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Home My WebLink About20100978.tiff RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES - HOLLAND REAL ESTATE, 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 10th day of May, 2010, at which meeting there were present the following members: Chair Douglas Rademacher, and Commissioners Sean P. Conway and William F. Garcia,with Commissioners Barbara Kirkmeyer and David E. Long being excused, 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 Holland Real Estate, 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 allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2007 $0.00 $0.00 2008 CL.. " 2010-0978 AS0075 TAX ABATEMENT PETITION - HOLLAND REAL ESTATE, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 10th day of May A.D., 2010. BOARD OF COUNTY COMMISSIONERS ♦ WELD COUNTY OLORADO ATTEST: /f� . . • � • �'C ll1•r�o'er �g6ougl" Radema er, Chair Weld County Clerk to the , ,al XCUSED arbara Kirkmeyer, Pro-Tem BY: Deputy Clerk e Board W♦ L_ Sean P. Conway APPRO AST • a�� William F. Garcia County Attorney EXCUSED David E. Long Date of signature: /O 2010-0978 AS0075 PETITION FOR ABATEMENT OR REFUND OF TAXES Q Q7 1 a County:WELD Date ReceivedC (Use Assessor's or Commissioners'Date Stamp) Section I: Petitioner,please complete Section I only. Date: November 18 2009 y� µ Month Day Year ■ t ?} Petitioners Name: HOLLAND REAL ESTATE LLC E7149�*}BC6p Petitioner's Mailing Address:1515 N ACADEMY BLVD STE 400 NOV 2 0 2009 COLO SPRINGS CO 80909 WELD COUNTY c �-! City or Town State Zip Code y VELD COUNTY ASS:.SSOR GREELEY, COLORADO SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R0230295 p 3035 23 AV GREELEY C Petitioner states that the taxes assessed against the above property for property tax year(s) 2007 and 2008 are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) USING SALES COMPS WE SHOW A SIGNIFICANTLY LOWER VALUE Petitioner's estimate of value: $484,165 (2007 )and $484,165 ( 2008 ) Value Year Value Year Petitioner requests an abatement or refund of the appropriate taxes, I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been prepared or examined by me,and to the best of my knowledge,information and belief,is true,correct,and complete. Daytime Phone Number 1 Petitio nature By i[( Daytime Phone Numberf,-y/ ) J'SF / gent's Signature' 'Letter of agency must be attached when petition is submitted by an agent. If the board of county commissioners,pursuant to section 39-10-114(1),or the property tax administrator, pursuant to section 39-2-116,denies the petition for refund or abatement of taxes in whole or in part,the petitioner may appeal to the board of assessment appeals pursuant to the provisions of section 39-2-125 within thirty days of the entry of any such decision,§39-10-114.5(1),C.R.S. Section u(75. S-eI ' Assessor's Recommendation ( 75 Zi,l ) (For Assessor's Use Only) Tax Year Tax Year Zt617 Actual Assessed 'flax j2 Actual Assessed Tax Original I 051 e 360 306 3 t, 23,)'b' I)bs- 34,0 3OL,34b 23)O52 corrected O5L3 6O 30,6;;39(0 L3,148Z IAA_30 3C b$( ,39L 23,,b1" Abate/Refund 0 -V is ❑Assessor recommends approval as outlined above. _1•15protest was filed for the year(s): or (If a protest was filed,please attach a copy of the NOD.) Assessor recommends denial for the following reason(s): a X sesor 'tit)/A3sesso�sign 15-DPT-AR No.920-66/06 2010-0978 /'�rr FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section III or Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39-10-114 shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor,as appropriate,within six months of the date of filing such petition.