The Continental Country Club in Flagstaff is bankrupt. There is a one-time special assessment of $2,000. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. The Continental Country Club constructed Lake Elaine back in the 1970s. 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. 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. 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. But some lakefront residents on the other side of the legal battle have a different perspective. Why are there currently some members paying different assessment rates? Learn More on our tournaments page. Bliss said they believe that most of the leaks are in the upper portion of Lake Elaine and targeting repairs toward that section of the lake would go a long way in solving the problem. Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? 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. No true repairs have been made to the Lake since 1994. In short, Continentals answer was that the prohibitive cost of maintenance and legal battles over their failure to maintain the leaky man-made Lake Elaine was insurmountable. 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 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. It has asked residents to vote to approve a $2,000 special assessment payment and a 20% increase in annual dues to help the country club emerge from bankruptcy and turn Lake Elaine into something less costly. In a Chapter 7 does the trustee manage the HOA? However, a Chapter 7 panel trustee would be appointed and all decisions regarding the operations of the HOA will be made by the Trustee. Court reservations required. We view this as an action being led by forces out of our control and hope it can be an opportunity to strengthen our Associations financial position for years to come. Number of Units: 973 Offices of the Board of Directors and their Duties The officers of the board of directors are generally president, vice-president, secretary, treasurer and member at large. At the time, it was an asset to the HOA. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. This discount allows members & guests to enjoy the lowest rates offered on our rack card. The owners of these properties are also obligated to pay annual assessments to CCC based on their respective CC&Rs. Tract D (Lake Elaine) is currently owned by the Association. If I haven't yet paid my annual dues, will they still have to be paid? A draft reserve study has been received and is under review that shows that millions of dollars are needed over the next 10 years and through 2050. 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. 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. These homeowners - the "Class" - believe that the Association has options to address its financial challenges. 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.. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. 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! How does the Chapter 11 filing affect me as a Continental Country Club Member? Still, Chapter 7 and the liquidation of assets that would follow are by no means in Continentals interests. The Kroger Co. For the most part, most of our Members should not be affected by this petition. You can cancel at any time. In some cases, these problems predate the current board by years, if not decades. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. The question is why. 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! 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. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. HOA Documents Articles of Incorporation CC&Rs Bylaws Membership Policies Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. 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. There were several additions made in the 1970s. Give Us A Call: 1-888-452-6595. The reorganization plan imposes a one-time special assessment of $2,000. 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. 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. You have permission to edit this article. What is the source of funds that are being used to pay for all the signage and banners to support the special assessment? And it's free! We have compensated by charging usage fees and not giving golf discounts to those who do not pay the full amount. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. The Trustee is charged with maximizing distributions to creditors. Example turn the golf course into single-family homes. We do not currently expect the LFOs to elect Option A. Continental is responsible for those owners access to amenities and common area maintenance. The funds usually have strict criteria for how they are to be used. This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. This included signage, team captain materials and t-shirts. We also have aging facilities that require upkeep with an insignificant amount of reserves. 150 Saab tingida. Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. View Properties for Sale at Continental Country Club located in Wildwood, FL. 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. Fee: Continental Country Club HOA or Social Membership fee required. One that was, you know, competent., Financial mismanagement reaches further back than the 2020 study, said resident John Nilsson. If Option B is selected, the redesign will be the Associations responsibility. 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. Flagstaff City Championship Flyer Continental Country Club HOA is a community located in Flagstaff, AZ (Coconino County). Voting to approve these additional funds ends July 28. The property cannot be abandoned. 27470 Jefferson Ave. Pizza making Mamma mia, we love this one! junio 12, 2022. jonah bobo 2005 . Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? Why are there currently some members paying different assessment rates? A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country clubs homeowners association and other residents. 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.. Continental Country Clubs HOA files for Chapter 11 bankruptcy. Are you looking for a great restaurant? Sign up for our newsletter to keep reading. If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. A Flagstaff man is behind bars, charged with aggravated DUI and kidnapping. What is the difference between Chapter 11 Reorganization and 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 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. Jon Held, the president of the associations board of directors, said the filing will not impact day-to-day operations of the country club, including the public golf course and the Oakmont Restaurant, and won't mean any layoffs. The Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. 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. Are the fines associated with the October 2020 preliminary ruling being assessed currently? And its free! This option would release the Association from, Option #2 would be to spend that $2.5 million and create the new amenity. 