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Home My WebLink About20110737.tiff RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES - MARKET SQUARE, LLC WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, at a duly and lawfully called regular meeting held on the 21st day of March, 2011, at which meeting there were present the following members: Chair Barbara Kirkmeyer, and Commissioners Sean P. Conway, William F. Garcia, David E. Long, and Douglas Rademacher, and WHEREAS, notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being present, and taxpayer Market Square, LLC, not being present, and WHEREAS, the Board of County Commissioners has carefully considered the attached petition, and is fully advised in relation thereto. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board concurs with the recommendation of the Assessor and the petition be and hereby is, denied, and an abatement or refund be denied as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2008 CC- • ASR, Pt+ U 7 I1 2011-0737 AS0078 TAX ABATEMENT PETITION - MARKET SQUARE, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 21st day of March, A.D., 2011. BOARD OF COUNTY COMMISSIONERS W D COUNTY, CO ORADO ATTEST: ' � �� '� tr; V =arbara Kirkmey- , Chair Weld County Clerk to tha :b= ? m.0 'iv 1 I',. W 4 Sean P Co ay, Pro-Tem BY: I ._. .� �A>47�=ni � I Deputy Clerk to the Board Willi. . F. .arcia AP ORM: (IA FCD( David E. Long ---7 my Attorney v 4 (.��e • o-G�r—• /� / Douglasademachtr Date of signature: //0/ /I 2011-0737 AS0078 ) r, I tv PETITION FOR ABATEMENT OR REFUND OFTAX g .I_t-..) County: Weld Qat� � oonus' 92' f of Ibse sdoy D „aammpp) Section I: Petitioner,please complete Section I only. Date: December O.(- 2010 Month Day Year Petitioner's Name: Market Square LLC DEC 2 9 2010 Petitioner's Mailing Address: 4949 N Broadway No. 105 WELD COUNTY ASSESS( Boulder CO 80304 GREELEY, COLORADC City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDESS OR LEGAL DESCRIPTION OF PROPERTY R4957'1UR /095911117007 1570 West 10th St Petitioner states that the taxes assessed against the above property for property tax year(s) 2008 and are incorrect for the following reasons:(Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) Petitioner's estimate of value: s 3,500,000 ( 2008 ) s ( ) Value Year Petitioner requests an abatement or refund of the appropriate taxes. I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been prepared or examined by me,and to the best of my knowledge,information and belief,is true,correct,and complete. �7 / Daytime Phone Number( ) no, r'a Si to /�¢9-�— 16a1 C/r ! _ Daytime Phone Number( 303 ) 347-1878 gent's Sig I ture' 'Letter of agency must attached when petition is submitted by an agent. If the board of coon commissioners,pursuant to section 39-10-1:4(1),or the property tax administrator,pursuant to section 39-2-I lb,denies the petition for refund or abatement of taxes in whole or in part,the petitioner may appeal to the board of assessment appeals pursuant to the provisions of section 39-3.125 within thirty days of the entry of any such decision,39-10-114 5(1),C RS Section II: Assessor's Recommendation (For Assessor's Use Only) ( 75;2.0) Tax year ZOO Tax year Actual Asseased To Anua1 A:sensed original Ili ib4$C1yg $()364010 *jo7y55-744 Original Corrected* Vvttt1WX $ 1,3L2,00 #1,°45 7'corrected .Abate/Refund 0 .0 0 abate/Refund - 'Ii Assessor recommends approval as outlined above. No protest was filed for the year(S). (If a protest was filed,please attach a copy of The NOD) �- l Assessor recommends denial for the following reason(s) �ft-c., 64t""'k LLGIaf Assessor's or Deputy Asse or's Signature 2011-0737 0© Stevens & Associates RSpecialists in: Property Tax Reductions Utility Bill Auditing December 29, 2010 Weld County Assessors Office 1400 N. 17th Avenue Greeley, CO 80631 To Whom It May Concern: Please find enclosed the following Abatement Petitions for filing to the Weld County Board of Equalization: Market Square LLC 3820 West 10th Street Schedule Number: R4952308 / 095911137002 Sincerely, Todd J. Stevens President - Enclosure t.SGur '4£jcpe1-' - 2.P»/7.D) co (Zack°e 43/20 11) N 60 pc& Er i c3pct z/&r rek DEC 2 9 2010 WELD COUNTY ASSES: GREELEY, COLORAD Stevens &Associates Cost Reduction Specialists, Inc. 9800 Mt. Pyramid Court, Suite 220, Englewood, Colorado 80112 (303) 347-1878•fax(303) 347-9242 07/00/2009 04:45 3034445745 EMERALD MANAGEMENT PAGE 01 Property Tax Consultant-Agency Agreement Owner Address:4949 North Broadway, Suite 105,Boulder,dO80304 Property Address/Legal Description/Schedule ft.See Attached exhibit A Consultant/Agent:Stevens&Associates Cost Reduction Specialists,Inc. IIWe Sunrise