§39-1-113(17),C.R.$ Section III: Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to$1,000) The commissioners of County authorize the assessor by Resolution No. to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of one thousand dollars or less per tract,parcel,or lot of land or per schedule of personal property,in accordance with§39-1-113(1.5),C.R.S. The assessor and petitioner mutually agree to the values and tax abatement/refund of: Tax Year Tax Year Actual Assessed Tax Actual Assessed Tax Original Corrected Abate/Refund Note:The total tax amount does not include accrued interest,penalties,and fees associated with late and/or delinquent tax payments,if applicable. Please contact the county treasurer for full payment information. Petitioner's Signature Date Assessor's or Deputy Assessor's Signature Date Section IV: Decision of the County Commissioners (Must be completed if Section III does not apply) WHEREAS,The County Commissioners of County,State of Colorado,at a duly and lawfully called regular meeting held on / / ,at which meeting there were present the following members: Month Day Year with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor (being present--not present)and Name petitioner (being present--not present),and WHEREAS,The said Name County Commissioners have carefully considered the within petition,and are fully advised in relation thereto, NOW BE IT RESOLVED,That the Board(agrees--does not agree)with the recommendation of the assessor and the petition be(approved--approved in part--denied)with an abatement/refund as follows: Year Assessed Value Taxes Abate/Refund Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners'Signature County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF,I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Note: Abatements greater than$1,000 per schedule,per year,must be submitted in duplicate to the Property Tax Administrator for review. Section V: Action of the Property Tax Administrator (For all abatements greater than$1,000) The action of the Board of County Commissioners,relative to the within petition,is hereby O Approved ❑Approved in part$ ❑Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature Date 15-DPT-AR No.920-66/06 EVALUATION SUMMARY TAX YEAR 2007-2008 NAME:Holland Real Estate, LLC SITUS: 3035 23 AV PIN: 0230295 COMMENTS : Using sales comps in Weld County for restaurants, we show an average price of $55 per SF, giving the subject parcel a total value of $484 , 165 . AFTER EVALUATION OF THE PROPERTY, ELITE PROPERTY SERVICES, INC RECOMENDS A VALUE OF $484 , 165 . Quick Stats Report - Comps Statistics Low Average Median High Count Sale Price $550,000 $558,550 $558,550 $567,100 2 Center Size 7,777 SF 10,173 SF 10,173 SF 12,569 SF 2 Price per SF $45.12 $54.91 $57.92 $70.72 2 Actual Cap Rate 9.52% 9.52% 9.52% 9.52% 1 Days on Market 30 30 30 30 1 Sale Price to Asking Price Ratio - - - - - Totals Sold Transactions Total Sales Volume: $1,117,100 • Total Sales Transactions: 2 Survey Criteria Location: Location method- County; Counties-Weld (CO) Basic Criteria: Sale Status- Sold; Property Type- Retail; Secondary Type- Restaurant; Sale Date- 1/1/2005 - 6/30/2006; -Include Public Record Comps; - Include Non-Arms Length Comps This copyrighted report contains research licensed to Elite Property Services-458257. 