Lakewood Village October 2021 Newsletter

CCC Bankruptcy Update

Continental Country Club Homeowner's Association (CCC), the master association governing ours and the surrounding community, entered into Chapter 11 bankruptcy in February.

“This filing allows Continental and its homeowners the chance for a fresh start so we can best address several issues,” said Jon Held, president of the CCC Board of Directors.

The problems underlying CCC's Chapter 11 reorganization case must be resolved through a bankruptcy reorganization. A disclosure statement and Reorganization Plan was filed on October 8. Members must vote to fund the plan.

The CCC Board will hold a town hall meeting to discuss specifics regarding options for special assessments and/or annual dues adjustments. This town hall meeting is currently scheduled for 9 a.m. on Saturday, Oct. 23 via Zoom.

CC&R Updates

A committee has been formed to address updates within our association governing documents. Mr. Steve Yates has been nominated by the Board to chair this committee. The committee will: 1) Ensure legal and compliance needs 2) Advise updates to use restrictions 3) Align across all governing documents

This work is already underway and the Board has contracted with legal counsel to assist in bringing these documents up to date. The Board is soliciting additional homeowner participation in this process. If interested, please contact Mr. Yates at (480) 747- 3508 or steve.yates@sytec-consulting.com

Current association documents are posted at: https://peaks-hoa.com/property/lakewood-village/

Watch your water bill this winter!

As our community ages, many of the "stop and waste" valves throughout the neighborhood have begun to fail. As these are part of the irrigation system, the HOA will repair them if you notice a leak or problem. Please contact Peaks HOA Management to request a repair.