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Home My WebLink About20111776.tiff BOARD OF ASSESSMENT APPEALS, STATE OF COLORADO A COURT USE ONLY A 1313 Sherman Street, Room 315 Denver, CO 80203 Petitioner: Schedule No. R5250708 VESTAS BLADES AMERICA, INC., v. Respondent: WELD COUNTY BOARD OF EQUALIZATION Name: Thomas E. Downey, Jr., #9686 Address: DOWNEY & ASSOCIATES, PC 383 Inverness Parkway, Suite 300 Englewood, Colorado 80112 Telephone Number: (303)813-1111 Fax Number: (303)813-1122 E-mail: tom@downeylawpc.com ENTRY OF APPEARANCE The undersigned hereby enters his appearance as counsel of record for the Petitioner, Vestas Blades America, Inc. DATED this-771 day of October, 2011. Respectfully submitted,:7142niorD 9 fril),,---- homas E. Downey, Jr. Attorney for Petitioner Uovnnw �U 'iov\ 1� 2 2 oI10 / 1 -- ( 77 U0.iS1 11- 1 1t II �1 tl A SUo 7 `I CERTIFICATE OF SERVICE— The undersigned hereby certifies that on this;c$X day of October, 2011, service of the foregoing ENTRY OF APPEARANCE was effected by placing a true and correct copy of the same in the United States Mail, postage prepaid, and addressed to the following: Mr. J. Michael Beery Board of Assessment Appeals State of Colorado 1313 Sherman Street, Room 315 Denver, CO 80203 Stephanie L. Arries Assistant Weld County Attorney Weld County Attorney's Office 1150 O Street P.O. Box 758 Greeley, CO 80632 Weld County Board of Equalization 915 10th Street Greeley, CO 80632 I , t_ /i 16220 N Scottsdale Road �an ,®/ ' Suite 650 Scottsdale,Arizona 85254 Innovative Solutions Main 602.955.1792 to Taxing Problems. . -- Fax 602.955.4892 — 13 CERTIFIED MAIL-71791000164911120303 ws N."an.`orn RETURN RECEIPT REQUESTED August 15, 2011 Board of Assessment Appeals COPY 1313 Sherman Street,Room 315 Denver, CO 80203 Re: Petition to State Board of Assessment Appeals Vestas Blades America, Inc., Parcel Schedule Nos: R5250708, R6778001,and R6778002 To Whom It May Concern: Enclosed are the petitions and supporting documents for the above-referenced taxpayer and accounts. Ryan is a non-attorney agent for Vestas Blades America, Inc. We understand that Board rules require a Colorado attorney to appear at the hearing; the taxpayer will be appropriately represented by an attorney licensed in Colorado. Thank you for your assistance in this matter. If you have any questions or need any additional information,please contact me at 602.955.1792. Respectfully, Helen Crown Manager HC/jjr COPIES SENT THIS 15TH DAY OF AUGUST 2011,TOGETHER WITH PETITIONS AND ACCOMPANYING DOCUMENTS,TO: Weld County Board of Equalization 915 10th Street, Greeley, CO 80632 Certified Mail,Return Receipt Requested#71791000164911120174 Weld County Assessor 1400 N 17th Ave, Greeley, CO 80631 Certified Mail, Return Receipt Requested#71791000164911120051 Mr. Matthew Stanek Vestas Blades America, Inc. 11140 Eastman Park Drive, Windsor,CO 80550 Certified Mail, Return Receipt Requested#71791000164911120198 26O- 1 -1 7 Cr 2<1I-( 7I7 CO MMWb Nit or._ C ZII l i7�- C,�9, ASk' g.. Q9 '// R I� � I 4 Qo79 PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office Use only 1313 Sherman Street, Room 315 Phone: (303) 866-5880 Denver, Colorado 80203 Fax: (303) 866-4485 Docket No. Fee: Y N Check/Credit Card# Date: August 15, 2011 Property Owner: Vestas Blades America, Inc. Subject Property: 11140 Eastman Park Dr. Windsor Street Address City Schedule Number(s): R5250708 Attach separate sheet if necessary 0 Board of Equalization Appeals the decision of the Weld ['Board of Commissioners Dated: July 27, 2011 County ❑State Property Tax Administrator This Appeal concerns: 2Valuation O Refund/Abatement 0 Exemption O State Assessed Tax Year: 2011 The subject property is currently classified as: ❑Agricultural Commercial flExempt 0Industrial I°Mixed Use ONatural Resources o Oil & Gas lD Personal flPossessory O Producing °Residential . 0 State Assessed ❑Vacant Land Interest Mines Actual Value assigned to subject property: $69,672,339 Petitioner's estimate of value: $40,000,000 Estimated time for Petitioner to present the appeal: minutes or 1.0 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 CPetitioner will appear by telephone ❑Petitioner will be represented by an agent Petitioner is responsible for calling the Board at 303-866-5880 0 Petitioner will be represented by an attorney on the scheduled date and time of hearing(Mountain Time Zone) D Petitioner would like to appear by video conference Petitioner must contact the Board at 303-866-5880 at least 20 days in advance of the scheduled hearing to confirm availability of video conference equipment If the property owner is an entity,it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed$10,000,exclusive of costs,interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127, C.R.S. A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed$10,000.A trust filing a petition after 12/31/2010 must be represented by an attorney and must pay a$101.25 filing fee. 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). 0 $ 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). $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 actual value assigned by the Weld County Board of Equalization exceeds the property's fair market value. The assessor's value fails to consider the property's limited market appeal, external obsolescence and actual market sales activity indicating a substantially lower value. Required attachments to this form: 0 Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial 0 Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator Attachments required under certain circumstances: 0 A notarized Letter of Authorization if an agent will be representing Petitioner 0 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: • Board of Equalization Weld ❑Board of Commissioners County 0 State Property Tax Administrator at the following address: 915 10th Street, Greeley, CO 80632 on August 15, 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 August 15, 2011 • 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 August 15, 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 Required Even if Petitioner is Represented by An Agent or Attorney (per C.R.S. 39-8-109) Signature of Agent® oft Att ey O Signature of Petitioner Mark LoRusso Vestas Blades America, Inc. Printed Name Printed Name 16220 N Scottsdale Road, Suite 650 11140 Eastman Park Drive Mailing Address Mailing Address Scottsdale, AZ 85254 Windsor, CO 80550 City, State, Zip Code City, State, Zip Code Telephone: 602.955.1792 Telephone: 303.655.5705 - Daytime number E-Mail: Mark.LoRusso@Ryan.com E-Mail: mastn@vestas.com 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. (v;t:\ CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX BOX 758 GREELEY, COLORADO 80632 COLORADO July 28, 2011 VESTAS BLADES AMERICA IN 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 RE: THE BOARD OF EQUALIZATION, 2011,WELD COUNTY, COLORADO-DENY, IN PART, PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R5250708 PARCEL #: 080725202001 - WIN 3GWIP L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG (GREAT WESTERN 5TH ANNEX) Dear Petitioner On July 27, 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 petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon your above described property as set below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages,figures and formulas dictated by law. The assessment and valuation is set as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $81,888,216 $69,672,339 IIPEgnCr AUG 0 12011 BY: 2011-1776 AS0079 VESTAS BLADES AMERIC, . .N - R5250708 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 hew 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 2011-1776 AS0079 VESTAS BLADES AMERI , . EN - R5250708 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 RYAN LLC STE 650 16220 N SCOTTSDALE RD SCOTTSDALE, AZ 85254 • 2011-1776 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 R5250708 2011 4010 WIN 3GWIP L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG (GREAT WESTERN 5TH ANNEX) VESTAS BLADES AMERICA IN 11140 EASTMAN PARK DR, WINDSOR 0 11140 EASTMAN PARK DR y WINDSOR,CO 80550-3397 cc W O 0 cc ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 81,888,216 81,888,216 TOTAL $81,868,216 $81,888,216 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. RONALD K MARTINDALE 16075 COLEMAN AVE FORT LUPTON CO 80621 'yF'S`, 31 rC44 1 ci- J 2,F '" ,+ * - s M1,1'„„: 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.govibaa (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. E. , :— gfeNTWE Fa•Stf 4Tf�N 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 property pursuant to§ 39-8-106(1.5), C.R.S.) $S0 Ocio DODOD 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, or inal installed cost, appraisal, etc.) VAR( � L 5C. �ti=. ial_- iio KL 2S,0(-70r4 9L-E RS El .SEE RT'IRC El / I, the undersign .e/ner gent of the property identified above, affirm that the statements contained herein and ny'attach nts hereto are true and complete. 002-9Ss- )�`3Z 7 y3/ E/ Signature, ''�' Telephone Number Date k 1 Attach letter of authorization signed by property owner. STA 1'EMENT OF AGENCY 'fiestas Blades America, Inch Hereby appoint Ryan, LW as agent for the purpose of filing real estate and personal property statements, renditions,returns and/or assessment appeals, applications or petitions for review of valuation with all cotmties, appraisal districts and/or Assessment Appeal Boards, Boards of Review, or Boards of Equalization, appearing on our behalf before said Boards, examining any records, and discussing with the appropriate governmental authority the assessment of the property located at the following address; All real property located in Weld County, Colorado,with principal addresses of: 1140 Eastman Park Drive,Windsor 1500 East Crown Prince Boulevard,Brighton This property bei v owned.by the undersigned incorporated in the State of Colorado. This agency shall remain in effect for the 2011 and 2012 assessment years. inieRCCA-, �NC Name of Taxpayer 41C- Signature M A r i H e lrl SSA AI K_ Title 5 z5- 2o i1 Date Subscribed and sworn to before zS me this day of `cut 70H— Notary Public $1f �t ,� Fi. ( / -gig►Rr'X1 44 State of (1/ r' R ; w, q?: '.� County of --rid • My commission expires /f —0/ , 20 !3 S • -es dry • 'Us1 � r s V esras Blades and Nauelles—Weld Couniy,Colorado July 13,2011 Page 1 ' CLERK TO THE BOARD mil PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 COLORADO July 28, 2011 VESTAS BLADES AMERICA IN 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 RE: THE BOARD OF EQUALIZATION, 2011,WELD COUNTY, COLORADO-DENY, IN PART, PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R5250708 PARCEL #: 080725202001 - WIN 3GWIP L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG (GREAT WESTERN 5TH ANNEX) Dear Petitioner: On July 27, 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 petition of appeal of the County Assessor's valuation of your property described above,for the year 2011. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon your above described property as set below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. The assessment and valuation is set as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $81,888,216 $69,672,339 Cc: ALT- (eA'er) lad-aO// 2011-1776 AS0079 VESTAS BLADES AMERICA IN - R5250708 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 2011-1776 AS0079 VESTAS BLADES AMERICA IN - R5250708 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 RYAN LLC STE 650 16220 N SCOTTSDALE RD SCOTTSDALE, AZ 85254 2011-1776 AS0079 Weld County CHRISTOPHER M.WOODRUFF COUNTY ASSESSOR BRENDA DONES,DEPUTY ASSESSOR VALUATION REPORT OF COMMERCIAL PROPERTY FOR Weld County Board of Equalization VESTAS BLADES AMERICA INC PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0807-25-2-02-001 1471-29-2-01-001 1471-29-2-01-002 Schedule Number: R5250708 R6778001 R6778002 Log Number: 5426 Date: 27 July 2011 Time: 4:30 PM Board: CBOE PREPARED BY WADE J.MELIES WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE Windsor Blades $69,672,339 Brighton Blades $89,336,207 Brighton Nacelle $64,858,615 Total: $223,867,161 CBOE_COMM_010991 Page SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Actual Value as of 1/1/11 based on an appraisal date of 6/30/10. Property Rights Appraised Unencumbered fee simple interest. Location 11140 Eastman Park Dr Windsor 1500 E Crown Prince Blvd, No. B &N Brighton Land Area 251 Acres or 10,930,936 Square Feet Property Type Commercial Wind Turbine Blades Manufacturing Wind Turbine Blades Manufacturing Wind Turbine Nacelle Manufacturing Year Built 2007 thru 2011 and continuing Quality Good Class Metal Frame Number of Stories 1 and 2 Improvement Sq. Ft. 1,184,762 Value Indications: Land $21,069,128 Cost Approach $223,867,161 Market Approach N/A Income Approach N/A Final Value $223,867,161 CBOE_COMM_01( Pa( The Windsor Blades Plant ir a• -CD , . , . 