11/18/2009 Page 1 • 1 5990 W 10th St-Rafferty's SOLD Greeley,CO 80634 Weld County Sale Date: 04/26/2006 Bldg Type: Restaurant Sale Price: $550,000-Confirmed Year Built/Age: Built 1965 Age:41 Price/SF: $70.72 RBA: 7,777 SF Pro Forma Cap: - Parcel No: 095909100006 Actual Cap Rate: - .. Comp ID: 1125371 Sale Conditions: - Research Status: Research Complete 2 33165 Highway 85 SOLD Lucerne,CO 80646 Weld County Sale Date: 01/25/2005(30 days on mkt) Bldg Type: Restaurant ( "" Sale Price: $567,100-Confirmed Year Built/Age: Built 1963 Age:42 Price/SF: $45.12 RBA: 12,569 SF Pro Forma Cap: - Parcel No: 080318000007 .. Y 1 "S" Actual Cap Rate: 9.52% 1h Comp a 999079 Sale Conditions: Distress Sale Research Status: Research Complete This copyrighted report contains research licensed to Elite Property Services-456251. 11/18/2009 Page 1 VI Peo8 Arum any Auay7 fit h env AhiKIJ mC 1 rn - u`i , ae o aF e7 s : -t i r.. 4h . t t..1 c. gel aM tueste@ N irny..etA:F c !it A 0 ,�aat tr es. u w 1n "' le NON '&a 1st N L,x N MV y:g .. .. f .I. t eAV 444N axV O.:`>- .�e,', c h. .. sAY kit l F. ZeA',V • ' . ek:1 ti .;i.. NIV' 6; *AV 4:5 6.II d tag r ._: �. 0: , a' t co . •: aA1F:4,4 l Apr.;^, 'n. "'4c _ VI'.. Sty tat l.N eAV W I t k ib p5 '.0.'111011 - .l L5 4 • s A'� a c �' w aAte 4 ••••• ...... .. 1. r4,- _Ave • #5 KA1W k" 46 `� a t co 9AY JKJI it- N r tr t= - C .c n to ! -a'.Yk t ;.4. 'n 44V lilt.\ N z . sj t» i .c any lssi a _..... • 2' a n N • tC b ilnt'nJ !pi ax NCZ N r F .Ay;we II 274 a 14-hw k:si. 21 G �i e1JrV'4 ei:51h naffs , � • r• „ r eAY tag? Li " •?F,r A.ew E C y^ i o ... 43 g Del Avs �" a N NF Ava U IS' f;u r. �' H Y t N a'•v 4t5C!k eht�l 4tS1 V +7"Y W,5'. $ v _, eAv kt 8 bW ID 4,1V 14;12.: ''AV Qiir . t V -iiw C 0 r. 40the j' gi A - Y • §. dnY luti ir . 3 1`. O N ♦ n s any z, : & ep c... aQi ai t$ t'} 'k 5. C u N A f u ¢ Sdth.A.v'+ zu ! gnVLvls US 'z -e Lars p:l i'MN AtU-K E.AY WAG eAY LIVA "t ' a'•V 6$ . LL�. 1 • u. . p Ty-,3 ti r iii 656,AvO G . C J i a r ._... • : •..... �s :� `S �. t]I Cat PiaN t�4r�:s �. : `S � w+V;sit f N 1 q • r,; 1y A3 0 'Ito2 . 3 Ili/06/2009 179:41 303691002 PA(;` 05 • PROPER Ty saoo r asr °�""`s±R . Ns o sre"2s SERV,C DENVER.t o 8o2 CGS ES,inc. 1 353-5877 Om1At�C :p Pn Pony T polus ) GOLort�po SP1UN r e,"ox 6nent SPeclelist,inc. FAX( ) ? t•w co oo e4 •Subcid)gry. Pic)sa�c+a " moo ar0 sane »err TORZArN T('WHOM IT MAY CONCERN: Wt authorize Property Tax Adjustment Specialists,Inc.,to act as our agent in property assessment matters for the mat arc personal property listed below. As )ur agents,•Property Tax Adjustment Specialists,Inc.has full authority to handle all matters relative to amsessmcnts witl•your ofisce, This includes,but is not limited to,the inspection of any property record documents,both public:Ind can idantial,for real and personal property,the receipt of assessment notices,tax statements,etc. Additionally,they have pert fission to relntscnt us in any appeal or abatement process. 'Cliff muthorix tmtun is valid for the 2009 tax year petition and any previous year's abatement petitions. Pm H'ERTY OWNER OF RECORD:/ n/, /6e k/ / 'e C wnc as shown ore PrTu: --er)j .1)-Sip More aUe Ct /;e '5 — `C' / Nan le(Printed or Typed) Phoge;Numberi PR(►PER Y ADDRESS&TAX SCHEDULE NUMBER:.... se e GI-..)11.4-c.4. vi-,e • • fir. 5 . . • PIN STTDS NAME 383 W MCPAR DR Holland Real l:'.--Lace LLC Holland Rea_ l?,.taLe, LOC 001540 1840 MAIN AVE Holland Real 82tate, LLC 009998 243 6. MAIN ST Holland Real ^ :5ate, LOC 037953 3207 HIOTIWAY 6 AND 25 Holland Ran' Tn,Late, LLC 065261 2516 BROADWAY Holland Real O'Late, LLC 0230295 3035 23 AV Holland Rea 82tate, LOC 0652.230 2340 S TOWNSEND AVE Colland Rea), !