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Home My WebLink About20090644RESOLUTION RE: DENY PETITION FOR ABATEMENT OR REFUND OF TAXES - GARAGE STORAGE, 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 16th day of March, 2009, at which meeting there were present the following members: Chair William F. Garcia, and Commissioners Sean P. Conway, Barbara Kirkmeyer, 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 Garage Storage, LLC, being represented by Kevin Schultz, and WHEREAS, the Board of County Commissioners have carefully considered the attached petition, and are 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 VALUATION ABATEMENT OR REFUND TAX YEAR $0.00 $0.00 2008 2009-0644 AS0072 CT' tt 1 art TAX ABATEMENT PETITION - GARAGE STORAGE, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of March, A.D., 2009. ATTEST: Weld County Clerk to th Depu APPRO)0ED AS unty Attorney Date of signature. Lilt log BOARD OF COUNTY COMMISSIONERS WELD COU_N�COLORADO }//I /Z/ illiam F. Garcia, Chair Dougla ademac -r, Pro-Tem e�n P. Conway Lad— -4M a Kirkmeyer David E. Long 2009-0644 AS0072 Abate/Refund PETITION FOR ABATEMENT OR REFUND OF TAXES County: Weld Date Received (Use Assessor's or Commissioners' Date Stamp) Section I: Petitioner, please complete Section I only. 12 19 2008 Date: Month Day Year Petitioner's Name: Garage Storage, LLC Petitioner's Mailing Address: 4057 Camelot Circle', Ste. B c.,kLi) (;;(j,j;v,'d SIESS'i`< Colorado 80504 4?fit"`..`_' '"rOsLORADO DEC 19 2008 Longmont City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY See Exhibits 1 & 2 _ ,R6) 33nRLS' Petitioner states that the taxes assessed against the above property for the property tax year 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: E 1,468,000 Value (71108 Year Petitioner requests an abate)ltent or refund of the appropriate taxes. I declare, un or stateme true, rjury in the second degree, that this petition, together with any accompanying exhibits ared or examined by me, and to the best of my knowledge, information and belief, is z-t-� a-. r—Aelit Daytime Phone Number ( 970 ) 535-6074 gnature nt's Signatur9 'Letter of agency must be attached when petition is submitted by an agent. Daytime Phone Number ( 970 ) 535-6074 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 II: Assessor's Recommendation (For Assessor's Use Only) Tax Year 200? Actual Assessed Tax Origlna�1451 64h/ on, 996 13$, co ;OM 6ff `�ien 99 1f ysi 7ff OK ❑ Assessor recommends approval as outlined above. No protest was filed for the year: (If a protest was filed, please attach a copy of the NOD.) Asssyssor recommends denial for the following reason(s): VA/44•C//J� ��s Ref t//me4lt9q l7 y' 4 1O l /3(j .M ctt23 I/ Assessor's or - puty Assessors ature 15 -OPT -AR No -920-66/06 2009-0644 03/03/09 08:42 FAX WELD ASSESSOR Z002/007 December 17, 2008 EXHIBIT 1 PAGE 1 GARAGE STORAGE, LLC 4057 CAMELOT CIRCLE, SUITE B LONGMONT, CO 80504 970/535-6074 Weld County Assessor 1400 N. 17th Ave. Greeley, CO 80631 Re: Property Taxes for 4070 & 4073 Camelot Circle, Longmont, Co 80504 Dear Assessor: EXHIBIT 2 lists the parcel and schedule numbers for the PETITION FOR ABATEMENT OR REFUND OF TAXES relating to 4070 Camelot Circle, Longmont, Co, 80504 (Lot 6, Block 1 of the 1-25 Business Park) and 4073 Camelot Circle, Longmont, Co, 80504 (Lot 5, Block 2 of the 1-25 Business Park). The primary reason we are petitioning for abatement of the property taxes relating to these properties is the fact that we do not have the income at this time to justify the amount of property taxes. When we spoke to Mr. Melies in January, earlier this year, we estimated an annual income from the storage center of approximately $105,000 to $110,000. The estimated amount of tax that we will owe on the storage center is