0.. , : , ,, ..: altM ` t" ' F 4 a OP. {1- 1.-." , . ; N .MIIE ill ( i'� 1— ' -,3_att.. 151 di • t , r ars . .:at 4 top.I e sir_ . it. 7. i — air- es. A: re 4 P $ Sir • • tI. a ' i rte_ I -,. i - . . r . 1. .J air_ __ H; 1, r --. I — — — � _a - -• w -- -- •�:.-�- - , S, - Aerial View from Google 340' a ; m rn 1 !Slade Finish .a •:- icCe 4 4' ‘ �' 411/ %4(2) 141 """ t en Cfite Rack ] ;tea +o-x+•a ' • L.-Na ng R. , frn. IS st i ,-, Stater .-1 First hp+N I V,164,0 O Sn-ud'oa 12114'3" 94' 81' -alai tar.a:1g01 T ,11 R• WWII - ' g e fr 239' r.. 330' cw 179' " Addition Phase 111 r Pre-Preq Phase IF 9* blade Shop PI 65509,2 sf 2928O.O Sf i . -'. 46' WH 46' WI-1 ,' - ' 1?7` ll ,lcw 159' - " 159' in . . 156' - i DJ 5 0 N. a 42 13 W14 „n? Shimoda Bldg Ph it c t =i """ 180' Nill 1s .v PI - - 31334.0 sf Root Joint Phase It 0 -+ _ '\ 33064.0 sf rt.:. ?a 2 8 :' 2'4 rr• tce .4 t02' I it) wn in Addition Ph 11I •, J " I Jr• Tanei IQ 13230.0 sf 204' 18D' Sketch by /7a Maras Sketch CBOE_COMM_010 Pag Windsor Blade Photos I - . a_ Fla 24%Ill b • 04.01,2008 01 !04;20xit IIIIIIII z LE ice• �` _ ( T +K14 - w s.„_ 010 , +: u4 • t i p r 1•66l � 1 ■II • it , 4.4000 1/2010 11114 ., ,1 �- II S a' :a-jrarl il CBOE_COMM_01C Pa( Windsor Blades General Description The Windsor Blades plant is located on the east side of Windsor on Eastman Park Drive in the Great Western Industrial Park. The plant is adjacent Owens Illinois Bottle and Hexcel Manufacturing. It is new Front Range Energy and Eastman Kodak. It is located on 72.76 acres entirely fenced and landscaped. There are a total of 5 buildings with a total of 403,704 square feet of gross building area. Construction began in 2007 and is still underway. The buildings are of good quality and of typical condition. The buildings were built specifically for the manufacturing of Wind Turbine Blades. These Special Purpose buildings are designed with some of the following characteristics; Heavy and Light Manufacturing, Industrial Office, Cafeteria, Service Garage, Equipment Shed, and Guard Shack. Building two, originally tF stand alone paint building is now attached to building one. Building one is the main manufacturing and office building; it was built in multiple phases and is considered 91% complete. This building was specifically built and being modified for the purpose of manufacturing wind turbine blades and contains approximately 360,000 square feet. As a result there at many features built into the building that significantly increase the cost to build. The following are just a few of these features; • Story height of 46 feet and clear span of 130 to 180 feet. Clears spans of these heights and lengths have a spreading effect on the footings. Therefore the footings must be tied together. • There are crane rail components built into the structural supports. Several portions of the buildin have multiple cranes. • Mixed occupancies include office, light and heavy manufacturing,and hazardous material use and storage. Building code requires several features that attribute to increased expense. o There must be separation walls between uses. Where there are hazardous materials involved the separation walls must have higher fire ratings. Example: two and three hour ratings rather than one hour. o Where the separation walls require higher fire ratings,the doors must a higher rating. Wit] some doors close automatically when there is a fire. o Areas with hazardous occupancies must have separate HVAC, electrical, and plumbing systems that are independent of the other occupancies. • The fire suppression system required for this type of facility is very extensive and precise. Fire code requires some of the following items; o There must be systems in place to contain 20 minutes of flow from the sprinkler system. o There must be isolation doors to keep fires from spreading from one section to another. COO E_COMM_O109 Page o For buildings this size automated smoke and heat vents in the roof are required. • Special flooring support for manufacturing equipment. An example of this is the trenches in the floor for the transport system in the automated paint building. The 2011 Notice of Value indicated the improvements cost value was $76,341,546. After further review, considering building one is considered 91% complete, and applying some physical depreciation a revises cost is presented. A summary of total costs are as follows, a detail cost profile maybe found in the addendum. Windsor Blades Plant Cost 403,704 square feet @ $158.84 per square foot = estimated cost $64,125,669 C80E_COMM_O11 Pal The Brighton Blades Plant - _ qr.,. . .., .. i-, , , ,-_11-. �� I. „ _ . .. 1 . 1 ;V; ) l'; 4 P.4 ) 41 , .. ! , i ; . .4).. . . .... c.--•t. I 0 i • 1 1►, ` • i �IJ r 1 _ - 7 1 , , , . .up . . . ., • ,..:.„ . , . ii h, I • ` u, 1. 0 \I , nill 1 .. f 47 ar •171-Lt, ta• . 1 _ kc • , - . , ,,,_ z. t :.... , e ._. ' i , .t 1 . i' 1 S I—) I ' , 79 %.) Ili: se • a.- / 6 p t it . ' 1 1 1 I 1 1 1 [ II -I-at __ I , lit—Iii*Itili \ havisommtH- lilt_ ,. t i ..„ / ') .. J. • mi ._... , p _ ( re A '11114.IAA i` . t- + aiilli-7-Lt�; S • Brighton Blades Plant Aerial Lean To s 15 WVn - r Y- a i _ z f3 sr ru r . . " 3 16.0 si g iau'v ay s11MrOs. t 49 W M 49100.0 ti ,041 4O' WM rs: , lit Floor Of ft, -3Wu.Osr tS' wH k 17949,2 c. too 2M floor oflce 17044.2 if 3 Wate►wase 20034,0 sd 4Q W Lz.zscar"�jD�cck LC4daQ txc. W113.3 s1 Lcc_ , 9 Dock in' X.O st 3.0 s! Li Immmilit 21' W.• 1 ., 2010AA1 ton 1054' I 20976.01• Pre-Preg +rU!:.:.t L'. 1.1'x132.4 : - 49' W,. •iO. si 1280,0 : r. r- I 3120.0 id Vi I 21:6•7...^. •.! 1ST w >. IM 2, Si Lean Tn't 23' w" :14 tahvay 1- . + 74%0 if . ` Lean To — paint Bldg 11)1004 ,t f,nlsn IS 35052.0 sf 55752.2 sl n " - 44' W H 10 v'." Tunnel 13329.0 sf 31' WH `; -i us 404' _ I., r t Sketch CBOE_COMM_01 0 Pag Bri :hton hton Blades Photos - 4 ; II - J 11,6 it R _am _ rte 011 ; 2010 12 ' 14; 2010 12/14/2010 CBOE_COMM_01 C Pac Brighton Blades Plant General Description The Brighton Campus is located north of the City of Brighton within the City limit and east of Highway 85 The Campus spans north of New Energy Drive or Weld County Road 4 to E Crown Prince Blvd. or Weld County Road 8. Weld County Road 20 is a few blocks west of the campus. The campus is made up of several parcels. The greater part of the campus is fenced and landscaped. The blades plant itself is on a single parcel that has 112.4 acres on the northern portion of the campus. The Brighton Blades plant consists of three buildings. The service garage is utilized by the entire Brightc Campus. The Brighton Blades Plant is slightly larger and has nearly the identical features as the Windsoi Blades Plant. The one exception to this is the Brighton Blades Plant was built in a single phase resulting a slightly different cost to build. Building one of Brighton Plant includes the paint area. The main buildir contains approximately 506,700 square feet and is considered 90% complete as of January 1, 2011. The is a small portion of rail spur located on the west side of the blades parcel. Building one is 90% complete, a summary of total costs are as follows, and a detail cost profile may be found in the addendum. Brighton Blades Plant Cost 506,691 square feet @ $157.00 per square foot = estimated cost $79,543,919 CBOE_COMM_C1i Pa The Bri : hton Nacelle Plant - ArgeelliraC Or • ' it a . ...• AV tan a .....: lt a.L. t• • as sanS s - so arasbiabatiV . t IP . •• • "8.016"; • a 1 r Aerial Photo y�77.8• 77 6' io 1424.3s1 4243 Firr 90002 24 wH 13' WH 17 WH tt nn Mal if 2'6.1 77,8 77 6' 77.W k 19 locks Roots m !Lackst Room °° Loam Room P. 1 1024.3 sf - 3 19_43sf 3 1424.3 sf m 762-4' First Floor 222Oc4.4 sf 51 c4 WH ;phutle�rd Han�ufacturing P N d' F, 94.7' 1st Floor Office Weroa usa 145 18249.8 sf g i►iamono oo : 1765.4 of f` 2nd Floor Office : 31' WH 18249.8 sf 30 WH 322.8' 72.4' 139 7 Sketch CBOE_COMM_01 Pagc Bri :hton Nacelle Photos .4 irj • ■ 4 f -� no �� •.i • ` •scrse iganan rye yti . .. 01 /07/ 2010 12/14/2010 • • • • • 7 I It 1 . • • � r• 4d r• .1.r.CL.:i:t*tal a I CBOE_COMM_0 Pa Brighton Nacelle Plant General Description The Nacelle Plant is located on a single parcel within the Brighton campus and contains 65.77 acres. The Nacelle Plant was specifically built for the manufacturing of the nacelle of a wind turbine. The nacelle sit atop the tower and contains the gear box, low and high speed shafts, generator, controller,and brake. Tt Nacelle plant has two buildings, the main manufacturing plant and a guard shack. The guard shack is utilized by the entire Brighton Campus. Building one is a Special Purpose building built with some of the following characteristics; Heavy and Light Manufacturing, Office,Warehousing, and a Cafeteria. The building contains approximately 273,900 square feet. The nacelle building has a story height of approximately 52 feet over the manufacturing are and approximately 32 feet over the office and warehouse area. According to plans, the building is designed to support 29 cranes ranging in capacity from 1 ton to 80 tons. The cranes and bridges are consider personnel property, however the rails the bridges operate on are part of the structural support of the building. Rather than clear span there are excess support columns. Extra expense was incurred fo footings and foundation to support such loads. As with the blades plants the nacelle plant has multiple occupancies in close proximity to each other, building code requires occupancy separation walls. The nacelle plant is fully sprinklered with automatic smoke and heat vents. The Nacelle parcel has the largest portion of the rail spur located on the west side of the parcel. A summary of total costs are as follows, a detail cost profile may be found in the addendum. Brighton Nacelle Plant Cost 274,367 square feet @ $215.50 per square foot = estimated cost $59,128,445 CBOE_COMM_0109 Page' COST APPROACH SUMMARY The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial properties in Weld County,which has been approved by the Division of Property Taxation to be utilized by Colorado Assessors. The structure has been classified properly utilizing the Marshall and Swift Valuation service and an appropriate value assigned. A land value has likewise been established through the utilization of vacant land sales of comparable properties. Improvement Value $202,798,033 per sf $171 Land Value $ 21,069,128 TOTAL VALUE BY THE COST APPROACH $223,867,161 per sf $199 Actual Costs The actual costs for the Windsor Blade Plant were asked for but not supplied. However during the initial inspection Vestas supplied costs for Phase I and Phase II, see addendum. The following chart summarize Phase Square Feet Cost Cost per S.F. Phase I 173,941 $42,676,799 $245.35 Phase II 162,994 $35,191,843 $215.91 Totals 336,935 $77,868,642 231.10 The actual cost for the Brighton Campus (Brighton Blades and Nacelle plants) where supplied, see addendum. The total cost of the Brighton Campus was $154,194,822 or$197.42 per square foot. Actual costs do not include land purchases. Total Costs Supplied $232,063,464 Total Costs Supplied per S.F. $208 CBOE_COMM_010 Page LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2009 and the first six months o the 2010 market for the 2011 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2005 through June 2010 to establish the proper value, if sufficient information is not available in the pric 18 months. Also, comparables outside the subject property area may be used. The Weld County Assesso has an established ongoing sales confirmation and validation program for property transactions used in developing value. The total land size of the subject's 3 parcels is 10,930,936 square feet. Comparable commercial land in Weld County ranges from $1.74 to $2.39 per sq ft. A value of $1.93 per square foot was chosen to be applicable for the subject property when considering its locations. Parcel Number Sale Date Sale Price Land Size Per S.F. Buyer Comparable 1 080725202001 4/17/07 $5,500,000 3,169,707 $1.74 Vestas Comparable 2 131334336001 7/2/2009 $1,740,100 870,032 $2.00 US Engineering Comparable 3 080722317005 12/31/09 $1,115,000 529,292 $1.90 Warren Fed Credit Unioi Comparable 4 131335000001 9/1/2009 $7,192,300 3,010,867 $2.39 United Hospital ASSESSOR'S SUBJECT LAND VALUE $21,069,128 CBOE COMM_010 Page Land Sale Comparable Map 4fkeirr WELD COUNTY Colorado ; • i :, ; , j '� Property Information Portal Windsor .