`-tate, LLC 11014060 Rolland Rea] r_'tatc, LOC 0513055001 3406 4 ELIZABETH S. Rolland Real Ectate, LI.C 0513055002 3400 N P.LIZARETH ST Rolland Rea` Relate, LOG 6402307011 1518. N ACADEMY DV Holland Rea ':=fate, LLC 6411209066 1245 N ACADEMY DV Holland Real Prtate, LLC 085501200025 1280 VICTORY WAY W Holland Rea' Fatate, 17'915411008 9'151 GRANT ST Holland Rea: 8state, LO_ 541305000046 3338 CLARK ST Holland Real Estate, LOG 028273080406016 1727 R KANSAS PLAZA Holland Real Estate LLC ELITE DENVER COLORADO SPRING 6000 EAST EVANS AVE., STE 1-426 PO BOX 5082 PROPERTY DENVER, CO 80222 (303)355-5871 COLORADO SPRINGS, CO 80949-082 (719)594-64 (800)840-9668 (800)840-96f SERVICES, inc. FAX(303)691-8882 FAX(800)694-69f Property Tax Adjustment Specialist, Inc. •Subsidiary• www.copropertytaxes.com Nov 18th, 2009 To: Weld County Assessor's Office Ref: 2007/8 tax year abatement appeals To Whom It May Concern: Enclosed are the petitions for the 2007/8 tax year, I can be reached at 303-355-5871 if you need further information. Thank you Sincerely • Cindy Mayer I cal 1- 3`b�1\o 7 NOV 2 o 2009 WELD. COth- `r A6 i S8GR GREELEY. COLORADO RE: 2007-2008 abatement Holland Real Estate (Golden Corral Restaurant) 3035 23rd Ave Greeley, CO Attention: Chris Woodruff The agent for Holland Real Estate is asking for a value of$484,165 (or$55 psf)for both 2007 & 2008. The Weld County Assessor's Office has a value of$1,056,360 (or$120 psf) for both of these years. I would recommend a denial of the abatement. Their requested value of$484,165 is lower than the value we have on the subject's land at$500,720 or $5.00 psf. The subject itself sold 09/24/2002 for$1,330,000(or$151.08 psf)this sale can still be used in a hearing with an extended base year. I used $15.00 NNN psf in the income analysis due to the size of the subject. Other known rents are Coyote's Grill at$25.59 NNN psf, Buffalo Wings at$22.00 NNN psf, and the Road Kill Grill at$17.20 psf. A study of the market data would indicate the following: Sales comparison approach $1,276,400 (or$145.00 psf) Income approach $1,015,500 (or$115.36 psf) Cost approach $1,293,000 (or$146.88 psf) Assessor's Office Value $1,056,360(or$120.00 psf) Based on the sales comparison and the income approach it would indicate our value of$1,056,360(or $120.00 psf) is a fair value. Chuck- ext. 3676 WELD COUNTY ASSESSOR ,"%covet#: R0230295 PROPERTY PROFILE Parcel#: 095924100085 Local#: MH Seq#: MH Space: Appr Year:2007 Levy: 75.561 #of Bldgs: 1 Create On: 01/01/1989 Tax Dist: 0600 Map#: 1492 LEA: GRLY79 Active On: 19950101 Assign To: SGJ Initials: JTROYER Acct Type: Commercial InactiveOn: New Growth: 0 Last Updated:9/22/2008 Owner's Name and Address: Property Address: HOLLAND REAL ESTATE LLC Street: 3035 23 AV City: GREELEY 1515 N ACADEMY BLVD STE 400 COLORADO SPRINGS CO 80909 Business:GOLDEN CORRAL Sales Summary Sale Date Sale Price Deed Type Reception# Book Page# Grantor 9/23/2002 $1,330,000 SWD 2990883 CNL INCOME FUND XIV LTD 9/18/2002 $1,330,000 SWD 2990884 GOLDEN CORRAL CORPORATION 8/23/1994 $1,245,700 02403597 1456 GOLDEN CORRAL 8/15/1994 $275,000 02403324 1456 Legal Description GR WMS-2 L2-3 WAL-MART SOUTH SITUS:3035 23 AV GREELEY 80631 Subdivision Name: WAL MART SOUTH Block Lot Tract Section Township Range 2 24 05 66 Land Valuation Summary Abst Square Unit of Number Value Actual Assmt *Assessed Land Type Ag Code Code Feet Measure Of Units Per Unit Value Percent Value Commercial 2130 100,144 Square Feet 100144 $5.00 $500,720.00 0.29 $145,210 Land Subtotal: 100144 $500,720.00 $145,210 Monday, March 08, 2010 Page 1 of 3 WELD COUNTY ASSESSOR Acrgunt#: R0230295 PROPERTY PROFILE Parcel#: 095924100085 Local#: MH Seq#: MH Space: Buildings Valuation Summary Abst Assmt *Assessed Bldg # Property Type Code Occupancy Actual Value Percent Value 1 Commercial 2230 350 - Restaurant $555,640 0.29 $161,136 Improvements Subtotal: $555,640 $161,136 Total Property Value $1,056,360 $306,346 *Approximate Assessed Value Building#: 1 Condo SF Condo % Land: Condo % Bldg: Unit Type: Landscaping $: Property Type: Commercial 0 1 $0.00 Quality: Good Nbhd: 6905 Occupancy: Restaurant Condition: CM-Typical Nbhd Ext: 00 Perimeter: 419 Nbhd Adj: 1 Percent Comp: 100.00% Individual Built As Detail Built As: Restaurant Year Built: 1994 Construction Type: D Year Remodeled: HVAC: Complete HVAC % Remodeled: Interior Finish: Adj Year Blt: 1994 Roof Cover: Effective Age: 14 Built As SF: 8803 Mh Make: #of Baths: Tag Length/Width: X #of Bdrms: Tag Length/Width: X #of Stories: 1 Mh Skirting LF: Story Height: 8 MH Skirting Type: Sprinkler SF: Diameter: Capacity: Height: Building Details Bldg#: 1 Units Units Price RCN Actual Value Add On Asphalt Average 69300 $1.82 $126,126.00 $102,162.00 Concrete Slab Average 2154 $2.80 $6,031.20 $4,885.00 Com Canopies Wood Average 200 $6.90 $1,380.00 $1,118.00 Monday, March 08, 2010 Page 2 of 3 WELD COUNTY ASSESSOR Ac:;euntt#: R0230295 PROPERTY PROFILE Parcel #: 095924100085 Local#: MH Seq#: MH Space: Value Details ---1 RCN Cost/SF: $106.32 Design Adj %: 0 Func Obs %: 0 Total RCN: $1,069,472.00 Exterior Adj °/0: 0 Econ Obs %: 0 Phys Depr%: 0.19 Interior Adj °/0: 0 Other Obs %: 0 Phys Depr$: 203200 Amateur Adj %: 0 RCNLD $: $866,272.00 RCNLD Cost/S $98.41 Market/SF: $0.00 Monday, March 08, 2010 Page 3 of 3 • WELD COUNTY ASSESSOR Account#: R0230295 PROPERTY PROFILE Parcel#: 095924100085 Local#: MH Seq#: MH Space: Appr Year: 2008 Levy: 75.261 #of Bldgs: 1 Create On: 01/01/1989 Tax Dist: 0600 Map#: 1492 LEA: GRLY79 Active On: 19950101 Assign To: SGJ Initials: ASR Acct Type: Commercial InactiveOn: New Growth: 0 Last Updated:9/22/2008 Owner's Name and Address: Property Address: HOLLAND REAL ESTATE LLC Street: 3035 23 AV City: GREELEY 1515 N ACADEMY BLVD STE 400 COLORADO SPRINGS CO 80909 Business:GOLDEN CORRAL Sales Summary Sale Date Sale Price Deed Type Reception# Book Page# Grantor 9/23/2002 $1,330,000 SWD 2990883 CNL INCOME FUND XIV LTD 9/18/2002 $1,330,000 SWD 2990884 GOLDEN CORRAL CORPORATION 8/23/1994 $1,245,700 02403597 1456 GOLDEN CORRAL 8/15/1994 $275,000 02403324 1456 Legal Description GR WMS-2 L2-3 WAL-MART SOUTH 3035 23 AV GREELEY 80631 Subdivision Name: WAL MART SOUTH Block Lot Tract Section Township Range 2 24 05 66 Land Valuation Summary Abst Square Unit of Number Value Actual Assmt *Assessed Land Type Ag Code Code Feet Measure Of Units Per Unit Value Percent Value Commercial 2130 100,144 Square Feet 100144 $5.00 $500,720.00 0.29 $145,210 Land Subtotal: 100144 $500,720.00 $145,210 Monday, March 08, 2010 Page 1 of 3 • WELD COUNTY ASSESSOR Account#: R0230295 PROPERTY PROFILE Parcel#: 095924100085 Local#: MH Seq#: MH Space: Buildings Valuation Summary Abst Assmt *Assessed Bldg # Property Type Code Occupancy Actual Value Percent Value 1 Commercial 2230 350 - Restaurant $555,640 0.29 $161,136 Improvements Subtotal: $555,640 $161,136 Total Property Value $1,056,360 $306,346 *Approximate Assessed Value Building#: 1 Condo SF Condo % Land: Condo % Bldg: Unit Type: Landscaping $: Property Type: Commercial 0 1 $0.00 Quality: Good Nbhd: 6905 Occupancy: Restaurant Condition: CM-Typical Nbhd Ext: 00 Perimeter: 419 Nbhd Adj: 1 Percent Comp: 100.00% Individual Built As Detail Built As: Restaurant Year Built: 1994 Construction Type: D Year Remodeled: HVAC: Complete HVAC % Remodeled: Interior Finish: Adj Year Blt: 1994 Roof Cover: Effective Age: 14 Built As SF: 8803 Mh Make: #of Baths: Tag Length/Width: X #of Bdrms: Tag Length/Width: X #of Stories: 1 Mh Skirting LF: Story Height: 8 MH Skirting