There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. For HOA info, property manager and board member contact, HOA fees, maintenance requests, estoppel, complaints, HOA rules & regulations, documents, amenities, real estate purchase/sales, wind mitigation requests, and architectural/landscape committee. The Continental Country Club constructed Lake Elaine back in the 1970s. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. Payment $4,996 Price/Sq.Ft. 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. Now, it has turned to owners for funding. A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. I just see that as being poorly managed, Penoff said. We certainly are going to be involved in the bankruptcy proceeding and continue to assert our class action rights to have the lake maintained and repaired.. The . A draft reserve study has been received and is under review that shows that millions of dollars are needed over the next 10 years and through 2050. These homeowners - the "Class" - believe that the Association has options to address its financial challenges. The Ferraro Groups contract and the previous Cindy May Marketing contract are for the same amount. Will all country club members be allowed on the new redeveloped lake? Held says the work would take time and millions of dollars. For the good of our residents and those who enjoy our facilities, it was time to take action.. The reorganization plan imposes a one-time special assessment of $2,000. Becoming a member at Continental Country Club is an investment in yourself, your family and your future. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. 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. Mountain Home Craigslistidaho choose the site nearest you: boise; east Is it possible to leave the HOA so we're not part of it? Continental Country Club General Manager Talia Murray says if approved, the one-time assessment can be paid over two years by residents and HOA fees wouldnt go up until 2024 and increase over three years. She adds however, if the plan isnt approved, Chapter 11 could turn into Chapter Seven and assets within the club could be sold off to pay for the current debt. That could mean events like, the annual Easter Egg hunt, breakfast with Santa and Lights on the Lawn could be in jeopardy. Continental Country Club is a neighborhood in Wildwood, Florida. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. The benefits are endless and your experiences will last a lifetime. The special assessment will go into effect immediately and the annual dues increase, phased over three years, is estimated to begin in 2024. https://continentalflagstaff.com/planning-for-a-special-assessment-of-2000/, As the CC&Rs are currently written, townhome and condos have the right to vote on special assessments and on annual assessment increases of over 20%. Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. Chapter 11 Filing FAQ - Continental Country Club They might dispute the proper way to move forward with Lake Elaine, but they appear to agree that voting to approve the special assessment is necessary to help Continental emerge from bankruptcy. The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. Learn More on our tournaments page. Full members will pay $550 annually, Associate members will pay $365 annually, Likely negative impact on property values, $15 Million Lake Elaine dispute unresolved, unknown outcome of the Lake land. From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. 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. Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change. It is difficult to predict how the trustee will act, but generally speaking trustees wind up operations quickly after appointment and liquidate assets as fast as possible. 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. 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. Subscribe to our Daily Headlines newsletter. In a statement to the Arizona Daily Sun, Continental attorney Scott Cohen said, While Continental certainly has obligations other than the Lakefront Group, such as addressing its appropriate capital reserves to ensure proper maintenance of its amenities and common areas, this was not the primary cause for the bankruptcy filing.. Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? Property Type Single Family Residential HOA Dues $46/month Year Built 1985 Community Continental Cntry Clb Lot Size 0.29 Acres MLS# 192424 Price Insights List Price $849,900 Est. The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. Continental Country Club Home and Lot Sales, Long-Term & Seasonal Rentals Are Currently Handled By: Click on the Link Below to See the Available Homes For Sale www.FourStarHomes.com Click this Link for Rental Homes. https://continentalflagstaff.com/what-if-our-members-dont-approve/. Continental Country Club's HOA files for Chapter 11 bankruptcy (AZ) So, you know, we know that the association is trying to make this look like it's the bankruptcy is all about Lake Elaine, but the association has a number of financial problems, several of which are not related to Lake Elaine, Bliss said. Get Adobe Acrobat Reader free to view these files. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. What are we voting on, what is the timeline/details? In 1988, a group of lakeside homeowners filed a class action lawsuit against the HOA that mandated that the HOA should keep the lake full, but so far, no significant repairs to stop seepage have moved forward. 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 is a one-time special assessment of $2,000. There was a problem saving your notification. Buying and Living in Continental Country Club - Best Flagstaff Homes There has been much misinformation about the history of Lake Elaine and the ability to maintain lakes in this area. Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. But, in the 1990s, disaster struck. Flagstaff, Feb. 12, 2021 Continental Country Club is a great place to live and provides many amenities for the broader community. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. 219 4. The Continental Country Club in Flagstaff is bankrupt. Ensure continued use of our club amenities and environment. 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. CCC also had a balloon payment due in October, for $600,000. Continental Golf Course Is CLOSED for the Season! Print Subscribe Was this page helpful? As with any kind of public HOA restructuring, the CCC bankruptcy could create some market uncertainty on the impacted houses, however this kind of impact should be short-lived and was inevitable given CCCs financial condition and potential Lake Elaine liabilities that must be addressed under the courts recent preliminary ruling. As we now know, market conditions have been favorable for most of the real estate market, including our CCC properties. This included signage, team captain materials and t-shirts. Flagstaff City Championship Flyer The Trustee is charged with maximizing distributions to creditors. 