But [Continental] withdrew from those discussions and instead filed for bankruptcy., One of these flexible options that the Legionnaires indicated would be acceptable to them is a plan to refill Lake Elaine to a lower elevation below where a majority of the lakes liner failure and leaks have been occurring. Now, the HOA faces bankruptcy if it can't come up with $2.5 million. Payment $4,996 Price/Sq.Ft. On this point, the Legionnaires agree. 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. How will this affect the value of my home? It is not true that the Lakeside Homeowners want to bankrupt [Continental], the Legionnaire statement says. But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. In 1988, a group of lakeside homeowners filed a class action lawsuit against the HOA that mandated that the HOA should keep the lake full, but so far, no significant repairs to stop seepage have moved forward. Continental Golf Course Is CLOSED for the Season! They are down to earth, fun-loving people that enjoy spending time together laughing over great food and refreshing drinks. The costs are too much of a burden for members on a fixed income? Why didnt the Board give us a warning that this was going to happen? If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. continental country club hoa fees. Quite honestly, I can't imagine a professional management company letting this happen. 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. Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. 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. I dont golf. 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. 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. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. 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. What are we voting on, what is the timeline/details? It has not been a normal winter in Flagstaff. By the end of the year, they expected they could get that number to $125,000. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! 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.. Zillow has 3 homes for sale in 34785 matching Continental Country Club. 2380 N Oakmont Dr Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. Becoming a member at Continental Country Club is an investment in yourself, your family and your future. Can we just abandon the property? 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. 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. This community dates back to 1975 and has continued to develop over the years. Still, Chapter 7 and the liquidation of assets that would follow are by no means in Continentals interests. In some cases, these problems predate the current board by years, if not decades. The Continental Country Club in Flagstaff is bankrupt. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent The fee had been set to begin at the start of February, . CCC also had a balloon payment due in October, for $600,000. 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! The owners of these properties are also obligated to pay annual assessments to CCC based on their respective CC&Rs. If the plan is approved, Murray says there are two options that can be done with the land. The issues we are dealing with today began 30 years ago and the current board wasnt a part of. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. 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. 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. First used to store water for the golf course, Lake Elaine is now only aesthetic, but has been leaking water for decades. By 2026, the annual dues increase will be $291. 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. 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. 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. 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. The funds usually have strict criteria for how they are to be used. The Wyndham Timeshares (125 units) are Full Members of Continental just like all other owners. HOA Legal Name: CONTINENTAL COUNTRY CLUB R.O., INC. 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. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. Lake Elaine did not cause Continental to file bankruptcy, but the Class can potentially be a partner finding practical solutions to address the Associations financial constraints for the benefit of all members. 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. President - The president of the Board presides at all meetings of the Board of Directors. 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. 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. This offer was rejected, and the Class finds it unfortunate that the Association refused to further negotiate before moving forward with Chapter 11 in secret with no transparency or consultation of any members. Not necessarily. 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. An HOA faces bankruptcy because of its man-made lake. 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. Print Subscribe Was this page helpful? Flagstaff, AZ 86004, Call Continental Country Club at (928) 526-5125, on our EZLinks tee times page in a new tab. Professional management associations still report to a board of directors which makes final decisions. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! Round Table Discussions will be held on every, We will also be having Town Hall Meetings for everyone who is interested in attending. Now, it has turned to owners for funding. Is it possible to leave the HOA so we're not part of it? 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. Our main desire is for members and guests, alike, to have a memorable golfing experience. Schedule: No open play during the off-season (Nov-Apr). For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. 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. The reorganization plan imposes an increase to our annual assessment that will be phased in over three years beginning in 2024. 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. Why did the Board decide to take this step now? So, we either pay the known $2.5 million now, or pay more later up to the $15 million? 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. 