� ., ,. .IL: .• , Blades Plant ••" M! a !matter/ Street= and Comp 1 • { - n ' EAT• n kt c * ri i c�-ra a ••ate, i *A. • i S Comp 3 wiNobzett Kitl., j - 1..1' . . 4 1.1 i , rr - .i UMWA * I ` ta� 1 _ • ti. • p "r JOHNSTOWN, t . 85'` ' 34 r�l - BERTHOUD - GILCREST d a ` , MEAD y N...t.,.4 ` Q . - LONC3f.40NT ,.+ ' . Brighton s, 9 IRESTOPE •• a Blades & f: t,a•4 Comp 2 P ' 85 Nacelle Plants . `: FREDERICK ` ■r� • . . I ; - r , ' ' j a iv * 7 w Comp 4 t a it, mra a ; .3 ' O' �..' t. (EJE T • ' IGHTII _• H= •' r... '_ ` . .tfl; -r x;05' gcP aim z9 d0° gr GEED a CBOE_COMM_01 Pap MARKET APPROACH SUMMARY The subject properties are Special Purpose buildings, built for the production of wind turbine blades and nacelles. A search for sales of similar Special Purpose properties was completed with no sales found. With no data to analyze,the Market Approach the Value is thought to be not applicable. VALUE As INDICATED BY THE MARKET APPROACH N/A INCOME APPROACH TO VALUE The subject properties are Special Purpose buildings,built for the production of wind turbine blades and nacelles. Inquires where made for lease information of similar buildings or buildings that could be used similarly. No applicable leases where found. With no data to analyze the Income Approach to Value is thought to be not applicable. TOTAL INCOME VALUE FOR THE SUBJECT PROPERTY N/A CBOE_COMM_01C Page CONCLUSION Real property for the tax year 2011 must be valued utilizing the level of value for the period of one and one-half years immediately prior to June 30th, 2010. A period of five years immediately prior to July 1, 2010 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data-gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof{39-1-104(11)(b)(I), CRS}. The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approaci and Income Approach to value. {39-1-103(5)(a)C.R.s.} The Assessor has considered all three approaches ti value for the subject parcel on appeal. FINAL RECONCILIATION After consideration of the cost approach, it is the Weld County Assessor's opinion that the value of $236,083,038 most accurately reflects the value of the subject property in Weld County for the 2011 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH $223,867,161 N/A N/A ASSESSOR'S VALUE Industrial Windsor Blades Plant $ 69,672,339 Industrial Brighton Blades Plant $ 89,336,207 Industrial Brighton Nacelle Plant $ 64,858,615 Total: $223,867,161 CBOE_COMM_010f Page APPRAISAL STANDARDS AND ETHICS CERTIFICATION I certify to the best of my knowledge and belief that: The statements of fact contained in this report are true and correct. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and is my personal unbiased professional analyses, opinions and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent on an action or event resulting from the opinion or conclusions in, or the use of, this report. My analyses, opinions and conclusions were developed, and this report has been prepared, in conformit} with the Uniform Standards of Professional Appraisal Practice. No one provided significant professional assistance to the person signing this report. I have made a personal inspection of the property that is the subject of this report. 1/4A4) YU-"" Wade J Melies Commercial Appraiser Colorado Certified General Appraiser CG40036400 CB0E_COMM_O1OS Page Addendum CBOE_COMM_01 0 Page Windsor Blades Partial Costs Vestas Blades Americas 1 Phase I & II Square Footages & Costs Phase I Square Feet Costs New Construction Paint Hall 22.930 Paint Kitchen 1 ,500 Finish 47,084 Mold 60,720 Cutting 10,289 Admin 15.366 Rack Stara e 16.082 per tit:* Phase II Square Feet Costs New Construction Shimoda 35.813 Root Joint 36, 736 Pre Preg 64.659 Total _ 137,208 Renovations Exis-ing Administration 2 ,836 Main Dorn 20: 750 M<iiri Dorri Offices 2 ,200 Total 25,786 CBOE_COMM_01 Pap Brighton Campus Costs WORKING BUDGET vesta% Brighton s(te Budget Date: 5/2/2012 t:y�,fNf Siti'l1I Actual Costs to Committed Costs Expected FinalDescription Malin Budget Budget Risks Protected Budget Committed Casts Date Open Balance Costs Solt R.2 Ina a c- rr r:rvv C.0$ins c 5,433 S 5,439 S Split gall Fencr C:Ar Fan,-C01031 S 97359 S 97,969 S Spilt W Fence Company CO1073 S 3.693 5 3,523 5 :7/ Spilt*all lence Company-C01123 S 4.1)5 S 4.105 S Spilt Rt6 Fence Congers-C01129 S 7,173 S - 5 1.123 Sits S21nag1 $ - S 154.769 S 154,741 $ 101769 1 BB,OSe $ 1!.731 $ 154.769 Advantage Sign Cur pang 5 76.731 S Sh5:7 $ 19,714 Advantage Sign Company-CO a 056 S - S - S • WA.Contract on S 75.715 S 15,725 5 W.1.Contractor. CO 1 0.86 S 3.31: S 3.3:: S Guardhouse s 100000 S 111.700 S 171.700 S 24700 $ 228,700 $ - S 214700 Roche Concrurtaes -CAl c130 7)9,7(47 S 174799 S Bates/Sin LnaRy S 327.000 S 614.626 S 971.626 $ 011616 $ 072.626 $ • S 911.626 Kenny tin t& CO 1034 S 930.065 S 800065 S Mph.*Specianes •CC 1 047 5 31.147 S 31,147 5 Spit RA Fence Company COP 046 S 134,466 S :34464 S Sger Rail Ink Pcompany COa114 S 2,250 S 1,750 S Sc or Ganractky-Paying COWS 4C1 CU 1034 $ 2.701 S 2.701 S U1ya/Ratroom,at Truck Steeng Ana.Ind. Irusuieine Slarrort S 164000 5 35.311 $ 195.311 S • $ $ • S 195311 Twltprwyltilldltlrane S 25.000 5 25.000 5 MGM $ 7833 $ 17.147 5 25000 ModSpac► 'Wrtrkdgwtr S 25.000 S 7.353 S 17,147 1Msgs/R1FYaraISaMarflose S 75,000 S (15.3111 5 19.690 S *411 $ A640 S - S 3%690 Scott Contractkg-U10MnConuaci-CO 10;,5 . 39,690 $ 39.69a S CMS isN411IgROW S 300.000 S (135.267) S 164.713 S 161713 $ 11,773 $ - S 161733 Roche Conuruttees S 91,570 S 9'.,90:1 S Nocre Constructors-001001 5 3.425 S 1415 $ Nail Cnns ruct:as -CO)t133 5 612 S 637 S Rcche Crnrnrnos CO1006 S 1.391 5 1.39: S - HUPrt,oleure S 41.635 S 43.635 5 I'd PetrAturr C0)001 S :8.550 S :3.95^ S Told landscaping/Forum/Fueling S 2.11L023 S 1,199.567 $ 3.310.590 S 3.045.279 S 3.005.046 S 44233 5 3,310.590 V111 CxpanUsn Me Wort $ - S 815.000 s 125.000 $ Lanny $ 1,1r 41 $ 41231 $ 1,110,000 Sccr Craitraling Pa-sing Contract-001015 S 8,833 S S.S11 S Scott Contracting Pass Caatract •031 037 S 363.497 $ 353315 S 10.431 Scar. Contracting Pining Canaan -COI 090 S 37,9438 S 37.903 5 kor.Contracting-Paine,Conan-CO1093 S 12,29 S :4295 S - Scort Contracting Paving Contract-COI 108 S 12.631 S 11.631 5 - Scor Contracting Paving Contact COI 117 S 158,933 S 179,973 S 28.954 Scor Conrrxting Paring Contract CO 1111 S 571.76 S 551.208 S 19.368 Nara R Asxx Imes Pregeg/Production S 30410 S 20.229 S 10.351 Kumar&Associates. HMG Ha $ 4,973 S 1.455 S 3.465 Rama Scot C00120 S :9,vs S 'S.33t5 S 13,131 Tom V112 FaOMubn Site Wail S - S BLS-000 5 125.000 S 1.214.719 S 1.141.46'8 S 14231 S 1.114000 MAIN CAMPUS TOTAL $ 25.035.709 $ (2.707,694) S 22,248,015 $ 22,382,424 $ 22241.736 S 110,6w $ 2.2.133015 NORTH CAMPUS IMPROVEMENTS Grading 6 Demon Control S 315,470 S (77,4311 S 231.39 S 231,039 S 238.039 $ - S 714019 Hero 6Sa t 715,17.) 5 175,11:: 5 Hore&Sax-COI 001 :1.369 S :1969 S SUIbhla.rr/W161/wlr- s 171.35 S 127,316 5 210.411 1 270M1 S 270.641 S S 270,641 Scott Contracting CC 4 DIM S :41 t;S S 43 11S Nor Ccrrrsstky CC1107N S :14.557 . /4.557 S i c m4.xtky CO111214 :.753 i : :hi S Total kvt6vort►re1aay S 452756 S 19,635 5 504610 S 504660 S 508.610 S S 504610 NORTH CAMPUS TOTAL $ 458,7% $ 49,885 5 508,C.10 S 508,680 S 504600 $ $ 5084*0 GRAND TOTAL S 25,194,505 $ (2,737,800) S ,2.7r,6,C% $ 2?,891.104 $ 22.753416 5 140,688 $ 23,241,696 Confidential CBOE_COMM_0- Pac WORKING BUDGET Vestas Blades Fadlity &tighten Budget Date 3/5/2011 Updated' 5/23/2011 Actual costs to Committed Costs ENpected Final Description Master budget Budget Risks Projected budget Committed Costs Date Open Balance Costs 6E!.ERAL '.t \TRACT MORTENSON CONSTRUCTION $ 64,991,710 $ (3,511,a99) $ 11,48,10. $ 61.479,810 $ 61,479,111 $ • $ 61.471.N1 General Conditions 5 4.748456 $ 28.458 $ 4,176,914 $ 4.776.914 $ 4,776.914 $ General Requirements $ 2,330,347 $ 308,845 5 1,639.197 5 1,639,192 S 1,639,192 S Sttewoni. $ 1,104,797 5 (71,245) $ 1.033.557 $ 1,033,552 $ 1,033.552 5 Concrete 5 17475,540 $ (140,978) $ 12.284.562 $ 12,284.567 $ 12.204,562 $ Masonry $ 898.581 $ - $ 898.581 $ 898.581 $ 898.581 5 - Metas S 1,771.541 $ (196.826) $ 1.574.715 $ 1,574.715 $ 1,574.715 S - Woods and Plastics $ 127.765 $ 50,982 $ 178,747 $ 178,747 $ 178,747 5 • thermal and Moisture Protector' S 126411 $ 231.968 $ 458,389 $ 458,389 $ 458.389 5 Doors and Windows 5 715,710 $ (1.610) $ 724,160 $ 724.160 S 774.160 $ lin•shes $ 3.430405 $ 73,198 $ 3.504.203 $ 3,504.703 S 3,504.703 $ Specialties $ 407,500 $ 29,850 $ 437,350 $ 437.350 $ 431,350 S Equipment $ 186,500 $ 57.517 $ 739.017 $ 239.017 $ 239,017 $ Furnishings 5 $ $ $ $ $ Special Construction $ 2,770.169 $ (74,801) $ 2.695.368 $ 2,695.368 $ 2.695,368 $ - Conveyances 5 60.000 $ $ 60,000 $ 60.000 S 60.000 5 Mechanical $ 15.232.703 $ 5 15,232,703 $ 15,232,703 $ 15,232.703 $ E:ectnca $ 13,450,465 S (290,9571 $ 13,159.508 $ 13,159.508 $ 13,159,508 $ 5%Down Payment S $ $ - $ S $ liability Insurances $ 635,366 $ 5 635,366 S 635.366 $ 635.366 S Contingency $ 3,500.000 $ (2,372.215) 5 1,121,715 $ 1,177.715 $ 1,127.715 $ Fee 5 1.959,454 5 $ 1.959,454 $ 1,959454 S 1.959,454 $ Change Order N 001 $ $ 41,162 $ 41,167 $ 41,162 5 41.167 $ Change Crderla 002 $ - $ 105.906 $ 105,906 $ 105.906 S 105.906 $ - Change Order N 003 $ $ 117.533 5 112.533 $ 117,533 $ 112,533 $ - Change Order N 004 5 • $ - 5 - $ - 5 - $ - Chenge Order N 005 S $ 162.130 S 162.130 $ 162,130 $ 162,130 S - Change Order 0 006 $ $ 2,158.460 $ 2.158.460 S 2,158,460 $ 2.158460 S - CTange Order N 007 $ $ (364.133) 5 (364.133) $ (364.133) $ (364.133) $ Change Order N 008 $ $ 38,532 $ 38.531 $ 38.531 5 38,531 S Change Order N 009 S $ (90.990) $ (90,990) $ (90.990) $ (91.990) $ Change Order N D10 $ $ (3.303.214) $ (3.303214) $ (3,303,214) S (3,303,214) $ - TotfiimatMContact $ 64,991,780 $ (3.511,899) S 111,429,831 $ 61.479./11 $ 61.471,111 $ • $ 61A71.i[1 VESTAS PURCHASES Metal Wildial $ 12,744,920 S (1,254,223) $ 11,4!0,6!7 $ 11,450.657 $ 11.4/C.6117 $ • $ 11,490,101 Keefe Construction Services $ 11.353.507 $ 11,353,507 $ Keefe Construction Services- CON 1 5 35.700 S 35.700 S • Keefe Constructor Services CON 7 $ 10,699 $ 70.699 S Keefe Construction Services CON 3 S 71.056 $ 72,056 $ Kaafo Construction Services CO N4 5 2.586 $ 1.586 S Keefe Construction Services CO 15 5 138.531) S 138.531) $ • Keefe Constructor Services- CON6 5 (4,370) $ (1,310) $ - Total VettasPutthases S 12,744,920 $ (1,254,223) 5 11,490,697 $ 11,490,697 $ 11,490.697 $ • $ 11,490,6!7 PAINT BUILD IM, Paent flaw/Post Paint Bulldfl $ 4,000,000 S 2,234.4)1 S 6.234,431 $ 6,234,431 $ 6,234,431 $ • $ tin Keefe ConsVa:I kv, 4 rvi:es $ 1,11U.ti35 S 1,110.435 $ Keefe Constructor Services CONDO] 5 1,015 $ 2,075 $ Keefe Constructor Services CO 0007 $ 937 $ 932 $ Keefe Construction Services Link Enclosure $ 47,453 5 42.453 S Keefe Construction Services Una Enclosure CO N001 $ 930 $ 930 $ - Roche Con Wuctors.Mc. $ 3.733.840 $ 3,733.840 $ Roche Constructors,Inc. -CON 001 $ 16.891 5 16.891 $ • Rothe Con siructors.Int.