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Home My WebLink About20112132 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX BOX 758 GREELEY, COLORADO 80632 C. COLORADO August 3, 2011 720 UNIVERSITY LLC 1801 OAKLAND BLVD STE 310 WALNUT CREEK, CA 94596 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY:ACCOUNT#: R2296303 PARCEL#: 096117327001 -GR SB L1 SUBURBAN EXC BEG SW COR N0D33'W 297.04'N89D27'E 50'TO POB N0D33'W 70'N89D27'E 175' S0D33'E 70' S89D27'W 175' TO POB ALSO EXC BEG N0D33'W 117.7' & N89D27'E 50' FROM SW COR OF SEC 17 N0D33'W 175' N89D27'E 200' S0D33'E 200.08'M/L N83D24'W 201.5 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 $11,221,079 $11,221,079 {Li,, AcT /e//er) .9- 3 -o?O// 2011-2132 AS0079 720 UNIVERSITY LLC - R2296303 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, onl 1 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 2011-2132 AS0079 720 UNIVERSITY LLC - R2296303 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 DUFF & PHELPS 950 17 STREET SUITE 2000 DENVER, CO 80202 2011-2132 AS0079 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 SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2296303 2011 0600 GR SB L1 SUBURBAN EXC BEG SW COR N0D33'W 297.04' N89D27'E 50' TO POB cc N0D33'W 70' N89D27'E 175' S0D33'E 70' i 720 UNIVERSITY LLC S89D27'W 175' TO POB ALSO EXC BEG 1801 OAKLAND BLVD STE 310 N0D33'W 117.7' & N89D27'E 50' FROM SW WALNUT CREEK,CA 94596 COR OF SEC 17 N0D33'W 175' N89D27'E CC 200' S0D33'E 200.08' M/L N83D24'W 201.5 o. 2626 11 AV, GREELEY cc ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 11,221.079 11,221,079 TOTAL $11,221,079 $11,221,079 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: CM05 - The law requires that all of 2009 and the first 6 months of 2010 data be used to establish current values.We have considered all(3) three approaches to value in arriving at your current valuation. We have denied your appeal based upon this data. 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. DUFF & PHELPS 950 17 STREET SUITE 2000 : DENVER CO 80202 • , - o?o//- X2/32 • 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.cov/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 pro erty pursuant to § 39-8-106(1.5), C.R.S.) $ '0CO, Ooo 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.) ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachments hereto are true and complete. lee, Va4Dermuft44 3a3-175-54'7/ A/2-9/11 Signature Dk(( ; Pke.4pc Telephone Number Date ' Attach letter of authorization signed by property owner. DUFF&PHELPS Weld County Board of Equalization July 14, 2011 915 10th Street, PO Box 758 Greeley, CO 80632 Dear Honorable Board, On behalf of our client 720 University LLC, Duff & Phelps hereby appeals the 2011 Notices of Determination for the following parcels: Assessor's Petitioner's Schedule Address 2011 Value 2011 Value R2296303 2626 11th Avenue $11,221,079 $9,000,000 R2296603 2716 11th Avenue $479,339 $300,000 The Notices of Determination and our authorization are also attached. In general, the market for retail property has suffered. Reduced spending by consumers has resulted in lower retail sales volume. Thus, retail tenants are unable to pay rent and expenses and have been granted concessions to keep retail spaces occupied. These factors have resulted in lower property values as of June 30, 2010. This notice of appeal is being sent via certified mail with tracking number 7010 3090 0002 7515 1292 If you have any questions please contact me at michael.vandonselaarAduffandphelps.com or 303-749-9034. Respectfully, Michael Van Donselaar Vice President— Property Tax Advisory Duff&Phelps.LLC r +1 303 749 9034 Michael.vandonselaar©duflandphelps.coal 950 17th Street F +1 303 749 9010 