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Home My WebLink About20112140 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. BOX P. O. BOX 758 GREELEY, COLORADO 80632 COLORADO August 3, 2011 MCW-RC CO-GREELEY LLC PO BOX 9271 OAK BROOK, IL 60523 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R2133403 PARCEL#: 095914308008 - GR CP L8 CENTERPLACE Dear Petitioner: On July 29, 2011,the Board of County Commissioners of Weld County, Colorado, convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered your request for an Administrative Denial of your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $18,927,250 $18,927,250 CL� , "'1�4> r) 5-3-070// 20AS2140 MCW-RC CO-GREELEY LLC - R2133403 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 2011-2140 AS0079 MCW-RC CO-GREELEY LLC - R2133403 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 STRATOS GROUP 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD CO 80112 2011-2140 AS0079 NOTICE OF DETERMINATION Christopher M. Woodruff ziDelte.of Notice: 6/22/2011 Weld County Assessor Tetdpi'1one: (970) 353-3845 or (720) 652-4255 1400 N 17th Ave „ Fax: (970) 304-6433 Greeley, CO 80631 ', I $ **jail!Sappeals@co.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAW 4 TAl(IA*ix E icry J LEGAL DESCRIPTION/ PHYSICAL LOCATION R2133403 2011 0683 GR CP L8 CENTERPLACE 4548 CENTERPLACE DR,GREELEY cc Z MCW-RC CO-GREELEY LLC PO BOX 9271 y OAK BROOK, IL 60523 cc f- W a 0 R a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 18,927,250 18,927,250 TOTAL $18,927,250 $18,927,250 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: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. 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. STRATOS GROUP 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD CO 80112 2011-2140 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10th Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 915 101h Street, P.O. Box 758 Greeley, CO 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property— after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9th Avenue and 9th Street Denver, CO 80203 P.O. Box C (303) 866-5880 Greeley, Colorado 80632 www.dola.colorado.gov/baa (970) 356-4000 Ext. 4520 Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. if the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2010? our opinion of value in terms of a specific dollar amount is required for real prroperrty pa to toO9-8- 98- (1.5), C.R.S.) What is the basis for your estimate of value oryour reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) ATTESTATION I, the t.rh er igned owner r agent' of the property identified above, affirm that the statements contained hereia n n any att ents hereto are true and complete. Y /Iii j� `f/ %J Wif re Telephone Number Date 44 2 ' Attach letter of authorization signed by property owner. The Stratos Group 383 Inverness Parkway Suite 300 Englewood, CO 80112 Phone: (303)224-9940 Cell:(303)641-3476 Fax: (303)813-1122 July 14, 2011 Weld County Board of Equalization 915 10`" St PO BOX 758 Greeley, CO 80632 RE: Parcel ID No. R2133403 To Whom It May Concern: Attached is the Assessor denial for the subject property. The 2011 proposed value is $18,927,250. Attached is a Certificate of Agency. Subject property is a retail center containing 151,418 sqft built in 2003. A detailed report is being prepared and will be supplied to the Assessor upon completion. We respectfully request subject value be reduced to $13,627,600 for 2011 which would then reflect the distressed nature of this property. Thank you in advance for your help and consideration. Sincerely, Li :H/J--/4/ ' Stan Wagner / (/ Appointment of Agent Mr.Stan Wagner of the Stratos Group is authorized to represent MCW-RC CO-GREELEY LLC in property tax valuation matters for