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. 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! Tract D (Lake Elaine) is currently owned by the Association. This one-acre park, opened in 2013, includes a playground with a swing set and a picnic table. When will we know about the timing and amount of any assessments that will be needed? Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? Most of it, though, is the result of the Associations failure to plan and its collective failure to confront issues and take proactive steps to address them. The following is a statement from Lakeside Homeowners At Continental: Continental Country Clubs Financial Challenges Result From Failure to Plan and Confront Obligations. 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. Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. How will this affect the value of my home? 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. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. 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.. 219 4. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Get up-to-the-minute news sent straight to your device. . (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). An automatic stay is a provision in the bankruptcy law that temporarily prevents creditors, collections agencies, government entities, and individuals from pursuing Continental for amounts owed. 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. An HOA faces bankruptcy because of its man-made lake. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! and review fee to: Continental Country Club Architectural Control Committee 2380 N. Oakmont Dr. Flagstaff, AZ 86004 Front Rear Sides Lakeside Acres I 25 25 1) 25 Lakeside Acres II & III 20 20 10 Our clubhouse is over 50 years old and the other amenities require maintenance and repair. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. But for Continental to do any of this, theyll need money, and they dont deny that they need money for more than just Lake Elaine. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). If the plan is approved, Murray says there are two options that can be done with the land. By 2026, the annual dues increase will be $291. Who owns the property Lake Elaine is on and who is responsible for its redevelopment and construction? In a statement to the Arizona Daily Sun, Continental attorney Scott Cohen said, While Continental certainly has obligations other than the Lakefront Group, such as addressing its appropriate capital reserves to ensure proper maintenance of its amenities and common areas, this was not the primary cause for the bankruptcy filing.. They want the lake fixed, Bliss said. There are a lot of different options when it comes to housing in Continental Country Club. View Properties for Sale at Continental Country Club located in Wildwood, FL. 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. There are many unknowns under Chapter 7, which could include part or all of the current $15M bankruptcy claim from the lakefront owners and loss of amenities while still paying for them. 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. Payment $4,996 Price/Sq.Ft. Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. Give Us A Call: 1-888-452-6595. Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. Here are the top City of Flagstaff stories from 2022. To him, the results of this 2020 study were disturbing.. continental country club hoa fees. Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. . Will all country club members be allowed on the new redeveloped lake? Contrary to the Associations statements, a partial repair would cost nowhere near the millions of dollars suggested by the Association. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! If I havent yet paid my annual dues, will they still have to be paid? I just see that as being poorly managed, Penoff said. The Continental Country Club constructed Lake Elaine back in the 1970s. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. 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. We will keep our facilities open and our employees will be working to ensure business as usual. The funds usually have strict criteria for how they are to be used. Lease Details & Fees Details Property Information 78 units/1 story Location 445 Orange Ave , Chula Vista , CA 91911 Get Directions This Property Available Property 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 . 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. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. Continental Golf Course Is CLOSED for the Season! Flagstaff, AZ 86004, Call Continental Country Club at (928) 526-5125, on our EZLinks tee times page in a new tab. The property cannot be abandoned. Please subscribe to keep reading. 2380 N Oakmont Dr 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 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. Now, the HOA faces bankruptcy if it can't come up with $2.5 million. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. https://continentalflagstaff.com/fee-schedule-to-support-the-reorganization-plan/. 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. The . Example turn the golf course into single-family homes. 50 Continental Blvd. President - The president of the Board presides at all meetings of the Board of Directors. The benefits are endless and your experiences will last a lifetime. Continental owns and maintains the Walnut Canyon Lakes, and the Associations own experts have testified that Lake Elaine can be repaired. There has been much misinformation about the history of Lake Elaine and the ability to maintain lakes in this area. Even more, we do all the work of the Deed Restriction for you! 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. 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. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. 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. 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. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. CCC also had a balloon payment due in October, for $600,000. 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.