-CON 002 5 25.340 $ 25,340 $ - Roche Con wuctors,Inc. -CON 003 $ 41,411 5 41,411 $ Roche Con wucton,Inc. •CON 004 $ 47,097 $ 47.097 $ Roche Constructors,Mc. •CON DO5 $ 12.560 $ 17.560 $ Rxhe Constructors,Inc. •CON 006 $ (1.655) 5 (1,655) $ Rxne Can*ucton,Inc. •CON001 $ 98.155 S 98.155 $ Roche Con strutton,Inc. -CON 008 5 (4.532) S 14,532) S Roche Construeten,Mc. •CO1009 $ 37.646 S 37.646 5 Roche Constructors.Inc. -CON 010 $ (39.297) S 139.797) 5 • Total Paint Building $ 4.000.000 $ 2,234,431 $ 6,234,431 $ 6,234,431 $ 6.234.431 S • $ 1,84,431 V112 EXPANSION iSEC'SEPARATE 8',u-A ti V112 Erpansion 5 21,145,114 $ (21,143,314) $ • $ • $ • S • $ 213.14l.1M :SQQ 5.,asrate 6t.eget) $ $ S TOTAL $ 102,882,584 S (2 1.677,575) S 79.205,009 $ 71 205,00 5 79.205.409 $ 5 100 3io.Hi NoLTE ASSOCIATES, INC Confidential CBOE_COMM_01 Pagi WORKING BUDGET Vestas BladesV1 12 Expansion Brighton Budget Date: 5/2/2011 Actual Costs to Committed Costs Expected f in al Description Mastv Budget Budget Risks Projected Budget Committed Costs Date Open Balance Costs Pd C PA I.C ON I PAC I The Whiting-Turner Contracting Company $ 20,125,000 GenecaConoition; S 118,208 $ 5 IIti,208 S 118,208 $ 115,008 $ 3,200 Sltewort S 48,020 $ 5 48,020 $ 48,020 S 48,020 $ - Concrete 5 306.470 S 5 305,470 5 306,470 5 306,470 $ • Masonry $ - 5 $ - S - $ • S - Metais S 13,725 5 - 5 13,725 $ 13,725 $ 13,725 S - Woods and PIa t'cs S 3.000 S 5 3.000 $ 3.000 $ 3,009 5 - Thermal and Motttixe Protactsor, $ 85,658 $ 5 85,658 $ 85,658 $ 85,658 S Doors and W ntiows S 62,453 $ $ 62,453 $ 62,453 $ 62,453 5 Primes $ 21,86) 5 $ 21,862 $ 21,862 $ 21,862 S Spedalties $ 1,950 $ $ 2,950 $ 2,950 5 2,950 S - Equipment $ S $ $ $ - S - FtxnL•hings $ $ S $ - $ - $ - Spedal Construction S - 5 - $ • $ - 5 $ - Conveyances $ - $ $ • $ - $ - S - Mechanical $ 613.947 $ - $ 613.947 $ 613,947 $ 612,275 $ 1,672 Electrical $ 256,502 5 $ 256,502 $ 256,502 $ 256,502 S 8ord $ 11,500 5 - $ 11,500 $ 11,500 $ 11,500 $ 1iabltty insurances S 12,300 S 5 12.300 $ 12.300 5 12,300 S - Fee $ 25,000 $ - $ 25,000 5 25,000 5 25,000 5 • Change Order N 001 5 S 357,010 $ 357,010 $ 357,010 $ 357,010 S - Change Order al 003 $ $ 1,681,048 $ 1,681,048 $ 1,681,048 $ 1,681,048 S Change Order 0 004 5 - $ 12.450 $ 12,450 5 12,450 $ 12,450 S - Cha•ge Order 0 905 $ S 191.342 5 191,342 $ 191.342 $ 191,342 S - thane CrderN006 $ - 5 1,307,I06 S 1,307,106 $ 1,307,106 $ 1,307,1% 5 • Chits*Order If 007 S S 2,985,174 $ 2,985,174 $ 2,985,174 $ 2,985,174 $ - Change 0rder11008 S S 3,438,004 $ 3,438,004 5 3,438,004 $ 2,857,196 $ 580,809 Change Order 0 009 $ S 5,208,594 5 5,208,594 $ 5,208,594 S 4,614,751 $ 593,843 Cherie Order e010 $ S 1,145,100 $ 1,145,100 $ 1,145,100 $ 1,021,522 $ 123,578 Change Order 1101 1 $ $ 138,468 5 1381468 5 138,468 $ 60,825 $ 77,643 • s :e act- x :12 S 5 277,056 $ 277.056 $ 277,055 $ - S 277.055 Total General Contract $ 1,581,595 $ 16,741,352 $ 11,322,947 $ 11,322,967 $ 16,665,147 $ 1,657,801 $ 20,125,000 VISTAS PURCHASES Metal Building $ 4,100,000 $ 150,000 $ 4,4'50,000 $ 4,450,000 .eet&Cot :to. .m te. .e. S 1,497,682 S 1,497,681 $ Keefe ConstrucgonSenies-CON 001 5 1,413,327 $ 1,413.327 $ - Keefe ConstnrcVon Senecas -COII002 $ 23,145 $ 23,145 $ Keefe Construction Ser'Ail •CO1003 $ 387,330 $ 387,330 $ Keefe Canstructfon Services-C01004 5 233,495 $ 133,495 $ Keefe Constructfon Services-COY 005 $ 46,886 $ 46,886 $Kee te Construction Services-CON 006 $ 475,359 $ 460,359 S 15,009 Keefe Construction Services-CON 007 $ 18,595 $ - $ 18,595 Keefe Construction Services-CON 008 $ 318.725 S 269,212 S 49,513 Keefe Cnnszructfon Steaks; -CON 009 S 1,375 $ • $ 1,375 Total WetasPigeons $ 4,100,000 $ 350,000 $ 4,450,000 $ 4,4111,11.1 $ 4,1181046$ $ 84r*1 $ 4,450,000 TOTAL - . •y^, ' 17,091,352 $ 22,772,947 $ .. :a) N OLTE ASSOCATE S,INC. Confidential CBOE_COMM_0' Pac WORKING BUDGET Vestal Nacelles Brighton 4/8/2010 : ,- , : Actual Cadet. Committed Cotes Item Description Mast erBudget Budget Risks Projected Budget Committed Costs Expected Final Costs Date Open Balance GENERAL CONTRACT Ale agallaillaggil ab. aliSlidilMilliallillallie KNOLL PHILPS CON UTRUCT10NCC ANY 5 2=,:i7,Pt: General Conditions S 1,087,000 $ S 1,087,000 $ 1,719,874 $ 1,719,8 74 $ Sitework $ 105,000 S 5 105,000 S 300,352 $ 900,352 $ Continue $ 2,857,000 S 5 2,857,000 $ 3,386,744 5 3,386,744 S Masonry 5 82,000 $ $ 82,000 $ 90,780 S 90,780 $ Metals S 5,600,000 $ ?07,000 S 5,803,000 $ 6,106,815 5 6,106,815 S Woods and Piast:cs $ 94,000 5 5 94,000 $ 4 746 1 $ 47,561 $ Thermai 6 Mo'sture orotectton $ 2,38 7,000 S - 5 2,387,000 5 2,318,418 $ 2,318,418 5 - Doors d,Windows $ 352,000 $ 5 352,000 $ 571,815 5 571,815 $ - Finishes 5 893,000 $ - $ 833,000 $ 1,287,879 $ 1,287,879 S - Specialties S 184,000 $ S 184,000 5 207,995 $ 207,995 $ Equipment $ 35,000 $ $ 35,000 $ 43,841 $ 43,841 5 Furnishir€s $ 9,000 5 $ 9,000 $ • $ 5 Special Construction $ 137,000 $ $ 137,000 S - $ - S - Conveyances $ 50,000 S $ 50,000 $ 54,733 $ 54,733 $ - Mochanical $ 4,228,000 S $ 4,228,000 5 5,540,439 S 5,540,439 $ - Electrical 5 2,712,000 $ - $ 2,712,000 5 3,512,697 5 3,512,697 $ • Weekly Cleanup -Material $ • $ - S • $ 1,638 $ 1,638 $ • Weekly Cleanup -Labor S - $ - S $ 24,486 S 24,486 $ - Site and Butding Cleanup $ - $ $ $ 12,834 $ 12,834 $ - insurance • General Liability S 114,000 S S 114,000 $ 126,242 $ 1 26,24 2 5 - Insurance-Builders Risk S - $ S $ 12,113 $ 12,113 5 - Bonds S 152,000 S 5 152,000 5 184,857 $ 1 84,85 1 $ - Contingency $ 250,000 5 $ 250,000 5 $ - S - ref $ 647,000 $ S 647,000 $ 756,458 $ 756,458 S - Alternates/Revised Scope Items $ 203,000 5 1203,0001 $ • $ • $ - S - AddRional Change Order Scopes $ - $ - $ - $ 29,303 5 29,303 5 Change Orders I - 14,Distributed Above $ - S 4,159,874 S 4,159,874 Subtotal General Contact $ 22,178,000 $ 4,159,874 $ 26,337,874 $ 26,337,874 $ 26,337,874 $ - S 26,337,874 Change Order I 1 .5 (556247) ChangeOrder 4 I $ (447.737) Change Order 4 3 $ (2.668) Change OrderIt4 $ (69a721) Change Orders 5 $ (67.066) Change Orderl6 $ (52.242) Change Order►7 $ (3$138) Change Ord erl8 $ (240,0W) Change:Ater 19 $ (468.391) Change Order I ID S (554,41%) Change Order 111 $ (375,314) Change Order 4 1) $ (391000) Change Order 113 $ (138000) Charge Orders 14 $ (131000) lieo socoi on far tatie Meters r 705 172: Tali General Cantnd $ 22,178,000 $ 4,159,874 $ 26,337,874 $ 26,337,874 $ 26,337,874 $ • $ 26,337,874 TOTAL :.111,000 $ 4,159,874 $ 26,337,874 5 26337,874 $ 26,337,874 5 • $ 26,337,874 NOLTE ASSOCIATES, INC Confidential C BOE_COMM 0' Pac WORKING BUDGET Vestas Brighton Site Budget Date: 5/2/2011 trpda:ed: s/?,:r)7- Actual Costs to Committed Costs Expected Final Description Master Budget Budget Risks Pro(ected Budget Committed Costs Date Open Balance Costs MAIN CAMPUS GRADING/PAVING/CONCRETE Site Grading, Removals,Eraion Control $ 4,372.384 $ (400.3413 $ 3,971,144 S 3,961,114 $ 3,956.273 S 5.569 5 3,971.544 Fiore &Sons $ 2.810,340 S 2,810,340 S Flare &Suns •CON 003 $ 41,327 5 41,327 5 note &Sons -CON 0)6 5 16.258 $ 16,253 $ Fiore &Sons -CC* 032 5 8,711 5 3,711 S Rote &Sans -CC N 057 5 36,186 S 36,136 S Fiore&Sons -CON 092142 S (176.3%) 5 (176,306) S Contech Construction Products S 606,519 $ 602.162 S 4,257 Canter;Construction Products -CON 014 5 114.406 $ 111406 S - Mphal! Specialties S 396,222 S 396,222 S Asphalt Spccialtles •CO X 011 5 44.910 5 44,910 S Asphalt Specialties -CON 012 S 13,146 5 13,146 S - Asphalt Specialties -CC s 110 5 (98.871) S (98,871) S - Scott Contracting Paving Contract CON 036 5 27,340 5 22,340 $ Scott Contracting Paving Contract CO N 071 S 58,650 5 57.333 5 1,312 Scott Contracting Paving Contract - CON 078 5 46,222 5 46,222 5 Scott Contracting -CON 029 Minn ANrRolm, 5 21.783 5 21,733 $ - Site Pawing $ $.913`417 $ (1.367,627) $ 1545.710 $ 6.545.790 S 6,545.790 $ - S 6,545,790 Fiore &Sons CC N 068 S 176,242 S 176,242 S Asphalt Specialties $ 1.740,041 S 1,740,041 5 Asphalt Specialties -CO a on $ 609,190 5 609,190 5 Asphalt Specialties -CON 044 $ 31,310 $ 3'.,313 S - Asphalt Specialties CO N 045 S (70,740) 5 (70.740) S Asphalt Specialties CO X 063 5 24.937 5 21937 S Asphalt Specialties •CO X 070 5 325.276 5 325.276 5 Asphalt Specialties -CC *110 S (237,797) 5 (237.297) S Scott Contracting •Paving Contract S 2,351,566 $ 2.851,566 S - Scott Contracting Paving Contract CO 1033 5 85,194 S 35,194 S Scott Contracting Paving Contract CO 1037 $ 12,632 $ 12.632 5 Scott Contracting -Paving Contract - CO 1038 5 633.500 5 633,500 5 • Scott Contracting Paving Contract -CON 039 5 304,294 S 304,294 $ - Scott Contracting Paving Contract CO *061 S 3.468 $ 3,463 5 Scott Contracting Paving Contract CON 062 S 155,932 5 155.932 5 Scott Contracting -Paving Contract • CON 067 S 8,041 S 3.041 S - Scatt Contracting -Paving Contract -CON 068 S 16.794 5 16,794 S - Scatt Contracting -Paving Contract • CO N 069 $ 9,895 S 9,895 5 - Scott Contracting Paving Contract CC *075 5 5,256 5 5,256 S Scott Contracting -Paving Contract -CO*076 $ 4,950 $ 4,950 S • Scott Contracting •Paving Contract -CAN 077 5 2.896 5 2.3% 5 - Scott Contracting Paving Contract -CO 1O79 5 (247,7%) 5 4247,706) S • Scan Contracting Paving Contract CO 1031 5 27.142 5 27,142 5 Scott Contracting Paving Contract CO N 0% S 8,435 S 3.435 5 Kenny Ekctrk -C01020 S 58.698 S 58.698 5 Kenny Electric - CO$077 S 1.900 $ 1,900 5 - Scott Contracting •CC N 049 rtamlies Aar Scoot, $ 3,946 S 3,946 5 - Canasta Curb,Gutter and Sldewsk $ 861.482 5 (562,713) S 298.769 $ 291769 S 1!5,70 S - $ 2911,769 Asphalt Specialties 174.073 S :74078 S - Asphalt Specialties -CO $011 5 52,267 $ 52,267 $ - Asphalt Specialties C.0 N 063 S 11,268 S 11.768 $ - Asphalt Specialties CON 110 5 (84,869) S (34.369) 5 Scutt Contracting Paving Contract S 33,900 5 33.900 S Scan Contracting -Paving Contract -CO N 061 $ 842 S 342 S Scott Contracting Paving Contract - CO*071 5 61,155 5 61,155 S scot: Contracting - Paving Contract -CO a 079 S 129 $ 179 S Total Grading/Paving/ Conant* S 14.147.283 $ 13.330,8801 5 10.816,404 $ 10,806.404 5 10,800.835 5 5,569 S 10,816,404 SEWER/WAR R/ STOP oA Onsit.Sanitary Savor 5 649,969 S (360,230) $ 289.739 5 289,739 S 251.739 S - 5 289,739 Scott Contracting Utliltle)Contract S 249,967 S 249,969 5 Scott Contracting Utilities Contract - CO 11024 5 2,535 S 2,535 5 Scott Contracting -UtiNties Contract -C01305 5 27.725 $ 27.723 $ - Scott Contracting LitSNtiesContract -CO X075 5 (7.104) 5 (7,104) S - Scott Contracting - CC 1 029 rumtr.4,n1S. .1 5 5.873 5 5,873 $ - Scott Contracting CON 064 :tit •-,Ain?Scocet $ 2.31.0 $ 2.310 S Scott Contracting - CC N 060 1.z • ..aAPicort S 8.432 S 8,432 5 - Fire Water Pump / Pumping Station 5 750,000 5 (750.000) 5 - $ - $ - $ • $ - Omits Watar System $ 1,305,417 $ (330,542) 5 974,596 $ 914,195 S 974.19$ S • $ 97189$ Scot: Contracting Utilities Contract 5 786.723 5 786,728 S - Scott Contracting • Utilities Contract -CO N 024 5 147,823 S 147.823 5 - Scan Contracting Utilities Contract - CO X004 S 1,200 S 1.200 $ - Scatt Contracting Utilities Contract CON 4308 5 14.587 5 11337 S • Scott Contracting - Utilities Contract -CO 10O9 S 10.121 5 10.121 5 - Scott Contracting -Utilities Contract -COX 025 $ 10.561 $ 10.561 5 - Scott Contracting -CC N 029 pent aacnstaoti 5 3.075 S 3.075 5 • Scan Contracting Paving Contract CO 1071 5 800 $ 800 S • NOLTE ASSOCIATES, INC Confidential C BOE_COMM_0' Pac WORKING BUDGET Vestas Brighton Site Budget Date: 5/2/2011 Actual Costs to Committed Costs Expected final Description Master Budget Budget Risks Projected Budget Committed Costs Date Open Balance Costs Oncite Storm Sewer S 1,228,450 S 583,656 S 1,812,106 5 1,812.106 S 1,812,106 5 - $ 1.812,106 Scutt (cm cat ting tltilitle•;Contract S :,:311,242 S 1,':31,242 5 Scott Contracting UtilltiesContract CU $024 $ 266.054 S 266.054 S Scott Contracting •Utilities Contract -CO $002 S 274.963 5 274,963 5 • Scott Contracting -Utilities Contract -CO N 025 5 9.230 S 9,230 $ • Scott Contracting CC$ 026 tat r.vsAd escaer) S 7,450 S 2.450 S Scott Contracting L CO 1029 RA.vnAdd?30,0r! 5 32,046 S 32.046 5 Scott Contracting • CO 1 060 (ldreattsAAP?3CO ) $ 2.330 S 2.380 5 Scan Contracting -Paving Contract -CO N 071 5 43.190 S 43,190 $ - Total Sewer I Water I Storm $ 3,931,856 $ (857,115) S 3,076,741 S 3,076,741 $ 3,076,741 S - $ 3,076,741 DRY&OTHER UTIUT1ES GAS Relocation • Main Parcel S 231,547 5 (51,271) S 182.276 S 182,276 S 182,276 $ - $ 182,276 I. -If t. . .,:tine r tin IA:: S :32,275 S :52,276 S Guts Relocation • Southwick S 300,000 S (182,588) S 117,412 S 117.412 $ 117.412 S - S 117,412 !. If r.'. • , . 