continental country club hoa fees

The . 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. 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. We are located on St Rte 44 just 2.5 miles east of Brownwood But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. Are the fines associated with the October 2020 preliminary ruling being assessed currently? 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. Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. 219 4. Learn More on our tournaments page. This one-acre park, opened in 2013, includes a playground with a swing set and a picnic table. Subscribe to our Daily Headlines newsletter. 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. Continental Country Club Powered by GolfNow.com Book a Tee Time Satellite Layout Tees Track Rounds Scorecard Course Details Year Built 1972 Golf Season Year round Architect Ron Garl (1972) Rentals/Services Carts Yes - included in green fees Clubs Yes Practice/Instruction Driving Range Yes Golf School Academy Yes - "Stephen Wresh Golf Academy" The Board approved a two-tier membership now known as Associate and Full Membership to account for the difference in assessment levels. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. If we had hired a professional HOA management team a few years ago, could we have avoided all this? 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! How does the Chapter 11 filing affect me as a Continental Country Club Member? Without an additional court order, the Trustee steps into the Debtors shoes and inherits any and all land restrictions, encumbrances, etc. Back then, the increase had to be approved in each single-family subdivision. We will keep our facilities open and our employees will be working to ensure business as usual. {{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, Flagstaff schools planning to make up instructional time after this winter's snow days, Investigation underway after body found near Sunset Crater National Monument, 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, continentalflagstaff.com/the-voting-process-on-the-two-fees/, City of Flagstaff Year in Review: Housing, transportation key considerations as city develops, 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, Greece train crash: Public anger grows as death toll rises. 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. Is it possible to leave the HOA so we're not part of it? Lake Elaine is not the reason for Continental Country Club's bankruptcy, it was only one of the straws to fall after years of what, in my opinion, is gross mismanagement.. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. Will there be an increase to my annual assessment? Elden Thursday, Jeronimo Vasquez Named District 2 Supervisor, 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. Payment $4,996 Price/Sq.Ft. A Chapter 11 Reorganization allows us to create a plan of reorganization (a new business plan) and show the court how CCC plans to effectuate the plan. The Class also estimates this temporary solution could be completed quickly in months, not years. Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! The CC&Rs govern 1,210 single family homes. I just see that as being poorly managed, Penoff said. These homeowners - the "Class" - believe that the Association has options to address its financial challenges. Is there money set aside for the management of the HOA & enforcement of CC&Rs? The issues we are dealing with today began 30 years ago and the current board wasnt a part of. Are you looking for a great 55+ retirement community? Get Adobe Acrobat Reader free to view these files. 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 has been much misinformation about the history of Lake Elaine and the ability to maintain lakes in this area. Joining the Continental Country Club HOA is the easiest way to protect your property's value! The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. Flagstaff, Feb. 12, 2021 - Continental Country Club is a great place to live and provides many amenities for the broader community. This included signage, team captain materials and t-shirts. Instead it has chosen to walk away from its obligations through bankruptcy reorganization, creating a stigma impacting more than 2,500 Association members. 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. Continental owns and maintains the Walnut Canyon Lakes, and the Associations own experts have testified that Lake Elaine can be repaired. Schedule: No open play during the off-season (Nov-Apr). Email notifications are only sent once a day, and only if there are new matching items. 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%. 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. 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. But some lakefront residents on the other side of the legal battle have a different perspective. They don't want to claim for damages. The required work would require Engineers, Contractors, and time. 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. With some of the lowest homeowner fees in the state less than $46 a month along with a golf course, driving range, clubhouse and other amenities the Association has the ability to generate greater revenues to pay for its obligations and update aging facilities. They stick to the claim that maintaining the lake in the manner outlined in 1990 is no longer physically possible, economically feasible or ecologically sound., While the court concluded that it was possible to maintain the lake, and that Continental had a responsibility to do so, the engineering reports that informed the decision paint a more complex picture. Copyright 2023 Continental Country Club FL All Rights Reserved. Professional management associations still report to a board of directors which makes final decisions. 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. We have compensated by charging usage fees and not giving golf discounts to those who do not pay the full amount. That resulted in two levels. There are many unknowns associated with a conversion to Chapter 7. HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. By 2026, the annual dues increase will be $291. Helly Hansen Active Winter sulejope UUS! Staffed with talented and devoted professionals, Continental Country Club is among the area's best-rated public courses. 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. Home to one of the best-rated public golf courses in Flagstaff, AZ. Reorganization comes after decades of the Association kicking the can down the road. 3. Fee: Continental Country Club HOA or Social Membership fee required. Continental Golf Course Is CLOSED for the Season! 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. There are constant ongoing repairs and improvements required for these assets that must be addressed. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. (link to message). 150 Saab tingida. These homeowners the Class believe that the Association has options to address its financial challenges. Zillow has 3 homes for sale in 34785 matching Continental Country Club. 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. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. In some cases, these problems predate the current board by years, if not decades. Each year, members may elect a new board or move to a professional management association. This discount allows members & guests to enjoy the lowest rates offered on our rack card. Why are there currently some members paying different assessment rates? We have the receipts. Continental Country Clubs HOA files for Chapter 11 bankruptcy. For more information contact Continental Country Club Guest Services at . Example turn the golf course into single-family homes. A reserve study is not something to be taken lightly, said lakefront resident Dan Penoff, who has nearly 30 years of experience on homeowners association boards outside of Continental. Held says the work would take time and millions of dollars. The Continental Country Club course is filled with par 3s and par 5s, offers beautiful mountain views and a friendly, neighborhood environment.

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