tax years 2011-2012 . Please contact Mr.Stan Wagner regarding all property tax issues. The property is indicated below: Centerpiece of Greeley 4632 Centerpiece Dr and 4500 Centerpiece Dr Greeley,CO Parcels: R2133403 Agent: Mr.Stan Wagner, The Stratos Group, 383 Inverness Parkway,Englewood,CO 80112 303-224- 9940 Signature Lori Ann Ogolini, as agent Authorized Agent Printed Name Printed Title Investors Property Tax Services, Inc. 630-218-8000 Company Phone Number State of 1\� y1ts1 S County of ..1%SV YQ . The foregoing instrument was acknowledged before me on the a 1 day of—nat 20JL• By LOCI si$ y'a�' WITNESS my hand and official seal: Illv `) 4_1ii l My commission expires r- , ti Notary Public OFFICIAL SEAL LORI LEIPIEIT NOTARY "ems Identify Results Page 1 of 3 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R2133403 Parcel#: 095914308008 Tax Area: 0683 Bordering County: Acres: 17.1 Township Range Section Quart.Sec. Subdivison Name Block# Lot# 05 -66- 14- 3 CENTERPLACE - - 8 Owners Name&Address: Property Address: MCW-RC CO-GREELEY LLC Street:4548 CENTERPLACE DR GREELEY CIO PROPERTY TAX DEPARTMENT City: GREELEY PO BOX 790830 SAN ANTONIO,TX 78279-0830 Business/Complex: SAFEWAY/ WASHINGTON MUTUAL/ ROSS/ FAMOUS FO(OBJECT Sales Summary Sale Date Sale Price Deed Type Reception# 10/4/2002 $5,549,800 TRU 3015395 Legal Description GR CP LS CENTERPLACE Land Valuation Summary Land Type Abst Code Unit of Number of Actual Value Assessed Measure Units Value Commercial 2112 Square Feet 744686 Land Subtotal: 744686 $3,723,430 $1,079,790 Buildings Valuation Summary Assessed Bldg# Property Type Actual Value Value 1 Commercial 2 Commercial 3 Commercial Improvements Subtotal: $15,203,820 $4,409,110 Total Property Value $18,927,250 $5,488,900 Building Details Account#: R2133403 Parcel#:095914308008 Owners Name&Address: Property Address: MCW-RC CO-GREELEY LLC Street:4548 CENTERPLACE DR GREELEY C/O PROPERTY TAX DEPARTMENT City: GREELEY PO BOX 790830 SAN ANTONIO,TX 78279-0830 Building* Property Type 1 Commercial http://maps2.merrick.com/Website/Weld/setSgl.asp?cmd=QUERY&DET=PP&pin=09591.. 5/12/2011 Identify Results Page 2 of 3 Individual Built As Detail Built As: Retail Store Year Built: 2003 Exterior: HVAC: Package Unit Interior Finish: Built As SQ Ft: 14820 #of Baths: 0 Roof Type: Flat #of Bdrms: 0 Roof Cover: #of Stories: 1 Rooms: 0 Units: 0 Garage: Attached SQ Ft: Detached SQ Ft: Basement: Total SQ Ft: Finished SQ Ft: Account#: R2133403 Parcel#:095914308008 Owners Name&Address: Property Address: MCW-RC CO-GREELEY LLC Street:4548 CENTERPLACE DR GREELEY C/O PROPERTY TAX DEPARTMENT City: GREELEY PO BOX 790830 SAN ANTONIO,TX 78279-0830 Building# Property Type 2 Commercial Individual Built As Detail Built As: Retail Store Year Built: 2003 Exterior: HVAC: Package Unit Interior Finish: Built As SQ Ft: 89515 #of Baths: 0 Roof Type: Flat #of Bdrms: 0 Roof Cover: #of Stories: 1 Rooms: 0 Units: 0 Garage: Attached SQ Ft: Detached SQ Ft: Basement: Total SQ Ft: Finished SQ Ft: Account#: R2133403 Parcel#: 095914308008 Owners Name&Address: Property Address: MCW-RC CO-GREELEY LLC Street:4548 CENTERPLACE DR GREELEY C/O PROPERTY TAX DEPARTMENT City:GREELEY PO BOX 790830 SAN ANTONIO,TX 78279-0830 Building* Property Type 3 Commercial Individual Built As Detail Built As: Retail Store Year Built: 2003 Exterior: HVAC: Package Unit Interior Finish: Built As SQ Ft: 47083 #of Baths: 0 Roof Type: Flat #of Bdrms: 0 Roof Cover: #of Stories: 1 Rooms: 0 Units: 0 Garage: Attached SQ Ft: Detached SQ Ft: http://maps2.merrick.com/Website/Weld/setSgl.asp?cmd=QUERY&DET=PP&pin=09591... 5/12/2011 Identify Results Page 3 of 3 Basement: Total SQ Ft Finished SQ Ft: 1I rt R.a i33u©3 vrb�cw-Rc. Co-G JLLt http://maps2.merrick.com/W ebsite/We1d/setSgl.asp?cmd=QUERY&DET=PP&pin=09591... 5/12/2011 Hello