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Home My WebLink About20112136 Oil Stevens & Associates RSpecialists in: Property Tax Reductions Utility Bill Auditing n? ee.. ,2: I,0 Dear County Board: Please find enclosed our 2011 Real Property tax Appeals requested information. Enclosed you will find the following: • 2009-2010 Income & Expense statements Colorado National Golf Club LLC 1745 Colorado 7 Hwy Weld: R1388502 This information has been submitted satisfying the requirements within the senates bill 11-119. Sincerely, Todd J. Stevens President Stevens &Associates Cost Reduction Specialists, Inc. 9800 Mt. Pyramid Court, Suite 220, Englewood, Colorado 80112 or 'ry VJv� 1303) 347-1878 •fns (303) 347-9242 �O�/ �/3 r rnv. 11 as- ll CC CA, nSfL psoo79 Vista Ridge Catering, LLC Pg 3 Income Statement - December, 2010 This Year Month to Date REVENUE Food & Beverage Sales 39, 603 560, 062 Cigar Sales 0 3 , 214 Liquor Sales 8, 002 108, 205 Wine Sales 3 , 795 53 , 555 Beer Sales 5, 093 206, 020 Other Income 3 , 104 37, 590 TOTAL REVENUE 59, 598 968 , 647 COST OF SALES Food & Beverage Cost of Sales 16, 789 249, 820 Cigar Cost of Sales 0 2 , 921 Liquor Cost of Sales 2 , 117 26 , 763 Wine Cost of Sales 1, 182 17, 594 Beer Cost of Sales 1, 883 57, 207 TOTAL COST OF SALES 21, 971 354, 306 TOTAL GROSS PROFIT 37, 627 614, 341 OPERATING EXPENSE PAYROLL & BENEFITS Payroll & Benefits 20, 838 299, 687 TOTAL P/R & BENEFITS 20, 838 299, 687 Utilities 0 200 Leases & Rentals 185 6 , 845 Repair & Maintenance 305 10, 815 Fees 876 17, 924 Supplies 1, 767 38 , 306 Marketing & Promotion 49 1, 354 Travel & Entertainment 2 , 275 6, 271 General & Administrative (39) 12 , 003 Insurance 407 5, 784 Rent Expense 18, 500 228, 326 TOTAL OPERATING EXPENSE 45, 163 627, 515 Vista Ridge Catering, LLC Pg 4 Income Statement - December, 2010 This Year Month to Date TOTAL EBITDA (7, 536) (13 , 174) OTHER INCOME/EXPENSE Non-Recurring 1 1, 019 TOTAL OTHER INC/EXP 1 1, 019 DEPR/AMORT EXPENSE Depreciation Expense 72 496 TOTAL DEPR/AMORT EXPENSE 72 496 TOTAL EBT (7, 608) (14 , 689) TOTAL NET INCOME/ (LOSS) (7, 608) (14, 689) Colorado National Golf Club Pg 3 Income Statement - December, 2009 This This Mth Year YTD Month Budget To Date Budget REVENUE Member Dues 24,991 38,000 494,395 470,000 Initiation Fees 0 0 18,550 7,000 Green Fees 2,451 2,500 813,275 846,500 Cart Fees 1,575 1,500 394,815 403,100 Range Fees 3,962 3,900 115,275 125,500 Instruction (388) 0 11,944 12,900 Merchandise Sales 13,446 13,500 177,748 182,335 Food Sales 0 0 0 0 Alcoholic Beverage Sales 0 0 0 0 Other Non-Golf Income 13,471 23,500 176,351 184,500 Other Income 12,185 0 36,390 28,400 TOTAL REVENUE 71,692 82,900 2,238,743 2,260,235 COST OF SALES Mdse Cost of Sales 8,126 7,830 102,865 105,753 F&B Cost of Sales 0 0 0 0 TOTAL COST OF SALES 8,126 7,830 102,865 105,753 TOTAL GROSS PROFIT 63,566 75,070 2,135,878 2,154,482 OPERATING EXPENSE PAYROLL & BENEFITS Payroll & Benefits 34,703 35,243 626,555 692,029 TOTAL P/R & BENEFITS 34,703 35,243 626,555 692,029 Utilities 18,549 17,196 188,564 219,631 Leases & Rentals 204 205 218,221 230,766 Repair & Maintenance 5,999 1,000 115,155 77,240 Soil, Seed & Fertlizer 0 0 71,043 46,250 Fees 4,038 1,427 96,581 46,426 Supplies 1,647 665 78,546 60,980 Marketing & Promotion 588 0 51,672 46,000 Travel & Entertainment 40 0 1,523 300 General & Administrative 3,076 2,220 93,195 68,168 Colorado National Golf Club Pg 4 Income Statement - December, 2009 This This Mth Year YTD Month Budget To Date Budget