approximately $33,000. This is approximately 30 percent of our income for the storage center. We believe that this amount is excessive for the amount that our company is bringing in at this time. A secondary reason for our petition is the amount that the land for the storage center is being valued also appears to be unreasonable. When we spoke to Mr. Melies in November of this year, he informed us that the land where the storage units on 4073 Camelot Circle (Lot 5, Block 2) was valued at $8.80 per square foot He also informed us that the land for the storage units at 4070 Camelot Circle (Lot 6, Block 2) was valued at approximately $820 per square foot The most recent lot purchased in the I-25 Business Park (Lot 1, Block 1) was sold for approximately $1.86 per square to John White, and that lot runs along the I-25 Frontage Rd. and is considerably more valuable than Lots 5 & 6 which arc located in the back of the business park. In addition, another factor that is affecting the value of the storage center, primarily on 4073 Camelot Circle (Lot 5, Block 2), is the oil well that has been installed on the property, which takes up more than one half of the lot We are still unclear as to whether Mr. Melies has given us any type of consideration for that facility. 03/03/09 08:43 FAX WELD ASSESSOR ¢J 003/007 EXHIBIT 1 PAGE 2 Another reason that we have for petitioning the valuation, is the fact that we did not have a Certificate of Occupancy for units 31 thru 48 (Parcel# 120723204031 thru parcel# 120723204048) until June 9, 2008 and we did not receive a Certificate of Occupancy for units 49 thru 75 (Parcel# 120723204049 thru parcel" 120723204075) unit July 1, 2008 - We believe that even though Mr. Melies used percentages to value units 31 thru 75, that we did not have any consideration given for the fact it has taken us awhile to get the income production from these units and many of them are still vacant at this time. We also do not think that it is reasonable to assess on units that were not approved for occupancy until six months into the year. Below is the detail for the calculation that we arrived at for both the Land and Buildings on Lots 5 & 6. We based this value off the assumption that Building A (25,600 square feet at 4073 Camelot Circle) and Building B (15.000 square feet at 4070 Camelot Circle) were the only buildings that were 100% complete for the whole year of 2008. Land Value of Lots 5 & 6 Lot 5 (5.242 acres) 228,341. sq. ft. X $1.50/sq. ft. = Lot 6 (5.423 acres) 236,225. sq. ft. X $1.50/sq. ft. _ Less oil wells (3 acres) 130,680 X $1.50/sq. ft. Total Value of Land for Lots 5 & 6 Building Values Building A (Lot 5) 4073 Camelot Circle — 25,600 sq. ft. X 23.62 $ 604,672 Building B (Lot 6) 4070 Camelot Circle 15,000 sq. ft X 24.22 $ 363,300 Total Value of Buildings that were 100% complete $ 967.972 Total Value of Land and Buildings $1,468,803 $ 342,512 $ 354.338 $ 696.851 $ (196,2201 $ 500,831. Please consider these reasons when making your determination on the value of the Storage Center and feel free to contact me at the number or address listed above. Sincerely yours, Kevin E. Schulz Business Manager 03/03/09 08:43 FAX WELD ASSESSOR 004/007 ID0613 T 2 Garage Storage, LLC 4057 CAMELOT CIRCLE, SUITE B LONGMONT, CO 80504 970!535-6074 2008 UNR# pARCELII 2(`_EDULES Satire Faalaat VBiw 1 120723204001 R5330808 756 24,510.00 2 120723204002 R5330938 778 25.223.00 3 120723204003 R5331008 792 25,677.00 4 120723204004 R5331108 792 26,677.00 5 120723204005 R5331208 792 25,677.00 6 120723204006 85331308 792 25.677.00 7 120723204007 R.5331408 792 25,677.00 6 120723204008 R5331508 792 25.677.00 9 120723204009 R5331608 792 25,677.00 10 120723204010 R5331708 792 25,677.00 11 120723204011 R5331808 788 25,547.00 12 120723204012 R5331908 793 25,709.00 13 