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Home My WebLink About20132142August 8, 2013 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 TEBO PARTNERSHIP LLLP PO BOX T BOULDER, CO 80306 RE: THE BOARD OF EQUALIZATION 2013, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R6916998 Dear Petitioner: On August 01, 2013, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq., considered your request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2013. The Board of Equalization found that the evidence presented at the hearing supported the stipulated value placed upon the above -described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $5,405,782.00 $3,650,000.00 The above `Stipulated Value' is the value which will be used in the calculation of your property taxes for 2013. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Very truly yours, Esther E. Gesick, Deputy Clerk Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor ec,cPC ?k 2013-2142 AS0085 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R6916998 STIPULATION (As To Tax Year_2013_ Actual Value) RE PETITION OF : NAME: TEBO PARTNERSHIP LLLP ADDRESS: 2950 Colorful Av Longmont, CO Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2013 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: Ll BLK1 CONCEPTS DIRECT #1 2. The subject property is classified as Commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2013: Total $5,405,782.00 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2013 actual value for the subject property: Total $3,650,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2013. 6. Brief narrative as to why the reduction was made: Review of condition indicated value reduction. 7. Both parties agree that: ®The hearing scheduled before the Board of Equalization on 8/2/2013 at 11:00 AM be vacated. ❑A hearing has not yet been scheduled before the Board of Equalization. R6916998 2013-2142 Petitioner(s) or Agent or Attorney Address: 3t). -?-)0), T nuk ev•, CO R03©i.p St )9 Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone: 303-441-2321, T .hone:(970) 336-7235 Docket Number n/a Stip-1.Frm R6916998 County As ' - or Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 2 NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 ACCOUNT NO. R6916998 w PROPERTY O Date of Notice: 6/27/2013 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM TAX YEAR 2013 TEBO PARTNERSHIP LLLP PO BOX T BOULDER, CO 80306 TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION PROPERTY CLASSIFICATION INDUSTRIAL COMMERCIAL 3213 LOG 1CD1-1 L1 BLK1 CONCEPTS DIRECT#1 2950 COLORFUL AV LONGMONT, CO 000000000 ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW TOTAL 2,166,014 3,239,768 ACTUAL VALUE AFTER REVIEW 2,166,014 3,239,768 $5,405,782 $5,405,782 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CMO6 - The assessor's staff has requested information which is pertinent and critical to proper evaluation of your property's value. Because we have not received this information, we have no choice but to deny any adjustments. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. REED JUL 12213 WELD COUNTY COMMISSIONERS 15 -OPT -AR PR 2.07-08/13 R6916998 18193 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 1400 N 17 AVE. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.qov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2012? (Your opinion of value in terms of a specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ '3, 4`C), (Th.10 What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) •—pA _AAN a,L . TQA _ tl eo-nt> over 1��`h ATTESTATION I, the undersi argent"" of the property identified above, affirm that the statements contained herein and on a ft?i s hereto are true and complete. Sv3-441- 7S32,C0 Signature e s\e-Vcei,'� Email Telephone Number Dat 2153 Attach letter of authorization signed by property owner. Address 15-DPT-AR PR 207-08/13 R6916998 18193 500 Egg muE 004 et 44( 22 cv \}04 ! fag 0- ma 0a tki ! gE 0 aZo gla i/ \\| t a Vu 64 zz 0000 ONOW 59 VI aN mmo mr sou NNO Eg CZZ NrrO CI row )§)\ 6-6 en Ew ono tea MOOM GEEg 4005 0 SOW as 44.0 449 ada 22 0g8 Ng. z2E -Ea ESSg 00 SEgg ee 00 mo MO 0 NN o6 mo o /! /! rw )/)} >ocm >Eas !