Held says the bankruptcy wont close the golf course or force any layoffs and daily operations will go on as normal. 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. Payment $4,996 Price/Sq.Ft. In a Chapter 7 does the trustee manage the HOA? The CC&Rs govern 1,210 single family homes. In 2017, residents came back and asked the court to hold the HOA in contempt for not following through on its mandate to keep the lake full. Some of that is the result of limitations on the Associations revenues and on its ability to raise dues or impose special assessments. 219 4. In a Chapter 7 does the HOA remain in place? But the residents involved in the class action suit believe repairing the lake isn't nearly that expensive. Quick Facts Getting Around Continental Country Club Continental Country Club Learn more about this neighborhood. Bronson Creek feeds into a wetland on the east side of the park; a paved trail provides access to the wetland. The restrictions contained in a declaration are covenants that run with the land and cannot be terminated by the owner. Associate Members have the option to upgrade on an annual basis to full members, although full members do not have the option to become associate members. The truth is that the Association has simply failed to perform any real repair or maintenance of the Lake for 27 years now. The aforementioned 2019 Terracon report does indicate that there are viable solutions to refill Lake Elaine including short-term use of the existing liner or a more long-term geomembrane liner but does not shy from saying that the porous limestone and geologic conditions in the area are problematic for a lake or reservoir. It goes on to say that it can certainly be argued that this site was a poor choice for a lake or water feature of any significant size., Another 2019 engineering report from Natural Channel Designs reached similar conclusions, saying the geologic and environmental setting of the lake presents significant challenges to its continued existence. Raising dues and increasing assessments is an important step to funding the reserves, Cohen's statement said. Back then, the increase had to be approved in each single-family subdivision. Continental Golf Course Is CLOSED for the Season! 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. 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.. Log in, Continental Country Club HOA in Flagstaff, AZ, Forest Highlands Golf Club HOA in Flagstaff, AZ, Railroad Springs Townhomes HOA in Flagstaff, AZ. What happens if 2 YES (APPROVE) for Special Assessment and Annual Dues Increase? Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. The Class has been very willing to work with the Association to negotiate an equitable solution that would allow for a temporary repair of the Lake as part of a holistic approach to address the Associations broad financial challenges. Are you looking for a great restaurant? Then, you've come to the right place. . How will this affect the value of my home? In 2020 Continental knew it had some big expenses coming up, and the study was designed to help it figure out how to keep money in the bank. 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. They don't want to claim for damages. 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. If we had hired a professional HOA management team a few years ago, could we have avoided all this? If Option B is selected, the redesign will be the Associations responsibility. What happens if we vote NO (DO NOT APPROVE) or dont meet the quorum requirement after two tries? Continental Country Club Resorts, Wildwood Real Estate & Homes for Sale 13 Homes Sort by Relevant Listings Brokered by Four Star Home Brokers, Inc. For Sale $180,000 2 bed 2 bath 1,056 sqft 6,711. Why didnt the Board give us a warning that this was going to happen? It bolstered the property values of homes located on the waterfront and was a gorgeous sight to see. 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 The question is why. The money for the signs was donated. Is there a Special Assessment Payment Plan? 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. For every four gallons of water that is pumped into the lake each day, three gallons are lost to seepage into the ground. ", The issue is further complicated by the fact that Continental and the Legionnaires cant seem to agree on how much it would cost to repair and maintain even a small lake option. 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. application fee details: $55 app fee online at our website bishoprealtygrp. They pay the full membership dues and receive the same benefits. 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. 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. (link to message). 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. Sean Golightly reports on the environment and the city of Flagstaff. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! Will there be a special assessment to help cover some of the debts? This community dates back to 1975 and has continued to develop over the years. 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. By 2026, the annual dues increase will be $291. We are located on St Rte 44 just 2.5 miles east of Brownwood The Social Membership allows you access to all the Club's amenities and provides the opportunity to take part in our extensive calendar of social events, Whether you plan to use Flagstaff as your home base or your vacation get-away you will not regret calling this home! Why did the Board decide to take this step now? Then starting in 2024, full members would owe an additional $97 for 2024, 2025 and 2026. The reason for the increases are due to ongoing financial concerns involving Lake Elaine, a $600-thousand balloon payment due regarding irrigation of the golf course and ongoing deferred maintenance to some of the amenities. An HOA faces bankruptcy because of its man-made lake. Continental Country Club - 78 Spaces is an apartment community located in San Diego County and the 91911 ZIP Code. I dont golf. The Continental Country Club course is filled with par 3s and par 5s, offers beautiful mountain views and a friendly, neighborhood environment. If the Assessment and dues increase fails, and the HOA converts to Chapter 7, will the Lake Elaine lawsuit continue? 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. 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. Log in, Continental Country Club HOA Chula Vista, CA, Alicante at San Miguel Ranch HOA Chula Vista, CA. continental country club hoa fees. 