HomeMy WebLinkAbout20091779.tiff4Roi
Wine
COLORADO
August 19, 2009
PENTA GREELEY LLC
1735 N 1 ST STE 285
SAN JOSE, CA 95112
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO -
ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM
ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R2810486 PARCEL #: 096105314010 - GR 4814
L1 THRU 32 BLK43 TOG WITH VAC E -W ALLEY SITUS: 701 8 ST GREELEY 80631
Dear Petitioner:
On July 31, and August 5, 2009, 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 2009.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
SET BY BOARD
$3,835,000 $3,835,000
2009-1779
AS0073
Oal/O 7
PENTA GREELEY LLC - R2810486
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 notice of 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
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
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
2009-1779
AS0073
PENTA GREELEY LLC - R2810486
Page 3
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,
Cf (L
Esther E. Gesick
Deputy Clerk to the Board
L
ILA
cc: Christopher Woodruff, Assessor
LICHT AND COMPANY INC
9101 E KENYON AVE STE 3900
DENVER, CO 80237
2009-1779
AS0073
Weld Cow
CHRIS WOODRUFF COUNTY ASSESS(
Brenda Dones Deputy Assessor
VALUATION REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
Clarion Hotel
(GREELEY REGENCY HOTEL INC)
PETITIONER
vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0961-05-3-14-010
Schedule Number: R2810486
Log Number: #1989
Date: 07/30/2009
Time: 10:30 am
Board: CBOE
PREPARED BY
APPRAISERS NAME
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_COMM_010
Pag
(Zoe/ 71
SALIENT FACTS AND CONCLUSIONS
Purpose of Appraisal To determine Market Value as of 1/1/09 based on an
appraisal date of 6/30/08.
Property Rights Appraised Unencumbered fee simple interest.
Location 701 8 ST
GREELEY
Land Area 100,000 Square Feet
Zoning GRE CH
Property Type Commercial
1— Hotel
Year Built 1964
Year Remodeled 1987
Quality Average
Class Fireproof Steel
Number of Stories 3
Number of Rooms 148
Improvement Sq. Ft. 113,787
Value Indications:
Land $400,000
Cost Approach $ 4,184,882
Market Approach $ 3,835,000
Income Approach $ 3,955,119
Assessor's Value $3,835,000
CBOE_COMM_0109'.
Page
7 Street
400.0'
•
GflU l\V g
Land
First Floor
Second Floor
Third Floor
Unf Third Floor
60.0'
\'H;O'
-A-
115.0'
100000.0 SF
43468.0 SF
40312.0 SF
30007.0 SF
10402.0 SF
39.6'
173.6'
21.0'
WH 30'
22.2' YWC 1987
Class D
WH 40'
YOC 1964
Class C
86.7'
120.0'
Elevators
Non -Calculated Area
10402.0 SF
180.0'
28.0'
149.0'
114.0'
A
16.0'
12.3'
41.0'
ndoor poo
36.0'
B
69.0118.0'
63.6'
S14:eb ri by ,oce;r ► IT "
I 20.0'
16.7'
8 Street
114.0'
149.0'
12.3'
16.0'
250
41.0'
CBOE_COMM_01 0
Pag
COST APPROACH
LAND VALUE
Sales utilized to establish the value in the subject neighborhood are from 2007 and the first six
months of 2008 for the 2009 assessment date. The comparative sales approach is the most reliable
method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales fron
July 2003 through June of 2008 to establish the proper value, if sufficient information is not available
in the prior 18 months. Also, comparables outside the subject property area may be used. The Wel
County Assessor has an established ongoing sales confirmation and validation program for property
transactions used in developing value.
The land size of the subject is 100,000 square feet. Based upon investigation and
analysis, and considering a size adjustment , it is the opinion of the appraisers that
the value of $4.00 per sq ft accurately reflects the market value of the subject
property.
