What about the special assessment or other fees? Sign up for our newsletter to keep reading. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. This one-acre park, opened in 2013, includes a playground with a swing set and a picnic table. We have the receipts. Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. There are no positives., Dissatisfied as the Legionnaires might be about the current state of Lake Elaine and Continentals proposed solutions, A successful vote is actually in everyones best interest, said Legionnaire and lakefront resident Tim Harrington in an email to the Arizona Daily Sun. https://continentalflagstaff.com/what-if-our-members-dont-approve/. Continental Country Club Files For Chapter 11 Bankruptcy, Will Stay The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. The trustee is appointed to liquidate and pay, not operate. Continental Country Club's HOA files for Chapter 11 bankruptcy Adrian Skabelund Feb 17, 2021 Updated Mar 24, 2021 0 Cracked limestone makes up the karst geologic formation beneath a worn-out. There are a lot of different options when it comes to housing in Continental Country Club. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. In a media release, the HOA board seemed to attribute most of their problems to recent legal action over Lake Elaine, a man-made lake within the country club that has been the center of controversy for years. Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. There is no definite date as to when the clubhouse pool was built; however, there is a 1979 photograph showing the pool and the two adjacent tennis courts. . There are many unknowns under Chapter 7, which could include part or all of the current $15M bankruptcy claim from the lakefront owners and loss of amenities while still paying for them. Indeed, in a letter to HOA members, Held said the organization also has a $600,000 balloon payment on a loan taken out in 2011 for the installation of a new irrigation system. Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change. Main: (928) 526-5125Oakmont: (928) 526-7990Golf Shop: (928) 527-7997Bear Paw: (928) 522-1588, 2023 CONTINENTAL COUNTRY CLUB ALL RIGHTS RESERVED, Violation Enforcement Policy and Fine Schedule. Continental Country Club HOA Chula Vista, CA Before buying in Continental Country Club HOA you will want to check out their reserve funds, budgets, bylaws as well as the rules and restrictions of the community. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! What is the process required to divest the HOA of Lake Elaine? In 2006 Continental Country Club succeeded in unifying (11) different sets of CC&Rs for individual single-family subdivisions. It was approved in some subdivisions, but not in others, as some subdivisions expressed strong discontent with increasing the assessment because they did not see value in the use of amenities. 219 4. Book Your Tee Time on our EZLinks tee times page in a new tab, In addition to championship golf, we offer tennis courts, a fitness center, a swimming pool and social events! Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. The question is why. Posted about 2 hours ago $2,950 / 3br - 1145ft2 - Beautifully remodeled 3bed,2bath in Green Mountain home!1 WEEK FREE* (461 S. $3,875 / 1br - 682ft 2 - One bedroom home with vaulted ceiling and balcony . Pennsylvania (/ p n s l v e n i / (); Pennsylvania German: Pennsilfaani), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States.It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of . The funds usually have strict criteria for how they are to be used. The question is why. We do think that if we are unsuccessful in approving the fees necessary to support the reorganization plan, there will likely be a negative effect on property values with the reduced or possible loss of amenities currently enjoyed by HOA members including golf course or driving range, tennis or pickleball courts, swimming pool, clubhouse and Bear Paw Recreation Center. View Properties for Sale at Continental Country Club located in There are approximately 1,360 single-family homes (in addition to 1,030 townhouses, condos, and timeshares) within the Continental Country Club Homeowners Association. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. Number of Units: 973 Offices of the Board of Directors and their Duties The officers of the board of directors are generally president, vice-president, secretary, treasurer and member at large. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. By 2026, the annual dues increase will be $189. Log in, Continental Country Club HOA in Flagstaff, AZ, Forest Highlands Golf Club HOA in Flagstaff, AZ, Railroad Springs Townhomes HOA in Flagstaff, AZ. There are many types of townhomes available from $300,000 - $500,000. Not only did the reserve study show that Continental had some monumental expenses coming up including a $600,000 balloon payment due in 2021 but that to reach a recommended level of roughly $5 million in reserve funds by 2050, Continental would have to start making massive annual contributions to the fund ranging between $310,000 and $1 million a year. Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. But [Continental] withdrew from those discussions and instead filed for bankruptcy., One of these flexible options that the Legionnaires indicated would be acceptable to them is a plan to refill Lake Elaine to a lower elevation below where a majority of the lakes liner failure and leaks have been occurring. If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. The Continental Country Club in Flagstaff is bankrupt. ", The issue is further complicated by the fact that Continental and the Legionnaires cant seem to agree on how much it would cost to repair and maintain even a small lake option. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. Make sure there is an adequate amount in the reserves in case of major problems such as: roof repairs, asphalt repairs, pool issues and/or property defects. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? The Lake Elaine lawsuit was based on a 1990 Amended Judgement and Settlement that was rejected by the bankruptcy court earlier this year. Subscribe to our Daily Headlines newsletter. I just see that as being poorly managed, Penoff said. Get up-to-the-minute news sent straight to your device. View Properties for Sale at Continental Country Club located in Wildwood, FL. Continental Country Club HOA Chula Vista, CA There was a problem saving your notification. Home to one of the best-rated public golf courses in Flagstaff, AZ. How will this affect the value of my home? How do timeshares fit into the funding picture? The Board had to consider how it could meet the obligations and fill the lake to a level that, according to experts, has never been sustainable. HOA Documents Articles of Incorporation CC&Rs Bylaws Membership Policies Based on the HOAs rules, those fees can only be raised by a two-thirds vote by all members. Starting in 2024, associate members would owe an additional $63 for 2024, 2025, and 2026. Continental Country Club HOA in Flagstaff, AZ - HOA Resource The January newsletter provided to homeowners did reference that bankruptcy was an option that was being considered. 4530 Red Fox Ln, Flagstaff, AZ 86004 | MLS# 192424 | Redfin Deeper into Lake Elaine: Residents contend lake is not to blame for Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. They say Lake Elaine can be fixed, and that Continental can afford it but is using bankruptcy to shirk legal obligations established in 1990, suggesting that the Lake Elaine issue is being used to distract from a bigger issue: decades of financial mismanagement. In the same newsletter, Murray quoted Patrick A. Clisham of Engelman Berger, the legal counsel to Continental Country Club, as having said Chapter 7 means chaos. Held says the work would take time and millions of dollars. Option #1 would be to deed the land to the 52 lakefront owners and pay them $2.5 million to repair and maintain the lake in perpetuity. And its free! Continental Country Club Continental Country Club Website Continental Country Club Townhomes and Condos Property listings 1 - 2 of 2 1 Sort by: Open House $320,000 MLS # 192269 1 Bed 1 Bath 745 Sqft Status: Active Condominium 2650 Valley View Drive Unit 226 Flagstaff, AZ 86004 $465,000 MLS # 191389 2 Beds 2 Baths 1,387 Sqft Status: Active Townhome It has asked residents to vote to approve a $2,000 special assessment payment and a 20% increase in annual dues to help the country club emerge from bankruptcy and turn Lake Elaine into something less costly. You have permission to edit this article. We have developed such a plan and are confident that if our members approve the two fees to support it, we will take a big step towards a better future for our Association, https://continentalflagstaff.com/things-to-know-the-continental-country-club-reserve-study/. The Trustee is charged with maximizing distributions to creditors. That would be within the discretion of the trustee. The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? It is not clear how the bankruptcy might impact the Lake Elaine issue, but Bliss said it could lead to a situation where the HOA is able to eliminate the lake but pay the surrounding homeowners for the reduced value of their homes. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. Before buying in Cont Country Club HOA you will want to check out their reserve funds, budgets, bylaws as well as the rules and restrictions of the community. The reason for the increases are due to ongoing financial concerns involving Lake Elaine, a $600-thousand balloon payment due regarding irrigation of the golf course and ongoing deferred maintenance to some of the amenities. Our members are what makes the social membership so special. Bliss said the HOA also has lots of deferred maintenance fees, while also having some of the lowest member fees in the state. Continental Country Club's HOA files for Chapter 11 bankruptcy (AZ) Why did the Board decide to take this step now? The Continental Country Club constructed Lake Elaine back in the 1970s. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). Please notify the Association in writing prior to the special assessment due date if interested in the payment plan, The timing for implementing the reorganization plan depends on the association receiving the funds when they are due, thus the 5% interest charge. application fee details: $55 app fee online at our website bishoprealtygrp. Why are there currently some members paying different assessment rates? Flagstaff, Feb. 12, 2021 - Continental Country Club is a great place to live and provides many amenities for the broader community. Welcome to Anthem Community Council Our clubhouse is over 50 years old and the other amenities require maintenance and repair. What happens if 2 YES (APPROVE) for Special Assessment and Annual Dues Increase? Come see us today! This would include 4-5 ponds, walking trails, benches, limited parking and would be open to, With either option, and assuming successful confirmation of our reorganization plan by the bankruptcy court, we have no ongoing legal obligation to continue any litigation from lakefront homeowners. The owners of these properties are also obligated to pay annual assessments to CCC based on their respective CC&Rs. Caractersticas Helly Hansen Arctic Patrol H2Flow Parka. Contenido de In the mean time the proshop will still be open Tuesday- Saturday 9am-4pm. The lake level has been falling because water is seeping out despite previous attempts to seal the lake bottom. The Coconino County Superior Court agreed, and for this reason found the Association in contempt of the 1990 Judgment, imposing daily sanctions to encourage compliance. Continental Country Club has 2,395 owners. Search And Rescue Crews Tended To An Injured Hiker On Mt. Chapter 11 Filing FAQ - Continental Country Club The required work would require Engineers, Contractors, and time. Ensure continued use of our club amenities and environment. In their amended disclosure statement, the Legionnaires claim the trouble with Lake Elaine is not that its impossible to maintain, but that the Association [Continental] has simply failed to perform any real repair or maintenance of the Lake for nearly 30 years. They say their perspective was upheld in 2020 by the courts, noting that [Continental] argued then, and argues now, that it does not have enough money to fund Lake Elaine repair, but that did not persuade the Coconino Superior Court, which concluded that the Association knew it had a responsibility to maintain the lake but failed to do so. Join Us Today learn more on our membership page, Outing services feature green fees with cart, personalized cart signs, local rules sheet and much more. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. Please subscribe to keep reading. The Court further concluded that failure to plan did not equate to an inability to comply., While the Legionnaires do not deny Continentals precarious financial situation, they dont think it inhibits or excuses them from upholding legal obligations surrounding Lake Elaine. junio 12, 2022. jonah bobo 2005 . That's not true. Hobby Shop Temecula - kbstricks.it The Class has been very willing to work with the Association to negotiate an equitable solution that would allow for a temporary repair of the Lake as part of a holistic approach to address the Associations broad financial challenges. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. Under the option, it would deed the Lake Elaine footprint to the lakefront owners and provide them $2.5 million raised from the proposed $2,000 payments so that the Legionnaires can implement a smaller lake or any other solution the Lakefront Group determines is appropriate with the resources available, and thereafter, maintain such improvements as they deem fit with no further contribution from [Continental] or its broader membership., Based on their statement, the reason Continental wants to sever their responsibility for maintaining Lake Elaine has to do with their skepticism that a long-term, sustainable lake is possible. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. We will keep our facilities open and our employees will be working to ensure business as usual. He recalled clear statements in meeting minutes from Continentals board of directors meeting that the reserves were significantly inadequate back in 2014., There was no follow-through, and the reserves are still woefully inadequate, Nilsson said. In 2017, residents came back and asked the court to hold the HOA in contempt for not following through on its mandate to keep the lake full. https://continentalflagstaff.com/motion-to-reject-1990-agreement-granted/. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! It has not been a normal winter in Flagstaff. He is a big sweetheart but a little too rough for my Pygmy Goats. The Social Membership allows you access to all the Club's amenities and provides the opportunity to take part in our extensive calendar of social events, Whether you plan to use Flagstaff as your home base or your vacation get-away you will not regret calling this home! CONTINENTAL COUNTRY CLUB RO, WILDWOOD FL HOA Board, Property Mgr Much of these claims of mismanagement are founded on an October 2020 Reserve Study of Continentals reserve fund to evaluate how it would maintain reserves above an adequate, not excessive threshold during one or more years of significant expenditures.. Do all members of the HOA get to vote for the new HOA Dues and Special Assessment? Kroger Near The Villages FlView My Lists Kroger Pay. Find 1036 listings In 2020 Continental knew it had some big expenses coming up, and the study was designed to help it figure out how to keep money in the bank. The timing will depend on whether or not our members approve the two fees necessary to support the reorganization plan and the legal processes that will ultimately approve our reorganization plan. There are constant ongoing repairs and improvements required for these assets that must be addressed. The following is a statement from Lakeside Homeowners At Continental: Continental Country Clubs Financial Challenges Result From Failure to Plan and Confront Obligations. The CC&Rs govern 1,210 single family homes. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. . Multi-Unit Information Community Amenities: Clubhouse, Golf, Pool/Spa, Tennis Court Parking Information Garage Type: Garage Door Opener Garage Type: Garage Capacity: 7.00 Homeowners Association Information HOA Fees: 550.00 HOA Frequency: Yearly HOA Name: Continental Country Club HOA Contact #: 928.526.5125 Continental Country Clubs HOA files for Chapter 11 bankruptcy. In their disclosure statement, Continental says they are informed and believe that the Lakefront Group has separately evaluated [the small lake option] and has concluded that the costs of implementing [this option] are significantly less than [Continentals] $3 million estimate, but discussions between the parties to date have not been able to reconcile these differences., In either case, to the Legionnaires, being handed the deed to the lake is not an attractive option, and it asks the lakefront owners to take on the problem that [Continental] created. What they want is for Continental to take responsibility for the lake repair and also pay some money toward the Lakeside Homeowners attorneys fees which are damages that the Lakeside Homeowners have suffered as a result of [Continentals] rejection of the 1990 Settlement Judgment.. Meeste parka Helly Hansen Continental XL UUS. A member may cease paying in protest, but the trustee will ultimately have the same rights CCC currently has to enforce and compel payment ultimately filing a lien on the property and foreclosing. Membership in Continental is a result of home ownership. Continental Country Club Homeowners Association, Wildwood Florida The fee had been set to begin at the start of February, . Continental Country Club | Continental Country Club Mobile Homes There are many unknowns associated with a conversion to Chapter 7. 4927 E Mount Pleasant Dr, Flagstaff, AZ 86004 - Redfin That's not what any of our folks want. One major reason is due to an October 2020 ruling that the clubs homeowners association must repair and refill Lake Elaine after leakage from the lake was discovered. These properties have individual property management companies who handles their CC&R enforcement and day-to-day operation. These homeowners are known as Associate members. Continental Country Club - 34785 Real Estate - 3 Homes For Sale - Zillow No true repairs have been made to the Lake since 1994. Four Star Homes has Properties in Adult, Family, and Senior Communities throughout Central Florida. Payment $4,996 Price/Sq.Ft. Background: How did we get in this situation regarding Lake Elaine and the Bankruptcy? All owners of lots subject to the declaration are required to be members of Continental Country Club, Inc., per the recorded declaration.