120723204013 85332008 793 25,709.00 14 120723204014 R5332108 789 25,579.00 15 120723204016 R5332208 782 25,35200 16 120723204016 R5332308 786 25,482.00 17 120723204017 85'142408 786 25,482.00 18 120723204018 R5332608 1561 50,608.00 19 120723204019 R5332608 1575 51,062.00 20 120723204020 R5332708 790 25,612.00 21 120723204021 85332808 790 26,640.00 22 120723204022 R5332908 790 25,612.00 23 120723204023 R5333008 790 25,612.00 24 120723204024 85333108 790 25,840.00 25 120723204025 R5333208 790 25,540.00 26 120723204025 85333308 790 25,612.00 27 120723204027 R5333408 790 25,612.00 28 120723204028 R5333508 790 25,612.00 29 120723204029 R5333608 790 25,612.00 30 120723204030 85333708 786 25.482.00 31 120723204031 85333808 961 7,380.00 32 120723204032 R5333906 961 7,380.00 33 120723204033 R5334008 961 7,380.00 34 120723204034 R5334108 964 7,404.00 35 120723204035 R5334208 964 7,40400 36 120723204036 R5334308 961 7,380.00 37 120723204037 85334408 861 7,380.00 38 120723204038 85334508 961 7,380.00 39 120723204039 R5334608 961 7,380.00 40 120723204040 R5334708 969 7,442.00 41 120723204041 R5334808 969 7,442.00 42 120723204042 85334908 969 7,442.00 43 120723204043 R5335008 964 7.40400 44 120723204044 R5335105 964 7,404.00 45 120723204045 R5335208 969 7,442.00 46 120723204046 R5335308 969 7,442.00 47 120723204047 R5335408 969 7,442.00 48 120723204048 R5335508 969 7,442.00 49 120723204049 R5335608 961 7,380.00 50 120723204050 85335708 961 7,380.00 51 120723204051 R5335808 961 7,380.00 52 120723204052 R5335908 961 7,380.00 53 120723204053 R5336008 951 7,304.00 54 120723204054 R5336108 951 7,304.00 page 03/03/09 08:43 FAX WELD ASSESSOR 1005/007 EXHIBIT 2 Garage Storage, LLC 4057 CAMELOT CIRCLE, SUITE B LONGMONT, CO 80504 970/535-6074 2008 !INIT. PARCEL. SCHEDULE. Square Fcckgt 31!9 55 120723204055 R6336208 961 7,380.00 56 120723204056 R5336308 961 7,380.00 57 120723204057 R5336408 981 7,380.00 58 120723204058 86336508 951 7.304,00 59 120723204059 85336608 951 7,304.00 60 120723204060 R5336708 961 . 7,380.00 61 120723204081 R5336808 901 7,380.00 62 120723204062 R5338908 969 12,237.00 63 120723204063 85337006 969 12237.00 64 120723204064 R5337106 969 12,237.00 65 120723204085 R5337208 969 12,237.00 66 120723204066 85337308 951 12,009.00 87 120723204067 85337408 951 12,009.00 68 120723204068 85337508 969 12,237.00 69 120723204069 85337608 969 12,237.00 70 120723204070 R5337708 969 12,237.00 71 120723204071 R5337808 951 12,009.00 72 120723204072 R5337908 951 12,009.00 73 120723204073 R5338008 969 12,009.00 74 120723204074 R5338108 969 12.009.00 75 120723204075 R5338208 989 12,009.00 76 120723204076 R5338308 966 31,318.00 77 120723204077 85338408 973 31,545.00 78 120723204078 85338508 973 31,646.00 79 120723204079 R5338608 973 31,545.00 80 120723204080 R4118708 973 31.545.00 81 120723204081 R5338808 973 31,545.00 62 120723204082 R5338908V 973 31,545.00 63 120723204083 R5339008 973 31,545.00 64 120723204084 R5339106 973 31.545.00 85 120723204085 85339208 973 31,645.00 86 120723204068 85339308 973 31,545.00 67 120771204x)87 85339408 973 31,545.00 88 120723204088 R5339508 973 31,545.00 89 120723204089 85339608 973 31,545.00 90 120723204090 85339708 966 31.645.00 Current Year Valuation 1,689,641.00 Page 2 U - Z O OW oa O 0 • Z O J m V Z ow a laJ O V8O a A �U F- F - oz o V Q O 0W in U Fits c Z z Qa zz W $a O r�?O N • W z Z CO -J OOH W WK m Lel u. fi Z Oz 03 Z�� Lk' Wore ccJW 5 W 0 Ofj Q U w V =0 0w0 _ �d ay.3 gen C W W = O 0. F.. _ ill F - a0. QF-O U � W o W cc V P LLI ua i7 z 0 _ m LL O O a O cc O z coo O Z O I- a U O ING PERMIT NO: U ZONING DISTRICT: lb PE OF CONSTRUCTION: WEST OF THE 6TH P.M. WELD COUNTY, COLORADO LEGAL DESCRIPTION: O J BUILDING ADDRESS: ING INSPECTOR 4J I LOO 900e H0SS3SSV 07361 rid 64:00 60/40/00 i_ ,_ § kJ z 0-0in 02 /k 2§u z0 B/2 ® . .,2 \ O m & S \ = } 8 m d $ / 2 k Ts, \\§ � / § \ \ }r/ § O \ I k X22 CV§\ §k§ % 0 0 - z/ — 5 r c \ S u - E 5 eo L Dun ■■ \ \ Ehl /\/ 2 \ / z\\ 44 7 $§� 11P r o \k) o 6 \/k a Ce . <- \/k / §U_ 0� k § $ k $ 111_,...