Comp#1
Comp # 2
Comp #3
Parcel Number/
Location
096105311004
096105227014
096117113001
Sale Date
12/30/2008
11/03/2005
11/22/2005
Adj. Sale
Price
$250,000
$320,000
$429,000
Land Size
30,000
37,916
31,356
Per Sq Ft
$8.33
$5.47
$6.61
Range $5.47 - $8.33
Average $6.83
Median $5.57
ASSESSOR'S INDICATED SUBJECT LAND VALUE
$ 400,000
CBOE_COMM_0109
Page
Cost Approach Summary
PARCEL NUMBER
PROPERTY OWNER
ADRESS
CITY, STATE, ZIP
DATE OF APPRAISAL
OCCUPANCY:
FLOOR AREA (SQ. FT.)
# of Rooms
CLASS:
COST RANK
HEATING AND COOLING
RCN BASIC STRUCTURE
COST
perimeter adj.
wall height adj.
current multiplier
local multiplier
Adjusted RCN Basic Cost
EXTRAS:
Conc.
Asphalt
Swimming Pool
TOTAL RCN
LESS DEPRECIATION
PHYSICAL
FUNCTIONAL
ECONOMICAL
TOTAL ACCRUED DEPREC.
ADD IN LAND VALUE
TOTAL VALUE
VALUE PER ROOM
96105314010
Greeley Regency
Hotel
701 8 Street
Greeley, Colo
06/30/08
Hotel
113,787
148
A&D
Avg
Warm & Cool Air
Zoned
UNITS
113,787
Sq Ft
3,970
41,000
648
0.38
0.10
0.20
NUMBER OF STORIES
AVERAGE STORY
HEIGHT
YEAR BUILT
EFFECTIVE AGE
ESTIMATED LIFE
COST
$102.37
0.916
1.055
1.00
1.04
Cost PSF
$2.80
$1.82
$54.00
$4,494,547
$1,182,776
$2,365,551
3
12
1964 (45°A
1987 (55°A
31
50
TOTAL
$11,648,37
$11,707,02
11,116
74,620
34,992
$11,827,75
$3,784,88',
$400,000
$4,184,88:
$28,27
C BOE_COMM_O1OS
Page
MARKET APPROACH SUMMARY
Real Property for the tax year 2009 must be valued utilizing data for the period one and one-half
years immediately prior to July 1, 2008. If comparable valuation data is not available from such one
and one-half year period to adequately determine the level of value for a class of property, pursuant
39-1-104 (10.2)(c) C.R.S, the Assessor may utilize sales five years prior to July 1, 2008 to establish
the proper value.
The Assessor has appropriately considered the Market Approach to value for the property on appeal
The Sales Comparison Approach was considered in developing a market value for the Subject. Sale
used to establish a market value for the tax year 2009 are from January 1, 2007 through June 30,
2008. All sales have been confirmed and verified through transfer declarations as well as interviews
with buyers, sellers or their representatives to the sale. All sales used are arm's length transactions,
and considered to be the most comparable properties sold in relationship to the Subject property.
Based upon investigation and analysis, it is the opinion of the appraisers that the
value of $25,912 per room accurately reflects the market value of the subject
property.
VALUE As INDICATED BY THE MARKET APPROACH
$3,835,000
CBOE_COMM_0109
Page
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COMPARATIVE SALES APPROACH
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95924100079
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3301 W Service Rd
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$3,835,000 or $25,912 per room
Subject Value:
7 Street
co
4000'
Land 100000 0 SF
First Floor 43468.0 SF
Second Floor 40312.0 SF
Third Floor 30007.0 SF
Unf Third Floor 10402.0 SF
39 5'
173 5'
1200'
WH 40'
YOC 1964 ❑-Elevators
Class C
86.7' 0
Non -Calculated Area
10402.0 SF
21.0'
149.0'
WH 30'
22.2' YOC 1987 0
Class D
,l:i
Indoor p ool
38 '
59.0'
28.0'
180.0'
20 0'
114.0'
16.0'
12.3'
41.0'
53.5'
114.0'
0
149 0'
12.3'
16 0'
--
41 0'
5 7'
8 Street
Sketch by Alex IV"'
COMPARABLE SALE #1 (Subject) COUNTY: WELD
ACCOUNT
PRIMARY OCC:
SECONDARY OCC:
ADDRESS:
R2810486
Hotel
701 8 ST, GREELEY
RECEPT NUMBER: 3536261
GRANTOR: GREELEY REGENCY HOTEL INC
GRANTEE: PENTA GREELEY LLC
YEAR BUILT: 1987
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF):
WALL HEIGHT:
STORIES:
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
100.000
113.787
12
3
GRE CH
Average
PARCEL NUMBER: 096105314010
PERCENT: 100%
PERCENT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
Sale price per room:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
COMMENTS: The subject has 148 rooms selling for $25,912 per room.