Partners ISO, Market Square LLC,Buckley Center LLC,subsidiaries,parent companies and all affiliated companies agree with Stevens&Associates Cost Reduction Specialists,Inc.that for the property tax assessment years 2009,2010 and prior years,in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2009,2010 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists, Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists,Inc es agent of the undersigned,in the name of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersand prig years,ned, before either the and all nts Board of review as we an ll as the SSttate Taxi id Review Board or any hearingnts,for the assessment s pertineears in nuestion t to the property. Thus clone and executed on this._.Lr' day of July 2009. Agreed: By. Nader Ohadimi Title:Managing Member STATE OF C ct ,ra. "0 The fo j.going lnstr mq%twsa adcnwledged before ma} This x day 0f, l/.//i/ O Please Direct all correspondence/refunds to: By Nader Ghadiml Stevens&Associates I Inc. 840 Plaza Dr.,Suite 290 Witness my hand and official seal. Littleton,Colorado 80129 my commission expires: 00.P 69/20./Q (1)(4O11/tit , .C Notary Notary Signature 14: ticessow sc NOTARY PUBLIC STATEOFOOLOnA00 MY COMMISSION EXPraF. 07/0B/2009 04:45 3034445745 EMERALD MANAGEMENT PAGE 04 Exhibit A Market Square LLC 3820 W 1r St Weld County Parcel/Account# 095911137002/R4952308 Near cat Sau a t_a lL C 3840 W 1r St Weld County Parcel/Account# 095911124018/R0034492 Sunrise Partners LLC 9701 Washington St Adams County Parcel f Account# 0171922402001 /R0051177 Buckley Center LLC 4343 S Buckley Rd Arapahoe County Parcel/Account# 2073-08.1-27-003/2488780 Buckley Center LLC 4333 S Buckley Rd Arapahoe County Parcel/Account# 2073-08.1-27.002/2488751 LIMITED SUMMARY CONSULTING ASSIGNMENT OF Market Square LLC Neighborhood Center 3820 West 10th St Greeley, Colorado PREPARED BY Stevens & Associates/Inc. DATE OF VALUE JANUARY 1, 2008 BASE PERIOD ENDING JUNE 30, 2006 DATE OF REPORT DECEMBER 30, 2010 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Property Location 3820 W 10th St Greeley, CO Parcel ID # 095911137002 Schedule # R4952308 Land Size 182,952 Square Feet or 4.2 Acres Improvement Size 37,983 Gross Square Feet YOC 1987 Highest And Best Use For ad valorem tax purposes in Colorado the highest and best use of the subject is its current use. Cost Approach N/A Sales Comparison Approach N/A Income Approach $3,539,684 Reconciliation $3,500,000 Date of Value January 1, 2008 • INCOME AND EXPENSE ANALYSIS NET SQUARE FOOTAGE 37,983 RENTABLE SQUARE FOOTAGE 37,983 GENERAL RETAIL $14.00 $531,762 CAM $8.00 $303,864 TOTAL $835,626 VACANCYALLOWANCE(OF ANNUAL GROSS) 20% $167,125 ANNUAL EFFECTIVE GROSS REVENUE $668,501 MANAGEMENT FEE 5% $33,425 TOTAL $635,076 CAM(LESS PROPERTY TAXES $193,439 OPERATING, MAINTENANCE, & RESERVES 10% $63,508 TOTAL EXPENSES $256,947 ANNUAL NET INCOME $378,129 TOTAL CAPITALIZATION RATE 10.68% CAPITALIZED VALUE OF PROPERTY $3,539,684 INCOME APPROACH LEASE COMPS LEASE NUMBER SUBJECT PROP TYPE RETAIL ADDRESS 3820 W 10th St LEASE DATE Jun-06 BASE RENT $13.95 BASIS NNN LEASED SF 1,300 RENTABLE SF 23,221 CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 4226 FAX: (970) 352-0242 1 8 6 1 - 2 0 1 I 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 WEL -COUNTY I February 25, 2011 MARKET SQUARE LLC 4949 N BROADWAY#105 BOULDER CO 80304 RE: SCHEDULE NUMBER: R4952308 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 3820 W 10th Street, Greeley. The meeting is scheduled for March 21, 2011, at 9:00 a.m., in the First Floor Meeting Room, Weld County Centennial Center, 915 10th Street, Greeley, Colorado. The Assessor is recommending that the Board deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, especially if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearing. If you have any questions concerning this matter, please do not hesitate to contact me at(970) 336- 7215, Extension 4226. Sincerely, • �ytA,ah,. ly LJ Tonya Disney Deputy Clerk to the Board \-\Ltiw 6„ fir. cc: Assessor s 4 v\-3io Lr,c. Stevens &Associates, Inc. `is'co 0H- Pti ry J Cr, 5k LI') 640 Plaza Dr Ste 290 frjleux,(1 , CA- swiL Littleton CO 80129 CLERK TO THE BOARD PHONE: (970) 336-7215, Ext. 4225 FM: (970) 352-0242 I 8 6 1 - 2 0 1 ) 915 10TH STREET TI P.O. BOX 758 . GREELEY, COLORADO 80632 WELD -COUNTY April 7, 2011 MARKET SQUARE LLC 4949 N BROADWAY NO 105 BOULDER CO 80304 RE: SCHEDULE NUMBER R4952308 Dear Property Owner: On March 21, 2011, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index.htm Very truly yours, CtlAdt, Tonya Disney Deputy Clerk to the Board cc: Assessor STEVENS & ASSOCIATES INC 9800 MT. PYRAMID CT, STE 220 ENGLEWOOD CO 80112 Hello