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The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. But some lakefront residents on the other side of the legal battle have a different perspective. From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. 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. If we convert to Chapter 7, the HOA cannot be sued by Lake Elaine property owners or any other entity. 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. The Lakeside Homeowners would lose as much as any other owner would if the bankruptcy ended in a liquidation.. The criteria is based on the HOA community rules and regulations, bylaws and accountability. A 1991 class action lawsuit ruling stated the lake must remain full. Print Subscribe Was this page helpful? We are located on St Rte 44 just 2.5 miles east of Brownwood Wyndham also contributes 50% of the cost of running the Fitness Center and pays for all Capital Improvements at Bear Paw + 60% of the operational day-to-day costs. The Boards decision to take this step relied on a three-pronged financial problem that was accelerated after the October 30th preliminary ruling of finding CCC in contempt for having not maintained Lake Elaine consistent with a 1990 Consent Decree, discussed below. Deeper into Lake Elaine: Residents contend lake is not to blame for country clubs bankruptcy. Zillow has 3 homes for sale in 34785 matching Continental Country Club. 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. If it is to be divested, it must be accepted by a third party. When were the clubhouse and clubhouse pool built? So, we either pay the known $2.5 million now, or pay more later up to the $15 million? 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. 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 question is why. Sean Golightly reports on the environment and the city of Flagstaff. The court agreed, and a daily fee of $700 was placed on the HOA for not filling the lake. But, in the 1990s, disaster struck. These properties have individual property management companies who handles their CC&R enforcement and day-to-day operation. Is it possible to leave the HOA so we're not part of it? How will this affect the value of my home? Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. If Option A is selected from the Amended Disclosure (not expected) then the property will be deeded to the Lake Elaine Owners and become, If Option B is selected, the redesign trails and ponds will be the responsibility of the Association and. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. 2011 Sunwest loan with Oct. 2021 balloon payment due, Deferred and anticipated club amenity maintenance, Decades-long Lake Elaine lawsuit with potential daily fines of up to $700 per day and restoration of a full lake. 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. 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. CCC also had a balloon payment due in October, for $600,000. In the mean time the proshop will still be open Tuesday- Saturday 9am-4pm. The issues we are dealing with today began 30 years ago and the current board wasnt a part of. A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. The benefits are endless and your experiences will last a lifetime. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. 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. There were several additions made in the 1970s. 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 HOA remain in place? 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. 3mi Publix Quick Picks Delivery by 11:00am Walgreens Delivery by 3:35am Sam's Club Delivery by 11:00am ABC Fine Wine & Spirits Delivery by 2:00pm. We have the receipts. 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. Even more, we do all the work of the Deed Restriction for you! 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . 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. 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. 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. Flagstaff, AZ 86004, Call Continental Country Club at (928) 526-5125, on our EZLinks tee times page in a new tab. 2380 N Oakmont Dr Continental Golf Course Is CLOSED for the Season! The Continental CC course can host up to 144 golfers at a time with a shot gun start. This one-acre park, opened in 2013, includes a playground with a swing set and a picnic table. What are we voting on, what is the timeline/details? Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. 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! Email notifications are only sent once a day, and only if there are new matching items. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. There was a problem saving your notification. What is the source of funds that are being used to pay for all the signage and banners to support the special assessment? Now, the HOA faces bankruptcy if it can't come up with $2.5 million. There are many types of townhomes available from $300,000 - $500,000. 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. He is a big sweetheart but a little too rough for my Pygmy Goats. Its those reasons why the Club went into Chapter 11 bankruptcy in February of 2021. 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 association has said that any lake repair would cost millions of dollars. Continental Country Club has 2,395 owners. 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. Flagstaff City Championship Flyer Then, you've come to the right place. Continental Country Club mostly features cozy homes that are very reasonably priced. Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. Get up-to-the-minute news sent straight to your device. 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. 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. 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. 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. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. 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. It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. Continental Country Club's HOA files for Chapter 11 bankruptcy (AZ) 17 Feb, 2021 Print this article Font size - 16 + 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. There are condominiums, big and small, that you can purchase in the $180,000 - $300,000 price range. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). 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. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. The Class also estimates this temporary solution could be completed quickly in months, not years. It is not true that the Lakeside Homeowners want to bankrupt [Continental], the Legionnaire statement says. 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. The first payment would be due the same day as the due date for the special assessment. Four Star Homes has Properties in Adult, Family, and Senior Communities throughout Central Florida. By 2026, the annual dues increase will be $189. 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. 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. HOA Documents Articles of Incorporation CC&Rs Bylaws Membership Policies 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 Selling the golf course is not legally a feasible option until we emerge from Chapter 11 bankruptcy. The costs are too much of a burden for members on a fixed income? 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. All owners of lots subject to the declaration are required to be members of Continental Country Club, Inc., per the recorded declaration. The trustee is appointed to liquidate and pay, not operate. 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 They are down to earth, fun-loving people that enjoy spending time together laughing over great food and refreshing drinks. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. 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. junio 12, 2022. jonah bobo 2005 . Search And Rescue Crews Tended To An Injured Hiker On Mt. Why did the Board decide to take this step now? What happens if 2 YES (APPROVE) for Special Assessment and Annual Dues Increase? No true repairs have been made to the Lake since 1994. HOA Legal Name: CONTINENTAL COUNTRY CLUB R.O., INC. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! We will keep our facilities open and our employees will be working to ensure business as usual. At Continental, you are more than a member; you are part of the family. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). The Trustee is charged with maximizing distributions to creditors. The Continental Country Club constructed Lake Elaine back in the 1970s. Back then, the increase had to be approved in each single-family subdivision. 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. Still, Chapter 7 and the liquidation of assets that would follow are by no means in Continentals interests. The community is gated, includes 24/7 security and even allows pets.