Type: Sprinkler SF: Diameter: Capacity: Height: Building Details Bldg #: 1 Units Units Price RCN Actual Value Asphalt Average 69300 $1.82 $126,126.00 $102,162.00 Concrete Slab Average 2154 $2.80 $6,031.20 $4,885.00 Com Canopies Wood Average 200 $6.90 $1,380.00 $1,118.00 Monday, March 08, 2010 Page 2 of 3 WELD COUNTY ASSESSOR Account#: R0230295 PROPERTY PROFILE Parcel#: 095924100085 Local#: MH Seq#: MH Space: Value Details RCN Cost/SF: $106.32 Design Adj %: 0 Func Obs %: 0 Total RCN: $1,069,472.00 Exterior Adj %: 0 Econ Obs %: 0 Phys Depr%: 0.19 Interior Adj %: 0 Other Obs %: 0 Phys Depr$: 203200 Amateur Adj %: 0 RCNLD $: $866,272.00 RCNLD Cost/S $98.41 Market/SF: $0.00 Monday, March 08, 2010 Page 3 of 3 Account Notes Account#: R0230295 Entry Date Office Note Bldg Category 11/7/2006 A 2006-CHANGED TAX AREA IN MASS FROM 0673 TO 0600 PER DUPLICATE AREAID ADM QUERY 12/21/1995 7 A 1995: SPLIT FROM PIN#0131694. TLF AGEN 12/21/1995 7 A 1995: NEW CONST. FOR 95. 100%COMPLETE. SIGNED OFF GRLY PERMIT MKT 12/21/1995 7 A DATED 8/94 VALUED AT$490,000. CCJ/KRD 1/13/95 MKT 12/21/1995 7 A MEMO OF LEASE BY CNL INCOME FUND XIV LTD, LESSOR,8 GOLDEN CORRAL 001 AGEN CORP 12/21/1995 7 A LESSEE, FOR A TERM ENDING 8/31/2009,WITH OPTION TO RENEW FOR 4 ADD'L 001 AGEN 12/21/1995 7 A PERIODS OF 5 YRS EACH, RECORDED 8123/94 BK 1456-2403598. TLF 001 AGEN 12/21/1995 7 A PERMIT 95040022 4-5-95$1000 INSTALL ACCORDIAN PARTITION FOR BANQUET 001 MKT 12/21/1995 7 A ROOM. 001 MKT 3/5/2002 A CHGD MAILING ADDR TO PO BOX 1671 ORLANDO PER FAX RECEIVED 3/4/02 FROM ADM GEORGIA SMITH,REAL ESTATE TAX ADMINISTRATOR.JWE 12/21/1995 7 A LAND WAS PURCHASED 8118/94 FOR$275,000. CCJ 001 MKT Monday, March 08, 2010 Page 1 Sketches\Photos for Acct# R0230295 BIdgID: 1 Q:\data\photos\095924100085_001_rv_l x.jpg - ,1.4 xI t , "4444 Fs Pr gg ;"`.Sa om O 5 g Y 4 �v 'iF I saila�i., 3IFYffi}iw'N ta .�". 03/04/2010 BIdgID: 1 Q:\data\photos\095924100085_001_rv.JPG MART svecoc j.- .. • al ' . Sketches\Photos for Acct# R0230295 BIdgID: 1 Q:\data\photos\095924100085_001_1x.jpg fa '� t s t'.'°4•., y $ F „k me ■ 6. — +. �. p. 03/04/2010 BIdgID: 1 Q:\data\photos\095924100085_001.JPG V I ' 1 / N. ` j ail pp,,,,, ra Y''.. Sketches\Photos for Acct# R0230295 BIdgID: 1 Q:\DATA\SKETCHES\095924100085001-1.jpg 134.5' b Fb 23.0' REEZE m 100.0 0.F b 12.0' COOLER CONCRETE 102.0 S.F. SLAB 2 18.0' 1449.0 S.F. GOLDEN CORRAL RESTAURANT First Floor 8802.8 S F. m 2.0' 520' ? ENTRY c 520' av 0° 8.0'J 8.0' CANOPY/ 30.5' 200.4 S.F. Sketch by Apex I V UNnclows"• Su bec.-t- Sketches\Photos for Acct# R0230295 BIdgID: 1 Q:\data\photos\095924100085_001_1x.jpg c f tr s f.,, ! w ",,t 1 w n�" (y ..Asc.. x �t i iX r i t#fir 154.17" `,C } •� �a."kaf Y : Prr- ,rte. +,.• 4 � 03/04/2010 BIdgID: 1 Q:\data\photos\095924100085_001.JPG 4 ..r 'stp 6 r-a _ - Sketches\Photos for Acct# R0230295 BIdgID: 1 D:\DATA\SKETCHES\095924100085001-1.jpg 134.5' 23.0' c ' m G8.00.0 S.F 12.0. m CONCRETE 102.0 COOLER S.F. SLAB 16.0 20' 18.0' 16490 S.F. GOLDEN CORRAL RESTAURANT First Floor 8802.8 S.F. 201 FA 52.0' ' ENTRY a m P 0d 12 8.0' 0.0' CANOPY 30 5' 200.4 S.F. Sketch by Ppex I V 1Mndows." 4, 0, W. in • X 3 O a N t< °n N x CD m a OU w 04 J c'o a h.4 traV 3 ' 24.4. m o a t R i a Ii • a' _, . !1 fe p d,. .a' ^ I et +' &�L 7 � � - . � ;2N e•• q l V _.. 1 `� it �, �y�}}yy� = j ' • ,,, . •• • , „... ,; , , ;., .k.to ', k. • • I x ° llllll�� l °O as • a ` f `mu a'u • T.E.III,1).: 1 - • , . . III `QQ f' ` r1 . ,.4 k: ,- 4 t s . EP, p •I k !.' A..,H19Z z i \ ^1 mmN ovaizo a; .' v� .hY� liii 4• .� %. ... of :si xt "...;$46.