Insurance 2,951 2,880 44,022 42,644 Property Tax 12,581 1,750 186,041 206,000 TOTAL OPERATING EXP 84,375 62,586 1,771,117 1,736,434 TOTAL EBITDA (20,809) 12,484 364,762 418,048 OTHER INCOME/EXPENSE Non-Recurring (877) 0 (7,308) 0 Interest Inc/Exp 23,750 23,000 342,728 276,000 TOTAL OTHER INC/EXP 22,873 23,000 335,421 276,000 TOTAL EBTDA (43,682) (10,516) 29,341 142,048 DEPR/AMORT EXP Depreciation Expense 34,299 31,000 406,102 372,000 TOTAL DEPR/AMORT EXP 34,299 31,000 406,102 372,000 TOTAL EST (77,981) (41,516) (376,761) (229,952) TOTAL NET INCOME/(LOSS) (77,981) (41,516) (376,761) (229,952) Colorado National Golf Club Pg 3 Income Statement - December, 2010 This This Mth Year YTD Month Budget To Date Budget REVENUE Member Dues 38,975 38,000 494,224 470,000 Initiation Fees 0 0 10,750 7,000 Green Fees 9,481 2,500 875,112 846,500 Cart Fees 6,140 1,500 368,817 403,100 Range Fees 4,380 3,900 116,670 125,500 Instruction (675) 0 12,149 12,900 Merchandise Sales 12,774 13,500 180,906 182,335 Other Non-Golf Income 18,521 23,500 235,687 184,500 Other Income 11,246 0 42,172 28,400 TOTAL REVENUE 100,842 82,900 2,336,487 2,260,235 COST OF SALES Mdse Cost of Sales 8,836 7,830 108,096 105,753 TOTAL COST OF SALES 8,836 7,830 108,096 105,753 TOTAL GROSS PROFIT 92,006 75,070 2,228,391 2,154,482 OPERATING EXPENSE PAYROLL & BENEFITS Payroll & Benefits 36,864 35,243 636,999 692,029 TOTAL P/R & BENEFITS 36,864 35,243 636,999 692,029 Utilities 13,563 17,196 166,968 219,631 Leases & Rentals 544 205 236,554 230,766 Repair & Maintenance 3,044 1,000 102,846 77,240 Soil, Seed & Fertlizer (780) 0 53,348 46,250 Fees 4,979 1,427 71,209 46,426 Supplies 1,576 665 84,706 60,980 Marketing & Promotion 34 0 49,478 46,000 Travel & Entertainment 47 0 322 300 General & Administrative 8,745 2,220 84,507 68,168 Insurance 438 2,880 42,778 42,644 Property Tax 13,559 1,750 187,617 206,000 TOTAL OPERATING EXP 82,612 62,586 1,717,332 1,736,434 Colorado National Golf Club Pg 4 Income Statement - December, 2010 This This Mth Year YTD Month Budget To Date Budget TOTAL EBITDA 9,394 12,484 511,059 418,048 OTHER INCOME/EXPENSE Non-Recurring (1) 0 1,179 0 Interest Inc/Exp 24,757 23,000 312,474 276,000 TOTAL OTHER INC/EXP 24,756 23,000 313,653 276,000 TOTAL EBTDA (15,362) (10,516) 197,406 142,048 DEPR/AMORT EXP Depreciation Expense 34,400 31,000 412,306 372,000 TOTAL DEPR/AMORT EXP 34,400 31,000 412,306 372,000 TOTAL EBT (49,762) (41,516) (214,900) (229,952) TOTAL NET INCOME/(LOSS) (49,762) (41,516) (214,900) (229,952) Vista Ridge Catering, LLC Pg 3 Income Statement - December, 2009 This Year Month to Date REVENUE Food & Beverage Sales 35, 943 514, 666 Cigar Sales 0 3 , 719 Liquor Sales 5, 358 98, 699 Wine Sales 4, 949 50, 222 Beer Sales 4 , 063 191, 704 Other Income 2 , 157 38 , 083 TOTAL REVENUE 52 , 470 897, 093 COST OF SALES Food & Beverage Cost of Sales 15, 008 243 , 171 Cigar Cost of Sales 0 2 , 600 Liquor Cost of Sales 1, 080 20, 660 Wine Cost of Sales 1, 549 19, 105 Beer Cost of Sales 1, 281 53 , 328 TOTAL COST OF SALES 18, 918 338 , 864 TOTAL GROSS PROFIT 33 , 552 558, 229 OPERATING EXPENSE PAYROLL & BENEFITS Payroll & Benefits 22 , 936 306, 379 TOTAL P/R & BENEFITS 22, 936 306, 379 Utilities 50 150 Leases & Rentals 133 7, 411 Repair & Maintenance 801 9, 197 Fees 1, 769 25, 025 Supplies 3 , 184 46, 911 Marketing & Promotion 1, 235 4, 183 Travel & Entertainment 1, 700 10, 783 General & Administrative 23 16 , 028 Insurance 386 9, 047 Rent Expense 13 , 500 162 , 000 TOTAL OPERATING EXPENSE 45, 717 597, 