What date did this filing for Chapter 11 Reorganization take effect? This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. How much are you paying for these signs Im seeing, and this PR firm? It is not true that the Lakeside Homeowners want to bankrupt [Continental], the Legionnaire statement says. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. 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. A Big Vote Is Underway At Continental Country Club Deeper into Lake Elaine: Residents contend lake is not to blame for The costs are too much of a burden for members on a fixed income? Are you looking for a great restaurant? Membership - Continental Country Club 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. Please subscribe to keep reading. 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. For the most part, most of our Members should not be affected by this petition. *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. 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. To him, the results of this 2020 study were disturbing.. Voting to approve these additional funds ends July 28. Staffed with talented and devoted professionals, Continental Country Club is among the area's best-rated public courses. Learn More on our tournaments page. 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. Here are the top City of Flagstaff stories from 2022. 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 Country Club Continental Country Club Website Continental Country Club Townhomes and Condos Property listings 1 - 2 of 2 1 Sort by: Open House $320,000 MLS # 192269 1 Bed 1 Bath 745 Sqft Status: Active Condominium 2650 Valley View Drive Unit 226 Flagstaff, AZ 86004 $465,000 MLS # 191389 2 Beds 2 Baths 1,387 Sqft Status: Active Townhome 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. 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. All Single-Family homes governed by the CC&Rs are obligated to pay an annual lot assessment. Meeste parka Helly Hansen Continental XL UUS. He is a big sweetheart but a little too rough for my Pygmy Goats. Back then, the increase had to be approved in each single-family subdivision. Subscribe to our Daily Headlines newsletter. Helly Hansen Active Winter sulejope UUS! Call the Pro Shop at 352-748-3293 to reserve your tee time Welcome to Continental Country Club Are you looking for a great golf course? Other factors include a $600-thousand balloon payment coming due on a loan that was taken out in 2011 to complete installation of a new irrigation system on the course, and additional costs far exceeded the revenue generated by HOA fees. Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. Continental received $1500 in donations for marketing materials for the campaign. 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 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%. On this point, the Legionnaires agree. Flagstaff City Championship Flyer 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. Arizona HOA Faces Bankruptcy Over Man-Made Lake What remains to be seen is whether Continental will get the votes they need to avoid Chapter 7, what will finally become of the contentious Lake Elaine,and whether the organization will be able to repair its financial situation in the long run. The fee had been set to begin at the start of February, . lbdoe.bluebeard.best 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. Continental Country Club | Continental Country Club Mobile Homes A July 14 article for the Arizona Daily Sun explored the issue through testimony from management of the country. When will we know about the timing and amount of any assessments that will be needed? If we had hired a professional HOA management team a few years ago, could we have avoided all this? Example turn the golf course into single-family homes. Reorganization comes after decades of the Association kicking the can down the road. 27470 Jefferson Ave. Pizza making Mamma mia, we love this one! There are constant ongoing repairs and improvements required for these assets that must be addressed. A big vote is underway at Continental Country Club in East Flagstaff. 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. $273 Buyer's Agent Commission 2.5% Street View Directions Ask Redfin Agent Cody a Question Cody Bauer Flagstaff Redfin Agent That would be within the discretion of the trustee. Then, you've come to the right place. Continental Country Club is a neighborhood in Wildwood, Florida. We do not currently expect the LFOs to elect Option A. Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. Continental Country Club. Now, the HOA faces bankruptcy if it can't come up with $2.5 million. You have permission to edit this article. . Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! In some cases, these problems predate the current board by years, if not decades. 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. 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. 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.. 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. Wildwood, FL 34785. 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. If Option B is selected, the redesign will be the Associations responsibility. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. How do timeshares fit into the funding picture? Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. Continental Country Club - Flagstaff Golf Homes - Our Complete . Get Adobe Acrobat Reader free to view these files. 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. 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. continental country club hoa fees. By 2026, the annual dues increase will be $189. Starting in 2024, associate members would owe an additional $63 for 2024, 2025, and 2026. The Continental CC course can host up to 144 golfers at a time with a shot gun start. 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 Tripadvisor Rockport Maine2 mi$$ - $$$ American Seafood Grill Were voting for a smaller cost now ($2,000 to cover the $2.5M), to protect ourselves from possible larger costs later, unending litigation and the $15 million claim of the LFOs that could not be addressed any other way outside of bankruptcy, to protect our amenities and eradicate Lake Elaine issues. Our members will be voting to approve this fee which will be necessary for the reorganization plan to move forward. junio 12, 2022. jonah bobo 2005 . Buying a new home in the Continental area? 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. 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! You can cancel at any time. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! The . Email notifications are only sent once a day, and only if there are new matching items. Flyer Link. Why are there currently some members paying different assessment rates? This included signage, team captain materials and t-shirts. Continental Country Club home prices vary from luxury homes to more affordable homes that might be perfect for first-time buyers. At Continental, you are more than a member; you are part of the family. The Board approved a two-tier membership now known as Associate and Full Membership to account for the difference in assessment levels. The first payment would be due the same day as the due date for the special assessment. The Continental Country Club course is filled with par 3s and par 5s, offers beautiful mountain views and a friendly, neighborhood environment. Ensure continued use of our club amenities and environment. Homeowners have a duty to pay their annual dues and this holds true even while in a Chapter 11 reorganization. If I haven't yet paid my annual dues, will they still have to be paid? 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.
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