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. Why are there currently some members paying different assessment rates? Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. The court ruled in October the man-made lake must be repaired and the association would be fined $700 a day until work started, then lowered to $500 a day until work was completed. Continental Country Club HOA in Chula Vista, CA 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. These membership tiers are subdivision specific. 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.. 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. Our members are what makes the social membership so special. We will keep our facilities open and our employees will be working to ensure business as usual. Continental Country Clubs HOA files for Chapter 11 bankruptcy. If you are looking for our main website, click here. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? Each year, members may elect a new board or move to a professional management association. View Properties for Sale at Continental Country Club located in Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. In a Chapter 7 does the HOA remain in place? Will there be an increase to my annual assessment? This option would release the Association from, Option #2 would be to spend that $2.5 million and create the new amenity. You can cancel at any time. Search And Rescue Crews Tended To An Injured Hiker On Mt. In a recent newsletter to Continental residents, General Manager Tahlia Murray confirmed that if unable to emerge from Chapter 11 Bankruptcy and forced to file Chapter 7 Bankruptcy, the Lake Elaine lawsuit would cease, as the HOA cannot be sued by Lake Elaine property owners or any other entity under Chapter 7. Is there a Special Assessment Payment Plan? There are a lot of different options when it comes to housing in Continental Country Club. The remaining properties consist of Townhomes, Condos and timeshares. Is it possible to leave the HOA so we're not part of it? Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? Is there a way that the CC&Rs can be amended to give the townhome and condos the same voting rights as the single-family homeowners? Reorganization comes after decades of the Association kicking the can down the road. Continental Country Club - 34785 Real Estate - 3 Homes For Sale - Zillow They stick to the claim that maintaining the lake in the manner outlined in 1990 is no longer physically possible, economically feasible or ecologically sound., While the court concluded that it was possible to maintain the lake, and that Continental had a responsibility to do so, the engineering reports that informed the decision paint a more complex picture. Fee: Continental Country Club HOA or Social Membership fee required. At Continental, you are more than a member; you are part of the family. Continental Country Club - 78 Spaces - Apartments.com Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. Continental Country Club Files For Chapter 11 Bankruptcy, Will Stay Dues increases and/or special assessment would have been necessary even if a professional management company was involved. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. 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 Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. The Associations responsibility to maintain Lake Elaine has been well established for decades based on a 1990 court-ordered Judgment that the Coconino County Superior Court upheld in October of 2020 following nearly four years of litigation, including multiple attempts at mediation and a weeklong hearing. Zillow has 3 homes for sale in 34785 matching Continental Country Club. Subscribe to our Daily Headlines newsletter. Why are there currently some members paying different assessment rates? (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). Who owns the property Lake Elaine is on and who is responsible for its redevelopment and construction? If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! We have the receipts. The Boards decision to take this step relied on a three-pronged financial problem that was accelerated after the October 30th preliminary ruling of finding CCC in contempt for having not maintained Lake Elaine consistent with a 1990 Consent Decree, discussed below. The biggest problem over the years has been Lake Elaine, which has been an issue for nearly 30 years, with costs and fines building over time. Bliss said the HOA also has lots of deferred maintenance fees, while also having some of the lowest member fees in the state. For the most part, most of our Members should not be affected by this petition. All owners of lots subject to the declaration are required to be members of Continental Country Club, Inc., per the recorded declaration. But for Continental to do any of this, theyll need money, and they dont deny that they need money for more than just Lake Elaine. . ", 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 Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. 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 . However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. How do timeshares fit into the funding picture? Meeste parka Helly Hansen Continental XL UUS. They don't want to claim for damages. One that was, you know, competent., Financial mismanagement reaches further back than the 2020 study, said resident John Nilsson. 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. CONTINENTAL COUNTRY CLUB RO, WILDWOOD FL HOA Board, Property Mgr Professional management associations still report to a board of directors which makes final decisions. A 2019 report from engineering firm Terracon evaluated that the lower lake elevation would have relative stability. The same report concluded, however, that any plan should include the eventual replacement of the liner below this elevation., Outlined in their amended disclosure statement, Continental has included a small lake option in its plan to emerge from bankruptcy, but with one caveat: the club no longer want to be responsible for maintaining the lake. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. When will we know about the timing and amount of any assessments that will be needed? Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. Continental received $1500 in donations for marketing materials for the campaign. Home - Continental Country Club FL Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. HOA Fee Includes Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. 3. It is not true that the Lakeside Homeowners want to bankrupt [Continental], the Legionnaire statement says. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. That resulted in two levels. Are our property assessments used for this? What remains to be seen is whether Continental will get the votes they need to avoid Chapter 7, what will finally become of the contentious Lake Elaine,and whether the organization will be able to repair its financial situation in the long run. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. 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. The Continental Country Club in Flagstaff is bankrupt. Background: How did we get in this situation regarding Lake Elaine and the Bankruptcy? Even more, we do all the work of the Deed Restriction for you! President - The president of the Board presides at all meetings of the Board of Directors. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). Give Us A Call: 1-888-452-6595. For these reasons, they continue to urge Continental residents to vote to approve the specially assessment payment of $2,000 and the 20% increase on annual dues, suggesting its the financially responsible thing to do. Reserve your next round of golf with our quick and convenient online booking engine. Schedule: No open play during the off-season (Nov-Apr). The Country Inn at Camden Rockport Show prices Enter dates to see prices 505 reviews #1 Best Value of 15 places to stay in Rockport By Allyson R "The staff is fantastic, the room clean and comfortable, the continental breakfast delicious and hot. PDF Continental Country Club Design Review Form - Cybergolf 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. You have permission to edit this article. 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 18-hole championship golf course at Continental Country Club is among the best-rated public courses in Flagstaff come visit us today to see why! If it is to be divested, it must be accepted by a third party. We do support the vote for the additional funds for the homeowners association.. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. Continental Country Club - Flagstaff Golf Homes - Our Complete 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. Court reservations required. What happens if 2 YES (APPROVE) for Special Assessment and Annual Dues Increase? Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. This anomaly resulted in 1994. Selling the golf course is not legally a feasible option until we emerge from Chapter 11 bankruptcy. Once that happens, and at the approval of the homeowners, selling the golf course is something that can be discussed. Thank you to everyone who came out and play, we are looking forward to some exciting changes in-store for next year. How do timeshares fit into the funding picture? By 2026, the annual dues increase will be $189. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. These homeowners the Class believe that the Association has options to address its financial challenges. Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. Quite honestly, I can't imagine a professional management company letting this happen. So long as CCC owns the property, at a minimum, it will remain liable for public safety/nuisance issues and dam maintenance obligations with the State of Arizona. Welcome to Anthem Community Council Three People Were Killed In A Multi-Vehicle Accident On I-40 Near Williams Tuesday, Flagstaffs Mayor Paul Deasy Declares A State Of Emergency For The City Due To Post-Pipeline Fire Flooding, Grand Falls Closed To Visitors Until Further Notice, Over 30-Inches Of Snow Fell Near Downtown Flagstaff And Kachina Village From The Latest Storm, Arizona State Forestry Allocates $27-Million To Flagstaff And Coconino County, Flagstaff Beats Pueblo To Win The 4A Girls State Basketball Title, School Closings And Delays, Along With Other Weather-Related Matters For Thursday In Northern Arizona, NAU, FUSD Closed As A Major Winter Storm Leaves Feet Of Snow Behind, Missing Man, Who Was Last Believed To Be In Williams, Has Been Found Safe, ADOT Holding A Public, In-Person Meeting In Flagstaff Next Wednesday, Winter Storm Warning Extended To 11 A.M. Thursday For Flagstaff And Surrounding Areas, Copyright 2023 Great Circle Media | All Rights Reserved | Privacy Policy. The aforementioned 2019 Terracon report does indicate that there are viable solutions to refill Lake Elaine including short-term use of the existing liner or a more long-term geomembrane liner but does not shy from saying that the porous limestone and geologic conditions in the area are problematic for a lake or reservoir. It goes on to say that it can certainly be argued that this site was a poor choice for a lake or water feature of any significant size., Another 2019 engineering report from Natural Channel Designs reached similar conclusions, saying the geologic and environmental setting of the lake presents significant challenges to its continued existence. Continental Country Club Flagstaff, AZ 86004 Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. Hobby Shop Temecula - kbstricks.it Continental Country Club HOA in Flagstaff, AZ - HOA Resource Continental Country Club Homeowners Association, Flagstaff AZ - HOA Joining the Continental Country Club HOA is the easiest way to protect your propertys value! The Continental CC course can host up to 144 golfers at a time with a shot gun start. The Board approved a two-tier membership now known as Associate and Full Membership to account for the difference in assessment levels. Our clubhouse is over 50 years old and the other amenities require maintenance and repair. What about the special assessment or other fees? But Bliss also took issue with the HOAs suggestion that the issue over Lake Elaine was the primary cause of the bankruptcy. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. View Properties for Sale at Continental Country Club located in Wildwood, FL. Cont Country Club HOA Flagstaff, AZ - HOA Community The Class also estimates this temporary solution could be completed quickly in months, not years. For more information contact Continental Country Club Guest Services at . We are located on St Rte 44 just 2.5 miles east of Brownwood 50 Continental Blvd. Continental Country Club | Continental Country Club Mobile Homes Most of it, though, is the result of the Associations failure to plan and its collective failure to confront issues and take proactive steps to address them. At the time, it was an asset to the HOA. A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. Not currently but we hope that our members will approve the two fees required to support the reorganization plan that will provide our HOA with a healthier and stronger future. 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. Will there be a special assessment to help cover some of the debts? Register for our eClub to receive regular offers and updates from Continental CC! We face possible conversion to Chapter 7 Bankruptcy and liquidation of all our assets reduced or possible loss of club amenities such as tennis, pickleball, pool, golf and clubhouse.