116 Vista Ridge Catering, LLC Pg 4 Income Statement - December, 2009 This Year Month to Date TOTAL EBITDA (12, 165) (38 , 887) OTHER INCOME/EXPENSE Non-Recurring (300) 1, 614 TOTAL OTHER INC/EXP (300) 1, 614 DEPR/AMORT EXPENSE Depreciation Expense 25 178 TOTAL DEPR/AMORT EXPENSE 25 178 TOTAL EBT (11, 890) (40, 679) TOTAL NET INCOME/ (LOSS) (11, 890) (40 , 679) 0© Stevens & Associates R © Specialists in:Property Tax Reductions Utility Bill Auditing August 24, 2011 Weld County Board of Equalization 915 10th Street Greeley, CO 80631 Dear County Board: Please find enclosed our 2011 Real Property Tax Appeals that have been sent to the BAA for the following properties. Mile High Banks Colorado National Golf Club LLC 3050 67 Ave 1745 Colorado 7 Hwy Erie Schedule/ID#: 095921255009 Schedule/ID#: RI388502/146732402052 Mile High Banks 7133 13 CR Market Square LLC Schedule/ ID#: 131325425002 3820 W 10th Street Schedule/ID#: R4952308 3840 W 10th Street Schedule/ID#: R0034492 If you should have any questions regarding these appeals, please feel free to call our office. Thank you for your assistance with this matter. Sincerely, .r.-ezrbtfill -- Todd J. Stevens President Enc/mss et: CA, /95R it-34 '!/ Stevens &Associates Cost Reduction Specialists, Inc. Cei '1X>11 , 0 9800 Mt. Pyramid Court, Suite 220, Englewood, Colorado 80112 O2O1/- 02/3 Lr $-ag -1 1 (303) 347-1878 •fax(303) 347-9242 A5 O0 -h For Office Use Only PETITION TO STATE BOARD OF ASSESSMENT APPEALS 1313 Sherman Street, Room 315 Phone: (303)866-5880 Docket No. Denver, Colorado 80203 Fax: (303) 866-4485 Fee: Y N `l Check/Credit Card# Date: Augustk ,2011 P F H Colorado National Golf Club LLC Property Owner: Subject Property: 1745 Colorado 7 Hwy Street Address City Schedule Number(s): R1388502/ 146732402052 Attach separate sheet if necessary X Board of Equalization Appeals the decision of the Weld ❑ Board of Commissioners Dated: August 3, 2011 County ❑ State Property Tax Administrator This Appeal concerns: X Valuation ❑ Refund/Abatement ❑ Exemption ❑ State Assessed Tax Year: 2011 The subject property is currently classified as: ❑Agricultural X Commercial ❑ Exempt ❑ Industrial ❑ Mixed Use ❑ Natural Resources ❑Oil & Gas ❑ Personal ❑ Possessory ❑ Producing ❑ Residential ❑ State Assessed Vacant Land Interest Mines $6,550,000 $2,700,000 Actual Value assigned to subject property: Petitioner's estimate of value: Estimated time for Petitioner to present the appeal: minutes or 2.0 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: ❑ Petitioner will be present at the hearing ❑ Petitioner will appear by telephone X Petitioner will be represented by an agent Petitioner is responsible for calling the Board at 303-866-5880 Petitioner will be represented by an attorney on the scheduled date and time of hearing(Mountain Time Zone) Except as provided in §13-1-127 (2) and (2.5) C.R.S. 2000, a corporation must appear under the representation of a licensed attorney. See BOP Industries v. State Board of Equalization, 694 P.2d 337 (Cob. App. 1984). Filing Fee: None Petitioner is appearing pro se(self-represented) and has not filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). ❑ $ 33.75 Petitioner is appearing pro se (self-represented)and has filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). X $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property The assessor did not properly consider the Cost, Market and Income approaches To value or aspects of the property in question. Zol I —Z i 3L A-Sco-7 9 Required