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. Two yeses mean $2.5M goes to either Option 1 or 2 as determined by creditors. The special assessment can be paid over two years with eight (8) quarterly payments of $261 (which includes 5% interest). Copyright 2023 Continental Country Club FL All Rights Reserved. Dues increases and/or special assessment would have been necessary even if a professional management company was involved. Reorganization comes after decades of the Association kicking the can down the road. 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. 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.. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). Why are there currently some members paying different assessment rates? 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. . 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. No true repairs have been made to the Lake since 1994. Continental Country Club. https://continentalflagstaff.com/fee-schedule-to-support-the-reorganization-plan/. Flagstaff City Championship Flyer Will all country club members be allowed on the new redeveloped lake? 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. Continental Country Club HOA is a community located in Flagstaff, AZ (Coconino County). *Country Club Homeowners: This amount is for quarterly dues only and is separate from mandatory social membership dues. That fee would drop to $500 if the HOA begins refilling the lake, and continue until it is full. 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. The availability of these amenities, whether used or not, makes CCC a desirable neighborhood and increases property values. 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. When were the clubhouse and clubhouse pool built? 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 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! He recalled clear statements in meeting minutes from Continentals board of directors meeting that the reserves were significantly inadequate back in 2014., There was no follow-through, and the reserves are still woefully inadequate, Nilsson said. 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. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Continental Country Club's HOA files for Chapter 11 bankruptcy Adrian Skabelund Feb 17, 2021 Updated Mar 24, 2021 0 Cracked limestone makes up the karst geologic formation beneath a worn-out. Ensure continued use of our club amenities and environment. Once that happens, and at the approval of the homeowners, selling the golf course is something that can be discussed. If I haven't yet paid my annual dues, will they still have to be paid? In a media release, the HOA board seemed to attribute most of their problems to recent legal action over Lake Elaine, a man-made lake within the country club that has been the center of controversy for years. If we pay the $2.5M now, were done forever, other than ongoing maintenance of the small ponds, according to Judge Ballinger. But some lakefront residents on the other side of the legal battle have a different perspective. 50 Continental Blvd. The Continental Country Club constructed Lake Elaine back in the 1970s. How does the Chapter 11 filing affect me as a Continental Country Club Member? 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. Zillow has 3 homes for sale in 34785 matching Continental Country Club. (renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax). The Court also imposed on CCC a $700/day fine until water began flowing into the lake at which point the fine would be reduced to $500/day until the lake was filled. Homeowners have a duty to pay their annual dues and this holds true even while in a Chapter 11 reorganization. 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. To him, the results of this 2020 study were disturbing.. Background: How did we get in this situation regarding Lake Elaine and the Bankruptcy? HOA Legal Name: CONTINENTAL COUNTRY CLUB R.O., INC. We have the receipts. 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. There are many types of townhomes available from $300,000 - $500,000. Reserve your next round of golf with our quick and convenient online booking engine. View Properties for Sale at Continental Country Club located in Wildwood, FL. This included signage, team captain materials and t-shirts. But for Continental to do any of this, theyll need money, and they dont deny that they need money for more than just Lake Elaine. For these reasons, they continue to urge Continental residents to vote to approve the specially assessment payment of $2,000 and the 20% increase on annual dues, suggesting its the financially responsible thing to do. The Court further concluded that failure to plan did not equate to an inability to comply., While the Legionnaires do not deny Continentals precarious financial situation, they dont think it inhibits or excuses them from upholding legal obligations surrounding Lake Elaine. Continental Country Club mostly features cozy homes that are very reasonably priced. 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. Is it possible to leave the HOA so we're not part of it? It was approved in some subdivisions, but not in others, as some subdivisions expressed strong discontent with increasing the assessment because they did not see value in the use of amenities. We do think that if we are unsuccessful in approving the fees necessary to support the reorganization plan, there will likely be a negative effect on property values with the reduced or possible loss of amenities currently enjoyed by HOA members including golf course or driving range, tennis or pickleball courts, swimming pool, clubhouse and Bear Paw Recreation Center. Do all members of the HOA get to vote for the new HOA Dues and Special Assessment? Get Adobe Acrobat Reader free to view these files. But, in the 1990s, disaster struck. The HOA fees in this community is about $265 to $320 a month, depending on location (golf course and waterfront lots are available) and includes lawn care and trash pick-up. 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. A future owner of your home may find golf or the other amenities appealing. How do timeshares fit into the funding picture? Full members will pay $550 annually, Associate members will pay $365 annually, Likely negative impact on property values, $15 Million Lake Elaine dispute unresolved, unknown outcome of the Lake land. 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. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. If you choose to deed restrict with CCC HOA, the Annual Dues for the current year will be waived! This includes CC&Rs enforcement on the property, common area maintenance, amenities access and social activities. 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. Why are there currently some members paying different assessment rates? Staffed with talented and devoted professionals, Continental Country Club is among the area's best-rated public courses. Here, golfers find a quiet and peaceful round of golf at what feels like a destination club. 