-:«..,- iw a<t . r mY'` '.:44.0`'f ail` °` I I {Ylx s .l j _ '1 I"��3 mY'v, .y . ` Yy`` �" ;i: ESP i" 0 m y • LO O O (O Cr O) C N O O CO Cog O N '•1O O CO a0 o N O Q.1 O r co' 7 CO n N •O CC O N o o N O r W r CTM) N 0 O Q a) O M m O M O N a a in N _EN n o EN i 2 M N ^ O a k) a \, II t S N M N M 0 M ] Q M ¢ CO O N O d., oi K N N m a) K 0.O. r a (o co O N O N W a r J a Q O O OOi (MO o C �.. M o o n n N o O Co O F o (1) N in v> g o a) ro a a) R NI- W ct N N a 0) oo C� —I i I 0 m N i I d 0 I I R C p N O O V M CO m i.,3 p N (() N w U) 00 0) O r W 0 W N., N y O l O N N 7 r V O >, (A (A 2 a) O N N CC n r c co 0. to rn o a) y ko co' r J ar a, N LL E ' to 43 as a 0) a, a) c v LIJ J 4 « V © 0 a) a3 te Q I 2 y E #II, 0 « « o d 0• A y > (n C. O. O. o (`a' v I. - m (e (ca m v t w c O O O 0 0.I a 8 0 0 0 J m w m 7. I 0 0 O C! j 00' 40 o Pt Re ann9 w/all Pet S E B° Restaurant„ B _ r First Floo,5S3 B SF y0 e � I IS o' ��Ila' 7P' +a I I;p a z R Concrete a b Be 0' '% B' t BaYn+ntlaw axn by—cm COMPARABLE SALE COUNTY: WELD ACCOUNT R2291886 PARCEL NUMBER: 095912400022 PRIMARY OCC: Restaurant PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 2400 17 ST GREELEY RECEPT NUMBER: 3412536 SALE DATE: 8/15/2006 GRANTOR: MAGNUM PROPERTIES LLC SALE PRICE: $775,000 GRANTEE: R D L LLC ADJ SALE PRICE: YEAR BUILT: 1981 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 7.69 LAND SIZE (SF): 42,799 LAND VALUE: $171,196 BLDG SIZE (SF): 5,563 IMPS PRICE/SF: $108.53 WALL HEIGHT: 8 SALE PRICE/SF: $139.31 STORIES: I INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE CH POINTS PAID: QUALITY: Average COMMENTS: BUYER ALSO PAID AN ADDITIONAL$42,500 FOR F F&E AND$42,500 FOR GOODWILL. CONFIRMED SALE WITH RON LIVESAY(BUYER). ik Z' 2319 8th Ave _"Ty��'—"'--"_' �i,� • 33 0 12 0' b3O I Ir 310' 90 S Ssrt Restaurant d20' BI11977 anopy Class C It': '' t �b E4 cr 3 -s � soap 59.0' Complete lNAC f b. gF" W 3'-14' H '; ss 5487.0sgft 5.0' A0 .««.� «rvEl �r _ �,,. canopy 1720 29D 190' 160' 31.0' �, 8th Ave s“,,,,,,,,"vw-eo..- COMPARABLE SALE COUNTY: WELD ACCOUNT NUMBER: R3523186 PARCEL NUMBER: 096117223032 PRIMARY OCC: Restaurant PERCENT: 100% SECONDARY OCC: PERCENT: ADDRESS: 2319 8 AV GREELEY RECEPT NUMBER: 3298286 SALE DATE: 6/24/2005 GRANTOR: ANDERSON DALE E(8.96 PCT)& SALE PRICE: $655,000 GRANTEE: EL DUENO LLC ADJ SALE PRICE: YEAR BUILT: 1977 CLASS: C EFFECTIVE AGE: 1980 LAND/BLDG RATIO: 6.50 LAND SIZE (SF): 35,675 LAND VALUE: $124,863 BLDG SIZE (SF): 5,487 IMPS PRICE/SF: $96.62 WALL HEIGHT: 12 SALE PRICE/SF: $119.37 STORIES: 1 INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE CH POINTS PAID: QUALITY: Good COMMENTS: The subject restaurant was vacant at the time of the sale(for approx one year),so there is No consideration for an on-going business value. 1- - 130.5' b. IPEEOE5 13V b m uensr b 1Etl m COO EP CONCRETE 5104.F_ SLAB i 184 144955E. GOLDEN CORRAL RESTAURANT First Floor EID2 B S b . b Fi i 4,m 21 514 m ENTRY 510 C . B'' b 90c PO'm CANOPY/ 315 &bASE Sketch b,rot.NM4Mri" COMPARABLE SALE COUNTY: WELD ACCOUNT R0230295 PARCEL NUMBER: 095924100085 PRIMARY OCC: Restaurant PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 3035 23 AV GREELEY RECEPT NUMBER: 2990883 SALE DATE: 9/23/2002 GRANTOR: CNL INCOME FUND XIV LTD SALE PRICE: $1,330,000 GRANTEE: GOLDEN CORRAL CORPORATION ADJ SALE PRICE: YEAR BUILT: 1994 CLASS: D EFFECTIVE AGE: LAND/BLDG RATIO: 11.38 LAND SIZE(SF): 100,144 LAND VALUE: $400,576 BLDG SIZE(SF): 8,803 IMPS PRICE/SF: $105.58 WALL HEIGHT: 8 SALE PRICE/SF: $151.08 STORIES: I INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: AVERAGE COMMENTS: PROPERTY KNOWN AS GOLDEN CORRAL FAMILY STEAK HOUSE. 