<„ 411-tille /a\ r+ ee ii_\ §<z �2 \aS o ce \\ Svl 318 /§\ p o ta z § 5 d = U. § ) e % / / \ z 0 § ) \ C \ \ [ CI_ 5 \ -. §� < 0 d \ } L00/10012] _s E red r:90 mate CLERK TO THE BOARD PHONE (970) 336-7215, EXT. 4225 FAX: (970) 352-0242 P.O. BOX 758 GREELEY, COLORADO 80632 COLORADO February 11, 2009 Garage Storage, LLC 4057 Camelot Circle, Suite B Longmont, CO 80504 RE: SCHEDULE NUMBER R5330808 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: 4068 Camelot Circle, Longmont, Colorado 80504. The meeting is scheduled for March 16, 2009, 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 GARAGE STORAGE, 'Ur: Owned by Zeek Partnership, LLLP 4075 Camelot Circle, Ste. 200 Longmont, CO 80504 Pie: Schedule 85330808 I ) Exhibit A shojis the layout for Garage Storage, LL_C as of December 3. 2008 with .? • of 90 units being leased. Note Building C' has 4 out 27 units leased. and Btiildin` L.t :,• out of 1$ units leased as of this date. 2) i xhibit t3 show the "Petition l•ot' Ahatenlerit Or Refund offaxes- with ..0 amount "Petitioner's eitinl:lte of V:Ilue" at $1.408.000 3) Exhibit I, Pa1.4e I & 2 summarize the details of supporting the reason for our request abatement oillie property taxes. •i i Exhibit 2 is a detailed spreadsheet which lists the taxes assessed Ior each Unit (whici: includes the Parcel# and Scheduler) 3) Exhibit 3 shows the Profit and Loss dated January through December. 2008 which do;.... not include amounts [Ui' property taxes, which are paid by leek Partnership, ELI .I', the rent amount excludes any amount paid towards principle on the loan (The loan payment currently only includes interest -only payments). The dross Annual Income , $ 132,023.76 and the Net Annual income (alter expenses) is -$0370.4 I I:xiiibu 4, Page 3 shows the Income Breakdown of(iarage Storage. IAA' as of Decet.,t, 15. 2008. .Al this time. we were only showing $13,925 of income ii.r the month of December. l WC W ere io maintain that amount. then WC estimate our Gross Annual Income for _a would he $167.100 and we would estimate the Net Annual Income to be approximaic . $27,705.83 (assuming that the expenses stay the same lur 2009 as they Were for 200.. 3) Exhibit 5. dated 0/9108 is for Building U and Exhibit 0, dated 7/I/0t; is for Building C. These snow that Unit rr's .31 then 18 were not available for lease until atter June c), Zoo:: and Unit r;' -I') dull 75 Were not available for lease until alter July I, 2008. We do nn.: believe that adequate credit has been given for the tact that these could not have been IMP leased by the end °U'tile year. This is an unreasonable assertion. ('Ui ..Milton: Based on the F,tel that you will are current iv taxing the property at approxint:a.:. ($34,000 / $I3'__0(IO (2008 Gross Income) and you will be taxing the property in 2009 at approximately 331%4, ($56000 / $107100 (2009 Gross Incoi,i .• we do not believe that the Project is a viable investment for either us or a potential buyer. The amount of income that we are bringing in does not just it:. the cost that Lee incurred in building die storage center. EXHIBIT i r Ln L:, C 1r° °8R r J - J J w w w (.)) 0 U m w CO PC FFENROTH w J w 4 1r) I0 ti OM 17. Ct N C.) V- U•) CL: Ps C) CZ` •- V I C) Lr+ C Imo+ G�) Ls, < CO O C ) CC) c0 P. Ps. .. Ps ti A -. )� P� Ps V 1 .r) (NI c%1 R, co co ca.) P L'. C C C C C t7 y C C., C _ C C: C C C. t'_ C 'C. C'• C C' C C. C_ C C _L C OAKCTACCG HCPP FARMS LLC HCPP FARMS :.LC HARD ROCK ENT z 0 w '-- n s u l- 2 ? ..