With huge increases in minimum wage, increasing expenses related to repairing, replacing and maintaining facilities, and rising water costs, along with the contempt action, sanctions, and order, and after exploring all other options, there was no other possible decision. There are many unknowns associated with a conversion to Chapter 7. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. Joining the Continental Country Club HOA is the easiest way to protect your property's value! Get Adobe Acrobat Reader free to view these files. Ballots go out June 28th, and need to be mailed or returned in-person, Owners who do not return an absentee ballot will be allowed to vote in person at July 30th special meeting, We must reach 60% of quorum (or participation of homeowners in the vote), 2/3 of those voting must vote yes on BOTH ballots for it to be approved, Results announced in special meeting of the members on Saturday, July 30th. The Lakeside Homeowners would lose as much as any other owner would if the bankruptcy ended in a liquidation.. 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. There has been much misinformation about the history of Lake Elaine and the ability to maintain lakes in this area. 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. An HOA faces bankruptcy because of its man-made lake. 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. Continental Country Club Ro, Wildwood, FL - HOA Board, Property Mgr Is there a Special Assessment Payment Plan? Email notifications are only sent once a day, and only if there are new matching items. Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. The question is why. 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. Home to one of the best-rated public golf courses in Flagstaff, AZ. We don't yet know what the ultimate effect of that bankruptcy will be on the finding of contempt or on the long-term future at the lake. CCC also had a balloon payment due in October, for $600,000. The January newsletter provided to homeowners did reference that bankruptcy was an option that was being considered. Please subscribe to keep reading. Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. These dates are on the listed, 6/28: ballots on the two fees required to support the reorganization plan will be mailed to members, 7/30: Special Meeting of the members to vote and certify the count, 8/4: Initial Confirmation Hearing in the Bankruptcy Court. The fee had been set to begin at the start of February, . Our clubhouse is over 50 years old and the other amenities require maintenance and repair. Pennsylvania - Wikipedia At the time, it was an asset to the HOA. 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. Sign up for our newsletter to keep reading. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. 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. Board Members for Continental Country Club Ro: Title Name Mailing Address Location; Dire . Register for our eClub to receive regular offers and updates from Continental CC! A Flagstaff man is behind bars, charged with aggravated DUI and kidnapping. A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. 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. A big vote is underway at Continental Country Club in East Flagstaff. The perceived pattern of mismanagement plays into the perspective put forward in court by the suing class of lakefront homeowners the Lakeside Legionnaires as they call themselves. Then, you've come to the right place. The owners of these properties are also obligated to pay annual assessments to CCC based on their respective CC&Rs. Continental Country Club Who are the members of CCC? The Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. That would be within the discretion of the trustee. 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. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! The Court also imposed on CCC a $700/day fine until water began flowing into the lake at which point the fine would be reduced to $500/day until the lake was filled. Log in, Continental Country Club HOA in Flagstaff, AZ, Forest Highlands Golf Club HOA in Flagstaff, AZ, Railroad Springs Townhomes HOA in Flagstaff, AZ. Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. Back then, the increase had to be approved in each single-family subdivision. The Continental Country Club constructed Lake Elaine back in the 1970s. When were the clubhouse and clubhouse pool built? Bliss said after the court held the HOA in contempt last year, the homeowners approached the HOA about ways to move forward, but their offers were rebuffed and the HOA decided to move forward with bankruptcy instead. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. Subscribe to our Daily Headlines newsletter. Were voting for a smaller cost now ($2,000 to cover the $2.5M), to protect ourselves from possible larger costs later, unending litigation and the $15 million claim of the LFOs that could not be addressed any other way outside of bankruptcy, to protect our amenities and eradicate Lake Elaine issues. Voting to approve these additional funds ends July 28. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent In a Chapter 7 does the trustee manage the HOA? 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/. . 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 . Held said the repairs the lake needs would cost more than a million dollars in addition to the water needed to fill the lake and that the HOA simply has not had the funds to complete such repairs. The hoa policies can change with time for Continental Country Club so if you see an error please contact us so we can fix it. The benefits are endless and your experiences will last a lifetime. Wildwood, FL 34785. Background: How did we get in this situation regarding Lake Elaine and the Bankruptcy? Continental Country Club HOA in Flagstaff, AZ - HOA Resource If Option B is selected, the redesign will be the Associations responsibility. We are located on St Rte 44 just 2.5 miles east of Brownwood Buying and Living in Continental Country Club - Best Flagstaff Homes A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country clubs homeowners association and other residents. But some lakefront residents on the other side of the legal battle have a different perspective. Now, it has turned to owners for funding. But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. 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. That's not true. 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.. Selling the golf course is not legally a feasible option until we emerge from Chapter 11 bankruptcy. There is a one-time special assessment of $2,000. A Big Vote Is Underway At Continental Country Club The first payment would be due the same day as the due date for the special assessment. We view this as an action being led by forces out of our control and hope it can be an opportunity to strengthen our Associations financial position for years to come. Flagstaff City Championship Flyer One thing to remember, you will be required to pay additional Home Owner . Continental Country Club Resorts, Wildwood Real Estate & Homes for Sale 13 Homes Sort by Relevant Listings Brokered by Four Star Home Brokers, Inc. For Sale $180,000 2 bed 2 bath 1,056 sqft 6,711. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. Copyright 2023 Continental Country Club FL All Rights Reserved. Why didnt the Board give us a warning that this was going to happen? Continental Country Club's HOA files for Chapter 11 bankruptcy If Option A is selected from the Amended Disclosure (not expected) then the property will be deeded to the Lake Elaine Owners and become, If Option B is selected, the redesign trails and ponds will be the responsibility of the Association and. The Social Membership is ideal for those living in the area that desire a place to enjoy the company of family and friends and meet other members of their community. Are you looking for a great 55+ retirement community? Continental Country Club has 2,395 owners. 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. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone, One we will all remember: Flagstaff sees second-snowiest winter in recorded history to date, Trees also feeling effects of winter storms in Flagstaff, Driver arrested for DUI, kidnapping after hitting a Flagstaff police patrol vehicle, Flagstaff History: Powwow is a 'go' for summer, Flagstaff Eagles win first girls basketball title in 31 years, The experience for jurors in Coconino County is changing, Letter to the Editor: Local pleads to city to put foot down on short-term rentals, Investigation underway after body found near Sunset Crater National Monument, Flagstaff schools planning to make up instructional time after this winter's snow days, Flagstaff and Summit Fire crews battle Baderville house fire in a blizzard Thursday night, KFC is bringing back a fan favorite after a nearly 10-year hiatus, Former NFL star Chad Johnson says he saved money by living inside Cincinnati Bengals stadium for 2 years, Another winter storm to drop 14-22 inches of snow on Flagstaff, northern Arizona, Global race is on to improve EV range in the cold, Moscow reportedly threatened new parents in Ukraine: Register your newborns as Russian or else, The impact of climate change will be felt worse in these three U.S. cities, Scientists reveal hidden corridor in Great Pyramid of Giza.