'h tu, ^n -a,:ti. S 1.7.412 S 117,412 S Double Pole Electric Relocation 5 1,560,000 S (833.262) S 726.736 $ 721738 $ 726,738 S - 5 726,738 5 20.000 S 20,000 S ;::s'A r3ltritt 1 -•:c $ 706,738 5 706,738 $ - Double Pole Temp. Electric Relocation (WAPA) $ 300,000 S 78,547 S 378.547 $ 371547 $ 378.547 $ • S 378,547 4 krcorpur,tted S 332,917 5 332.917 5 L Incorporated CC 11 5 45.630 S 45.630 5 Single Pole tlrtrlc (Substation - Primary)- UP 5 1.100.000 5 19,922) 5 1,090.071 5 1,090,071 S 1.090.078 $ - $ 1.090.078 United Power 5 :.073.205 S 1,073,205 5 United Power 5 6.799 S 6,799 $ - Kenny flectrk -CON 053 S 5,074 $ 5,074 $ - Gas Swig S 200.000 5 16,447 5 216,447 5 216.447 S 216,447 S - $ 216,447 xcel Energy S 216.447 S 216,447 S - Phone/Rber/___• S 150.000 5 143,512 S 293.512 5 293,512 1 293.532 $ - $ 293.512 PA Waffensmith 5 42,924 S 42,924 5 Qwest $ 24,177 S 24,177 S Kenny Electric S 226.411 5 226,411 S Ste Lighting $ 1,000,000 5 214,271 5 1214.271 $ 1.214271 $ 1,205,615 $ $656 $ 1,214,271 Kenny Electric S 1,049.159 S 1,040,503 S 3,656 Kenny Electric - CON 017 5 1.500 $ 1.500 $ • Kenny(here - CON 01S •• Nacelle Ergots: 5 26,668 5 26,66S 5 Krrmy Electric- CO1021 " Nacelle.Rrqursr 5 8,213 5 5,223 5 Kenny Het Inc CL)$ 017 S 4,634 5 4,634 5 - Kenny Electric CO N 048 S 13,332 S 13.882 S Kenny Electric -CON 051 5 17,683 $ 17,683 $ • Kenny flectrk -CO N 052 $ 50.371 5 50,321 $ - Kenny Electric -CO$OSS S 4,678 5 4673 $ - Kenny Electrk CON 066 5 2.005 $ 2.005 $ Kenny Electrk - CON 072 5 35,518 5 35,518 Total Dry&Other Utilities S 4.843.547 5 (624.266) S 4,219.281 S 4,219,281 $ 4.210.625 5 1656 $ 4,219.281 LANDSCAPING/ FENCE/FUELING Landscaping $ 170,349 $ 273,685 S 1,144,033 $ 1,144,033 $ 1.144,033 S - $ 1,144033 American Civil Comitructors 5 750,065 S 750,065 $ Amerkan Civil Constructors CU 1040 5 36,735 S 36,735 S American Civil Constructors - CC 0 111 $ (33,207) 5 (33.207) $ Kenny Electric - CON 013 S 17.340 5 17,340 S - Scott Contracting • Utilities Contract -CO 11 024 $ 11.550 S 11,550 5 - Scan Contracting • Paving Contract - CO 1071 S 15,853 S 15.353 S Scott Contracting - Paving Contract CO 1094 S 2.767 5 2.767 5 Southern E xposse landscape - CO$097 5 290,036 5 290,036 S • Southern E xposure landscape-COS 109R 5 44.671 $ 44671 S - Southern E spouse landscape (01173 5 5,531 $ 5,531 S Ag$v Environmental 5ervk es.Inc. S 7,693 S 7.693 S Nacelles Landscaping $ - $ 170,087 $ 170,087 S 174087 $ 179.087 $ - S 170,087 W:::4;Site& Playscapes S 27.434 5 27.434 $ - Southern Exposselandscape $ 17.365 5 17.365 $ . Southern E xposure landscape- CU N 104 S 35,003 5 35,008 $ Southern E xposse Landscape - CO$ 113 S 4.602 S 4.602 5 - Kenny Electric -CON 089 5 377 S 372 $ - Amerken Civil Constructors CO a 111 S 84,306 $ 84806 5 Fence $ 274674 $ (62,033) $ 216.641 $ 194641 $ 193.269 $ 3,372 $ 214641 spit Rsil F me c• :mpany S 33.060 S 37.773 5 737 NOLTt ASSOCIATES, INC Confidential CBOE_COMM_01 Pag Rail Spur Costs From: Gudanowski, David [David.Gudanowski@Nolte.com] Sent: Friday, December 17, 2010 10: 19 AM To: Daniel Krieger Subject: RE: Railroad spur These costs are current contract values. These costs may adjust based on remaining scope and coordination with 3rd party improvements. These costs do not account for agreements with the Local Jurisdiction or Union Pacific Railroad. Grading - $3,038,276.75 Rail - $6,613,019.99 Electrical - $548,997.00 Thank you, Dave Gudanowski I Nolte Associates, Inc. 8000 South Chester, Suite 200 I Centennial, CO 80112 I P: 303.220.6418 I M: 720.560.2607 Please consider the environment before printing this e-mail CBOE_COMM_01 Pag Brighton Campus Rail Illustration asi- irle: 1 ti • *befit ris Ill - -11AIMMISIPIZIPH e W 11. A , I ,-. • -.44,• is ••• r "mil ,�,. -_ F Wane. y t I N -�.••• •r'•� I •psi --* all implimi ., , . • Ir /y � It• � {. IIII)Sg ... . 11/4 lir \—Me \ ,t \\• ..2 mr: It r n • 1 - i ,/,,:r T ilk \\\\\ , Li._ . lP•, M % ,\ * --••-•••••.a. CBOE COMM 0' Pac Windsor Blades Plant Cost Profile WELD COUNTY ASSESSOR Account PROPERTY PROFILE a: 700 P=a:OB0725202001 Halt IN etSf: IM SONS: Appr Year.1511 Lacy:11633 f of Bldg.:5 QS Out 0312612006 Ts flit 4010 Map is: LEA:WIND* Pee Out 20050326 Assign To:WJM Ini1WN:WJM Acct Tap:Industrial YBOBaOIt Ms Grow*:0 Lay Updadd:7127f2011 OWsrs Noe and Nadia Prosody Pane VESTAS BLADES AMERICA N Swat 11140 EASTMAN PARK DR Cloy: WINDSOR 11140 EASTMAN PARK OR WINDSOR CO 60550-3307 Bums:VESTAS WADE FACTORY Sold Summery laud DasMPlkaa WIN 3pIP LI BLitt GREAT ri69TERN INDUSTRIAL PARK=FG(GREAT WESTERN SiN AMEX' WEIS.Non GREAT W68THN NMaTNML PARK SUB 3rD FG Block Lot Tract Ss01i0n Townie Rags 1 1 25 06 67 Lard Valuation SSSMrMY Nat Slate Unit of Naar Yaks Acted Mann Ass= lad Type Ag Code Cada Fast Maeda Of U.*. Par Wl VAN POMMY Weis Mudd 3115 3,169,707 Sgaro Feel 3169707 sin $6,546,®OA0 020 $1,606,510 land Sayal: ?NUM ss,saanas nags s monadic July 27,2011 Page 1 old CBOE_COMM_010'. Page WELD COUNTY ASSESSOR Account R5250700 PROPERTY PROFILE Panel 0907 25202001 Sal BIM ar4•: (Maps: B1ddYgs Valuation Summary AM As�1 Aaaeaeed Bldg Property Type Coda Moan Areal Value bream$ Vale 1 Commercial 3215 393-Indust Heavy Mann last Rig 957,570.947 029 $16,655,545 2 CnmmarcYl 3215 333-Indust Heavy Memoeckakg $5,847,146 020 $1, 5,472 3 Commie 3215 183-Goff Starter((hard House)Boogie $23,110 0.29 $6,702 5 Commie' 3215 601-Comm Sled-Equipment $400,500 029 $142245 6 Commercial 3215 325-Service Garage $194,066 0.29 $66,279 keen:wants8rdild: I6 izuu9 $tttaw Total Pmpern Value $O12.229 allag74 'Apparent;/teamed Value Building s: 1 Condo SF Condo%Land: Condo%Bldg: Lndt Type: Landscaping$: Props,Type:Comnen:ol 90.00 Qmdiyr: Good Meld: 2005 Occupancy: Iran Heavy Irlanulacturbg Congdon: CM-Ty idd le d EM: 00 Parisepr: 2536 Ibld A4: 1 Percent Comp: 100.00% Individual Built As Dept Built As: MM Heavy Maradacksin year ma 2007 lion Type: S Tear Remodeled: IA'AC: Pathage US %Remodeled: kdmior taliA: Add Yaw BM: 2007 Ron Cann: Elbe*Aga: 3 weft SF. 106860 Ilk Wm: •of Balm: Tag LangdJMdtlB: X •of Bin: Tag LmngdYMddt X •oftlloritm 1 Igo Sifting LE: Ben SIN. 46 NH Mating type: $pruner SF: 106360 Diaepa Comedy: Haight: W edn0in July Zr,2611 Page2 d 10 C8OE_COMM_010 Page WELD COUNTY ASSESSOR Ao•oores:F15250701 PROPERTY PROFILE Prc l 060725202001 sal• err Nat: MISS Bet As: edral ley Mniaci nn Yaw But 2009 Comaerrpon Typo: S We Remodeled: INAC: Package Unit %Remodeled: Bats Rah: M Yaw Be: 2009 Roof Cower: Medlin Aga: 1 Bet As 8F: 129553 Mh Make: it of Bar Tag LrrggVMMM: X s al Odom: Tag Langg ildlle X •of Motes: 1 Rh SMtiq LF: Wpry MOW 46 MH BMtiq Typo: Spam 8F: 129663 DWn_M: Capedly: MIS* Bet As: Indust kW/Mradacknn War Bred: 2009 CmrUrogsn lypt S We lbmodsled: INAC: Package Ural %Remodeled: Mentor Ride Ad Year Bh: 2009 Roof Carer: Moan Ago: 1 Bud As SF: 44764 Eh Mshs: s of BSI Tag LangguwMIM: X •of Snot Tag Lan i/WldSt: X it of Saris: 1 Rh Skink's LF: SSW Height 29 MH BM,Nng lypo: Spitler SF: 44755 Oeereler: Capodly: !eight: Bud As: Rosh u arde-Calderis We Bud: 2009 Contuse=l'ype S YerRemodeed: INAC: Package Una %Ramabled: htorior RSA: Ad Year MI: 2009 Roof Corer: Mee Aga: 1 BedAsSF: 11979 Rh SS: it o1 term: Tag La glYNIMA: X t of Bdrsm: Tag La glIVMMM: X •al Soren 2 Rh etlrMq LF: Wary Hal ile 15 NH Skirling Typo: 8orildlar SF: 11979 Diealar: Cepsaiy: Height: Wad esdy,July 277,2011 Page 3 al 10 CBOE_COMM_01C Page WELD COUNTY ASSESSOR Account e:85250705 PROPERTY PROFILE Pared F.090725202001 root visas: wino Bait At Indust Rory Hadaciwin Yw B1$: 2007 CaaenotlonType: S Vast modebd: HFAC: Package UM %Remodeled: Interior Finish: Aq Year DL 2007 Row Carer: Mean Ifs: 3 DIA As SF: 10040 Rh Make: s of Baths: Tag La1gt lWldlh: X S of'Mims: Tag Lag11YMMlb: X s of Sexes: 1 Rh Skirting LE: Slow Wight: 14 MH SMhthg Wpm: stllhtlar SF: 10040 Dim NS: CspadIy: HMS: Belt As: industrial bdaor Mice Sp Year Bet: 2009 Conatnetion Type: S Yea Remodeled: HIAC: Padagolhri %Remodaled: interior Allah: Ado Year Bit: 2009 Roof Ca MOW,Ago: 1 Bolt As SF: 5950 Mb take: s w Sam Tag LagtlVwwth: X S of Sethi*: Tag Le ggVWfdee X s of Sexes: 1 Rh Sidrdng LF: SOW sclt 15 MH Stifling Wee: SOWS 5960 DWerer: CaPrhF: Hddq: Rua At Indust Hory Madadurin yeas BO* 2001 Cnebledon lye: S Year Remodeled: HIAC: Package lei %Remodeled: hat Roth: AI Year DL 2007 Roof Caen: Motive Age: 3 Rh$As SF: 23250 Rh Mew I of Bate Tag Lun VWWlh: X s of Bins: Tag Lsnprrwwlh: X I of Slerea: 1 Rh Shirting IS: Slow[eight 33 YH Sitting Wee: Sprhdler SF: 25250 Dar: Capaa y: Haight Wednesday,July W,2011 P1130 40110 01 10 COOE_COMM_010. Page WELD COUNTY ASSESSOR tacos e:85250708 PROPERTY PROFILE Patel s:080725202001 use III Suss: WI some: Built As: Mabel Mellor Outs Sp bar Bash 2007 Captivation Type: S Year Rsraodebd: HIM: Padugo Unit %lbaodalsd: Interior ROW: A4 Tyr St 2007 Roof Cat SWAM Age: 3 Boil As If: 24528 NA Yoko: s of Sago: Tag tiro IPAdth: X s of Bdnns: Tag LongMJwidIh: X s of Slorbs: 2 NA Shlydng LF: Spry Sin: 15 Ni SMYlhlg lypa: Syrhilar SF: 24528 BYsgsr: Cepadly: Ma Building MSS Bldg if: l USN Urals Rios RCN Actual Value et Losing Dods Filed Cam Walla a Floor 2837 813.19 $37,420.08 $37.42100 Awful Goad 218259 $250 8545,62500 $545,625.00 Conon%Slab Good 78200 $4.40 $344,000.00 $344,08000 Value DSOs RCN Co*UF: $156.91 Oeaga A4%: 0 Fine Ohs%: 0 Total RCN: $58,152,37100 Sander MrI%: o Eon Cgs%: 0 Phis Dept%: 0.01 hrpriorA4% o Other OW7k 0 RAPP DWI 5: 581524 Ames o RCIILD$c 857,570,847.00 RCNDCoosIF gleam BWhgISF: $0.00 Weans*,Judy V,2011 Page 5 of 10 CBOE_COMM_01( Page WELD COUNTY ASSESSOR Daaan it:H5250706 PROPERTY PROFILE Paco 0011725202001 taeds alt arar. =Spat Ring a 2 Condo SF Condo%tali:C. %Bldg: Chit Type: LandeciapIng 5: Propane Type: CommacYl $0-00 O1diM: Good Itld: 2905 Occupancy: Indust Ham Maadaumg Caddsa: CM-Typical 1664 Est 00 Pniaaac 1404 Itld AR: Panes Cass 100.09% Individual Butt As Oslsd Built As: htt Hay Men la lain Twr Oa 2007 CaatmetionTypo: S YearlYaoiYd: HIlAC: Complete HVAC %lbsedeled: Wrier Finish: Ad)Year BIS 2007 Roof Carr: Enna 3 Ball As SF: 22050 FM fib: s of Bdim Tag tan dsgelddt X s of Bdnns: Tag tsgdwldpt X s of Blerbs: 1 16 Bldsi g LF. Blny Ibgls: 25 NH BMshg Type: Sprinkler SF: 22950 Olalatea Cspsoty: Halls: Boa As: Indust Harry MsM&k lin Year Bsis 2009 Constnodon Type: S Year FYaoibck INAC: None %Rosdaled: Sinn Relish: Ai Year INS 2009 Roof Cover: EFaadre Ago: 1 Bs6 As SF: 15900 Yh Make•. •of Bags: Tag L.ifll idllt X sot Rasa: Tag Limewfdllt X s of Sorbs: 1 M6 Sling LF: any Night: 25 MH Bunting Type: Synder SF: 15900 01awMr: Cape*: Ma: Bidding Oasis weamed.,July 27.2011 Page 6 at 10 CBOE_COMM_0101 Page WELD COUNTY ASSESSOR Recant 115250708 PROPERTY PROFILE Pavel*ORO/2 0M laorO MI SSW MIS: Yalu.D.la6 RCM CaaPW: $149.00 Cosign Ada%: 0 Fun Ohs%: 0 Taal RCM: $5,906208-00 Exterior MI%: 0 Ea.e OM 4e 0 PAP Orpr%: 001 Yltrriar Adj9k 0 Mgr 0A.%a 0 POW MP 59062 AntsAdj%: 0 ACRID* $5,847,11600 RCMLD CosifSF $150.51 OIrkWBF: $0.00 Wadnesdir,.M/y27,2011 Paps/0110 COOE_COMM_010 Page WELD COUNTY ASSESSOR Avant R5250708 PROPERTY PROFILE Prod*080725202001 SONS mligt: oasysv: Bulk*** 3 Condo BF Condo%Lind: Condo%Bldg: 1St Typo: Widgeon** Propad Typo: Comman:Y f0.00 Maly: Goad laid: 2905 Occupancy:Gas Stater(Gad Hasa)B Cadtian: CM-Typical FBdd an 00 PorMNm. 61 Mild At 1 Pasant Camp:100.00% kdridud Bo*As BDoug Bdt As: Gd*nor(Grad House) You Bulb 2007 CossracdonTypo: S Yon Roman* INAC: Package(hi %Iinrodad: Isdar FYdik: A4 Yin ek: 2007 Roof Came Man n Ago: 3 BOBt As BF: 231 fah at d of endue Tag Laiddinfddt X if of Bdrin a Tag La1ggand00 X s of MOSS 1 Yh Skk*ig LF: SwF Sr 11 IAN Man typal adage SF: 291 Dlonmpr: Cgroky: Hdglrt: Balding Oat Yaps Ostia RCN Colin: $102n ONO.A416: 0 rune OM%: 0 Tot/RC* 324,549.00 Dawn Ai %: 0 Loon OM%: 0 Pas Dspr%: 0.07 befog Ad)9k 0 Other OM 9fc 0 phyipip►S: 1739 Mails A4%: 0 RCAILD f: 323,110.0D RCIB.D Conn tuna l6rki:SF: $0.00 W ednaia,Judy D,2011 Page 3 of 10 CBOE_COMM_010 Page WELD COMITY ASSESSOR Amount I:85250708 PROPERTY PROFILE Patel s.080725202001 Sal ml SW: ran spa: Building A 5 Condo BF Condo%lad: Condo%Bldg: Unit Type LsndarpbnB Prepay Typo: Commercial woo may: Average Ibad: 2005 Occupancy:Comm Shed-Cipipr:ed CadOon: CM-Typical Mehl to as Perlman 220 Mehl MS: 1 Percent Camp: 100.00% I drfdwl Bdt As Ostd BSI As: Comm Shed-EW:pnedd Tier Bolt: 2009 Construction Type: S Year Remodeled: tWAC: Rubel %Remodeled: btsrir FYldn: Ado Yssr BA 2009 Roof Can: Ellett.Age: 1 Boo As 8F: 3000 Mh Msb: s of Baths: Tag Length/YANA X s of Bdnns: Tag Lai VV/Idth: X s of Morns: 1 Mk Btlrtlng LF: Spry tight 14 MN Bldning Type: 8prbiler 8F: 3000 Dreier: Caps*: ISOM: adding Osteile Bldg Undo thtPdco RCN Advil vale Can Canopies BS Awns 17336 $23-50$407,306.00 $305.174.00 Camels Si Amigo 7800 $3.68 $28,704.00 $27,843.00 Tem Detest RCN CoiWBF: $20A5 Design AN%: 0 Fmo Obs%: 0 Taal RC* $505,670.00 Ester*4%: 0 Soon at %: 0 gqa De pr%: 0-03 Interior AN%c 0 Other Obs%: 0 Phys Oeapr$: 15110 ABS Ado%: 0 RMCIM.D$ $490,500-00 HCNLD Co.