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Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. Our members are what makes the social membership so special. 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. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. 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 . If it is to be divested, it must be accepted by a third party. Search And Rescue Crews Tended To An Injured Hiker On Mt. There is a one-time special assessment of $2,000. Sign up for our newsletter to keep reading. 50 Continental Blvd. If we had hired a professional HOA management team a few years ago, could we have avoided all this? 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. The lake level has been falling because water is seeping out despite previous attempts to seal the lake bottom. Is there a Special Assessment Payment Plan? 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. These homeowners are known as Associate members. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. Flagstaff, AZ 86004, Call Continental Country Club at (928) 526-5125, on our EZLinks tee times page in a new tab. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! They want the lake fixed, Bliss said. Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. For more information contact Continental Country Club Guest Services at . 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.. Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. If APPROVED and Option A is selected, then the property will be deeded to the Lake Elaine owners. 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 original clubhouse was built in 1960. This discount allows members & guests to enjoy the lowest rates offered on our rack card. It has not been a normal winter in Flagstaff. Voting to approve these additional funds ends July 28. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. The Continental Country Club in Flagstaff is bankrupt. 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. Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. 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. What is the process required to divest the HOA of Lake Elaine? Contrary to the Associations statements, a partial repair would cost nowhere near the millions of dollars suggested by the Association. 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 Get up-to-the-minute news sent straight to your device. He said the HOA has several other significant expenses and issues that have prevented it from properly facing those issues. Reserve your next round of golf with our quick and convenient online booking engine. 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 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. From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. continental country club hoa fees. If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. 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. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. Continental Country Club HOA is a community located in Chula Vista, CA (San Diego County). 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. Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent Are our property assessments used for this? 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. For the good of our residents and those who enjoy our facilities, it was time to take action.. 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. In 2006 Continental Country Club succeeded in unifying (11) different sets of CC&Rs for individual single-family subdivisions. You can cancel at any time. 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. The issues we are dealing with today began 30 years ago and the current board wasnt a part of. Subscribe to our Daily Headlines newsletter. The community is gated, includes 24/7 security and even allows pets. 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? Come see us today! However, a Chapter 7 panel trustee would be appointed and all decisions regarding the operations of the HOA will be made by the Trustee. Print Subscribe Was this page helpful? 3. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. https://continentalflagstaff.com/fee-schedule-to-support-the-reorganization-plan/. Membership in Continental is a result of home ownership. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? 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. There was a problem saving your notification. Zillow has 3 homes for sale in 34785 matching Continental Country Club. 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 remaining properties consist of Townhomes, Condos and timeshares. Flagstaff, Feb. 12, 2021 Continental Country Club is a great place to live and provides many amenities for the broader community. That would be within the discretion of the trustee. Will there be a special assessment to help cover some of the debts? The Ferraro Groups contract and the previous Cindy May Marketing contract are for the same amount. 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. Ensure continued use of our club amenities and environment. Why are there currently some members paying different assessment rates? By the end of the year, they expected they could get that number to $125,000. Court reservations required. This included signage, team captain materials and t-shirts. The costs are too much of a burden for members on a fixed income? The work and fines until the lake was filled amounted to a lot of money that our Association does not have. What is the difference between Chapter 11 Reorganization and Bankruptcy? Dues increases and/or special assessment would have been necessary even if a professional management company was involved. There are many types of townhomes available from $300,000 - $500,000. Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. I just see that as being poorly managed, Penoff said. Why did the Board decide to take this step now? This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. Continental Country Club is a neighborhood in Wildwood, Florida. The benefits are endless and your experiences will last a lifetime. Can I see a Reserve Study Summary of expenditures broken out by amenity? When were the clubhouse and clubhouse pool built? In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. The Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. Wyndham also contributes 50% of the cost of running the Fitness Center and pays for all Capital Improvements at Bear Paw + 60% of the operational day-to-day costs. Do all members of the HOA get to vote for the new HOA Dues and Special Assessment? The criteria is based on the HOA community rules and regulations, bylaws and accountability. The 18-hole championship golf course at Continental Country Club is among the best-rated public courses in Flagstaff come visit us today to see why! 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. Log in, Continental Country Club HOA in Chula Vista, CA, Terraza at Otay Ranch Village HOA in Chula Vista, CA, Chula Vista Bayfront HOA in Chula Vista, CA. 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.. The funds usually have strict criteria for how they are to be used. There are many unknowns associated with a conversion to Chapter 7. 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. You have permission to edit this article. A member may cease paying in protest, but the trustee will ultimately have the same rights CCC currently has to enforce and compel payment ultimately filing a lien on the property and foreclosing. Based on the HOAs rules, those fees can only be raised by a two-thirds vote by all members. Why am I paying for amenities I dont use? Once that happens, and at the approval of the homeowners, selling the golf course is something that can be discussed. 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. This included an offer to complete a partial top-down repair to buy more time. By 2026, the annual dues increase will be $291. Background: How did we get in this situation regarding Lake Elaine and the Bankruptcy? 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. 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. Round Table Discussions will be held on every, We will also be having Town Hall Meetings for everyone who is interested in attending. An HOA faces bankruptcy because of its man-made lake. . The Class also estimates this temporary solution could be completed quickly in months, not years. 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. Flagstaff City Championship Flyer At the beginning of the Chapter 11 process, we explained that values may be negatively affected. 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.. Please subscribe to keep reading. If the plan is approved, Murray says there are two options that can be done with the land. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. A big vote is underway at Continental Country Club in East Flagstaff. Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. 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