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Indeed, in a letter to HOA members, Held said the organization also has a $600,000 balloon payment on a loan taken out in 2011 for the installation of a new irrigation system. This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues, Held said. The original clubhouse was built in 1960. The Villages, FL 32162 Directions. 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 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. They say Lake Elaine can be fixed, and that Continental can afford it but is using bankruptcy to shirk legal obligations established in 1990, suggesting that the Lake Elaine issue is being used to distract from a bigger issue: decades of financial mismanagement. The costs are too much of a burden for members on a fixed income? What is the process required to divest the HOA of Lake Elaine? Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. 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. Continental Country Club has 2,395 owners. 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. The benefits are endless and your experiences will last a lifetime. 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . A member may cease paying in protest, but the trustee will ultimately have the same rights CCC currently has to enforce and compel payment ultimately filing a lien on the property and foreclosing. However, the CC&Rs needed to be combined with the assessments at the amounts approved by each individual subdivision at that time. 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 community dates back to 1975 and has continued to develop over the years. 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. If we convert to Chapter 7, the HOA cannot be sued by Lake Elaine property owners or any other entity. Is it possible to leave the HOA so we're not part of it? Continental Country Club Home and Lot Sales, Long-Term & Seasonal Rentals Are Currently Handled By: Click on the Link Below to See the Available Homes For Sale www.FourStarHomes.com Click this Link for Rental Homes. In some cases, these problems predate the current board by years, if not decades. to fines, and Continental Country Club HOA reserves the right to require restoration of the property to its prior condition. 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. They are down to earth, fun-loving people that enjoy spending time together laughing over great food and refreshing drinks. Round Table Discussions will be held on every, We will also be having Town Hall Meetings for everyone who is interested in attending. Why did the Board decide to take this step now? Continental Country Club is a neighborhood in Wildwood, Florida. continental country club hoa fees. So, we either pay the known $2.5 million now, or pay more later up to the $15 million? HOA Legal Name: CONTINENTAL COUNTRY CLUB, INC. Reserve funds are used for large projects such as replacements or repairs within the homeowners association. This included signage, team captain materials and t-shirts. 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. Why dont we just sell the golf course to eliminate the large expense of deferred and ongoing maintenance? A filing for Bankruptcy can take many forms, including a Chapter 11 Reorganization. You can cancel at any time. The criteria is based on the HOA community rules and regulations, bylaws and accountability. The fee had been set to begin at the start of February, but due to the bankruptcy, it has been put on hold. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. An automatic stay is a provision in the bankruptcy law that temporarily prevents creditors, collections agencies, government entities, and individuals from pursuing Continental for amounts owed. 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. 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. Court reservations required. A 2019 report from engineering firm Terracon evaluated that the lower lake elevation would have relative stability. The same report concluded, however, that any plan should include the eventual replacement of the liner below this elevation., Outlined in their amended disclosure statement, Continental has included a small lake option in its plan to emerge from bankruptcy, but with one caveat: the club no longer want to be responsible for maintaining the lake. However, even if we cant use amenities, were still required to pay annual lot assessment fees even when unable to use amenities. Flyer Link. After the October 30th preliminary ruling, the board studied and reviewed all possibilities, along with speaking with several professionals and our attorneys. 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. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? Are you looking for a great restaurant? Will there be a special assessment to help cover some of the debts? How does the Chapter 11 filing affect me as a Continental Country Club Member? 2380 N Oakmont Dr President - The president of the Board presides at all meetings of the Board of Directors. At the beginning of the Chapter 11 process, we explained that values may be negatively affected. https://continentalflagstaff.com/motion-to-reject-1990-agreement-granted/. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. This includes CC&Rs enforcement on the property, common area maintenance, amenities access and social activities. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. The Trustee is charged with maximizing distributions to creditors. Bliss said the HOA also has lots of deferred maintenance fees, while also having some of the lowest member fees in the state. Can we just abandon the property? 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? For the good of our residents and those who enjoy our facilities, it was time to take action.. This would include 4-5 ponds, walking trails, benches, limited parking and would be open to, With either option, and assuming successful confirmation of our reorganization plan by the bankruptcy court, we have no ongoing legal obligation to continue any litigation from lakefront homeowners. 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. On this point, the Legionnaires agree. 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. Continental received $1500 in donations for marketing materials for the campaign. You can cancel at any time. 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" 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. The money for the signs was donated. That resulted in two levels. Continental County Club has filed for Chapter 11 bankruptcy protection, but daily operations wont change.