www.duflandpheips.com Suite 2000 Denver.CO 80202 Property Tax Consultant-Agency Agreement Owner Address: 1801 Oakland Blvd. Suite 310 Walnut Creek, CA 94596 Property Address/Legal Description/Schedule#:2626-2726 11'°Avenue/09-61-173-27-001, -002,-003, -004 Consultant/Agent: Duff& Phelps I/We, 720 University, LLC subsidiaries, parent companies and all affiliated companies agree with Duff& Phelps that for the property tax assessment years 2011 and 2012, in Colorado as the property referred to above,that Duff& Phelps 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 and 2012. Please direct all correspondence and refunds to Duff& Phelps. The undersigned further authorizes Duff&Phelps 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 24th day of May 2011. Agreed: By: \±7 4/1/;7O/7 Title: (etier TE OF ..5/2O7 The oing instrument was acknowledged before me} This of Please Direct all correspondence/refunds to: By: Duff& Phelps 950 17'"Street, Suite 2000 Witness my hand and offici eat. Denver,Colorado 80202 my commission expires: Notary Public Notary Signature / `KC et 77/tCf2.e CI CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT ccorxrz crx-c s s�ae�z aenzr �.azr.�r zotraec rcersce crtcx-e rcr coeecrkxu� xt State of California County of L 071 in SC //_ } / / # On !7•--y c?&f ab// before me, . 4/e�rliy ;Peal, /VO tty 7&O/c , // Date 6 �� //i,C/_ Here Insert Name nd Trite of the Office personally appeared �/JAdl . A/ rArt[l Name(s) a R READ ' who proved to me on the basis of satisfactory evidence to { , c stturf s fes 2 be the personal whose name is/0e subscribed to the .a... , Notarypa c•ICsfYonh within instrument and acknowledged to me that \1.,,) ConlnCopeCoady he/Vie,/Sy executed the same in his r/t it authorized MY Comm EmYnJun23r2U1S capacitye ,, and that b his/Aim/SA-6r signature$on the -'"' "' `'""_I4 _-- - instrument the person p ( or the entity upon behalf of which the person$t acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official/fi seal. Signature t(,/ /2U /�f4/4d� Place Notary Seal Above Signature of Notary Public OPTIONAL Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document Description of Attached Document 72- Title or Type of Document:7/eoprin y /� � 7&�` nc 4y ree�A/ -/c1 Document Date: . fC,aI - Number of Pages: / 7 Signer(s)Other Than Named Above: ____.__ Capacity(ies) Claimed by a Wr(Signner(s)[ Signer's Name: ...—/OAR aL'O(AY Signer's Name: _ J Individual L. Individual Corporate Officer—Title(s): 'J Corporate Officer—Title(s): Partner—L Limited J General RIGHT J_ Partner—J Limited T General •IGNT TNurd- •INr ., Attorney in Fact OF SIGNER L Attorney in Fact •FSIGNE- Top of thumb here Top of thumb Dore Trustee L,Trustee ardian or Conservator 1,Guardian or Conservator Other: lid C Other: Signer Is Representin Signer Is Representing: 7520 lufida•fo j LLC 52007 Netbnal Notary Assoclallon•9350 De Soto Ave.. PO Boa 2402*Chatsworth.CA 91313.2402•www.NallonalNotaryorg Item x5907 Reorder:Call Toll-Free l-boo-87e6029 i ? CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 �1 P. O. BOX 758 GREELEY, COLORADO 80632 C. COLORADO August 3, 2011 720 UNIVERSITY LLC 1801 OAKLAND BLVD STE 310 WALNUT CREEK, CA 94596 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R2296603 PARCEL#: 096117327004- GR SB PT L1 SUBURBAN BEG N0D33'W 117.7'& N89D27'E 50' FROM SW COR OF SEC 17 N0D33'W 175' N89D27'E 200' S0D33'E 200.08' M/L N83D24'W 201.5' TO POB 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 $479,339 $479,339 2011-2132 AS0079 720 UNIVERSITY LLC - R2296603 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 2011-2132 AS0079 720 UNIVERSITY LLC - R2296603 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 arbitrators 