- I- to !i.ALLENBERGER ?ATRCK HAR T CN J (7 • . • L• _ C" ._ : 7 T 7 C.) C) cf in co )- cx n? m O) C) - (V M D' N CL) rr a) Li; O N C) -I LI) (O C) C); •- '_ ••• N ... _ - - - -• N N N N N N N N CV C.I C) C) M C) •) . ) r') C,) C) J 7 �Y C C C.: CC CC' c- f C' C C L C. CC C C C C C C C C C. C; _ _ C` f- l_ f' C f Exhibit i iir1ICIV EC': ABATEMENT CR EZEi"LI'D OF ; XCS _— Law l4Jof:,-J 5.l I.(jtl,.il11- 1054 CaiiicloL Circle Ste,. C016" -u0 IiltiLI 0 SChCCULI. (e< f-: a! rill J Lk(H) Pni)P L“I`H F.UorOS) OR LLIOAL No6O-NIp 1 t iN OF FROP[13iV re::dlo e L-ne;:Ih 1..- .......... LL,...J ',am E .L, her Ftn, Ian),` -',I Ole el� olrL ct lc Ll.' lC1II ,. Ht. h..,On II IL Chu ..111.12 (lie LIItLIII 1 1 26 >nOJL nil ill [f Inc In ,t i ae'tler Ul I'etlL. . I 1..01, .H NIOVu0Ln td:.ee I; L I ..Chuily I IL�:I]w, II EU,e. Ill.0 Ellis In:IItl Jll W Uurl Lo '!l mat c:,n lNarly u 1 J ltebil- ou sL. naGI ijtur l,ea l r 1. mlu.0 tl I psi ci [Hy dlcuJ:.. Inlanll,;uou Nod I,cilcr. la I I UJ Ir q l..y n . vii ! • I. I II f,uL I'Jw Hi,oi Jrvj -.- II too 'I .e dv. oleo- ... a.t9lldnt to 5 ecliun 05-1ti-114( 1) c IJI•JCILIIIIJI run :itlIYL01stY,iLUL LIOn petitoA) tot fethilll L.I utt, Rlc1 l ut IJA.:;. II 1„IJ Uf In IJ.i Il. [Ile.' Ira nuL eR. It, Elie Lou it OI euseS llltlnt appeals pJn'nSoc (o Elio prov Es(orl 01 o.eaiol, 3n-2-125 bvri.L ,ay, lut oaf./ of any sath ae ision, § 35-111-1140(1), C.R-5. Assessor's NeC01111(ILrloelLl011 (Fur rivet.,.., (, U, Unly) Li Pecs o_, Iccol i,w oppl,..al el ou1lLma ((Love. No 1 lS; wns limn WI file you': (IIJ ulw. ROLL , l„n:neau L. -ol,y 01,11 iNo,/) LJ Mas ,0, file lobluwi,y rea9onls): P.'C.:ii: 1 si'()kAt;N, 4t, % CAN/W.1.0( t'li�L'I.L:, S.(4111:3 1.1iNG Vial i', 970/53::-6074 ui N. 17 :tee .;i t: .:lei. (.'li ii0U,� I •t :i.\C.`:; 11M..107i) 407 (':111]Cllil ('IYc1l, I..oii iiu)nt. Co ';u5o4 1.+.,'::r : tti`aCS5.il': :'•.l -11I 1`1 .2 lists the i.Lacel and schedule numbers for the I'Ll'1l ION FOR. t:: \!:S relating. to 4070 Camelot Circle, (`... 80504 (I.t,t u, Block I ul'the 1-25 Business Park) and 4073 Camelot Circle. I.oil4in;)lit. L.'.i' Ntil(±4 il.ut 5. Block 2 of the 1-2) Business l'at'h). i i'.e i)iaiatait :ist'II t\. ;tee p:Iiii ui11Ft ll%t' ahaliCinent oltil pi'tlli•_1'l\' taxes relating to prt)pCrties is the laid that 1\e lit) not have (lie income at this time to justify the ;tl,it)Lllil t)I i')It)I)Cil\ tai.\CS. \1IiC'll 11l' spoke to Mr. klelie1111 _unitary, cailier tins yea:. estimated aa] :.11titl:ll income Irtilll the storage center of appro`. iinat l\ y, t 05,000 to .t;'.I 10.ti(11i. i It:' t:5 (II 1. 1LSli a111UUnl ltlliX that \C \till U\\t: till the Storal`I Center is i.iI pit).\iilii.il::l\ !ti.i.).iHiti1• This is appru\IInateI> .ill percent of our ineenlie for the Sltti':i'`. eL [ei'. \t‘F 4.I,.'E;c4; 111:it lull Lxt:L'11i\'e for the amount I:lal t)Lar Ct±ilipaiiy li i)i'Ill liixi iii .it Illis (iiit:. :1 sC:et)i1Cl:u' a'e;tauii Ills t)111 petition is the ;ntolilit that the land lvi the Sl.ILLIL&e center \:iltied :fist: appears to be unreasonable. When we spoke Lt; r Lr. I\lelies in Itati\Ciiilier ,'•1 lilt: 'teal'.. I,t; II)It)rlileCl us that the I;.uiCl where the storage [111111 t111 4073 ( I .t)t 5, !Stock 2) was \:Iiued all .I/tl.t)(l per Stitt:il'c iaiut. lie also Iilit)1'IliL•..t ti . Chat the Iatti.I Il'1i' the S1tlra.tte units al -107U ('anieitit Circle (Lot 6, Block 2) was \'alLte,: at ::pl:,r0Xiill:ll_'I\ $8._'t) tier square loot. The most recent lot purcitasetl iii the 1-25 of I - 1 It;clt I ) \\alti SOLI i;li allapli:\inlatel\' $ I .tit) per square to Julln 1.'i•ll,le. aiid that It,t i'Ltils;titillt; the 1-25 Frontage Rd. ;uiJ is considerably i)l0I'C \aluat);t' th;..la i .t)iti « o i\ 11;eli :.re ltl.'alell in the hack of to e business park. In addition. anutll.': la ctor that u.:t11CCtit,`: tite \ail tie of the lltlra`.:I center. primarily on -4073 Catilelot l li: : (1., it S. I ltl,l.:the ail \tell that has been installed On the property, which tales tie• inore than ells. llull'.t• the lot. \\ e .n'e Still LInCIeail' as lu Whether MI'. I\'ll:lies has :liven .. Liu O pc t)I C'.IIISitlt:r:atioll 11.,1' that I;ICiiii). .:\Iltlltlel' reason that \\e have for petitioning the valuation. is the la:l that \\e did not 1. :.'erlilieale of Occupancy for units ; I thru 4 (l'arcelhi 12207232O4U:11 tlu'i.1 parcel}r I 272320404 ) alkali June t). 