2/19/2008
$4..000,000
$3,835,000
D
0.88
$360,000
$30.53
$33.70
$25,912
250.0
CBOE_COMM _010'
Pag,
Motel
COMPARABLE SALE #2
ACCOUNT
PRIMARY OCC: Motel
SECONDARY OCC:
R3868086
ADDRESS: 3015 8 AV. EVANS
RECEPT NUMBER: 3557843
GRANTOR: GREELEY INN AND SUITES INC
GRANTEE: AMCAN LODGING PARTNERS LLC
YEAR BUILT: 1981
EFFECTIVE AGE: 14
LAND SIZE (SF): 81040
BLDG SIZE (SF): 26,676
WALL HEIGHT: 9
STORIES: 2
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
Average
r
�O
3688 0 sq. R.
Second Floor
3686 0 sq rt
07.0'
38 0'
Skdch by Apex IV"
L..
Pool
32 0'
Bit 1981
Class D
Warm 8 Cool Air Zoned
J
38.0'
First Floor
2774 0 sq tt
Second Floor
2774.0 sq. R.
730'
0
First Floor
3686.0 sq. R.
Second Floor
3686 0 sq. R
97.0'
38.0'
MerhA.oundry rooms
r
Balcony 18401.0 sq. tt.
COUNTY: WELD
PARCEL NUMBER: 096120208016
PERCENT: 100%
PERCENT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
SALE PRICE/ROOM:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
5/29/2008
$2,500,000
$2,387,200
D
3.11
$166,080
$82.62
$88.84
$25,396
I
84.0'
First Hoot 31920 sq. R.
Second Floor 3182 0 sq. ft.
0
of
COMMENTS: The sales price of $2,500,000 less FF&E of $112,800 equals the adjusted sales price of $2,387,200. The subject has
94 rentable rooms selling for $25,396 per room.
CBOE_COMM _010E
Page
i* 'to
‘4
I
.0
COMPARABLE SALE #3
ACCOUNT
PRIMARY OCC:
SECONDARY OCC:
ADDRESS:
R3882086
Hotel - Full Service
3301 W SERVICE RD, EVANS
20.0'
2e.o' 1001 10.0'
6A'
2
24.0'
100'
48.0
2
36.0'
138O
50.0'
00
Sketch by Alex NYgrdo•s"
10
First Floor Second Floor Bsmt Storage
30,517.0 sf 17,604.0 sf 21605.0 sf
Hotel
Class C
9.0 story height
Hot & Chilled Water
Blt 1964
73 Rooms
13O
54.0'
2B
42 n
78.0'
640
54.0'
Concrete Slab
2268.0 sf
66.0'
13.0'
Meeting Rooms
1B
concrete slab Lounge
720.0 0
640'
1B
28
Restaurant
�o eP
136.0' 9.0' m 1za 7a3 38.0'
19.0' 20,0' 2.0'
Canopy
340 2036.0 sf
JJ ee0
COUNTY: WELD
PARCEL NUMBER: 096120306018
PERCENT: 100%
PERCENT:
RECEPT NUMBER: 3390485 SALE DATE:
GRANTOR: EVANS HOSPITALITY SERVICES LLC SALE PRICE:
GRANTEE: PARK HAE CROON & ADJ SALE PRICE:
YEAR BUILT: 1964
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF):
WALL HEIGHT: 9
STORIES: 2
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
341,321
48,121
Average
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
Sales price per room:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
4/28/2006
$1,530,000
$1,442,400
C
7.09
$346,441
$22.77
$29.97
$19,759
31.0'
78.0
Ktchen
38.0'
400'
First Flour
COMMENTS: The subject sold previously on 8/2005. It was a bank foreclosure sale at that time and was in poor
condition with an unstable income history. The subject had minor remodeling done and then resold 4/28/2006 for
$19,759 per room. The subject has 73 rooms and sold with no income history for the past 2 %2 years.
x
71
CBOE_COMM_010 .
