Special Assessment Pass, Yearly HOA Fee Increase & VRBOs are now Allowed

 

SPECIAL ASSESMENT & ANNUAL HOA FEE INCREASE

Continental Country Club homeowners has approved a special assessment and annual dues increase. See the vote results here. 

 

Why is this good news to Continental Country Club homeowners?

This means Lake Elaine will be open for all residents to enjoy, providing yet another valuable amenity to homeowners and, therefore, increasing home values.”

The Continental Country Club Board homeowners has approved a special assessment to fund both the association’s emergence from Chapter 11 bankruptcy, and to repurpose the former Lake Elaine into a multi-use space consisting of ponds and trails.

The $2,000 per homeowner assessment would provide the necessary funds to avoid Chapter 7 which would require liquidation of all association assets including the golf course, tennis and pickleball courts, pools, Bear Paw Activity Center and the Main Clubhouse.

The increase in annual dues in the amount of $97 per year will offset inflation costs, while still keeping dues well below comparable communities.

 

The Lake Elaine Story

The Continental Country Club was forced to file for Chapter 11 bankruptcy in 2021 after a lengthy court battle over the viability and sustainability of Lake Elaine. Only 52 of the 2,395 CCC homeowners have had access to the lake which, for decades, has consistently leaked and required tens of thousands of dollars in repair and maintenance expenses from the Continental Country Club fund, which is designed to benefit all members, not just a small group.

The proposed bankruptcy settlement includes two options for the land, both of which will cost $2.5 million. “The property is currently owned by the Association.

  • Option #1 would be to deed the land to the 52 owners and pay them $2.5 million to repair and maintain the lake in perpetuity. This option would release the Association from all current and ongoing liability. It would become privately owned property.
  • Option #2 would be to spend that $2.5 million and create the new amenity which would be open to all homeowners. This would include 4-5 ponds, walking trails and benches,” continued Murray.

Option #2 Passes

“No other neighborhood in Northern Arizona would have a space like this available to all of its residents and we are excited that this could be a really positive outcome at the end of a very long, challenging journey.”

 

VRBOs are Allowed in Continental Country Club

Court motions and hearings:

Motion for JMT on Pleadings

Defs Response to MJOP

Reply in Support of its MJOP

Order Granting in part MJOP