2008 and we dirt not receive a Celli tli t)ecul)alie\ • „ants 49 dint 75 ( I':it U; I2072;?0404) lht'u parcels; I2U7_23204U75) unit July I, 2i.:t:.• I'-elieve that even though Mr. Niches used percentages tai Value units 3I thru 75.. ti :. \\e did Ilul Il:lve aIl) consideration S:,iveii for the fact it has lakcil li; it\\I1►lt: to gel the .;ice. tale lii'tilltlt 1at11i 114'ila these units and ►11,111\ 01 thelil are still vacant at this dine. We also do Iuft think that it is reasonable lt) assess on units that vere not approved 1� .reeLillaliC\: iliiu the \':::ir. Licata'.\' is the LILT:ail lur die eaki.ilatioii that \\.; :irrl\eL1 al It)r both 111e I. and and IJtillili: Oil ( nil4. 5 S: u. \\ 1i:is d this value off the assumption th:tt IiLIiILIllir A (25,600 Squa. ►e. t at 4073 Canlcll.t ,still Building B j 15.l)U0 feel al .4(7i) (.C;tlnelut ('i::-• t\el'e the 0131) buildings lI'lill \\ere IUU",: etlllil)lete for the whole yc:al' ' :;ei'es) 228,_;-11. sq. ft. \. $1.50;sq. It. '- 0.413 :acres) 236,225. till. 1l. : i1.5o.sll. lt... ►.cis oil wells (i a.'res) 130.68(1 X $l.5U.'sq. it. fob! •).alu t'i 1.:11111fur l..otsic`t) ISllilitiit ! alim's Building ,\ t I .ui 5l 407.3 Camelot Circle _'5,600 sq. It. X 23.62 $ (,U-1,672 Building B (1.01 (►j =11:70 Camelot Circle 15.000 sq. It. X 24.22 $ 3.63.300 l c.,tai \.':Ilue of 13uilllill s (hat were complete $ 9C>7 t)7`' t)i 1.ait..1 anti E�Ulldin�'� $1.-161;.;,(1 i tli:,.' ‘k hell Waking yt1111' Jetcrllnllaliun Oil Elle Sit%iziL.e :atilt Iea'I tlla 10 contact me at the number or address listed above. Siiieerel\ h.t'\ ill I'.. "ehti l Business I\ Ian:;stet. l X1.11i)I::` Garage. Storage, LLC ,4057 CAiviELO I CIRCLE. SOTE B LONGiviLiN i , CO 80504 7 U!535-607 4• 1_,=.1^:�:L �.er __�1_•1'i L".I.+t.I L.f,r,. 4: 0 f 2: 20400.' 12072'0204003 I i::?::S 1008 :i6-.•2320.101.14 is Li: 2•::'U4U05 123. _.•-.2U-10ULi 1: ,.. ..,•:1)0:' ;•(..;3:!. 4U ._.2•J4Ui06 1C:..,., l;, i`; Il:u� I ".;!k;_...'U4U 111 I : 174? :4 1_,3: _-::0-101 23:.:S'U•iU'1 :, 123720204i)16 -1207"2...;•_.:0•10•17 -1'2U; 2..i::U•4(J'I? i:f'+_•,;2.7U5 1;: 3'_0/2:',2D401.5 ;20:2320:1026 1 i 2672020,1021 12IJ! _320.i02: Isi3, .1:.:0-iU a ice:%.a::.11Iii •'.a '<1}12320 iJ_'3 120:"? :'11=11J'Gr' il'•:; c-.i,j i ,'V 3_111. �.,:040_'h I...•,__.,uo Jtl i _(1: _ ,.,_'U-1U::';i I•;b:5:511;3:6 1 33 1i .... 1207232.04030 •.:J.....�,U1• 12U/L:: '01U.3 I I','. •..,..:;t.f, 32 12.6 ..:•:_'(310:::. I ::�:.., _, j(io ,203_-'1,40.33 •J=+I,JU :_1)"i:::3_040::s iv;?334?0 120.';'1320-IU.;U R6'33.4338 Ali ..•.-:',2040;;;.=. I_1)/?2:2C-4UC`, I<'_':S:1.)c;1:i 1:;11=111.91) -I ‘.(...1 +. 121.):2..;u -I. -4I r. i237:...'v13J•1:. h:, ..•,•4606 1:'0::'x;'0-104.3 •.•1 .'2:;2..-:0.1.1 11.i ,., i:'i):....:'U�IIi•I'..; K:::3:;'521,; c• I:.0i,';?(i-131.11'3 i .. ......1i;: •rL I2u 721:26-4/z4v 1 26 ...2:!.21.;•;;)!ii I? •3 i:,i L,li r i z'il i �.,.'iJ-4+v1:i� 1 �:.•. , .,-'11.3.7 ::.1 I_�V3_J.•ll•iyJJ I•,..',..,f�vi/f; :413.1,0 :11.3.1 re t L. L. 1l;.ili1 34,'5111 011 7:'L' 26,223.00 Ti .0G 79" 25 077 Uil ;J! •5,U7 UU 92 3') 677 00 25.677 7 00 792 25,677 U0 /J_ 2.t. (377.03 7-i2 ,r. .c.•:•.,.00 388 25,547.01) 25.70U (113 b3 25,700.00 7ti 2'.;.5.19.330 182 2`„352.00 180 '15.482 00 ;80 25.‘i82.06 ; 1501 50,600.00 15:'J 51.0t:2 00 796 25.612.00 /90 2,.Jg0.u0 JV 2J 0'12.06 lb,J 25 6I?.VU 790 25,540.60 /90 2J,d•1U.00 /9;; 25.612 CJU i:l:i 2.3,6.12.11) f`JU 25612.66 790 2:i,G 12.00 780 25.482.00 961 :•..;50.00 961 7.380.00 961 7 :101.00 'JU•1 .1.