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. Main: (928) 526-5125Oakmont: (928) 526-7990Golf Shop: (928) 527-7997Bear Paw: (928) 522-1588, 2023 CONTINENTAL COUNTRY CLUB ALL RIGHTS RESERVED, Violation Enforcement Policy and Fine Schedule. Are the fines associated with the October 2020 preliminary ruling being assessed currently? That would be within the discretion of the trustee. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? Three People Were Killed In A Multi-Vehicle Accident On I-40 Near Williams Tuesday, Flagstaffs Mayor Paul Deasy Declares A State Of Emergency For The City Due To Post-Pipeline Fire Flooding, 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. 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. 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. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. We will keep our facilities open and our employees will be working to ensure business as usual. When will we know about the timing and amount of any assessments that will be needed? A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. Voting to approve these additional funds ends July 28. After the October 30th preliminary ruling, the board studied and reviewed all possibilities, along with speaking with several professionals and our attorneys. The . 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. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. The Course is open to homeowners and timeshare owners residing within subdivisions of Continental Country Club's Homeowners Association. There are many types of townhomes available from $300,000 - $500,000. Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. Register for our eClub to receive regular offers and updates from Continental CC! Flyer Link. One that was, you know, competent., Financial mismanagement reaches further back than the 2020 study, said resident John Nilsson. Do all members of the HOA get to vote for the new HOA Dues and Special Assessment? That's not what any of our folks want. Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? You can cancel at any time. It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. Home to one of the best-rated public golf courses in Flagstaff, AZ. 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. 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. There are constant ongoing repairs and improvements required for these assets that must be addressed. 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. 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 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" The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). If we convert to Chapter 7, the HOA cannot be sued by Lake Elaine property owners or any other entity. This included signage, team captain materials and t-shirts. We also have aging facilities that require upkeep with an insignificant amount of reserves. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. How does the Chapter 11 filing affect me as a Continental Country Club Member? 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. Trees are falling in Flagstaff and have been compromised as a result of recent winter storms. One thing to remember, you will be required to pay additional Home Owner . At the time, it was an asset to the HOA. At the time of the study, Continentals reserve balance was $54,291. Learn More on our tournaments page. A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. The Class also estimates this temporary solution could be completed quickly in months, not years. Homeowners have a duty to pay their annual dues and this holds true even while in a Chapter 11 reorganization. So, you know, we know that the association is trying to make this look like it's the bankruptcy is all about Lake Elaine, but the association has a number of financial problems, several of which are not related to Lake Elaine, Bliss said. Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. 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. The Lake Elaine lawsuit was based on a 1990 Amended Judgement and Settlement that was rejected by the bankruptcy court earlier this year. There are many unknowns associated with a conversion to Chapter 7. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? No true repairs have been made to the Lake since 1994. Who owns the property Lake Elaine is on and who is responsible for its redevelopment and construction? Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. The failure to plan by the association, the failure to reserve funds, have really put the association in a tough spot.. The Continental Country Club in Flagstaff is bankrupt. To him, the results of this 2020 study were disturbing.. There was a problem saving your notification. 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. Subscribe to our Daily Headlines newsletter. The filing for Chapter 11 reorganization stays those fines. 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! When were the clubhouse and clubhouse pool built? If you are looking for our main website, click here. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). Continental Country Club mostly features cozy homes that are very reasonably priced. That resulted in two levels. Get Adobe Acrobat Reader free to view these files. 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. 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.. Lease Details & Fees Details Property Information 78 units/1 story Location 445 Orange Ave , Chula Vista , CA 91911 Get Directions This Property Available Property Continental Country Club Who are the members of CCC? The amount of a one-time special assessment and annual dues increases has been discussed earlier in this section as well as in several Things to Know messages. The money for the signs was donated. ", The issue is further complicated by the fact that Continental and the Legionnaires cant seem to agree on how much it would cost to repair and maintain even a small lake option. junio 12, 2022. jonah bobo 2005 . The original clubhouse was built in 1960. Continental Country Club HOA is a community located in Flagstaff, AZ (Coconino County). 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 You can cancel at any time. 219 4. Held says the work would take time and millions of dollars. 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/.