\ First American Tide Company, LLC 1826 N Loop 1604 W, Suite 125 • San Antonio, TX 78248 Final Settlement Statement Property: Rocky Industrial, 2950 Colorful Avenue, Longmont, File No: NCS-556551-SNANT CO 86351 Officer: James D. Cardenas/0c New Loan No: Settlement Date: 11/29/2012 Disbursement Date: 11/29/2012 Print Date: 11/29/2012,11:44 AM Buyer: Tebo Partnership LLLP Address: Rocky Industrial, 2950 Colorful Avenue, Longmont, CO 86351 Seller: CSFB 2002-CKS4 Longmont Industrial, LLC Address: c/o LNR Partners, LLC, 1601 Washington Avenue, Suite 700, Miami, FL 33139 Buyer Charge j Buyer Credit Charge Description Seller Charge I Seller Credit 3,300,000.00 Consideration: W inning Bid Amount 3,300,000.00 —�--321,500.00 25,000 00 42,500.00 128,703.11 3,334.65 Deposits in Escrow: Receipt No. 11895896 on 10/25/2012 by DOA TEBO DEVELOPMENT Receipt No. 11895940 on 10/30/2012 by ULTRA ESCROW INC.Maio Buyer Adjustments: Security Deposit Prorations: 11/28/12 2012 Real Estate Taxes 01/01/12 to @$141457.47/yr Rental Income 11/29/12 to11/30/12 @$50019 81/mo Commission: Commission Paid at Settlement to Cassidy Turley Fuller Real Estate 42,500 00 128,703.11 3,334.65 107,250.00 1,000 00 775.00 3,423 00 21.00 346.50 Attorney: Attorney Fee to Bilzin Swnberg Baena Price Axelrod_ Costs to Bilzin Sumberg Bae a Price Axelrod Title/Escrow Charges to: ._nxes Closing -Escrow Fee to First American Title Compaq, LLC _ Search and Exam/Update/Tax Ceti to First American Title Com�,LLC Policy -Standard ALTA 2006 Owners to First American Title Company, LLC Record Grant Deed to First American Title Company, LLC Documentary Transfer Tax -State to First American Title Company, LLC 4500.00 500.00 H 165,000.00 2,949,527.74 Disbursements Paid: Buyer's Premium (5% of Winning Bid) to Aucnon corn Commercial, LLC nal rperaei tg cvp rises to R99 \ nt F2,0„k; 1(,.! 10,000 00 Cash (X From) ( To) Borrower Cash (X To) ( From) Seller 3,003,212.24 3,470,565 50 3,470,565.50 Totals 3,300,000.00 3,300,000.00 Initials: Page 1 cr2 Condoned From Page r Final Settlement Statement Settlement Date: 11/29/2012 File No: NCS-556551-SNANT Print Date: 11/29/2012 BUYER(S): a SELLER(S): Tebo Partnership liability limited partne By:Stephen D. Tebo, General Partner Officer. James D. Cardenasldc limited CSFB 2002-CKS4 Longmont Industrial, LLC, a Colorado limited liability company By. LNR Partners, LLC, a Florida limited liability company, successor by statutory conversion to LNR Partners, Inc., a Florida corporation, its manager By:Rodolfo S. Lauredo, Vice President Page 2 of 2 Continued From Pete I Final Settlement Statement Settlement Date: 11/29/2012 File No: NCS-556551-SNANP Print Date: 11/28/2012 Officer: James D. Cardenas/jdc BUYER(S): SELLER(S): Tebo Partnership LLLP, a Colorado limited liability limited partnership By:Stephen D. Tebo, General Partner CSFB 2002-CKS4 Longmont Industrial, LLC, a Colorado limited liability company By: LNR Partners, LLC, a Florida limited liability company, successor by statutory conversion to LNR Partners, I n;, a Florida corporation, its mana�" By:Rodolfo S. Lauredo, Vice President Page 2 of 2 July 22, 2013 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 TEBO PARTNERSHIP LLLP PO BOX T BOULDER, CO 80306 Account No.: R6916998 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 02, 2013, at or about the hour of 11:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2013, and mailed to you on or before August 12, 2013. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0085 TEBO PARTNERSHIP LLLP - R6916998 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor AS0085 Hello