attachments to this form: X Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial • X Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator Attachments required under certain circumstances: X A notarized Letter of Authorization if an agent will be representing Petitioner A list of names, last known addresses and telephone numbers of co-owners or parties directly interested in the subject property if applicable. Certificate of Service I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to: X Board of Equalization Weld ❑ Board of Commissioners county ri State Property Tax Administrator at the following address:' 915 10th Street. PO Box 758. Greeley CO 80632 on August% , 2011 Date // I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to all co-owners or parties directly interested in the subject property on Date I hereby certify that four (4) true and correct copies of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed or hand delivered to the Board of Assessment Appeals at 1313 Sherman Street, Room 315, Denver, CO 80203 on Auguste. 2011 Date (One copy may be faxed to the Board but the original and two additional copies must be mailed or hand delivered.) Petitioner's Mailing Address is Re " : d Even if Petitioner is Represented by An Agent or Attorney (per C.R.S. 39-8-109 Si nature of Agent Y or Attorney_ Signature of Petitioner Todd J. Steven Colorado National Golf Club LLC Printed Name Printed Name 9800 Mt Pyramid Ct. Suite 220 2700 Vista Parkway Mailing Address Mailing Address Englewood. CO 80112 Erie, CO 80516 City, State, Zip Code City, State, Zip Code Telephone:(11111147-1 87R Telephone: Daytime number E-Mail: todd@stevensandassoc.com E-Mail: Attorney Reg. No.: It is the Petitioner's responsibility to notify the BAA of any change of address. Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or may be requested by phone at 303-866-5880. Property Tax Consultant•Agency Agreement Owner Address:2700 Vista Parkway,Erie,CO 80516 Property Address/Legal Description/Schedule#:See Attached exhibit A Consultant/Agent:Stevens&Associates Cost Reduction Specialists;Inc. I/We Colorado National Golf Club LLC,subsidiaries,parent companies and all affiliated companies agree with Stevens& Associates Cost Reduction Specialists,Inc.that for the property tax assessment years 2011,2012 and prior years,in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists,Inc.Is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2011,2012 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists,Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists,Inc.as agent of the undersigned,in the name of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersigned,any and all documents relating to an appeal of the said assessments,for the assessment years in question and prior years,before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. gin done and executed on this n p day of November 2010. Agreed: By: M chalk Title: (r STATE OF The going I nt acknowledged before me} This day of l Please Direct all correspondence/refunds to: By Mart Schalk Stevens&Associates/Inc. 9800 Mt Pyramid Ct,Suite 220 Wllness my hand and official seal. Englewood,Colorado 80112 my commission expires: f7v� Li) lQ I a 0 I a ( 1�1 Nom Pa f3lLtf�� J Holley Signature r SW* STATE(War .1 v comuisMON E) . Exhibit A Colorado National Golf Club LLC 1745 Colorado 7 Hwy Weld County Parcel/Account# 146732402062/R1388502 Colorado National Golf Club LW No Address Weld County Parcel/Account# 146732202054/R1388702 