The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. Still, Chapter 7 and the liquidation of assets that would follow are by no means in Continentals interests. The criteria is based on the HOA community rules and regulations, bylaws and accountability. The costs are too much of a burden for members on a fixed income? 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. In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. This discount allows members & guests to enjoy the lowest rates offered on our rack card. For the good of our residents and those who enjoy our facilities, it was time to take action.. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? 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. junio 12, 2022. jonah bobo 2005 . Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. 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. If it is to be divested, it must be accepted by a third party. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. 27470 Jefferson Ave. Pizza making Mamma mia, we love this one! Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. Why did the Board decide to take this step now? A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. 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 If we had hired a professional HOA management team a few years ago, could we have avoided all this? Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. Is it possible to leave the HOA so we're not part of it? 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. 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. How do timeshares fit into the funding picture? After the October 30th preliminary ruling, the board studied and reviewed all possibilities, along with speaking with several professionals and our attorneys. We have the receipts. In a recent newsletter to Continental residents, General Manager Tahlia Murray confirmed that if unable to emerge from Chapter 11 Bankruptcy and forced to file Chapter 7 Bankruptcy, the Lake Elaine lawsuit would cease, as the HOA cannot be sued by Lake Elaine property owners or any other entity under Chapter 7. Email notifications are only sent once a day, and only if there are new matching items. Starting in 2024, associate members would owe an additional $63 for 2024, 2025, and 2026. Meeste parka Helly Hansen Continental XL UUS. Option #1 would be to deed the land to the 52 lakefront owners and pay them $2.5 million to repair and maintain the lake in perpetuity. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! For the most part, most of our Members should not be affected by this petition. 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.. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. Reserve your next round of golf with our quick and convenient online booking engine. How much are you paying for these signs Im seeing, and this PR firm? Even more, we do all the work of the Deed Restriction for you! You can cancel at any time. Can we just abandon the property? 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. The Villages, FL 32162 Directions. Held says the work would take time and millions of dollars. 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 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. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. That's not what any of our folks want. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). Are our property assessments used for this? But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. CCC also had a balloon payment due in October, for $600,000. What is the source of funds that are being used to pay for all the signage and banners to support the special assessment? Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. Continental Country Club mostly features cozy homes that are very reasonably priced. Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. 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. Becoming a member at Continental Country Club is an investment in yourself, your family and your future. In some cases, these problems predate the current board by years, if not decades. But some lakefront residents on the other side of the legal battle have a different perspective. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. Zillow has 3 homes for sale in 34785 matching Continental Country Club. Will there be a special assessment to help cover some of the debts? If the plan is approved, Murray says there are two options that can be done with the land. 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! 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 January newsletter provided to homeowners did reference that bankruptcy was an option that was being considered. This community dates back to 1975 and has continued to develop over the years. I dont golf. What are we voting on, what is the timeline/details? Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. Quick Facts Getting Around Continental Country Club Continental Country Club Learn more about this neighborhood. 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. Our main desire is for members and guests, alike, to have a memorable golfing experience. The Lakeside Homeowners would lose as much as any other owner would if the bankruptcy ended in a liquidation.. Residents are deciding whether or not to approve a raise in HOA fees and a one-time special assessment of $2,000. 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. The hoa policies can change with time for Continental Country Club so if you see an error please contact us so we can fix it. The Associations responsibility to maintain Lake Elaine has been well established for decades based on a 1990 court-ordered Judgment that the Coconino County Superior Court upheld in October of 2020 following nearly four years of litigation, including multiple attempts at mediation and a weeklong hearing. Home to one of the best-rated public golf courses in Flagstaff, AZ. The first payment would be due the same day as the due date for the special assessment. Contrary to the Associations statements, a partial repair would cost nowhere near the millions of dollars suggested by the Association. 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. At the time of the study, Continentals reserve balance was $54,291. Sean Golightly reports on the environment and the city of Flagstaff. 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. ", 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. What is the process required to divest the HOA of Lake Elaine? Flagstaff City Championship Flyer These homeowners the Class believe that the Association has options to address its financial challenges. 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. 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. Are you looking for a great restaurant? 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. 150 Saab tingida. A future owner of your home may find golf or the other amenities appealing. In a Chapter 7 does the trustee manage the HOA? In a Chapter 7 does the HOA remain in place? Continental Country Club HOA is a community located in Chula Vista, CA (San Diego County). Membership in Continental is a result of home ownership. First used to store water for the golf course, Lake Elaine is now only aesthetic, but has been leaking water for decades. 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. 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. 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. But, in the 1990s, disaster struck. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. The Kroger Co. Flagstaff, Feb. 12, 2021 Continental Country Club is a great place to live and provides many amenities for the broader community. 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. Continental Golf Course Is CLOSED for the Season! 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 . However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. How does the Chapter 11 filing affect me as a Continental Country Club Member? 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%.