Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change. Get up-to-the-minute news sent straight to your device. With some of the lowest homeowner fees in the state less than $46 a month along with a golf course, driving range, clubhouse and other amenities the Association has the ability to generate greater revenues to pay for its obligations and update aging facilities. 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. 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. HOA Documents Articles of Incorporation CC&Rs Bylaws Membership Policies Tract D (Lake Elaine) is currently owned by the Association. You know, we think a partial repair could have been done for as little as $600,000, said attorney Jason Bliss with the office of Aspey Watkins and Diesel, who is representing the homeowners. This community dates back to 1975 and has continued to develop over the years. . 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 Clubs HOA files for Chapter 11 bankruptcy. 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. Are you looking for a great restaurant? The property cannot be abandoned. Get Adobe Acrobat Reader free to view these files. 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. Once that happens, and at the approval of the homeowners, selling the golf course is something that can be discussed. Sign up for our newsletter to keep reading. If we convert to Chapter 7, the HOA cannot be sued by Lake Elaine property owners or any other entity. If the plan is approved, Murray says there are two options that can be done with the land. The funds usually have strict criteria for how they are to be used. Even more, we do all the work of the Deed Restriction for you! Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. No true repairs have been made to the Lake since 1994. 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! They pay the full membership dues and receive the same benefits. 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? Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. 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. But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. Continental Golf Course Is CLOSED for the Season! 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. There was a problem saving your notification. How does the Chapter 11 filing affect me as a Continental Country Club Member? Lake Elaine is not the reason for Continental Country Club's bankruptcy, it was only one of the straws to fall after years of what, in my opinion, is gross mismanagement.. The fee had been set to begin at the start of February, . There were several additions made in the 1970s. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. There are many types of townhomes available from $300,000 - $500,000. Is there a Special Assessment Payment Plan? Quite honestly, I can't imagine a professional management company letting this happen. An HOA faces bankruptcy because of its man-made lake. Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. You have permission to edit this article. Held says the work would take time and millions of dollars. 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. Sign up for our newsletter to keep reading. The Continental Country Club constructed Lake Elaine back in the 1970s. 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. These homeowners are known as Associate members. 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. The Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. The lake level has been falling because water is seeping out despite previous attempts to seal the lake bottom. {{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. For the most part, most of our Members should not be affected by this petition. We pay a special assessment one-time fee of $2,000 and assuming success in the bankruptcy court, we are DONE with Lake Elaine issue forever! Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. 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. All owners of lots subject to the declaration are required to be members of Continental Country Club, Inc., per the recorded declaration. and review fee to: Continental Country Club Architectural Control Committee 2380 N. Oakmont Dr. Flagstaff, AZ 86004 Front Rear Sides Lakeside Acres I 25 25 1) 25 Lakeside Acres II & III 20 20 10 Why did the Board decide to take this step now? They don't want to claim for damages. 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. 219 4. Why am I paying for amenities I dont use? 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. Print Subscribe Was this page helpful? The Continental Country Club in Flagstaff is bankrupt. 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 . 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. We have compensated by charging usage fees and not giving golf discounts to those who do not pay the full amount. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. 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. Thank you to everyone who came out and play, we are looking forward to some exciting changes in-store for next year. Continental Country Club Powered by GolfNow.com Book a Tee Time Satellite Layout Tees Track Rounds Scorecard Course Details Year Built 1972 Golf Season Year round Architect Ron Garl (1972) Rentals/Services Carts Yes - included in green fees Clubs Yes Practice/Instruction Driving Range Yes Golf School Academy Yes - "Stephen Wresh Golf Academy" But Bliss also took issue with the HOAs suggestion that the issue over Lake Elaine was the primary cause of the bankruptcy. By 2026, the annual dues increase will be $291. A big vote is underway at Continental Country Club in East Flagstaff. Membership in Continental is a result of home ownership. 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. 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. He said the HOA has several other significant expenses and issues that have prevented it from properly facing those issues. That's not what any of our folks want. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. In the mean time the proshop will still be open Tuesday- Saturday 9am-4pm. A Flagstaff man is behind bars, charged with aggravated DUI and kidnapping. Please subscribe to keep reading. Continental Country Club HOA is a community located in Flagstaff, AZ (Coconino County). Call the Pro Shop at 352-748-3293 to reserve your tee time Welcome to Continental Country Club Are you looking for a great golf course? CCC also had a balloon payment due in October, for $600,000. It is disingenuous for any group to shift the blame to the reserve study, and then not vote to fund the maintenance and improvements identified in the study.. A reserve study is not something to be taken lightly, said lakefront resident Dan Penoff, who has nearly 30 years of experience on homeowners association boards outside of Continental. (link to message). The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). Contrary to the Associations statements, a partial repair would cost nowhere near the millions of dollars suggested by the Association. 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. The money for the signs was donated. 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. When will we know about the timing and amount of any assessments that will be needed? 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. 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. Is it possible to leave the HOA so we're not part of it? Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. Continental Country Club Listings. 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. Staffed with talented and devoted professionals, Continental Country Club is among the area's best-rated public courses. The question is why. Learn More on our tournaments page. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. 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. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. Continental Country Club is a neighborhood in Wildwood, Florida. When were the clubhouse and clubhouse pool built? 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. 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. For the good of our residents and those who enjoy our facilities, it was time to take action.. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. Subscribe to our Daily Headlines newsletter. 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. Please subscribe to keep reading. Sean Golightly reports on the environment and the city of Flagstaff. Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. They are down to earth, fun-loving people that enjoy spending time together laughing over great food and refreshing drinks. There are many unknowns associated with a conversion to Chapter 7. Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. Continental Country Club mostly features cozy homes that are very reasonably priced. Continental Country Club's HOA files for Chapter 11 bankruptcy (AZ) 17 Feb, 2021 Print this article Font size - 16 + 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. This option would release the Association from, Option #2 would be to spend that $2.5 million and create the new amenity. 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. Bliss said the HOA also has lots of deferred maintenance fees, while also having some of the lowest member fees in the state. https://continentalflagstaff.com/motion-to-reject-1990-agreement-granted/. 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. . 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. 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! Back then, the increase had to be approved in each single-family subdivision. How do timeshares fit into the funding picture? Board Members for Continental Country Club Ro: Title Name Mailing Address Location; Dire . Log in, Continental Country Club HOA Chula Vista, CA, Alicante at San Miguel Ranch HOA Chula Vista, CA. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. Joining the Continental Country Club HOA is the easiest way to protect your property's value! Zillow has 3 homes for sale in 34785 matching Continental Country Club. Why didnt the Board give us a warning that this was going to happen? 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. Flagstaff, Feb. 12, 2021 Continental Country Club is a great place to live and provides many amenities for the broader community. Our members are what makes the social membership so special. View Properties for Sale at Continental Country Club located in Wildwood, FL. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! How will this affect the value of my home? We have the receipts. 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. For more information contact Continental Country Club Guest Services at . Voting to approve these additional funds ends July 28. Are the fines associated with the October 2020 preliminary ruling being assessed currently? Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. What are we voting on, what is the timeline/details? 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. 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.
Mormon Population In Gilbert, Az,
Robinson Bours Family Net Worth,
Andrew Holness Net Worth 2020,
Ray Gibson And Claude Banks,
Articles C