3 y • [ I++1 BO61 1000 050' ih A-130:4, o • 1000 }'.Y,y ' RESTAURANT xo 36' 38840051 ry � Li 1999 '"7 fi, - fi6iPTiIU CuBU4rcco. kp_ - � C` 1983' `1 6061' COMPARABLE SALE COUNTY: WELD ACCOUNT R3905405 PARCEL NUMBER: 080720203014 PRIMARY OCC: Restaurant PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 1205 MAIN ST WINDSOR RECEPT NUMBER: 3301849 SALE DATE: 7/6/2005 GRANTOR: WINDSOR MALL INVESTMENTS LLC SALE PRICE: $700,000 GRANTEE: COACH HOUSE RESORT LLC ADJ SALE PRICE: YEAR BUILT: 1999 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 4.60 LAND SIZE(SF): 17,860 LAND VALUE: $89,298 BLDG SIZE(SF): 3,884 IMPS PRICE/SF: $157.23 WALL HEIGHT: 12 SALE PRICE/SF: $180.22 STORIES: I INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: Good COMMENTS: BUYER IS A PURE INVESTOR,HAS NO AFFILIATION WITH THE COMPANY THAT OWNS THE RESTAURANT BUSINESS.CONFIRMED SALE WITH WALTER GATES(BUYER), 3/8/2010 MARKET INCOME WORKSHEET Parcel : 95924100085 Name: Holland Real Estate Address: 3035 23 Ave, Greeley Bldg Sq Ft Use No of Units 8,803 Restaurant 1 Effective Tax Rate Mill Rate Assm't Rate Tax Rate 0.075278 0.29 0.0218306 Avg Rent PSF NNN Annual Rent per Annual Gross i Area Rent PSF Month Income S, •x: : 0 �� #trs' ti's. t fi LessVacancy & Expenses Vacancy 15% $19,807 : ., aN,. r . a c mgmt 3% $3,367 RJR 2% $2,245 144 rt Rol tp,, Net Income/Overall Cap Rate = Property Value Property Value y� Value Per Sq Ft . ° . ' -.. ,,icy.R� °r�R � .tx Y" ,". ` ® 8.� •iL '' ®u.. a``'°akz.. 3i. Total Value page 1 Cost Approach Summary PARCEL NUMBER 95924100085 PROPERTY OWNER Holland Real Estate ADRESS 3035 23 Ave CITY, STATE, ZIP Greeley, Colo DATE OF APPRAISAL 06/30/06 OCCUPANCY: Restaurant NUMBER OF STORIES 1 FLOOR AREA (SQ. FT.) 8,803 AVERAGE STORY HEIGH' 14 CLASS: D YEAR BUILT/Remodeled COST RANK Average EFFECTIVE AGE 1994 HEATING AND COOLING Complete HVAC ESTIMATED LIFE 35 UNITS COST TOTAL RCN BASIC STRUCTURE COS' 8,803 $106.32 $935,935 perimeter adjustment 0.97 wall height adjustment 0.97 Current multiplier 0.98 Local multiplier 1 Adjusted RCN Basic Cost $862,119 EXTRAS: Sq Ft Cost PSF Concrete estimate 2,154 $3.10 6,677 Asphalt estimate 69,300 $2.10 145,530 Canopy 200 $7.49 1,498 TOTAL RCN $1,015,824 LESS DEPRECIATION PHYSICAL 0.22 $223,481 FUNCTIONAL 0.00 $0 ECONOMICAL 0.00 $0 RCN LESS DEPR. $792,343 ADD IN LAND VALUE $500,720 TOTAL VALUE $1,293,063 Rounded Value $1,293,000 Value PSF $146.88 0 CLERK TO THE BOARD K PHONE (970) 336-7215, EXT. 4225 FAX: (970) 352-0242 P.O. BOX 758 111 ' GREELEY, COLORADO 80632 Ci COLORADO March 22, 2010 Holland Real Estate, LLC 1515 North Academy Boulevard, Suite 400 Colorado Springs, CO 80909 RE: SCHEDULE NUMBERS: R0230295 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 properties described as: 3035 23rd Avenue, Greeley, Colorado. The meeting is scheduled for May 10, 2010, 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 Esther Gesick at (970) 336-7215, extension 4226. Sincerely, Esther E. Gesick Deputy Clerk to the Board cc: Assessor Cindy Mayer Elite Property Services, Inc. 6000 East Evans Avenue, Suite 1-426 Denver, CO 80222 CLERK TO THE BOARD PHONE: (970) 336-7215, Ext. 4225 FAX: 100) 352-0242 91 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 pe COLORADO JUNE 8, 2010 HOLLAND REAL ESTATE, LLC 1515 N ACADEMY BLVD STE#400 COLORADO SPRINGS CO 80909 RE: SCHEDULE NUMBER R0230295 Dear Property Owner: On May 10, 2010,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 the Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 420, Denver, Colorado 80203. Very truly yours, Tonga Disney Deputy Clerk to the Board cc: Assessor Elite Property Services, Inc 6000 E Evans Ave Ste#1-426 Denver, CO 80222 td/db Hello