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. 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. 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. That fee would drop to $500 if the HOA begins refilling the lake and continue until it is full. Register for our eClub to receive regular offers and updates from Continental CC! 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. . Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? This anomaly resulted in 1994. Continental owns and maintains the Walnut Canyon Lakes, and the Associations own experts have testified that Lake Elaine can be repaired. He is a big sweetheart but a little too rough for my Pygmy Goats. Panda Express is expanding to east Flagstaff. CCC also had a balloon payment due in October, for $600,000. If I haven't yet paid my annual dues, will they still have to be paid? 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. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent 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! Joining the Continental Country Club HOA is the easiest way to protect your property's value! Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. At the time of the study, Continentals reserve balance was $54,291. 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. While the pending contempt order and associated fines were the catalyst for this action, there were also underlying considerations including an October 21 obligation to pay a $600,000 balloon payment incurred when funds were borrowed to install a new golf course irrigation system in October 2011. A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. (link to message). The trustee is appointed to liquidate and pay, not operate. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. Board Members for Continental Country Club Ro: Title Name Mailing Address Location; Dire . In a Chapter 7 does the trustee manage the HOA? Quite honestly, I can't imagine a professional management company letting this happen. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! 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. That resulted in two levels. 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. 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. You have permission to edit this article. 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. 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The benefits are endless and your experiences will last a lifetime. 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. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. 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. Continental Country Club Who are the members of CCC? Is it possible to leave the HOA so we're not part of it? The Trustee is charged with maximizing distributions to creditors. The lake level has been falling because water is seeping out despite previous attempts to seal the lake bottom. The court ruled in October the man-made lake must be repaired and the association would be fined $700 a day until work started, then lowered to $500 a day until work was completed. You know, we think a partial repair could have been done for as little as $600,000, said attorney Jason Bliss with the office of Aspey Watkins and Diesel, who is representing the homeowners. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. The costs are too much of a burden for members on a fixed income? 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. Membership in Continental is a result of home ownership. Court reservations required. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Nebraska cheerleader competes by herself at state competition, but crowd doesn't let her feel alone, One we will all remember: Flagstaff sees second-snowiest winter in recorded history to date, Trees also feeling effects of winter storms in Flagstaff, Driver arrested for DUI, kidnapping after hitting a Flagstaff police patrol vehicle, Flagstaff History: Powwow is a 'go' for summer, Flagstaff Eagles win first girls basketball title in 31 years, The experience for jurors in Coconino County is changing, Letter to the Editor: Local pleads to city to put foot down on short-term rentals, Investigation underway after body found near Sunset Crater National Monument, Flagstaff schools planning to make up instructional time after this winter's snow days, Flagstaff and Summit Fire crews battle Baderville house fire in a blizzard Thursday night, KFC is bringing back a fan favorite after a nearly 10-year hiatus, Former NFL star Chad Johnson says he saved money by living inside Cincinnati Bengals stadium for 2 years, Another winter storm to drop 14-22 inches of snow on Flagstaff, northern Arizona, Global race is on to improve EV range in the cold, Moscow reportedly threatened new parents in Ukraine: Register your newborns as Russian or else, The impact of climate change will be felt worse in these three U.S. cities, Scientists reveal hidden corridor in Great Pyramid of Giza. We are located on St Rte 44 just 2.5 miles east of Brownwood Continental is responsible for those owners access to amenities and common area maintenance. There are many unknowns associated with a conversion to Chapter 7. This community dates back to 1975 and has continued to develop over the years. 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. There is no definite date as to when the clubhouse pool was built; however, there is a 1979 photograph showing the pool and the two adjacent tennis courts. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! 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. I just see that as being poorly managed, Penoff said. It is not clear how the bankruptcy might impact the Lake Elaine issue, but Bliss said it could lead to a situation where the HOA is able to eliminate the lake but pay the surrounding homeowners for the reduced value of their homes. . The question is why. 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. 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. Continental Country Clubs HOA files for Chapter 11 bankruptcy. Our main desire is for members and guests, alike, to have a memorable golfing experience. The association has said that any lake repair would cost millions of dollars. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. The Lake Elaine lawsuit was based on a 1990 Amended Judgement and Settlement that was rejected by the bankruptcy court earlier this year. The Continental Country Club constructed Lake Elaine back in the 1970s. 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. 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. 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. These homeowners - the "Class" - believe that the Association has options to address its financial challenges. And its free! Do all members of the HOA get to vote for the new HOA Dues and Special Assessment? If I havent yet paid my annual dues, will they still have to be paid? 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. Once that happens, and at the approval of the homeowners, selling the golf course is something that can be discussed. Then, you've come to the right place. 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 2020 Continental knew it had some big expenses coming up, and the study was designed to help it figure out how to keep money in the bank. Yes, there is nothing inherent in Chapter 7 that dissolves the HOA. 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. Continental has known about its financial challenges for years, even decades, but neglected to plan for or properly address them. 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. 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! 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.
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