-104 VU 964 96I 7 380.06 561 ,,;:30.330 961 7,38() UU 961 7,380 00 969 / 442.01'+ 965 7.4.12.6:; 01)5 /4.1260 96,1 23',43.4.00 90,1 304.00 7.:142 00 trl. _i "1;142 UU 509 7,442. UU 7.3:50 00 7.380. 00 190', 7.386.013 ;6I , jbV.VV �1J1 7 3U4.JU 051 7 304.1}0 Fi311'2311 _ Jo 2 l� :I age &col age, LLC 40-57 CAMELOT CIRCLE, SUITE B LDNCMONT, CO 80504 97O1535-6014 340 18,305,311 3204050 1 U 3201 ll 129123'291253 :204054 1 u '?UlJub '1 ,/04101 I:30333394002 3204004 234 Pub 204005 1GW67 l 0332631008 11'1793814060 1.307221u417 1 � '3.41333 1 v 32040,'3 I':.U1.b '.334373 1. 22201074 110722204015 I3093320407d J ,'01070 1 0:'11-163/0 J .3294021 63 U L_ ,1dLUS 1333 339300 1055135401 15 936506 ;0 116 1w x..(1113 0033 30061 110 100 0'd o 0-1 29,337700 150237035 1010043010 1:25,212110 153,3333113 1533330206 133515234033 1,5373225202 100991000 I fJi; F51333'.0s53 40.2'01161 I U.3�01Gb 1552250'18 535295 1 a,3, 2.008 .01101,. 50.303n03 V.8100 901 ;,33;000 9611 ,,280.00 161 7,380 00 951 7,304.00 151 7,304 00 50'I 31880307 961 ,',p.f1.10 069 12.137.61') 96-9 198137 01 509 13.237 00 3169 I_'.2 ;ii 939 2,JUJ.uo 1201 1;(000 00 1135 ._,22'.(.10 93'0 12,23: 00 9013 12.2o.'.00 954 12,009.00 351 12,009.00 800 92,00500 393 18,000.00 9330 '12,003.00 5dG 31,115 00 ._ 2154500 633 51 545.1'0 31.545.'10 J,3 2 100500 :)1 .D45.00 3'1,145 00 9:2 30145 00 J7 31 545.00 31.545.00 014241 .945 00 31 519.00 172 31.545.00 97 i 31 545.00 106. 31.545 01 3.61110111 85/4 V3400004 3,189.6701.3.10 11:58 03/11.5 Accra.,. Exhibit Garage Storage LLC Profit & Loss January through December 2008 Ordinary Income/Expense Income Late Fees Income Rental Income Jan - Dec 08 233 00 132,79070 Total Income 1 33.023.70 Expense Advertising and Promotion Bank Service Charges Janitorial Expense Office Supplies Printing and Reproduction Professional Fees Accounting & Tax Legal Fees Marketing -Webs ite Total Professional Fees Rent Expense Repairs and Maintenance Security Theft Utilities Waste Disposal Total Expense Net Ordinary Income Net Income 3,088 58 767.75 125.00 225.76 0.25 245.00 4 3.152.50 2,195.00 5,592.50 118,000.00'x 393.45 875.00 582.00 9,545 88 198.05 139,394.1 7 -6,370.41 -6,370.41 ii Excludes t des tntountL paid for Property axc.S t y by %OC=i; PHTIi. x ;3xcf ides any aaiounc paid coward loan principle Page Exhibit: Page 1 Garage Storage., LLC 12/15/2O . Income Breakdown uNL !._NAN7 1 2 •.ELDERMIAN 3 LOX 4 HELISLE 5 1i_PS G H OKKEL Ei DEAN 9 0 LAKOTADOG 11 i'laxHorizon 1% 3 14 TEINERALLI 15 YUMIA 7 HOPP FARMS 3 oOPP FARMS 19 (i:DNOUR 20 21 HARD ROCK ENT 22 23 25 26 IdHIPKEY 27 THOMPSON 28 29 30 SUTTON Rental Income Actual Monthly Annual 275.00 3,300.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 300.00 3,600.00 275.00 3,300.00 300.00 3,600.00 500 00 6,000.00 500.00 6,000.00 300 00 3,600.00 275.00 3,300 00 275.00 3,300.00 275.00 3,300.00 275.00 275 00 275.00 300.00 300.00 300.00 275.00 300.00 300.00 300.00 300.00 300.00 300.00 300.00 275.00 275.00 275.00 550.00 550.00 275.00 275.00 275.00 275.00 275.00 275.00 275.00 275.00 275.00 27500 275.00 Projected Annual Sales Income (II all units built Sand filled) 3,300.00 S 59,900.06 3,300.00 59,900.O 3,300.00 59,900 U 3,600.00 59,900.00 3,600.00 59,900 00 3,600.00 59,900.06 3,300.00 59,900 00 3,600.00 59,900.00 3,600.00 59,900.00 3,600.00 59,900.00 3,600.00 59,900.00 3,600.00 59,900.00 3,600.00 59,900.00 3,600.00 59,900.00 3,300.60 59,900.00 3,300.00 59,900.00 3,300.00 59,900.00 6,600.00 110,000.00 6,600.00 1'10,000.00 3,300.00 59,900.00 3,300.00 59,900.00 3,300.00 59,900 00 3,300.00 59,900 00 3,300.00 59,900.00 3,300.00 59,900 00 3,300.00 59,900.00 3,300.00 59,900.00 3,300.00 59,900.00 3,300.00 59,900.00 3,300.00 59,900.00 Garage Storage, LLC 12/15/20; Income Breakdown 