We will keep our facilities open and our employees will be working to ensure business as usual. The Ferraro Groups contract and the previous Cindy May Marketing contract are for the same amount. Voting to approve these additional funds ends July 28. If we dont reach quorum on special assessment, then we can go out a second time on special assessment but must have 30% quorum (participation) that round and of that, 2/3 must vote Yes. If Option B is selected, the redesign will be the Associations responsibility. Trees are falling in Flagstaff and have been compromised as a result of recent winter storms. A Flagstaff man is behind bars, charged with aggravated DUI and kidnapping. Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. They are down to earth, fun-loving people that enjoy spending time together laughing over great food and refreshing drinks. Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. There are a lot of different options when it comes to housing in Continental Country Club. Court testimony confirmed what the Class already knew: The Lake holds water and can be fixed. Panda Express is expanding to east Flagstaff. Will all country club members be allowed on the new redeveloped lake? 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. 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. . How do timeshares fit into the funding picture? They don't want to claim for damages. Quite honestly, I can't imagine a professional management company letting this happen. These homeowners the Class believe that the Association has options to address its financial challenges. 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. Contrary to the Associations statements, a partial repair would cost nowhere near the millions of dollars suggested by the Association. We do not currently expect the LFOs to elect Option A. If I haven't yet paid my annual dues, will they still have to be paid? In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. HOA Fee Includes Starting in 2024, associate members would owe an additional $63 for 2024, 2025, and 2026. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. 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. Continental Country Club mostly features cozy homes that are very reasonably priced. Email notifications are only sent once a day, and only if there are new matching items. to fines, and Continental Country Club HOA reserves the right to require restoration of the property to its prior condition. 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. If APPROVED and Option A is selected, then the property will be deeded to the Lake Elaine owners. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. These membership tiers are subdivision specific. Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. This would include 4-5 ponds, walking trails, benches, limited parking and would be open to, With either option, and assuming successful confirmation of our reorganization plan by the bankruptcy court, we have no ongoing legal obligation to continue any litigation from lakefront homeowners. We do support the vote for the additional funds for the homeowners association.. 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. The costs are too much of a burden for members on a fixed income? Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. In a Chapter 7 does the trustee manage the HOA? {{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. 2380 N Oakmont Dr 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. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. You can cancel at any time. 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. The Continental CC course can host up to 144 golfers at a time with a shot gun start. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. By the end of the year, they expected they could get that number to $125,000. Professional management associations still report to a board of directors which makes final decisions. Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. Are you looking for a great restaurant? 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. The Continental Country Club in Flagstaff is bankrupt. 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. The criteria is based on the HOA community rules and regulations, bylaws and accountability. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . 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? 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 owns and maintains the Walnut Canyon Lakes, and the Associations own experts have testified that Lake Elaine can be repaired. . 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. What is the difference between Chapter 11 Reorganization and Bankruptcy? 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. The Lake Elaine lawsuit was based on a 1990 Amended Judgement and Settlement that was rejected by the bankruptcy court earlier this year. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). You have permission to edit this article. How will this affect the value of my home? Round Table Discussions will be held on every, We will also be having Town Hall Meetings for everyone who is interested in attending. 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. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. 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. Still, Chapter 7 and the liquidation of assets that would follow are by no means in Continentals interests. 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. The required work would require Engineers, Contractors, and time. Four Star Homes has Properties in Adult, Family, and Senior Communities throughout Central Florida. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. But Bliss also took issue with the HOAs suggestion that the issue over Lake Elaine was the primary cause of the bankruptcy. In some cases, these problems predate the current board by years, if not decades. 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. Get up-to-the-minute news sent straight to your device. Why did the Board decide to take this step now? If the plan is approved, Murray says there are two options that can be done with the land. Tract D (Lake Elaine) is currently owned by the Association. Why are there currently some members paying different assessment rates? 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. In a Chapter 7 does the HOA remain in place? Flagstaff City Championship Flyer 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 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.. This option would release the Association from, Option #2 would be to spend that $2.5 million and create the new amenity. Sign up for our newsletter to keep reading. 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. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. 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. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Elden Thursday, Jeronimo Vasquez Named District 2 Supervisor, 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 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. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. 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. 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 View Properties for Sale at Continental Country Club located in Wildwood, FL. Sign up for our newsletter to keep reading. The following is a statement from Lakeside Homeowners At Continental: Continental Country Clubs Financial Challenges Result From Failure to Plan and Confront Obligations. 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! The trustee is appointed to liquidate and pay, not operate. For the good of our residents and those who enjoy our facilities, it was time to take action.. . What is the source of funds that are being used to pay for all the signage and banners to support the special assessment? Joining the Continental Country Club HOA is the easiest way to protect your property's value! Helly Hansen Active Winter sulejope UUS! There are many types of townhomes available from $300,000 - $500,000. The January newsletter provided to homeowners did reference that bankruptcy was an option that was being considered. The Continental Country Club constructed Lake Elaine back in the 1970s. 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! 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. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. The Coconino County Superior Court agreed, and for this reason found the Association in contempt of the 1990 Judgment, imposing daily sanctions to encourage compliance. 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. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. Buying a new home in the Continental area? Quick Facts Getting Around Continental Country Club Continental Country Club Learn more about this neighborhood. If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. 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. 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 We have the receipts. How does the Chapter 11 filing affect me as a Continental Country Club Member? A big vote is underway at Continental Country Club in East Flagstaff. Even more, we do all the work of the Deed Restriction for you! 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 reorganization plan imposes an increase to our annual assessment that will be phased in over three years beginning in 2024. And it's free! The property cannot be abandoned. To hear Peter and Daves interview with Continental Country Club General Manager Talia Murray, click here: Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. 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. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. This discount allows members & guests to enjoy the lowest rates offered on our rack card. You can cancel at any time. Continental Golf Course Is CLOSED for the Season! The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. When were the clubhouse and clubhouse pool built? Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. How much are you paying for these signs Im seeing, and this PR firm? The funds usually have strict criteria for how they are to be used. application fee details: $55 app fee online at our website bishoprealtygrp. 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. 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. He is a big sweetheart but a little too rough for my Pygmy Goats. Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change. President - The president of the Board presides at all meetings of the Board of Directors. 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. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. 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.
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