* $169-50 MalWBF: $0.00 W ednady,July 27,2011 Pape S of to CBOE_COMM_01( PagE WELD COUNTY ASSESSOR AccountI:F15250706 PROPERTY PROFILE Parw l a 080725202001 lad a: am SIRS: WI spea: BuildMga 6 Condo IF Cando%Land: Cando%Bldg: Unit Typo Landscaping a Ptgary Type Colnmercid $-00 Quality: Average Math 2005 Ooospsay: Serowe Garage Csni/on: CM-Typical Itl s ihth 00 Perinean 200 Mad A4: 1 Pawn!Coup: 100.00% Yauidud BWIa As Dial Bust As: Service Garage Tsar Bulk: 2010 Construction Type: S Year Rsradaied: ILIAC: Radial %Remodelsd: Nara Malt A4 Tar Bt 2010 Roof Carer: FFecgw Age: 0 Butt As SF: 24W Eh Maha: s of Sawa: Tag LarptiValdlh: X s of Barns: Tag LargBYMidw: X s of Blortsa 1 Mk Skirting LP: SOW Sight 23 MN Skirting Wye: Spada,/F: 3200 DYaear: Capacity: MOW Building Details gtlg s: a Uulb Unix Prce RCN Adel Vats Stange 800 $18.02 $1441757 $14,417.57 Coe Campos Sled Average 1200 $23-50 $28,200.00 $28200.00 Calorsq Skit Good 1200 $4.40 $,20000 $5,280.00 vs.Delo RCN CouVIF: $66.86 Dwain A4%: 0 Faro Ohs%: 0 Toad RCN: $144,069-00 Ealudar A4%: 0 Bon CNN%: 0 Rep Depr%: 0 t1a11wA4%: 0 Mir OtS% 0 Rrys Dept$: 0 P— : A4%: 0 WIND$: $194,066 co RCIILD CO Naas Mahar&: $.00 Wednesday,July 27,2011 Page l0 of 10 CBOE COMM 010. Page Brighton Blades Plant Cost Profile WELD COUNTY ASSESSOR C INNa:85778001 PROPERTY PROFlLE A0 Pry d:147129201001 Lai NM en 4: WI Sib: Apps Thar:2011 Loay:71.973 I of Bldps:4 Crab One 01!1112010 Too Dlou 42W Map I: LEk BRGTOt AoA09 Olt 20100111 Asap TtuWJM OWNS: Mn Typo:Industrial Inao0noOrt lbw Gn l:O LatUPfloMd:6W2011 Oado Ilsala and Addrsoe Prow,Past VESTAS BLADES AMERICA INC Womb 1590 E CROWN PRINCE BLVD B City: BRIGHTON 11140 EASTMAN PARK DRIVE WINDSOR CO 90550 eras Vedas Blades Amara Inc. Sao Busanlay Ind Deaai,Yar Ft LI as 1 YENTAS CLAM s uaCGLIA MI RA Ri n TINT PAIR LYING Is!OF SW a 9lmlro.Pale YENTAS BLADES NACELLE CAWLS SW P3 Nook Lot Tract Social Townie Aaga t 1 29 01 66 Lad Windom Bona Abet liquors tilt of Sat Varna Sad Anus 'Aaraad Lad Typo Al Dodo Coda Foot Maano Of Unto Pot UM VS. Ruoan Yoke Indudrial 3115 4,996,144 Squaw foot 4696144 $00 $9,792,298A0 010 $2,839750 Land SOWS: SWIM 00.79;N9.09 9T.>I7R790 Thndey,July 21.2011 Pape l d 9 C8OE_COMM_010'. Page WELD COUNTY ASSESSOR Amoans:146775001 PROPERTY PROFILE Pawls:147/29291001 tat sq.: rl spa: eo angs Y.iwtfon Susama1y Mgt As /1...rsd Sides Prawn:11"e"e Cod. Coa1pslt? **S V hs Ilan* Value 1 Con.11atia1 3215 331-Indtat Heavy Manulachshg $79,549,73. 0.29 $72,806,675 2 Cosunacisl 3215 391-Straps-Matadi $247,205 0.29 $71,689 3 ConaicYI 3215 334-Indust 1gM Manufacturing $402,618 0.29 $116,759 4 Com arcid 3215 1129-Peking Int'Code $253,838 0.29 $73,613 h•9sa•r t a at t& $/0.54,$$9 $Y3,9A,7V Jowl P.,.fl VS. SYi1S9,YW $Z5,9A.497 'Appa.hnala Asassaad Vslw Building it: 1 Condo SF Condo%Land: Condo%Bldg: MIN Tipp Ladophlg$: Prapsr Typ.: Conanacil $0.00 duty. Goad tefd: 4903 Occupancy: Indust Gary Man factuaq Con-lon: CM-Typical teed Est 00 Par.lan 10575 MSS A4: 1 P ns19 Ca:90.00% kut idud Elute As LIMN Btu As: Indust Hoary Mwdachlin Year But 2009 Cora a9onT7pm S YsalYasd.rd: FMAC: CompleteHVAC %R.1.odalsd: Wow Finish: Ae Tour BIS 2009 Roof Caren Motive Aga: 1 Sae As SF: 5990 Ye Mohn s of Ira Tag LangSWl*c X s of Urns: Tag Longg&Mdlhe X s of Shia: 1 Yh SUSS LF: Spry Mint 15 YH Skinny Wpm Spit SF: 5280 BissaYr: Cat,: Haigh: Thandy,A*21,2911 Papa 2 419 CBOE_COMM_O10'. Page WELD COUNTY ASSESSOR A000s*#:110778001 PROPERTY PROFILE pry•:147129291001 Seat asses•: ISSN: Bra At Mart Harry Mandaciain Tom Blab 2009 Comma=Tat S Tom Pb odobd: INAC: Package Unit %Roasdolod: isora Thai: Ado Tar Bi: 2009 Roof Cowan Macao Ago: 1 Daft SF: 09934 Mh aft: •of Ott Tag ImailMWf X •of Bins: Tag I ralraldSt X •0f Sgriaa: 1 Mh Slating LF: Story HNa& 40 WI Storing lypo: Sparks SF: 69634 UYaslar: Comas: Fbla0: Boa As: aka 0&flg Tor But 2009 CoaUooyon lypm S Year Ronsdobd: INAC: Package Unit %RSsodSN4: arm iidah: AdF Taar Bi: 2009 Roof Cast Obatln Aga: Bra As SF: 35090 Mh fib: •of Bags: Tog Lormardih: X •of Bans: Tog LangE!WMlft X •of SpSbo: 2 Yh SMrgeg IS: Story friar: 15 NH SMS1bg lyp: Spat SF: 35090 SL_Lr: Capacity: Fbia6: Bra As: Indust Homy Mandaduln be B.S 2009 Ca.spnlion lypo. S Year ibnsdobd: INAC: Compgo HVAC %Ronsdabd: Merin Roe: A4 Tar at 2009 Roof Coon: Elbe,Aga: 1 Boa As SF: 11090 Ilk Mab: it of Bolds: Tog UnglVMldlh: X •of Bias: Tag LanglIVMldlh: X it of Sbrba: 1 IBS S*tIng LF: Olga Fbfl 23 RH Sating law Orin SF: 11093 Dina: Copools: Molar: Tlandq,Jry 21.2011 Paga 3 ot 9 CBOE_COMM_Otl PagE WELD COUNTY ASSESSOR Account if:R57713001 PROPERTY PROFILE PraN♦,147129201001 laae l: MI 0,: Mae Bail As: Indust WM isalrlrirg Year But 2009 CorrdModsn Type: S Year Remodebd: IMAC: None %Remodeled: Interior FM•ah: Aq Year BN: 2009 Roof Carer: Elb e*Age: 1 Bolt As BF: 1399 fat Make: s of Bits Tag LungtlWidth: X s of Bdnr: Tag Le oWIR lh: X •of Blois: 1 nth Btlrting IS: Slog Ilea Z3 MH Ridding 1yps: SprMd9er BF: 1309 Bearer: G1a.saily: Ieig1M: Butt As: Indust Very Mma/achain Year Bulk: 2010 Con email...Type: S Year Remodeled: HMAC: Space Fester %Remodeled: hsis MO: A4 Year Ba: 2010 Roof Carr: Menke Age: 0 Baia As BF: 13329 Rh teal •of Bata Tag langYYMlddt X •of Bdmr. Tag LengIWWldth: X s of Stares: 1 MM BMrdng LF: BlsrY leight 31 MH Skirting Typo: Sprinkler tIF: 13329 DL_L. Bail As: WS Hazy Man faehrin year Brit 2010 Commotion Type: B Yen Remobed: IMAC: Package tkil %Remodeed: Mario RSA: A4 Your BM: 2010 Roof Corr: Enemies Ago: 0 Bit As SF: 35052 AM floe: •of Bagm: Tag LengdiWidth: X re of Minns: Tag LenggiWidth: X •of Serial 1 Mh Brrting LF: Nary Height: 44 MN Bgr1i g iyps: Stadler BF: 35052 BWsar: Cepeoay: Melt Thnday,July 21,2011 Page 4 of 9 CBOE_COMM_010 Page WELD COUNTY ASSESSOR MOWN R6778001 PROPERTY PROFILE Para)s:147129201001 La t a 1s.e•: on mon Blrit As: Indust Wary Mattocks* We malt 2010 Crsntadon Typo: S We Woodsbd: INAC: Package tfit %Rsaadrlsd: 161adar Rush: Add War WI: 2010 Roof Cavan rlbagre Ago: 0 BuitAs SF: 1847 Ilk Wto. •of Bars: Tag LargN IVAdth: X s of Bdnns: Tag l ng tVWIdlh: X s of Maria: 1 We IMitlng LF: Story(bight: 23 MH BMnhq Typo: filprinblor SF: 1847 DlrsMr: apaaiy: Met Writ As: Indust IMa7 Manufacture) We Be 2009 Ceminctlon Typo: S War Rnnodo►d: HIIAC: Package Ihit %IbmadsNd: hysder filth: Ade Tear It 2009 Roof Covr: Malin Aga: 1 Built As SF: 259376 We Nat s of Bars: Tag L.nflf lWr: X s of Burns: Tag LenpNYMldt X s of Slabs: 1 WI SMrlhq LF: Spry(bight: 49 IIH SMnhg Typo: Spits*SF: 250376 Leans.: apaSty: IMgly: EIS As: Sus,Hoary Msdadurin be BV 2011 C mantodan Typo: S Tsar lrnadobd: IAIAC: Package Unit %M1arodabd: Interior Wish: 114 Tear Ilk: 2011 Roof Carr: I3b61Ma Age: 0 Wilt As SF: 66102 NS MS: s of Bats: Tag LungliWldth: X s of Bdrss: Tag Luq VWIdih: X t of Morin: 1 Oh Mang LF: Spry(bight: 40 NH Sgrlhg Typo. gorilla SF: 6a102 Dater: apudly: Sea: Birllrg One 'Mundy,Jay 21,2011 Page 5 of CBOE_COMM_010 Page WELD COUNTY ASSESSOR p� 1 PROPERTY PROFILE Pima o:147129201001 sett ma ago: on spas: Indio: t lit 1kisRes RCN AdS Value Conoco Slab Ammo 20000 $3.68 $73,60020 $79,000.00 Mp Amigo 200000 f2-25 $450,000.00 $160,000.00 Vt aUb RCN CmYUF: $171.42 amigo Aq%: 0 Fame Obi%: 0 kW ROE $79,640,266.00 Farb' %: 0 Earn Obi%k 0 PbnDAO%: 0 Intro'Adi%k 0 08mwOW%k 0 PM apf: 0 AMOSAq%: 0 RCNDR $79,040259.00 HMOCasvBF $157.32 SiNNISF: $0.00 Thrift, Paps 9da CBOE_COMM_01C Page WELD COUNTY ASSESSOR P --- is:R57)eo01 PROPERTY PROFILE Persl k 147129201001 US ION Salt claps: Building ii: 2 Carlo SF Cando%Land: Condo%Bldg: Unit Type: La q$: Properly Tipp:Comnacil $0.00 CMS Good M71d: 4003 Omlperers: Sbrepe-Reba Cmdlbll: CM Typed lad Exk 00 Per: 730 MOM Aq: 1 Permit Caw 100.00% Individual BU*A.Lite3 Bete As: Storage Warehame Veer Bulb 2000 Conatmotion lyps: S Year Sandaled: 1MAC: Racist 14 RaeobNd: ASSN Rnhdi: A4 Veer St 2000 Rod Ca Mogul Aga: 1 SRA.SF: 3511 l01 Mohm s of Rem Tao LanOpWMYI! X sdOdom: TugLsiglItWYBh X s d Sprier: 1 Yh*Meng LF: Steq HaiOhh 27 YH Sitting g lyp: Spotter SF: 3511 Dieoler: Qopedi/: M: Building 01S Value Dalai RCN CoatSF: $5710 Design Add%: 0 Roc Ohs%: o Total RCM $210.70200 Exterior Adl%: 0 Eau Ohs 7k 0 Phpe DEW%: 0.01 Interior Atli: 0 DplarC6o1k 0 Riys Dap$: 2407 Ames Atli%: 0 WNW* $247,205.00 RCNLD Cae*SF $+'0.41 YerbMSF: $0.00 ilium*,Jul,21.2011 P1097019 COOE_COMM_010 Page WELD COUNTY ASSESSOR MoounI:86773001 PROPERTY PROFILE Pad p 147120201om Walt wags: Inapror. Budding F 3 Cando SF Condo%Lind: Carlo%Bldg: 111d Type: LaYaaapiq iv Property Typo: Commays $0-00 Maly: Coed 16hd: 4003 Occupancy: Indust writ Nrdadue9 Condhkn: CM-Typical Mad Eat 00 Perimeter: 230 1Mtd Add: 1 Peal Camp: 100.00% Individual Bulk M Dept Bab As: 'tidiest l4tt Menu leciritg Tim Suit 2010 Coseann.*..Typo: S Tom Remodeled: HFAC: Space Healy %Remodeled: Nsder FMeh: Add Yea Bh: 2010 Root Cann: Modem Age: 0 Bait As SF: 3300 Rh Wm: s at Ballet Tag LenggdWidlla X it of Bans: Tag LungMJMAIe X s of Sloan 1 Mb Slating LF: Spy HNgIt 19 MH Silting Type: Spu1iir SF: Dbmap: Comody: HNgtd: Building DeYIM Sedge: 3 LHile t1Na Rice RCN Actual Value t. Can Canapes Sim Good 7100 $30-00 $'213.000.00 $213,00000 vain Delis RCN Cola: WAG Maip'Add%: 0 Fun Oho%: 0 Tapl RCN: $402.61800 Merles Add 96: 0 Egan Cis%: 0 PhIS Deer%: 0 idra A4%: 0 Oder ado de: 0 Min SRN$: 0 Morn" dd%: 0 RC1tDt $402,61800 RC$ILDCaagBF $12201 WriWBF: $000 Thursday,July 21.2011 Page 6 d. CBOE_COMM_01( Page WELD COUNTY ASSESSOR Asoorn•:R6778001 PROPERTY PROFILE Paced 9:147129201001 ..rat OM fait mare: Building s: 4 Cando SF Condo%lad: Condo%Bidg: (Mit Type. La dopi g R Properly Type:Conmacsl $0.00 *Mir I S: 4908 Ooarproy: Parktla 1sttxde Caddon: WM at 00 Perealen read Ai: 1 Print Comp:100.00% Individual Built As Deal Rue As: Parking lottale Year But 2010 Const edon Type: Year Ramadan: MIAC: None %!Smudging: keener Fiche: Ara Year BM Roof Conn Make Aga: 0 Bull As BF: 1 In Melt: •of Ben Tag LarggiWldtt: X •of edam: Tog Le gIYNgdlin % S of glass: 1 MA Slating LF: Baoq Ran: a nN inning Type: BpriAir SF: Dinner: Cepooklr: Rani Braiding Dept Burgs: 4 Urile Uda Price RCN Arbai Value Railroad Spur 90.15. 2600 $97.63 9260,938M $253,036.00 Value Daet RCN Coal/SF: 50.00 Design Ail%: 0 Fame Oas%: 0 Tool RCII: $253,836-x0 Eataior Add Yk 0 Eton Obe 4e 0 phpDepr%: 0 Marker Ada Ve 0 Mar OanIfs 0 Pan Dap$: 0 Pawn Ada%: 0 AICIILD R $253.889.00 MILD CoUVBF 9253.888.00 Ien1a1f8F: 90.00 Thursday,Joy 21.2011 Page 9 Of 9 CBOE_COMM_01C Page Brighton Nacelle Plant Cost Profile WELD COUNTY ASSESSOR Mount a:86778002 PROPERTY PROFILE Prot t.147120301002 lads: WI asos: WI soar Appr Teat 2011 Lar115.991 Ia Wigs:3 Owe Olt 0111112o10 Ta Cleo 4205 Maps: LE&BRGTa Mike CO 20100111 Assign To•.WJM kdMda:WJM A000 Type:YduWal bsog*Olt New Mew*:0 Last UpbNd:6W2011 Ours Nava and Address: Properly Addis: VESTAS BlADES AMERICA NC Meet 1500 E CROWN PRINCE BLVD N Cgy: BRIGHTON 11140 EASTMAN PANG DRIVE WINDSOR CO 80660 Business Veda Nacelles Amato Inc. -- - Says ear MIS Deece41ur PT LI ILK I VWA5 WADES&IMCELLA CAMPUS FG el'MT PT LYING=OF SEC 29 s10Wlene Swaim WADES VESTAS WADES NACELLE CAMPUS eve iG Moak Lot Tract Salon Township Ri ge 1 1 2g 01 86 Laud YakrdoM tlluerwry Abet Some Unit of NaMkar Yfl Actual Mont Aursad Lewd Type Air Cab Cods Fast Wawua Of Midge Per UM Vats bong Vies Industrial 3115 2,865,095 Square Feet 2865085 5200 $5,730,170.00 0.20 $1,861,750 Land BMthlotd: 7116116 =6,710,110.00 $1,161,750 Thursday,Juy 21,2011 Page 1 of e COOE_COMM_O10! Page WELD COUNTY ASSESSOR AsooriU:f 778002 PROPERTY PROFILE Rona 147129301002 roars: met 5gIt: NM Sprat Bdhhas VahSMn wry Abel Aaserl Ass•nsd Ergs Properly Type Cob Ooanprity Ana Value Brant Yalue 1 Cernrcial 3215 333-India!HDsvy Marl lbrip $50,030,309 0.29 $17,069,790 2 Csnnacel 3215 183-Got Staler(Gad House)Booths $61,454 0.29 $17,822 3 ConnacSW 3215 1129-Poking Lot'Code $136,682 0.29 $39,638 Improver antsStash $59.128,446 517,147,749 Tail Prepay Vara $64,111p15 $79.