001INANT 31 33 34 35 i.At_LENBERGER 36 ( ARTON 31 33 0IMRAD 3`6 i:;f/IRAD 4U 41 -ARLIIN 42 4j 44 SPEISS 40 45 48 49 HIVIRAD 50 51 52 53 54 55 56 57 5b 59 JYPSY 50 POCHLITZ 01 HORN TON 62 03 64 65 6b 67 68 69 70 7I Rental Income Actual Monthly Annual 425.00 425 00 425.00 425.00 425.00 5,100.00 425 00 425.00 5,100.00 425.00 425.00 425.00 5,100.00 425.00 425.00 5,100.00 425.00 425 00 425.00 5,100.00 425.00 425.00 425.00 425.00 5,100.00 42500 425.00 425.00 425.00 425.00 425.00 5,100.00 425.00 425.00 425.00 425 00 425.00 425 00 425.00 425.00 425.00 425.00 425.00 5,100.00 425 00 425.00 5,100.00 425.00 425.00 5,100.00 425.00 425.00 425.00 425 00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 Sales Income Projected off all units built Annual and filled) 5,100.00 69,900.0:: 5,100.00 69,900 00 5,100.00 69,900.0', 5,100.00 69,900.00 5,100.00 69,900.0., 5,100.00 69,900 00 5,100.00 69,900 00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900 00 5,100.00 69,900.00 5,100.00 09,900.00 5,100.00 69,900.00 5,'100.00 69,900 00 5100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,90000 5,100.00 69,900 00 5,100.00 69,900.00 5,100.00 69,900.00 5,100 CO 69,900 00 5,100.00 69,900.00 5,100.00 69,900.00 5,100.00 69,900.00 Exhi 'age 3 Garage Storage, LLC 12/15/201;.., Income Breakdown Rental Income Actual Um 'i : EN/MIT Monthly Annual 7.1 7: 7-+ 7� 7t :: LACKWELL 77 is LACKWELL 7 L. ACKWELL 7: i •OFFENROTH 8j ;,TILE HIGH INSUL 1 ..3CKROW 82 s iOPP FARMS 83 FOAM CONNECT 84 85 66 87 88 SIMPSON 89 MAVERICK 90 425.00 5,100.00 425.00 5,100.00 425.00 5,100.00 450.00 5,400.00 425.00 5,100.00 425.00 5,100.00 400.00 4,800.00 450.00 5,400.00 450.00 425.00 5,400.00 5,100.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 425.00 Projected Annual 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 5,100.00 Sales Income (It all units built and filled) 69,900.00 i 69,900.00 69,900.00 69,900.00 69,900.0u 69,900.0 69,900.0: 69,900.0u 69, 900.00 69,900.00 69,900.00 69,900.00 69,900.00 69,900.00 69,900.00 69, 900.00 69,900.00 69,900.00 69,900.00 13925.00 167,100.00 414,600.00 $ 6,091,200.00 >4- itr) z 4. L; Lefi L1: 4 LIL 41, U r ' O z Li▪ t 0 W • ._J O1 OZ ✓ V al 0 O! LU 0 MI 0 11 0 F- D 0 U a U J uJ S U.J I --- U-. O 0 00 r•.) z V LtJ LL. O L1J UJ 0' LU F- O F - z Vl a_ 0 LU v) THIS CERTIFICATE F- U w a z J LL LU F -- F - Q 0 LU L1J 0 L�J L.tJ 1 �1 z O H 0 LLT 0 O U O z LU U N LL_ O LU F:- UJ LT_ F- c UJ U Lai Ln 0 z z O F- U H z 0 U Z O J_ a co l7 F— U LtJ Lu 0 O U z D O U Q J LL! LtJ FW- S 0 z 0 U 0 LU 0 • I r` BUILDING PERMIT NO: USE CLASSIFICATION: C 1 ZONING DISTRICT: \� TYPE OF CONSTRUCTION: WEST OF THE bul P.M. WELD COUNTY, COLORADO , TOWNSHIP _ N, RANGE O F- U w LEGAL DESCRIPTION: F- O J SUBDIVISION: J BUILDING ADDRESS: c 0 ELI 0_ t!1 z t.7 Z ,0 U LU IN I A CONSPICUOUS PLACE C F- LIL L W O1 COLORADO H H Oz va • o ZELI �- C' O Lu to i V N D -JZZ ry LULU J< Z Z f� W - O_ V O F- O H Q 1` N r1 W 0 O' t N W Z LI , O°o© O N W l.7 OW Z ~H HOn r: z�=D 0 i 25u duo CC O V W V .. O O 0 Ow0 0 I-- HVV Z a C) Ham w z=LL1 LL Z O — DO tin tri 2 O a H H W Of Lu' O ../..! tJ, W CC Ill Z O , • WI <L�.. Z V4V 5 /-, U0 Ex OZ .) NHw%, 0 N ' 1• W 0 C" BUILDING PERMIT NO: USE CLASSIFICATION: ZONING DISTRICT: TYPE OF CONSTRUCTION: O O 0 -J V z 0 V Q J u -I ti 'O LU H Ls - 0 Lcs LEI w z 0 z to z 0 z 0 H V W to LEGAL DESCRIPTION: 0 cO H O J SUBDIVISION: , F-1 BUILDING ADDRESS: • w POST IN A CONSPICUOUS PLACE Wine COLORADO April 7, 2009 Garage Storage, LLC 4057 Camelot Circle, Suite B Longmont, CO 80504 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 RE: SCHEDULE NUMBER R5330808 Dear Property Owner: On March 16, 2009, 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, Donald D. Warden, Clerk to the Board B. _At .0 rz %CI G% t Deputy Clerk to the Board cc: Assessor Hello