146732300042/R4841207 146733318005/R2550303 U'- fl-Antinv`Y;J (4/. P NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2011 Weld County Assessor Telephone: (970) 353-3845 or (720) 652-4255 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us www.co.weld.co.us Office Hours:8:00 AM - 5:00 PM SCIiED11LE/ACCOyNTflG. TAX YEAR 1,, TAX AREA . PNXSIG�kiLVW , R1388502 2011 3520 ERI VR TRACT 7A&7E3&8&9& 10A& 108 & 10C & 11 & 12& 13& 14A& 14B& 15&20 ¢. VISTA RIDGE ALSO PT VAC WCR 5 ADJ TO m. COLORADO NATIONAL GOLF CLUB LLC 1745 COLORADO 7 HWY, ERIE 3i 2700 VISTA PARKWAY ERIE,CO 80516 F aC a ESSO S'VALMT ONm ACTUAL VALUE PR10 T� " PRORERI.1l CLASSIFICATION` ,REVIFI ., AC1 k1AL 1LUE AFTER: •„ FiEVIE COMMERCIAL 6,550,000 6,550,000 TOTAL $6,550,000 $6,550,000 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: CM06 - 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 deadline for filing personal property appeals Is July 20. 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. STEVENS & ASSOCIATES 9800 MT PYRAMID COURT SUITE 220 ENGLEWOOD CO 80112 CLERK TO THE BOARD PHONE(970) 336-7215, Ext. 4226 (it FAX: ( O BOX 742 P. O. BOX 758 GREELEY, COLORADO 80632 via€. COLORADO August 3, 2011 COLORADO NATIONAL GOLF CLUB LLC 2700 VISTA PARKWAY ERIE, CO 80516 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R1388502 PARCEL#: 146732402052 - ERI VR TRACT 7A&7B&8&9& 10A& 10B& 10C& 11 & 12& 13& 14A& 14B& 158,20VISTARIDGE ALSO PT VAC WCR 5 ADJ TO Dear Petitioner: On July 29, 2011,the Board of County Commissioners of Weld County, Colorado, convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S.,et.seq., considered your request for an Administrative Denial of your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $6,550,000 $6,550,000 2011-2136 AS0079 COLORADO NATIONAL GOLF CLUB LLC - R1388502 Page 2 A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however, said appeal must be filed within 30 days of the denial: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's(CBOE's)decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and such appeals should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 NOTE: On or after August 10, 2011, any appeal of the valuation of rent- producing commercial real property to the Board of Assessment Appeals shall provide to the County Board of Equalization the following information within ninety (90) days after the appeal is filed. For two full years, including the base year for the relevant property tax year: (1) actual annual rental income (2) tenant reimbursements (3) itemized expenses (4) rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space Fees: A taxpayer representing himself is not charged for the first two appeals to the Board of Assessment Appeals; however, a taxpayer being represented by an agent or an attorney must submit a fee of$101.25 per appeal. OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 2011-2136 AS0079 COLORADO NATIONAL GOLF CLUB LLC - R1388502 Page 3 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator,the District Court of the county in which the property is located will make the selection. Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor STEVENS &ASSOCIATES 9800 MT PYRAMID COURT SUITE 220 ENGLEWOOD, CO 80112 2011-2136 AS0079 cii(tea CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 • COLORADO August 3, 2011 COLORADO NATIONAL GOLF CLUB LLC 2700 VISTA PARKWAY ERIE, CO 80516 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R1388502 PARCEL#: 146732402052 - ERI VR TRACT 7A&7B&8& 9 & 10A& 10B& 10C& 11 & 12 & 13& 14A& 14B& 15&20 VISTA RIDGE ALSO PT VAC WCR 5 ADJ TO Dear Petitioner On July 29, 2011,the Board of County Commissioners of Weld County, Colorado, convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered your request for an Administrative Denial of your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $6,550,000 $6,550,000 /acc7a/fer) 2011-2136 AS0079 COLORADO NATIONAL GOLF CLUB LLC - R1388502 Page 2 A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however, said appeal must be filed within 30 days of the denial: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's (CBOE's)decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and such appeals should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 NOTE: On or after August 10, 2011, any appeal of the valuation of rent- producing commercial real property to the Board of Assessment Appeals shall provide to the County Board of Equalization the following information within ninety (90) days after the appeal is filed. For two full years, including the base year for the relevant property tax year: (1) actual annual rental income (2) tenant reimbursements (3) itemized expenses (4) rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space Fees: A taxpayer representing himself is not charged for the first two appeals to the Board of Assessment Appeals; however, a taxpayer being represented by an agent or an attorney must submit a fee of$101.25 per appeal. OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 2011-2136 AS0079 COLORADO NATIONAL GOLF CLUB LLC - R1388502 Page 3 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located will make the selection. Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, D Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor STEVENS &ASSOCIATES 9800 MT PYRAMID COURT SUITE 220 ENGLEWOOD, CO 80112 2011-2136 AS0079 f.'r Inrn�,n nr)t iuX� .-ii, NOTICE OF DETERMINATION Christopher M. Woodruff ',,.{j y Date of Notice: 6/22/2011 Weld County Assessor I ` E(-', S Telephone: (970) 353-3845 or (720) 652-4255 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 is l „` 13 A jj: 13 E-mail: appeals@co.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM SCHEDULE ACCOUNT NO.`}1 ` T ' L E�1X AREA LEGAL DESCRIPTION/ s E t_ PHYSICAL LOCATION R1388502 2011 3520 ERI VR TRACT 7A&7B&8& 9 & 10A& 106 & 10C & 11 & 12 & 13 & 14A& 14B & 15&20 VISTA RIDGE ALSO PT VAC WCR 5 ADJ TO w COLORADO NATIONAL GOLF CLUB LLC 1745 COLORADO 7 HWY, ERIE 2700 VISTA PARKWAY ERIE,CO 80516 w O O a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 6,550,000 6,550,000 TOTAL $6,550,000 $6,550,000 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: CM06 - 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 deadline for filing personal property appeals is July 20. 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. STEVENS & ASSOCIATES 9800 MT PYRAMID COURT SUITE 220 ENGLEWOOD CO 80112 2011-2136 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10th Street, Greeley, CO 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 915 10th Street, P.O. Box 758 Greeley, CO 80632 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 and on or before July 20 for personal 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 9th Avenue and 9th Street Denver, CO 80203 P.O. Box C (303) 866-5880 Greeley, Colorado 80632 www.dola.colorado.00v/baa (970) 356-4000 Ext. 4520 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 30,2010? (Your opinion of value in terms