$94$99 'Appasinsls Assessed Value Bddba r 1 Condo SF Condo%lad: Cando II Mg: Unit Type: Landscaping$: Properly Type: Commocisl $0.00 Guar: Good tad: 4903 Oconpency: Indust Heavy Men laduSig Code= CM-Typical NSW Bl: 00 Payson: Mid*4: 1 Percent Cap: 100.99% bdildur Bullt As Dell BS As: Indust Mary Wralaflxin Tsar Be 2009 Cerotrtion Type: S Tar RsoodsYd: IBAC: Padua)Unit %LYsroiNsd: Interior Fria: A4 Ter Olt 2009 Roof Carer: Obehe Ape: 1 S*As SF: 9622 Mt Bob: s of Bahl: Tag laiphAVId*M: X it of Bdren: Tag laimarridgc x s of Slaps: 1 la Salina IS: Spry Irlgt t: 13 $Bt Slog Taps: Spbitsr SF: 5773 Dl 494:. M aar Relit ihndr,July 21,2011 Page 2 of 6 CBOE_COMM_01( Page WELD COUNTY ASSESSOR MCCA d s:�� PROPERTY PROFILE pin a 147129001002 tat mans: wan Ea As: Must Hay Manwaauin Ter Be 200a C olon lap: S War Ra odtYd: WAG: Package Unit %IYoodolot WON lldah: MBA Tsar St 2009 Roof Conn: t]laalw M: 1 Ike As SF: 272054 Ilk Yob: s of Barns: Tag LagpIMdgt X II of BMus: Tag Lsng ilUfdl! X s ofinest 1 fB1B**gLF: Stop Night: 52 NH SNnMg Age SOS SF: 222054 MOMS: Cumin: lout BLit As: Office Big Yes Built 2000 Ca$66000n Typ: S Ter Rnaodokok INAC: Package Una %lbaaadalaik gator RSA: M Your St 2009 Hoof Carr: Minn 1 Ball Aa SF: 36500 MN Wks: •01 Bet Tag Lungflwidga X s of&Ins: Tag langrrwlah: X s of Slorbs: 2 Ilk Minn IS: Shay MOO 15 hni Skating lap: SpjJYw SF: 36500 Db1aW: Cspat % HMlyd: O M As: NAlat Hoary Ilan taehsin Tsar Oa 2000 Cooupaogonlype: S TsarrollydaYd: INAC: RaSM %Raooddad: hyada RSA: *4 row St 2000 Roof Caw : ObenM: Bilk As SF: 4755 fah Yob: •of Saint Tag Lalgglfwldlls X s of Bea: Tag LwggSMdtle X •of Striae: 1 Eh Man LF: S tory Hdght: 31 YH SW Wg lap: Sy4idlsr SF: 4755 Uta111alar. Capon Ham: lhuady,July 21,2011 Page 3 of CBOE_COMM_O1C Page WELD COUNTY ASSESSOR Mast a:86778002 PROPERTY PROFILE Pfd a,147129;07002 sale r1 Sas: 1111110 : Bulk As: hide LghIManulerng WrOaib 2009 Ca.nlrmn Tppt S Year Reaaldeled: 1WAC: None %flemoilaa Inhaler nth: M Veer Olt 2009 Roof Car•. Biala Age: 1 Ebb As SF: 083 Ili Nuke s of Rails: Tag LonBAlMldlk X s of Bern: Tag lwlgg lVdlh: X it of Sloris: 1 M Sllrrng LF: Sexy lblgl*: 24 NH Slating lyPP: SPdnhS SF: 983 Dimmer: Capaoiry: WSW Bubble Deny Sidgs: 1 (AS LAS Ikea RCN Actual Vasa MIS Athol Average 120500 $2.25 $271,125.00 $271,125.00 Combo Slab Average 12050 $9-66 $44,344-00 $44,344.00 Vahan Dek RCN CoN S: $211.7 Design 1.4%: o Raw Obe 1k o Ton RC* $56,930,309.00 Fee A4%: 0 Soon Ohs lk 0 Pigs Dpr%: o brarnM 9k 0 Oils Ois Ik 0 Pip Deepr$: o MuSw Add%: 0 ICI(D* $56,030,309.00 RCBA CaapSF $215.14 astSF: $0.00 lhuady,July 21,2011 Page 4 of 6 CBOE_COMM_01( Page WELD COUNTY ASSESSOR Amount if:R5778002 PROPERTY PROFILE pas se 147129301002 want nags: sal sae: Bnidip b. 2 Condo BF Condo%land: Condo%Bldg: lat Typ.. laMaasp6W$: Ropey Typa: Con nada $0.00 OwYr° Good Ibind: 4003 Ooo port':Goff Satar(Guard Hoto)B Congdon: CM-Tyricat its at 00 Parf•airt 86 Ibld A4: 1 Peon Comps 100.00% idrlda/Buff As Lila RJR As: Got Starlor(Guard House) Year Bas 2010 Camnol.n Typo: D Year RonodoYd: WIC: Padova Mit %IYwodalod: Interior Rash: Ai Year Btt 2010 Roof Coast ENaet- Apt: 0 Oa As SF: 453 Eh Maio: •of Salim Tag la11dlaYB6dllt X •of Bans: Tag lolg0 MMI! X s of Soria: 1 Ml SIdnip IS: S ST tight 16 NH!Wing typo: Bpridlar SF: 453 Olds Copoob: MR* Bolding DNS Pain DMals RCNCo*'BF: $130.61 CaalpiAd)%: 0 Raw %: 0 US RCN $61,464.00 EaSfarAIN96: 0 Eton Ott% 0 PhApPr%: 0 Islas A4%: 0 Ode OS 0 Plls Dar f: 0 Alt L_Aq%: 0 RCNLDR $61.464.00 RCIILDCosWSF $135.66 IiriaJBF: $0.00 Thaaday.Ju r 21.2011 Dago 5 of 6 CBOE_COMM_010 Page WELD COUNTY ASSESSOR AOOOwO9:R67raom PROPERTY PROFILE peed c147129001002 unit lal son: wisps: BIIWYg a: 3 Cando BF Condo%lard: Condo%Bldg: tbdt Wpm ladsespi g$: Propels Type: Conmwcial $0.00 Cs: 4003 Oosrprr y: Padup Lotted° CadMce: land Eat: 00 Pwiwarr. Ield A4: 1 Pansnt Caen 100.00% Inirkluei Bulk As Dew BIM As: Padeng Lot'Code Tsar Bull: 2010 Calst eda-Type: Ton Rensd•led: IMAC: None %Remodels& bdmiw Rik: Aq Tsar Mb RoutCoeer Mode,Aga: 0 BlikAs 8F. 1 Ills leaks: s of Bats Tag LengdeMl4d X e of gins: Tag tangdf Mld.O X sofSwim 1 NAaiklbgLF: Sofa MS: 6 BH saing Type: 8prbdkm BF: Dien ago: Orpeoig': Roii/M: Buldkrg Dews Bldgs: 3 LAS 1101 Price RCN Adnrl Vales Rabid.Spit aDN_F. 100 $87.13 $136.68200 $136$62.0 Vales Dews RCN CwVVBF: $0.00 Cosign Aar%: 0 Fine Oba%: 0 Toni RCM $136,ee200 EsnorAlq%: 0 Es=OM 1k 0 Pbp Day%: 0 honor A4% 0 Mho Ono lk 0 PAY,Dar$: 0 Amain Aq%: 0 RCNID$: $136,68200 RCIILD CO*$F $136.082.00 tidsIBF: $0.00 Tdasiy.Jun 21.2011 Pagan 016 CBOE_COMM_O1f Page • • .5(.. ,30 7/� • NOTICE OF DETERMINATION • • Christopher M. Woodruff I Date of Notice: 6/22/2011 Weld County Assessor _ .;:telephone: (970) 353-3845 or (720) 652-4255 • 1400 N 17th Ave Fax: (970) 304-6433 • Greeley, CO 80631 c'� 18 A II: Qlynail: appeals@co.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM 5:00 PM • � I[w +< in� r r Ir rg LEGA LDESGR O • ;$C1EDtJi#El17 rCO ,t7 4IQ::i 'T7k ; ,.r. '' '1r nPHYSIO`ALLOCATIOON • R5250708 2011 4010 WIN 3GWIP L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG (GREAT • ca' WESTERN 5TH ANNEX) mI VESTAS BLADES AMERICA IN • I 11140 EASTMAN PARK DR 11140 EASTMAN PARK DR,WINDSOR 5 " WINDSOR,CO 80550-3397 • •c • 'cc 4% a,!. • �'i ri"r4,1 '0c t ,n atrr, ;. r R'SY LUATION ,, +mil t r r KF r f % ( r , ( l Aka, ' ' � z �� r , Herr,, P R s t MS 4y., ! r, r O 'a U c • ''''.I.,'''''., HOPE.+Tl el.,,; ?FICATiON.r s ' Afrl'4 AL REY EW' ��R `' ACTuAL YALUE AFTER.. • , ,,,.=.e, tycpoi ri,1,1,�1 , _p�M..�i , .REVIEW i • INDUSTRIAL 81,888,216 81,888,216 • • • • • a TOr ^ ;` I $81,888,216 $81,888,216 • 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 5 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. • RONALD K MARTINDALE i , • 16075 COLEMAN AVE tfi n Aa FORT LUPTON CO 80621 • 100,2, -CI 55 - FPI a- 2011-1776 • xa?i 03o 5 je.,0.e(l r Tan.Cam 0 • • • i14,uN',4!ft� �lrl�w .�O.�;,�, } .a»u�,,'APPEALPROCED,�yp 3..f � n� , . , s dr.:. dp,� � e DORM, ttt x.�, •� b#Mfl. ,u. l, �., .• • County Board of Equalization Hearings will be held from July 1 through August 5 • at 915 10'h 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.uov/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. ,}_ ,i(t'ttu' ? ,NI llifliy iRaTITION';TQ"QQUNTYABOA` II ,OF EQUALIZATION j "a, .. lil t," a.;i; • 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 property pursuant to § 39-8-106(1.5), C.R.S.) • $ lit, Imo f)±O • 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, or anal installed cost, appraisal, etc.) • R( [= L 5CHl= 0L LC NO. RSzS25(-7-(Zs • QLERSL StlE 0--roc-kEk • / i W t p 2(� i Y n :N 3 y# t i �R, �" t ''1 ��S��Ed��lv'�49��.x�E'i-� "? . , ,�d ��{ �v � ,"P�E�T'A'�iltJ� ,� ,k �t�l��t ;�,�S�,sr. I i .i^�,, • I, the undersign .4vner gent] of the property identified above, affirm that the statements contained herein and o ny attach nts hereto are true and complete. 4 402- 9.SS— I�i2 7/i.3/ it ID Signal Telephone Number Date • • • • ' Attach letter of authorization signed by property owner. • • 16220 N Scottsdale Road Innovative Sc 650 ® Scottsdale,Arizona 85254 Innovative Solutions to Taxing Problems. _ Main 602.955.1792 fax 602.955.4892 I 8 :A I'' 3 '-"„ www.ryan.com CERTIFIED MAIL - 71791000164910859273 RETURN RECEIPT REQUESTED July 13, 2011 Weld County Board of Equalization 915 10th St. P.O. Box 758 Greeley, CO 80632 Re: Petitions in regard to Notices of Determination Vestas Blades America, Inc. Parcel Schedule Numbers: R5250708, R6778001, and R6778002 To Whom It May Concern: Enclosed are the petitions and supporting documents for the above-referenced taxpayer and accounts. Thank you for your assistance in this matter. If you have any questions or need any additional information, please contact me at 602.955.1792. Sincerely, Helen Crown Manager HC/JJR Cc: Matthew Stanek • • • • • • • • • • • • • PETITIONS TO • COUNTY BOARD OF EQUALIZATION • WELD COUNTY, COLORADO • • Vestas • • • Parcel Schedule No. R5250708 • BOE Docket No. 2011-1776 • Parcel Schedule No. R6778001 • BOE Docket No. 2011-1777 • Parcel Schedule No. R6778002 • BOE Docket No. 2011-1778 • • • Petitions Dated July 13, 2011 • • Hearing Scheduled Wednesday,July 27, 2011 at 4:30 p.m. • • Presented by: • • Mark LoRusso,CMI Principal • Ryan, LLC • Scottsdale,Arizona • 602.567.0909 mark.lorusso@ryan.com • • This document contains confidential and proprietary information prepared by Ryan,LLC. Any disclosure or distribution of the • contents of these materials without express written consent of Ryan,LLC is strictly prohibited. • CO 2011 Ryan,LLC. All rights reserved. • • • • • • • • TABLE OF CONTENTS • TAB 1 • • Statement of Agency 1 • TAB 2 = Protest Letter to Weld County Assessor, R5250708 2 • Protest Letter to Weld County Assessor, R6778001 and R6778002 4 • TAB 3 • • Weld County Assessor Notices of Determination,Tax Year 2011 6 • TAB 4 • • Petition to the County Board of Equalization for Notice of Decision on R5250708 9 • Petition to the County Board of Equalization for Notice of Decision on R6778001 10 • Petition to the County Board of Equalization for Notice of Decision on R6778002 11 • • ATTACHED INFORMATION IN SUPPORT OF PETITIONS: • • TAB 5 • Summary of 2011 Valuations 12 • • Taxpayer's Central Position 13 • Local Sales Data—Weld County 15 • • National Sales Data 16 • Taxpayer's Requested Value 19 = TAB 6 • Colorado Supreme Court Decision in Colorado Arlberg Club Case 20 • TAB 7 • • Weld County Industrial Building Sales 30 • TAB 8 National Manufacturing Building Sales 48 • Vestas Blades and Nacelles—Weld County,Colorado • July 13,2011 • • • • • • • • • • • • STATEMENT OF AGENCY • •• Vestas Blades America, Inc. • Hereby appoints Ryan, LLC as agent for the purpose of filing real estate and personal property • statements, renditions, returns and/or assessment appeals, applications or petitions for review of valuation • with all counties, appraisal districts and/or Assessment Appeal Boards, Boards of Review, or Boards of Equalization, appearing on our behalf before said Boards, examining any records, and discussing with the • appropriate governmental authority the assessment of the property located at the following address: e D • All real property located in Weld County, Colorado,with principal addresses of: 1140 Eastman Park Drive,Windsor • 1500 East Crown Prince Boulevard,Brighton • • This property being owned by the undersigned incorporated in the State of Colorado. This agency shall remain in effect for the 2011 and 2012 assessment years. • • • � GRiCt4 , Ire • Name of Taxpayer • • Signature /1') Ar,kin tnl S i A AI E • / • tic I/J/;rf r 661x4 Im ce„H • Title • 5-- -7S- 2vil • Date • 20 (i • Subscribed and sworn to before me this Z.S day of /�S • Notary Public _ +o Vitt. • l' State ofCo t o✓ ;Pg l : • ' • County of Akio( • My commission expires /l —01 • , 20 13 I i`•,h ate l • P OFtG'_ • • • • • • • • 16220 N Scottsdale Road • an/� Su ite 650 ® Scottsdale,Arizona 85254 • Innovative Sohations Maio 602.955.1792 to razing Problems • Fax 602.955.4892 • wvew.ryan.com • • Christopher M. Woodruff Certified Mail 71791000164910469175 • Weld County Assessor's Office • 1400 N 17th Ave. • Greeley, CO 80631 Re: Objection to and Protest of Assessor's Actual Value Per § 39-5-122(2) C.R.S. • 2011 Real Property Notice of Valuation • Vestas Blades America, Inc. Parcel Schedule Number: R5250708 • • Dear Mr. Woodruff: • This letter is our written objection and protest of the 2011 Real Property Valuation for Vestas • Blades America, Inc. Please be advised that Ryan, LLC is the duly authorized agent for the • taxpayer in this matter(see enclosed Statement of Agency) and we request that all • correspondence and/or telephone communication be directed to: • Vestas Blades America, Inc. • do Ryan, LLC . 