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 From AU$247 per night on Tripadvisor: Starlight Lodge at Rockport Harbor, Rockport. Continental Country Club HOA is a community located in Chula Vista, CA (San Diego County). Give Us A Call: 1-888-452-6595. 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. 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. The reorganization plan imposes a one-time special assessment of $2,000. President - The president of the Board presides at all meetings of the Board of Directors. A big vote is underway at Continental Country Club in East Flagstaff. This anomaly resulted in 1994. Joining the Continental Country Club HOA is the easiest way to protect your propertys value! Will there be an increase to my annual assessment? But Bliss also took issue with the HOAs suggestion that the issue over Lake Elaine was the primary cause of the bankruptcy. Are our property assessments used for this? 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. The community is gated, includes 24/7 security and even allows pets. Now, the HOA faces bankruptcy if it can't come up with $2.5 million. Thank you to everyone who came out and play, we are looking forward to some exciting changes in-store for next year. The funds usually have strict criteria for how they are to be used. 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. Helly Hansen Active Winter sulejope UUS! CCC also had a balloon payment due in October, for $600,000. Unfortunately, this was the only possible conclusion, and once decided, needed to be acted upon quickly. However, a Chapter 7 panel trustee would be appointed and all decisions regarding the operations of the HOA will be made by the Trustee. If APPROVED and Option A is selected, then the property will be deeded to the Lake Elaine owners. Flagstaff, AZ 86004, Call Continental Country Club at (928) 526-5125, on our EZLinks tee times page in a new tab. Were empathetic to those on fixed incomes, and offer payment plans to ease burdens. This option would release the Association from, Option #2 would be to spend that $2.5 million and create the new amenity. 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. He is a big sweetheart but a little too rough for my Pygmy Goats. Bliss said the HOA also has lots of deferred maintenance fees, while also having some of the lowest member fees in the state. 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. That resulted in two levels. 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. 3. When were the clubhouse and clubhouse pool built? Great Circle Media serves Flagstaff, Prescott, Sedona, and the surrounding areas with Northern Arizonas Best Radio Stations! Even more, we do all the work of the Deed Restriction for you! 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. Trees are falling in Flagstaff and have been compromised as a result of recent winter storms. What is the process required to divest the HOA of Lake Elaine? Reach him at sgolightly@azdailysun.com, on Twitter at @sean_golightly, or on Instagram at @golightly_writes. The Lakeside homeowners want Continental to thrive as a strong community and healthy Association. Fee: Continental Country Club HOA or Social Membership fee required. Below you can find information for the homeowners association including HOA fee includes, community features and amenities. These homeowners are known as Associate members. Can a trustee remove the restrictions on the use of the golf course to sell it for maximum value? In a statement to the Arizona Daily Sun, Continental attorney Scott Cohen said, While Continental certainly has obligations other than the Lakefront Group, such as addressing its appropriate capital reserves to ensure proper maintenance of its amenities and common areas, this was not the primary cause for the bankruptcy filing.. Subscribe to our Daily Headlines newsletter. HOA Fee Includes Register for our eClub to receive regular offers and updates from Continental CC! 2380 N. Oakmont Drive, Flagstaff, AZ 86004 (928) 526-5125 www.continentalflagstaff.com . {{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. Continental Country Club Flagstaff, AZ 86004 Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. The Board had to consider how it could meet the obligations and fill the lake to a level that, according to experts, has never been sustainable. That would be within the discretion of the trustee. They want the lake fixed, Bliss said. I just see that as being poorly managed, Penoff said. The work and fines until the lake was filled amounted to a lot of money that our Association does not have. The costs are too much of a burden for members on a fixed income? Beginning 2024, we have three small increases to annual dues of $97 which resolves deferred maintenance and creates appropriate reserves/plan for maintaining building/grounds. In November, the chain announced the first CFC would be built in Monroe, OH, near its home base of Cincinnati. Chapter 11 Reorganization | FAQ | Communication with Members | Court Motions & Hearings | Media Announcements. Membership in Continental is a result of home ownership. Contact ClubCorp for social membership dues questions: 623-742-6200 Download homeowners online payment guide. 2380 N Oakmont Dr Continental Country Club Who are the members of CCC? 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. Situated below Mount Elden in Flagstaff, AZ, the 18-hole championship golf course at Continental Country Club was designed by Bob E. Baldock. Lease Details & Fees Details Property Information 78 units/1 story Location 445 Orange Ave , Chula Vista , CA 91911 Get Directions This Property Available Property At the time of the study, Continentals reserve balance was $54,291. Even more, we do all the work of the Deed Restriction for you! That's not what any of our folks want. We face possible conversion to Chapter 7 Bankruptcy and liquidation of all our assets reduced or possible loss of club amenities such as tennis, pickleball, pool, golf and clubhouse. Beyond the potential Lake Elaine obligations, we have a 50-year-old building, and numerous amenities. First used to store water for the golf course, Lake Elaine is now only aesthetic, but has been leaking water for decades. When will we know about the timing and amount of any assessments that will be needed? Ballots go out June 28th, and need to be mailed or returned in-person, Owners who do not return an absentee ballot will be allowed to vote in person at July 30th special meeting, We must reach 60% of quorum (or participation of homeowners in the vote), 2/3 of those voting must vote yes on BOTH ballots for it to be approved, Results announced in special meeting of the members on Saturday, July 30th.
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