This included an offer to complete a partial top-down repair to buy more time. That fee would drop to $500 if the HOA begins refilling the lake and continue until it is full. 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. You have permission to edit this article. https://continentalflagstaff.com/what-if-our-members-dont-approve/. We also have aging facilities that require upkeep with an insignificant amount of reserves. By 2026, the annual dues increase will be $291. 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. 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. The Continental Country Club constructed Lake Elaine back in the 1970s. At the time, it was an asset to the HOA. Wildwood, FL 34785. 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.. 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. If you are looking for our main website, click here. 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. 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 . 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. 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. Why am I paying for amenities I dont use? And its free! However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. Here are the top City of Flagstaff stories from 2022. Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. application fee details: $55 app fee online at our website bishoprealtygrp. Quick Facts Getting Around Continental Country Club Continental Country Club Learn more about this neighborhood. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. 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. At the time of the study, Continentals reserve balance was $54,291. Will all country club members be allowed on the new redeveloped lake? He said the HOA has several other significant expenses and issues that have prevented it from properly facing those issues. Court testimony confirmed what the Class already knew: The Lake holds water and can be fixed. Quite honestly, I can't imagine a professional management company letting this happen. 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.. This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. How do timeshares fit into the funding picture? What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. 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. Cracked limestone makes up the karst geologic formation beneath a worn-out section of concrete and plastic liner on the edge of Lake Elaine in the Continental Country Club in this 2016 photo. Dues increases and/or special assessment would have been necessary even if a professional management company was involved. Selling the golf course is not legally a feasible option until we emerge from Chapter 11 bankruptcy. With huge increases in minimum wage, increasing expenses related to repairing, replacing and maintaining facilities, and rising water costs, along with the contempt action, sanctions, and order, and after exploring all other options, there was no other possible decision. Round Table Discussions will be held on every, We will also be having Town Hall Meetings for everyone who is interested in attending. Flagstaff, Feb. 12, 2021 - Continental Country Club is a great place to live and provides many amenities for the broader community. The Lakeside Homeowners would lose as much as any other owner would if the bankruptcy ended in a liquidation.. Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. 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. 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. The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. The required work would require Engineers, Contractors, and time. If APPROVED and Option A is selected, then the property will be deeded to the Lake Elaine owners. First used to store water for the golf course, Lake Elaine is now only aesthetic, but has been leaking water for decades. That resulted in two levels. 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. 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. How does the Chapter 11 filing affect me as a Continental Country Club Member? At Continental, you are more than a member; you are part of the family. 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. Join Us Today learn more on our membership page, Outing services feature green fees with cart, personalized cart signs, local rules sheet and much more. After the October 30th preliminary ruling, the board studied and reviewed all possibilities, along with speaking with several professionals and our attorneys. From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. I dont golf. Can I see a Reserve Study Summary of expenditures broken out by amenity? Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. Continental Country Club. If Option A is selected from the Amended Disclosure (not expected) then the property will be deeded to the Lake Elaine Owners and become, If Option B is selected, the redesign trails and ponds will be the responsibility of the Association and. Fixing the lake to accommodate the mandated water level would require extensive work including repairs to the dam, repairs to the liner between the 6,835 and 6,845 levels or the possible replacement of the entire liner, and sinkhole repairs. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. The property cannot be abandoned. 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. Example turn the golf course into single-family homes. Tract D (Lake Elaine) is currently owned by the Association. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. 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. The Class also estimates this temporary solution could be completed quickly in months, not years. But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. Payment $4,996 Price/Sq.Ft. By the end of the year, they expected they could get that number to $125,000. There are constant ongoing repairs and improvements required for these assets that must be addressed. {{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. The failure to plan by the association, the failure to reserve funds, have really put the association in a tough spot.. 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.. 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. 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. There are many unknowns associated with a conversion to Chapter 7. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. 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. In a Chapter 7 does the trustee manage the HOA? Now, the HOA faces bankruptcy if it can't come up with $2.5 million. Continental Country Club Who are the members of CCC? Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. 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. Continental owns and maintains the Walnut Canyon Lakes, and the Associations own experts have testified that Lake Elaine can be repaired. Continental is responsible for those owners access to amenities and common area maintenance. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. The money for the signs was donated. Continental Country Club is a neighborhood in Wildwood, Florida. We do support the vote for the additional funds for the homeowners association.. Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. Sign up for our newsletter to keep reading. 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. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . 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. When will we know about the timing and amount of any assessments that will be needed? Helly Hansen Active Winter sulejope UUS! The following is a statement from Lakeside Homeowners At Continental: Continental Country Clubs Financial Challenges Result From Failure to Plan and Confront Obligations. The issues we are dealing with today began 30 years ago and the current board wasnt a part of. That's not what any of our folks want. The Trustee is charged with maximizing distributions to creditors. Sign up for our newsletter to keep reading. 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. Buying a new home in the Continental area? Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. Continental received $1500 in donations for marketing materials for the campaign. The Board approved a two-tier membership now known as Associate and Full Membership to account for the difference in assessment levels. For the good of our residents and those who enjoy our facilities, it was time to take action.. We are located on St Rte 44 just 2.5 miles east of Brownwood 2380 N Oakmont Dr The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. 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. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. 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 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/. This area is served by the Sweetwater Union High attendance zone. Back then, the increase had to be approved in each single-family subdivision. 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. The association has said that any lake repair would cost millions of dollars. Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. The Ferraro Groups contract and the previous Cindy May Marketing contract are for the same amount. 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 . HOA Legal Name: CONTINENTAL COUNTRY CLUB R.O., INC. 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. 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. Board Members for Continental Country Club Ro: Title Name Mailing Address Location; Dire . The reorganization plan imposes a one-time special assessment of $2,000. If the plan is approved, Murray says there are two options that can be done with the land. 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. 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. 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. She says, option one is deeding the property over to the Lake Elaine Homeowners and giving a lump sum payout of $2.5-million for them to be able to do an improvement on the lake as to what they would like, or option two is taking the $2.5-million and us creating a new amenity, which has four-to-five ponds, walking trails and benches which is open to all of the homeowners. Absentee ballots are due at the clubhouse by Thursday at 5 p.m., or residents can vote in person Saturday morning at 9 a.m. at Sinagua Middle School, where the vote count will take place. Continental Country Club mostly features cozy homes that are very reasonably priced. {{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.