-a-kind venue and won't be easily replaced.