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. The criteria is based on the HOA community rules and regulations, bylaws and accountability. Continental received $1500 in donations for marketing materials for the campaign. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. . Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. This area is served by the Sweetwater Union High attendance zone. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. The failure to plan by the association, the failure to reserve funds, have really put the association in a tough spot.. If the plan is approved, Murray says there are two options that can be done with the land. 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. 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. Register for our eClub to receive regular offers and updates from Continental CC! Continental Country Club HOA is a community located in Chula Vista, CA (San Diego County). Can I see a Reserve Study Summary of expenditures broken out by amenity? Lease Details & Fees Details Property Information 78 units/1 story Location 445 Orange Ave , Chula Vista , CA 91911 Get Directions This Property Available Property (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). 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. The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. Come see us today! At the time of the study, Continentals reserve balance was $54,291. 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. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. 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 . The special assessment will go into effect immediately and the annual dues increase, phased over three years, is estimated to begin in 2024. https://continentalflagstaff.com/planning-for-a-special-assessment-of-2000/, As the CC&Rs are currently written, townhome and condos have the right to vote on special assessments and on annual assessment increases of over 20%. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. 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. We do support the vote for the additional funds for the homeowners association.. The following is a statement from Lakeside Homeowners At Continental: Continental Country Clubs Financial Challenges Result From Failure to Plan and Confront Obligations. These membership tiers are subdivision specific. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. Are our property assessments used for this? 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. 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. Our main desire is for members and guests, alike, to have a memorable golfing experience. Four Star Homes has Properties in Adult, Family, and Senior Communities throughout Central Florida. Quite honestly, I can't imagine a professional management company letting this happen. To him, the results of this 2020 study were disturbing.. 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. 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. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. 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. Panda Express is expanding to east Flagstaff. Is there money set aside for the management of the HOA & enforcement of CC&Rs? 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. On this point, the Legionnaires agree. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. 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.. Buying a new home in the Continental area? 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. There was a problem saving your notification. The association has said that any lake repair would cost millions of dollars. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). This included an offer to complete a partial top-down repair to buy more time. These properties have individual property management companies who handles their CC&R enforcement and day-to-day operation. Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. Dues increases and/or special assessment would have been necessary even if a professional management company was involved. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. 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. They don't want to claim for damages. . I just see that as being poorly managed, Penoff said. Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change. The Ferraro Groups contract and the previous Cindy May Marketing contract are for the same amount. 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. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. 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. 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! CCC also had a balloon payment due in October, for $600,000. There was a problem saving your notification. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. The Class also estimates this temporary solution could be completed quickly in months, not years. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. The Continental Country Club in Flagstaff is bankrupt. 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? 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. 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. 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. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. What date did this filing for Chapter 11 Reorganization take effect? But Bliss also took issue with the HOAs suggestion that the issue over Lake Elaine was the primary cause of the bankruptcy. Our members are what makes the social membership so special. Reserve your next round of golf with our quick and convenient online booking engine. 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. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . Beginning 2024, we have three small increases to annual dues of $97 which resolves deferred maintenance and creates appropriate reserves/plan for maintaining building/grounds. The Board President of the Homeowners Association of Continental Country Club in Flagstaff, . Continental Golf Course Is CLOSED for the Season! Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. Subscribe to our Daily Headlines newsletter. 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/. Under the option, it would deed the Lake Elaine footprint to the lakefront owners and provide them $2.5 million raised from the proposed $2,000 payments so that the Legionnaires can implement a smaller lake or any other solution the Lakefront Group determines is appropriate with the resources available, and thereafter, maintain such improvements as they deem fit with no further contribution from [Continental] or its broader membership., Based on their statement, the reason Continental wants to sever their responsibility for maintaining Lake Elaine has to do with their skepticism that a long-term, sustainable lake is possible. 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. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! 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.