16220 N Scottsdale Road • Suite 650 • Scottsdale, AZ 85254 • 602.955.1792 • The property is located at 11140 Eastman Park Dr., Windsor, CO. The summary below • quantifies the amount of the objection. • Parcel Schedule No. Assessor's Actual Value Taxpayer's Requested Value • R5250708 $81,888,216 $40,000,000 • • The basis for our objection and protest is that the proposed 2011 Actual Value greatly overstates • the property's market value. Our analysis of market sales for large, heavy industrial facilities indicates a much lower value is applicable. • • We would appreciate the opportunity to discuss the valuation of this property with the Weld • County appraisal staff at your earliest convenience. At this time, we would be happy to share the data and analysis used to support the Taxpayer's Requested Value above. • • • • • • • Mr. Woodruff • May 26,2011 • Pg. 2 • • • Thank you for your co deration, • Mar oRuss Helen Crown Principal Manager • • • Enclosures: Statement of Agency • JJR • cc: Matthew Stanek ID • • • • • • • • • • • • • • • • • • • • • • • (it a CLERK TO THE BOARD PHONE (970) 336-7215 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.co.weld.co.us ' 915 10TH STREET P.O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 21, 2011 VESTAS BLADES AMERICA IN 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 Parcel No.: 080725202001 Account No.: R5250708 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 27, 2011, at or about the hour of 4:30 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, First Floor Hearing Room, 915 10th 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, 2011, and mailed to you on or before August 12, 2011. 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. 2011-1776 AS0079 VESTAS BLADES AMERICA IN - R5250708 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 RYAN LLC STE 650 16220 N SCOTTSDALE RD SCOTTSDALE, AZ 85254 2011-1776 AS0079 41.14 ! 00 N } / GJ / 0 co) 0 in 0. / \ \ \ 0 / ; 2 'n , , / \ / \ � P �_ / ( / / 0 / w i ] N LO Al \ § \ o / ; 00 00 69 EA GA Z % / , , , i ) ° \ § - }C [ 00 00 0 94 ` ; A ; 0 = \ / ; No 0 0 Orm �rrn � � f 4 ) \ \ 00 / ) / ) \ \ k \ \ \ gn-L \ 0 10" \ , ' \ ` ! ! ! 0. ) C 0 ! \ 0j \ 0 0 ) \ ) ) G / / \ 0 s ) \ \ \ \ Z \ 2 & ADDITIONAL INFORMATION IN SUPPORT OF PETITIONS TO COUNTY BOARD OF EQUALIZATION WELD COUNTY, COLORADO Vestas Parcel Schedule No. R5250708 BOE Docket No. 2011-1776 Parcel Schedule No. R6778001 BOE Docket No. 2011-1777 Parcel Schedule No. R6778002 BOE Docket No. 2011-1778 Petitions Dated July 13, 2011 Hearing Scheduled Wednesday, July 27, 2011 at 4:00 p.m. Presented by: Mark LoRusso, CMI Principal Ryan, LLC Scottsdale, Arizona �*^ <! 602.567.0909 mark.lorusso@ryan.com aer This document contains confidential and proprietary information prepared by Ryan,LLC. Any disclosure or distribution of the contents of these materials without express written consent of Ryan,LLC is strictly prohibited. ©2011 Ryan,LLC. All rights reserved. Information in Support of Petitions to the Weld County Board of Equalization,Colorado Notices of Determination of the Weld County Assessor,Dated June 22,2011 Vestas Blades America,Inc., 11140 Eastman Park Dr,Windsor,Colorado Vestas Blades America,Inc., 1500 E.Crown Prince Blvd B and N,Brighton Colorado Parcel Schedule Numbers: R5250708,R6778001, and R6778002 2011 Tax Year Real Property The Brighton construction costs are summarized in the table below. The site development costs were tracked separately. To spread the cost over the two facilities, a simple square footage allocation was made. The Blades facility is 65%and the Nacelles facility is 35%. Vestas—Brighton Construction Cost Summary Buildings Site(allocated) Total Bldg. SF Price/SF Blades $ 100,201,592 $ 14,787,770 $ 114,989,362 506,691 $ 226.94 Nacelles $ 26,337,874 $ 7,962,646 $ 34,300,520 273,914 $ 125.22 $ 126,539,466 $ 22,750,416 $ 149,289,882 There is a huge differential in building cost per square foot between the two facilities. The Blades facility is about $100 per SF higher than the Nacelles facility. The reasons for this difference explain why actual construction cost is not an appropriate basis for determining value. Of course there are some physical characteristics in the Blades facility that would cause it to have a somewhat higher cost per SF. The special flooring to accommodate specific machinery and the hefty footings to accommodate the large clear span are notable. But the main reason for the large cost differential is explained as follows: Bid Conditions The Blades facility was priced with only one general contractor via a Guaranteed Maximum Price (GMP) contract. In the construction industry, this arrangement is also known as an open-book contract, and it is very common when the building specifications are incomplete and fast-tracking is desired. Construction takes place in phases so drawings can be completed in progressive building phases. The Blades facility had a general design but not a complete set of drawings. So there was great uncertainty on the part of the contractor. A GMP contract results in large premiums being paid as the contractor bids up the maximum price as high as can be negotiated to account for any unforeseen costs. The fast-track nature of the project, the lack of a competitive bid, and the uncertainty of the final design all contributed to excessive construction costs which do not add value to the property. This would not be considered representative of normal"market"conditions. In contrast to the Blades facility,the Nacelles facility was put out to a competitive bid with a complete set of drawings. There was far more certainty with the Nacelles facility since the design and specifications had already been decided. Vestas took bids from eight general contractors, all acting on the same Vestas—Weld County,Colorado Page 1 RYQN I information in a highly competitive environment. The bid conditions were much more representative of "market"construction costs. Bid Timeline and Market Dynamics—Steel and Concrete Commodity Prices The timing of the contracts had a very material impact on the actual construction costs. During 2008 there was a significant run up in construction costs, primarily due to the "bubble" in steel commodity prices and somewhat due to higher concrete prices. In the fall of 2008, when the Blades facility contract was negotiated,the price of structural steel had surged from$850/ton to $1,250/ton...a 50%run-up in the price in about 8 months. The Vestas facilities are comprised of engineered steel buildings with metal roofs, structural steel columns, frame&joists,plus rebar in the floor slabs. There is an enormous amount of steel in the buildings, and the bid timing for the Blades facility at the height of the market for steel commodity pricing drove up the cost considerably. Only a few short months after the Blades facility went to contract, the price of structural steel dropped from its "bubble" price of $1,250/ton to $775/ton during 2009. The Nacelles facility went to a competitive bid in the spring of 2009 when steel prices had fallen back to their early 2007 levels. The combination of lower steel prices and a competitive bid resulted in a construction cost per SF that was significantly lower than the Blades facility. By mid 2010, structural steel prices had returned to their pre-bubble level of about $800 to $850 per ton. Please see associated charts of steel price indices illustrating the dramatic rise and fall during the bid timelines. The first chart is for U.S. structural steel (W18 x 35) and the second chart is a worldwide composite price index blending multiple grades of steel. Similarly but much less dramatically, The Producer Price Index shows that construction concrete rose steadily during 2008 and fell back during 2009 and 2010. Blades Facility Redesign Another contributing factor to the excessive cost of the Blades facility is the redesign that took place after completing the first phase of construction. The original design was for a production floor accommodating a 6-line V90 (+/-44 meter blade) configuration. But this was changed to a 4-line V112 (+/- 55 meter blade). In the process, the production floor areas for the spar and shell segments were flipped around. This added cost for demolition and relocation of sections of an already complete structure. Concrete floors were demolished and removed then re-poured with the correct machinery footings in place. Sections of wall and steel columns had to be removed and re-installed, etc. The Nacelles facility construction cost is much more representative of market-based costs under normal conditions. The Blades facility cost must be disregarded entirely because it lacks the elements consistent with a market-based transaction. Even so, the use of actual cost or replacement cost in the valuation of the Vestas properties must also take into account market conditions as of June 30, 2010. We request that a market test from actual sales data be applied to the value indication from Weld County's cost approach. At minimum, if the cost approach is used some level of external obsolescence should be applied to the RCNLD to account for the following items: • The cost approach does not capture the imbalance of supply and demand in a down market and overstates property value unless a market adjustment factor is applied • The unique design, layout, and features of the Vcstas facilities make them limited market properties with a small pool of potential buyers. These are not investment-grade properties with resale in mind and they would sell for much less than replacement cost,even in a strong market. Vestas—Weld County,Colorado Page 2 RYa�/N , • The upper end of selling prices for heavy industrial properties is $80 to$100 per SF, and there are quite a few recent transactions that are well below the upper end of this range. The valuation standard in Colorado is Actual Value and this term is synonymous with Market Value. Colorado statutes and long-standing case decisions by the Board of Assessment Appeals have found that this value reflects what a willing buyer would pay a willing seller under normal market conditions. Thus it is appropriate, indeed mandatory, for the county's valuation to reflect the actual market value of the properties. The current proposed 2011 values for Vestas are approximately $200 per SF. By comparison, the six- year old Owens-Illinois facility (660,000 SF)adjacent to Vestas' Windsor plant is valued by the county at only $52 per SF. Also, the two-year old Hexcel plant (100,000 SF) with a 100' + clear span and 44' ceilings is valued at$130 per SF,but sold for only $98 per SF (the 2011 value has been appealed). These are reasonable benchmarks for comparison to Vestas as they are both heavy industrial manufacturing facilities in proximity to Vestas. We recognize the differences in features from these benchmark properties to Vestas,but they do not justify a valuation that is 4X or even 2X the rate per SF. Vestas—Weld County,Colorado Page 3 Ryan , STEEL PRICE INDEX Vestas—Weld County,Colorado Page 4 Ryan 0l-Inf 0 L-Jdv 0 1.-uef 60-10O ('q _ 60-Inf V d i' 60-idv O LL d d (� C 60-uef et t N 8010O V � - 7 to 0I v 90-Inf L a O 1.7. _ 80-idV tvo 13 N C y t0` so-uer _ L0-40O Cl) W LO-Inf 2 LO- dV rn 0 0 N LO-uef N J m J Q 90-10O N m U N li 90-Iar 0 w 90-id, 90-uef 0 0 0 0 0 0 0 0 0 N 0 o 0 m n o coo n v Vestas—Weld County,Colorado /� Page 5 Ryan , STEEL PRICE TRACKING Vestas—Weld County,Colorado Page 6 Ryan I ) L. _ . : l it I r I - -s ,.• r . 4 • - • C • • i O U • a • co X . co • • . ..„,,,,,,(t. • T a 1 - t e f 4 • t Q Q Q Q Q Q O C) Q O Q Q Q Q ' Q O Q Q Q Q Q C7 0 0 0 Q Q Q d Cr) CV 1- Q 0..) CC) f` (.0 In CO N N— r- = 4- Ef3 b4 4{} b9 bR Eft Efl ER VICO 6,3 ER b9 b9 Vestas—Weld County,Colorado Page 7Qr■y� , BOE SUMMARY SHEET Account Number: R5250708 Parcel Number: 080725202001 VESTAS BLADES AMERICA IN 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 HEARING DATE: 7/27/2011, AT 4:30:00 PM Q /�j��- HEARING ATTENDED? I9 N) NAME: / ,/,) l?C5;2„7./A -- G� AGENT NAME: VVVVVV RYAN LLC STE 650 16220 N SCOTTSDALE RD SCOTTSDALE,� AZ 85254 APPRAISER NAME: WJM Wade' 'V DECISION ACTUAL VALUATION APPROVE BY SET BY ASSESSOR BOARD TOTAL ACTUAL VALUE ie,$88`1R16 ' see Jog i7 / / COMMENTS: ///I �/ MOTION BY Iva TO ay, SECONDED BY 1g Kirk'i«y..r ( N) Conway -- N) Failed to prove appropriate value Garcia -- /N) No comparables given ) Assessor's value upheld Rademacher-- /N) Other: RESOLUTION NO. 2011-1776 M:\BOE\SUMMARY.dotx Hello