More information on the voting process for residents of the neighborhood can be found at continentalflagstaff.com/the-voting-process-on-the-two-fees/. Are you looking for a great golf course?Are you looking for a great restaurant?Are you looking for a great 55+ retirement community?Then, youve come to the right place. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. 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. There are approximately 1,360 single-family homes (in addition to 1,030 townhouses, condos, and timeshares) within the Continental Country Club Homeowners Association. Voting to approve these additional funds ends July 28. Wildwood, FL 34785. Please subscribe to keep reading. Are the fines associated with the October 2020 preliminary ruling being assessed currently? The Continental Country Club course is filled with par 3s and par 5s, offers beautiful mountain views and a friendly, neighborhood environment. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. At the time of the study, Continentals reserve balance was $54,291. 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. 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. If Option B is selected, the redesign will be the Associations responsibility. The issues we are dealing with today began 30 years ago and the current board wasnt a part of. Becoming a member at Continental Country Club is an investment in yourself, your family and your future. There were several additions made in the 1970s. . Log in, Continental Country Club HOA in Flagstaff, AZ, Forest Highlands Golf Club HOA in Flagstaff, AZ, Railroad Springs Townhomes HOA in Flagstaff, AZ. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? 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. How much are you paying for these signs Im seeing, and this PR firm? The Continental Country Club in Flagstaff is bankrupt. continental country club hoa fees. How do timeshares fit into the funding picture? View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. In 2006 Continental Country Club succeeded in unifying (11) different sets of CC&Rs for individual single-family subdivisions. Now, the association is asking homeowners to vote to approve two items a one-time fee and an increase in annual dues. 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. Continental Country Club Who are the members of CCC? Email notifications are only sent once a day, and only if there are new matching items. Come see us today! While the pending contempt order and associated fines were the catalyst for this action, there were also underlying considerations including an October 21 obligation to pay a $600,000 balloon payment incurred when funds were borrowed to install a new golf course irrigation system in October 2011. 219 4. When were the clubhouse and clubhouse pool built? Buying a new home in the Continental area? Other areas of compromise included an offer to push out the full Lake Elaine repair as long as 10 years, providing additional running room to plan and capitalize for a proper longer-term repair. Continental is responsible for those owners access to amenities and common area maintenance. The amount of a one-time special assessment and annual dues increases has been discussed earlier in this section as well as in several Things to Know messages. Continental Country Club is a neighborhood in Wildwood, Florida. There was a problem saving your notification. . 50 Continental Blvd. Is it possible to leave the HOA so we're not part of it? 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. In a Chapter 7 does the HOA remain in place? View 17 homes in Continental Country Club listed under Lake, Marion, Sumter & West Orange Marina Golf Course Pet Friendly Waterfront 17 homes available Properties per Page The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. All owners of lots subject to the declaration are required to be members of Continental Country Club, Inc., per the recorded declaration. Subscribe to our Daily Headlines newsletter. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? The money for the signs was donated. 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. There is a one-time special assessment of $2,000. Can I see a Reserve Study Summary of expenditures broken out by amenity? 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. By 2026, the annual dues increase will be $189. Copyright 2023 Continental Country Club FL All Rights Reserved. We also have aging facilities that require upkeep with an insignificant amount of reserves. 2380 N Oakmont Dr Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. 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. This community dates back to 1975 and has continued to develop over the years. If we had hired a professional HOA management team a few years ago, could we have avoided all this? Schedule: No open play during the off-season (Nov-Apr). Associate Members have the option to upgrade on an annual basis to full members, although full members do not have the option to become associate members. HOA Legal Name: CONTINENTAL COUNTRY CLUB R.O., INC. 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. Based on the HOAs rules, those fees can only be raised by a two-thirds vote by all members. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. 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. Print Subscribe Was this page helpful? If it is to be divested, it must be accepted by a third party. Trees are falling in Flagstaff and have been compromised as a result of recent winter storms. {{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. There are constant ongoing repairs and improvements required for these assets that must be addressed. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. Our members are what makes the social membership so special. The costs are too much of a burden for members on a fixed income? 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. Lake Elaine did not cause Continental to file bankruptcy, but the Class can potentially be a partner finding practical solutions to address the Associations financial constraints for the benefit of all members. 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. Continental Country Club filed a Chapter 11 Petition for Bankruptcy Protection on Tuesday, February 9th, 2021 in the U.S. Bankruptcy Court in the District of Arizona. 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. Even more, we do all the work of the Deed Restriction for you! 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. https://continentalflagstaff.com/motion-to-reject-1990-agreement-granted/. 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. 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 condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. You can cancel at any time. This discount allows members & guests to enjoy the lowest rates offered on our rack card. 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. The Continental Country Club constructed Lake Elaine back in the 1970s. The original clubhouse was built in 1960. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. This anomaly resulted in 1994. He is a big sweetheart but a little too rough for my Pygmy Goats. This included signage, team captain materials and t-shirts. From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. Flagstaff, Feb. 12, 2021 - Continental Country Club is a great place to live and provides many amenities for the broader community. View Properties for Sale at Continental Country Club located in Wildwood, FL. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. Finally, CCCs boards have struggled to make ends meet for years, while trying to honor their pledge made in 2013 not to raise dues again for eight years. This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. HOA Fee Includes I dont golf. The fee had been set to begin at the start of February, . But some lakefront residents on the other side of the legal battle have a different perspective. It has not been a normal winter in Flagstaff. Thank you to everyone who came out and play, we are looking forward to some exciting changes in-store for next year. 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. 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 Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. The owners of these properties are also obligated to pay annual assessments to CCC based on their respective CC&Rs. They don't want to claim for damages. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. Membership in Continental is a result of home ownership. 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. Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. 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. Continental Country Club HOA is a community located in Chula Vista, CA (San Diego County). 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! How will this affect the value of my home? Reorganization comes after decades of the Association kicking the can down the road. Get Adobe Acrobat Reader free to view these files. The Villages, FL 32162 Directions. Is it possible to leave the HOA so we're not part of it? 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 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. The CC&Rs govern 1,210 single family homes. Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. It is not true that the Lakeside Homeowners want to bankrupt [Continental], the Legionnaire statement says. Now, it has turned to owners for funding. The question is why. Continental Country Clubs HOA files for Chapter 11 bankruptcy. 27470 Jefferson Ave. Pizza making Mamma mia, we love this one! To him, the results of this 2020 study were disturbing.. . 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 HOA fees in this community is about $265 to $320 a month, depending on location (golf course and waterfront lots are available) and includes lawn care and trash pick-up. Tract D (Lake Elaine) is currently owned by the Association. Please subscribe to keep reading. 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. 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. As stated at the 2/12/21 meeting, the Board is taking ALL homeowners concerns regarding voting equality seriously and plans to include the townhomes and condos in all future votes, if legally possible. The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. Are you looking for a great 55+ retirement community? 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. This option allows us to maintain the day-to-day operations of our Club without interruption so that members and others can continue to enjoy our amenities. Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? 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.. The Continental CC course can host up to 144 golfers at a time with a shot gun start. 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. Give Us A Call: 1-888-452-6595. An HOA faces bankruptcy because of its man-made lake. Then, you've come to the right place. The plan gives the LFOs the option of taking ownership and responsibility for the property going forward and relieving CCC of all future liabilities in exchange for a onetime payment by CCC to the homeowners of $2.5 million. 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. The association has said that any lake repair would cost millions of dollars. If I havent yet paid my annual dues, will they still have to be paid? Back then, the increase had to be approved in each single-family subdivision. The reorganization plan imposes an increase to our annual assessment that will be phased in over three years beginning in 2024. 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.. Flyer Link. A big vote is underway at Continental Country Club in East Flagstaff. How do timeshares fit into the funding picture? What is the difference between Chapter 11 Reorganization and Bankruptcy? We have compensated by charging usage fees and not giving golf discounts to those who do not pay the full amount. Continental Country Club mostly features cozy homes that are very reasonably priced. Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. 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. Payment $4,996 Price/Sq.Ft. Mo. By 2026, the annual dues increase will be $291. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. By the end of the year, they expected they could get that number to $125,000. Flagstaff, Feb. 12, 2021 Continental Country Club is a great place to live and provides many amenities for the broader community. In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. COMMUNITY TYPE: RESIDENTIAL SFH COMMUNITY LEGAL NAME: CONTINENTAL COUNTRY CLUB R.O., INC. ALSO KNOWN AS: CONTINENTAL COUNTRY CLUB TYPE OF CORPORATION: DOMNP ORIGINAL CORPORATION FILING DATE: 05221989 COMMUNITY ID NUMBER: N32426 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. 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. Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. There are many unknowns associated with a conversion to Chapter 7. 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 (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). 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. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. Sign up for our newsletter to keep reading. How does the Chapter 11 filing affect me as a Continental Country Club Member? We do not currently expect the LFOs to elect Option A. 2011 Sunwest loan with Oct. 2021 balloon payment due, Deferred and anticipated club amenity maintenance, Decades-long Lake Elaine lawsuit with potential daily fines of up to $700 per day and restoration of a full lake. Joining the Continental Country Club HOA is the easiest way to protect your property's value! What is the source of funds that are being used to pay for all the signage and banners to support the special assessment? John Held, president of the board of directors for the country club sent out a letter Wednesday announcing the boards decision and the reasons why.