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, QQ Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor DUFF & PHELPS 950 17 STREET SUITE 2000 DENVER, CO 80202 2011-2132 AS0079 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 SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2296603 2011 0600 GR SB PT LI SUBURBAN BEG N0D33'W 117.7' & N89D27'E 50' FROM SW COR OF cc SEC 17 NOD33'W 175 N89D27'E 200' Ill 720 UNIVERSITY LLC S0D33'E 200.08' M/L N83D24'W 201.5 TO 3 1801 OAKLAND BLVD STE 310 POB >. WALNUT CREEK,CA 94596 2716 11 AV,GREELEY cc O cc ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 479,339 479,339 TOTAL $479,339 $479,339 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: CM05 - The law requires that all of 2009 and the first 6 months of 2010 data be used to establish current values.We have considered all(3) three approaches to value in arriving at your current valuation. We have denied your appeal based upon this data. 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. - - DUFF & PHELPS , 950 17 STREET SUITE 2000 -- DENVER CO 80202 00/1-a/3& 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.gov/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 r party ursuant to § 39-8-106(1.5), C.R.S.) 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.) ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachments hereto are true and complete. 'm, 614 -Pritoefban 303-17S-54"7( 6/fl/f1 Signature Durr phefry Telephone Number Date ' Attach letter of authorization signed by property owner. DUFF&PHELPS Weld County Board of Equalization July 14, 2011 915 10th Street, PO Box 758 Greeley, CO 80632 Dear Honorable Board, On behalf of our client 720 University LLC, Duff& Phelps hereby appeals the 2011 Notices of Determination for the following parcels: Assessor's Petitioner's Schedule Address 2011 Value 2011 Value R2296303 2626 11th Avenue $11,221,079 $9,000,000 R2296603 2716 11th Avenue $479,339 $300,000 The Notices of Determination and our authorization are also attached. In general, the market for retail property has suffered. Reduced spending by consumers has resulted in lower retail sales volume. Thus, retail tenants are unable to pay rent and expenses and have been granted concessions to keep retail spaces occupied. These factors have resulted in lower property values as of June 30, 2010. This notice of appeal is being sent via certified mail with tracking number 7010 3090 0002 7515 1292 If you have any questions please contact me at michael.vandonselaar(Wduffandphelps.com or 303-749-9034. Respectfully, mia ,„L_ Michael Van Donselaar Vice President— Property Tax Advisory Duff&Phelps.LLC r +1 303 749 9034 Michael vandonselaareduffendphelps corn 950 17th Street I +1 303 749 9010 w.ww duffandphelps corn Suite 2000 Denver,CO 80202 • Property Tax Consultant-Agency Agreement Owner Address: 1801 Oakland Blvd. Suite 310 Walnut Creek, CA 94596 Property Address/Legal Description/Schedule#:2626-2726 11 a'Avenue/09-61-173-27-001, -002, -003, -004 ConsultantAgent: Duff& Phelps I/We, 720 University, LLC subsidiaries, parent companies and all affiliated companies agree with Duff& Phelps that for the property tax assessment years 2011 and 2012, in Colorado as the property referred to above, that Duff& Phelps 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 and 2012. Please direct all correspondence and refunds to Duff& Phelps. The undersigned further authorizes Duff& Phelps 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 24th day of May 2011. Agreed By: (7 eig ilfry_ Title: GLLil.