Page
COMPARABLE SALE #4
ACCOUNT NUMBER: R0134695
PRIMARY OCC: Motel
ADDRESS: 2467 W 29 ST GREELEY
RECEPT NUMBER: 3493941
GRANTOR: PATEL TUSHAR R &
GRANTEE: KHAN USAE LLC
YEAR BUILT: 1997
EFFECTIVE AGE: 1999
LAND SIZE (SF): 43,200
BLDG SIZE (SF): 27,510
WALL HEIGHT:
STORIES: 3
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
Average
5 0'
72U
Manager using Quarters
24' x 48'
24
Canopy
S450SF
b
cr
410
+�r
53 7
Pool Area
Exercise Area
109P
First Floor 9694 0 S F 12 Room & 1 Mgr Apt
Second Floor 8908 0 S.F. 18 Rooms
Third Floor 8908 0 S F 20 Rooms
Total 27510 S F 50 Rooms & 1 Mgr Apt
Sketch by Apt: IV"
COUNTY: WELD
PARCEL NUMBER: 095924100083
PERCENT: 100%
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
Sale Price per Unit:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
7/27/2007
$3,000,000
$2,932,000
D
1.57
$270,000
$96.76
$106.57
$58,640
PoolE
1oa
0
m
to12.P
;4
4.P
0
Blt 1997
Wood Frame
WH 28'
Heat Pumps Individual Units
COMMENTS: The subject property is a 3 story Hotel with 50 units, a manager's apartment, dining lounge, pool area
and exercise area. Selling for $58,640 per unit.
CBOECOMM _010E
Page
• ,L
_1 1. '
L
r,
COMPARABLE SALE #5
ACCOUNT
PRIMARY OCC: Motel
SECONDARY OCC:
THIRD OCC:
R0329194
ADDRESS: 2423 W 29 ST GREELEY
RECEPT NUMBER: 3428407
GRANTOR: S & S LODGING DEVELOPMENT LLC
GRANTEE: JANIGA MARIA &
YEAR BUILT:
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF):
WALL HEIGHT:
STORIES:
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
COMMENTS:
i
Parking Lot 61' X 250'
Concrete Pang
1745'
Fret Floor 9094 6 SF
Second Floor 9094.6 SF
Total 18190 SF
49 Rentable Rooms
1792'
4T
h
sach by h•u
COUNTY: WELD
PARCEL NUMBER: 095924100079
PERCENT: 100%
PERCENT:
PERCENT:
SALE DATE: 10/18/2006
SALE PRICE: $1,800,000
ADJ SALE PRICE:
1994 CLASS:
LAND/BLDG RATIO:
40,075 LAND VALUE:
18,190 IMPS PRICE/SF:
10 SALE PRICE/SF:
2 Sales price per room:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
D
2.20
$200,375
$87.93
$98.95
$36,735
Average
SUPER 8 MOTEL WITH A TOTAL OF 49 ROOMS. SELLING PRICE PER ROOM $36,735.
24 T
Canopy
701 8SF
200'
CBOE_COMM Oil
Page
I&E Year
I&E Date
Average Daily Rate
Potential Gross Income
Occupancy
Effective Gross Income:
Room expenses (16.2%)
Food & Beverage (23.4%)
Telephone (1.4%)
Administrative & General (9.1%)
Franchise Fees (0.8%)
Marketing & Guest Entertain (5.9%)
R/R (3%)
Prop Oper & Maintenance (5.1%)
Enegy Cost (5.0%)
Management Fees (2.3%)
Insurance on Bldg (.08%)
Total Expense (65%)
NOI before personal property
less: Return on personal property
NOI
Cap Rate
Indicated value w/ Personal Property
Less Personal Property
Indicated Value
Indicated Value/Room
ADR 2007-2008
PERFORMANCE
2007-2008
12/31/08
$65.00
$3,511,300
50%
$1,755,650
$284,415
$410,822
$24,579
$159,764
$14,045
$103,583
$52,670
$89,538
$87,783
$40,380
$14,045
$1,281,625
$474,026
$19,481
$454,545
11.0%
$4,132,223
$177,104
$3,955,119
$26,724
Ratios
100.00%
(177,104 x
CBOE_COMM_010998
Page 14
FINAL RECONCILIATION
After consideration of the cost, market and income approaches, it is the Weld County Assessor's
opinion that the value of $3,835,000 , most accurately reflects the value of the subject property in
Weld County for the 2009 tax year.
