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. Why are there currently some members paying different assessment rates? They pay the full membership dues and receive the same benefits. 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. Quite honestly, I can't imagine a professional management company letting this happen. Membership in Continental is a result of home ownership. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! How will this affect the value of my home? The required work would require Engineers, Contractors, and time. 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. The Board approved a two-tier membership now known as Associate and Full Membership to account for the difference in assessment levels. There are approximately 1,360 single-family homes (in addition to 1,030 townhouses, condos, and timeshares) within the Continental Country Club Homeowners Association. 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. On this point, the Legionnaires agree. 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. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. This included an offer to complete a partial top-down repair to buy more time. You have permission to edit this article. 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. For more information contact Continental Country Club Guest Services at . 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. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. . Quick Facts Getting Around Continental Country Club Continental Country Club Learn more about this neighborhood. 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. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. At Continental, you are more than a member; you are part of the family. Joining the Continental Country Club HOA is the easiest way to protect your property's value! A big vote is underway at Continental Country Club in East Flagstaff. 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. Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. Now, the association is asking homeowners to vote to approve two items a one-time fee and an increase in annual dues. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. One thing to remember, you will be required to pay additional Home Owner . Will there be an increase to my annual assessment? Back then, the increase had to be approved in each single-family subdivision. 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. The Villages, FL 32162 Directions. Is there money set aside for the management of the HOA & enforcement of CC&Rs? 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. The failure to plan by the association, the failure to reserve funds, have really put the association in a tough spot.. Wildwood, FL 34785. 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. Even more, we do all the work of the Deed Restriction for you! You can cancel at any time. Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. 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! 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 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. 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. 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. In an email, the board president of the Continental Country Club HOA said the organization is facing several financial challenges, including the issue over Lake Elaine. The intent in filing Chapter 11 Reorganization was to give CCC the opportunity to develop a reorganization plan and develop a solid financial footing for the future. 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. In their statement, they note that lakefront homeowners have been very willing to work with [Continental] to negotiate a creative solution that would allow for repair of the lake as part of a holistic approach to address [Continentals] broad financial challenges., In their opinion, Continental has refused to meet them halfway and has tried to use the bankruptcy process to block enforcement of the 1990 Settlement Judgment and the 2020 contempt ruling., Lakeside Homeowners attempted to negotiate flexible options allowing for repair of the lake over time, the Legionnaire statement reads. If the home is not associated with the Homeowners Association youre invited to deed restrict the property with CCC and become part of the Club! {{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, Flagstaff schools planning to make up instructional time after this winter's snow days, Investigation underway after body found near Sunset Crater National Monument, 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, continentalflagstaff.com/the-voting-process-on-the-two-fees/, City of Flagstaff Year in Review: Housing, transportation key considerations as city develops, 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, Greece train crash: Public anger grows as death toll rises. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). Reorganization comes after decades of the Association kicking the can down the road. 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. When were the clubhouse and clubhouse pool built? If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. The benefits are endless and your experiences will last a lifetime. 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. An automatic stay is a provision in the bankruptcy law that temporarily prevents creditors, collections agencies, government entities, and individuals from pursuing Continental for amounts owed. This community dates back to 1975 and has continued to develop over the years. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? 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. We are located on St Rte 44 just 2.5 miles east of Brownwood, CLICK IMAGE TO REGISTER FOR IMPORTANT EMAILS WITH IMPORTANT INFORMATION, KINDLE AND ANDROID USERS: CLICK HERE TO DOWNLOAD OUR APP, Resident, Dan Kane compiled an informative list of links to the areaclick below:CCC HELPFUL LINKS, 50 Continental Blvd., Highway 44 East, Wildwood, Florida 34785. 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. Schedule: No open play during the off-season (Nov-Apr). A future owner of your home may find golf or the other amenities appealing. First used to store water for the golf course, Lake Elaine is now only aesthetic, but has been leaking water for decades. An HOA faces bankruptcy because of its man-made lake. Why did the Board decide to take this step now? Other factors include a $600-thousand balloon payment coming due on a loan that was taken out in 2011 to complete installation of a new irrigation system on the course, and additional costs far exceeded the revenue generated by HOA fees. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. Is it possible to leave the HOA so we're not part of it? But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. 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. If Option B is selected, the redesign will be the Associations responsibility. 27470 Jefferson Ave. Pizza making Mamma mia, we love this one! 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. Sean Golightly reports on the environment and the city of Flagstaff. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . That would be within the discretion of the trustee. If I haven't yet paid my annual dues, will they still have to be paid? 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. (link to message). He said the HOA has several other significant expenses and issues that have prevented it from properly facing those issues. We have the receipts. To him, the results of this 2020 study were disturbing.. The Continental Country Club in Flagstaff is bankrupt. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. The obligation to pay dues at least at their current level runs with the land. Each year, members may elect a new board or move to a professional management association. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. Yes, on November 16, 2021 the board unanimously passed a one-time resolution allowing townhome/condominium members a vote on the two fees that are required to support the reorganization plan. That's not true. Can we just abandon the property? 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. 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. It has not been a normal winter in Flagstaff. Get up-to-the-minute news sent straight to your device. If you are looking for our main website, click here. A Flagstaff man is behind bars, charged with aggravated DUI and kidnapping. If we had hired a professional HOA management team a few years ago, could we have avoided all this? Reserve your next round of golf with our quick and convenient online booking engine. Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. What happens if 2 YES (APPROVE) for Special Assessment and Annual Dues Increase? The filing for Chapter 11 reorganization stays those fines. 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. 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.. But some lakefront residents on the other side of the legal battle have a different perspective. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. The remaining properties consist of Townhomes, Condos and timeshares.

Sons Of Anarchy Cast Hale Brother, Lawrenceville, Il Jail Mugshots, How To Say Thank You In Yugambeh Language, Commanders Roster 2022, Articles C