°ir TE OF .572O( The oing instrument was acknowledged before me} This of Please Direct all correspondence/refunds to: By: Duff& Phelps 950 17t'Street, Suite 2000 Witness my hand and offici eal. Denver, Colorado 80202 my commission expires: Notary Public Notary Signature `mac a 1ACC{1_a c>' • CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT c•cerzr, ssrr-sr,F u a r6.ccs.acrseoaraec .c;rre eceerseeas,,ts ccz crztecer zca State of California ! //// //-- 1 County of 61031 . GCOa�Ta- /— 1 /Pear/ / �j On /7, a6/ `�// before me, /V ern* /V elnNamea�a Tnleo'mao40e/ 7 /C , / Date 6 �� // /- personally appeared __. �/oAh • Wit leridin'_ Name(S)of Si Isi B RdID' E who proved to me on the basis of satisfactory evidence to IWENDY f m: Caissllos•1161212 L be the person whose namebt),is/0i subscribed to the `,..Y , r Notary Public_California i within instrument and acknowledged to me that rl'n/ Cahn Costa County he/X/txey executed the same in his44r/tta6ir authorized W Comm.rnsso Jun 23,2013 capacity and that b his)1er SaEr signature on the - ""' ` -- -`-- -- � instrument the person O or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature !y//� Place Notary Seal Above Signature of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document Description of Attached Document /.�,/ �� " ,/�/� Title or Type of Document: _?1e Iin L'�-`-��'�'L� 'en c ) � o / Document Date: J/olfe,/ / Number of Pages:✓ / Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: JOAN 6 " Signer's Name: Individual I Individual Corporate Officer—Title(s): .J Corporate Officer—Title(s): Partner Limited L General IGHTTHUM- INT Partner 1 Limited General •IGHrTHUM- •INT •F Attorney in Fact • ASIGNE _ Attorney in Fact •F SIGNE Top of thumb here Top of thumb hero Trustee L Trustee ardian or Conservator !.Guardian or Conservator Other Maw L Other: Signer Is Representing: Signer Is Representing: 7)1 le-HIJaSj/j l.-G • st,75=vectx • 02007 National Notary Association•9350 De Soto Ave PO.Boa 2402•Chatsworlh CA 91313.2602•www.Nal,onalNotaryorg Item#5907 ReordehCall Toll-Free 1-900876.6627 Donna Bechler From: Courtney Anaya Sent: Monday, July 25, 2011 11:25 AM To: Esther Gesick Cc: Donna Bechler Subject: FW: University Square - 720 University LLC Hi Esther, I'm forwarding this email from 720 University requesting Admin Denial. Is this sufficient? Thanks, Courtney From: Charles Jack Sent: Monday, July 25, 2011 10:26 AM To: Courtney Anaya Subject: FW: University Square - 720 University LLC Hi Courtney, This is an e-mail from the agent Michael Van Donselaar of Duff& Phelps asking for an administrative denial on 720 University LLC R 2296303, R2296503, and R2296603. Will this be enough for the Board? Thanks Dolt 11U� Charles C. Jack Commercial Appraiser Weld County Assessor's Office 1400 N. 17th Avenue, Greeley, Co Phone: 970-353-3845 Ext.3676 I 1011 W ELO-''COJ NIT Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Van Donselaar, Michael Jmailto:Michael.VanDonselaar@duffandphelos.coml Sent: Monday, July 25, 2011 9:55 AM To: Charles Jack Subject: University Square - 720 University LLC Hello Chuck, 2011-2132 1 As we discussed, 720 University LLC requests an administrative denial be granted for the 2011 appeals filed to the Weld County Board of Equalization. Please let me know if you need anything further. Thanks, Mike Michael S.Van Donselaar Vice President—Property Tax Advisory T +1 303 749 9034 M +1 303 875 5471 F +1 720 279 7860 Duff& Phelps 950 17`h Street, Suite 2000 Denver, CO 80202 michael.vandonselaar@duffandphelos.com www.duffandphelps.com This email is confidential and subject to important disclaimers and conditions, including those regarding confidentiality, legal privilege and certain legal entity disclaimers, available at http://www.duffandphelps.com/disclosure. Circular 230 Disclosure: Any advice contained in this email (including any attachments unless expressly stated otherwise) is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. 2 Hello