of a specific dollar amount is required for real propert_y pursuant to gg9-8-11066((1.5), C.R.S.) g 5 & A Value 52,700,000 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.) The assessor did not properly consider the cost, markct and incomc approaches to value or aspects to the property in question ATTESTATION I, the undersigned owner or a ent1 of the property identified above, affirm that the statements contained herein and on any attach er re true and complete. Signature Telephone3O2&47-1878 Date 7-15-11 ' Attach letter of authorization signed by property owner. Property Tax Consultant-Agency Agreement Owner Address:2700 Vista Parkway,Erie,CO 80516 Property Address/Legal Description/Schedule#:See Attached exhibit A Consultant/Agent: Stevens&Associates Cost Reduction Specialists;Inc. IIWe Colorado National Golf Club LLC,subsidiaries,parent companies and all affiliated companies agree with Stevens& Associates Cost Reduction Specialists,Inc.that for the property tax assessment years 2011,2012 and prior years, in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2011,2012 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists, Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists, Inc.as agent of the undersigned,In the name of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersigned,any and all documents relating to an appeal of the said assessments,for the assessment years in question and prior years,before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. Thus done and executed on this day of November 2010. Agreed: By: /* ^ M chalk Title: rM STATE OF The repo:going in ument w s acknowledged before me} This & day of�K, lU Please Direct all correspondence/refunds to: By. Matt Schalk Stevens&Associates/Inc. 9800 Mt Pyramid Ct,Suite 220 Witness my hand and official seal. Englewood,Colorado 80112 my commission expires: OA a to I&O la Notify Pu k Notary gpuNro MONICA SHNa �)SY NOTARY Pt STATE OF COLONAt •Ay COMMISSION EMIRS OPl2t. Exhibit A Colorado National Golf Club LLC 1745 Colorado 7 Hwy Weld County Parcel/Account# 146732402052/R1388502 Colorado National Golf Club LLC No Address Weld County Parcel/Account# 146732202054/R1388702 146732300042/R4841207 146733318005/R2550303 ©© Stevens & Associates R © Specialists in:Property Tax Reductions Utility Bill Auditing May 2011 Weld County Board of Equalization 915 10th Street Greeley, CO 80631 Dear County Board: Please find enclosed our 2011 Real Property Tax Appeals for the following properties. We will take Administrative Denials on the following 2011 appeals: Mile High Banks " Colorado National Golf Club LLC 3050 67 Ave 1745 Colorado 7 Hwy Erie Schedule/ ID#: 095921255009 Schedule/ID#: R1388502 /146732402052 Mile High Banks 7133 13 CR Market Square LLC Schedule/ ID#: 131325425002 v 3820 W 10th Street Schedule/ID#: R4952308 \ 3840 W 10th Street Schedule/ID#: R0034492 If you should have any questions regarding these appeals, please feel free to call our office. Thank you for your assistance with this matter. Sincerely, �o� Todd J. Stevens President Enc/mss Stevens &Associates Cost Reduction Specialists,Inc. 9800 Mt. Pyramid Court, Suite 220, Englewood, Colorado 80112 (303) 347-1878•fax(303) 347-9242 W M C'] M Q U - , IC H _ / ^- N CCI h VL• OOOMNo L/•�N SWo-O fil.oo In - J2 C C J N D O co 1:1 O O tr Lso P'" _rel. 1deru7 ti -CGT"'n ^ - -- O N I�.' s ru v N Er s (0 1 minimmomm• r-N � COE O — r O U C�� U 'a r- i CO - o y 03 t0 �L o Q N O m a) co — ti ,E,. otS 3 °) O = Enr. °' ow Uo 0 �� to co Hello