COST APPROACH MARKET APPROACH INCOME APPROACH
$4,184,882 $3,835,000 $3,955,119
ASSESSOR'S VALUE
Total:
Improvements
Land
$3,435,000
400,000
$ 3,835,000
CBOE_COMM_O1(
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COMMERCIAL
3,835,000
3,835,000
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff
WELD Assessor
1400 N 17th Ave
GREELEY, CO 80631
Date of Notice: 6/24/2009
Telephone: (970) 353-3845
Fax: (970) 304-6433
Office Hours: 8:00 AM - 5:00 PM
HEDULElACt QUt
TAXYt ?
TAX
R2810486
2009
2689
PENTA GREELEY LLC
1735 N 1 ST STE 285
SAN JOSE, CA 95112
4:
GR 4814 L1 THRU 32 BLK43 TOG WITH
VAC E -W ALLEY SITUS: 701 8 ST GREELEY
80631
701 8 ST
GREELEY, CO 80631
VALUATION
ACTUAL VALUE AFTER
$3,835,000
$3,835,000
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:
CM05 - The law requires that all of 2007 and the first 6 months of 2008 data be used to establish
current values. We have considered all (3) three approaches to value in arriving at your current
valuation. We have denied your appeal based upon this data.
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.
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LICHT & COMPANY
9101 E KENYON AV STE 3900
DENVER CO 80237
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County Board of Equalization Hearings will be held from
July 1 through August 5 at
91510[° Street, Greeley, CO
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail or deliver a copy of both sides of this form to:
WELD COUNTY BOARD OF EQUALIZATION
915 10TH Street, P.O. Box 758
Greeley, Colorado 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 11.
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 9`" Avenue and 9`h Street, P.O. Box C
Denver, CO 80203 Greeley, Colorado 80632
(303) 866-5880 Telephone (970) 356-4000 Ext. 4520
www.dola.coloradaciov/baa
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.
NETT
What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in
terms of a specific dollar amount is required r r, eal prfleerty pursuant to § 39-8-106(1.5), C.R.S.)
What is the basis for your estimate of value or your reason for requesting a review? (Please
attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent
roll, original installed cost, wpraisal, etc.) �j [ D
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! ATTESTATION
I, the undersigned owner or agent' of the property identified above, affirm that the statements
conta' d he in and on any attachments reto,are true and complete.
Qem, 03)S 75 930 7/909
Signature tAt t on„ ferwv jhh, Te ephone Number Date
1 Attach letter of authorization signed by property owner.
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NOD #: 3065
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APPOINTMENT OF AGENT
April 16, 2009
Licht & Company, Inc. is authorized to represent PENTA GREELEY, LIE in property tax valuation
matters for tax years 2009 and 2010. Please contact Licht & Company regarding all property tax issues.
The property is indicated below:
701 8th Street
Weld County Schedule A 82810406
AGENT: tat & Company, Inc.
9101 E. Kenyon Anne, Suite 3900
Denver, CO 60237
Phone: (303) 575-9306
Par (303) 575-93077 p/
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Signature
Name: IAakesh MoUU-ji
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Phone Number. (4V3) 54'3 — 12 I
State of l�l
County of San'zt Cta,R_
The foregoing instrument was acknowledged before me this `Q jr12ay of
by W u&K th • (o0 L.
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1y177VESS my hand and official seal
Notary Pub a 15
CATHY A. BARKLEY
Commission # 1565531
Notary Public - California t
Santa Clara County
My Comm. Expires Apr 28, 2009
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2004.
My commission expires: `i ` JX - y
LICHT 8 COMPANY
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INCORPORATED
July 9, 2009
Weld County Board of Equalization
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Re: Schedule Number: R2810486
Address: 701 8th Street
To Whom It May Concern:
We have enclosed the aforementioned schedule number for your review.
We hereby appeal the Notice of Determination and request a Board of Equalization
hearing. Please call me at (303) 575-9306 to coordinate a hearing time. We are trying
to work with several counties and would like to be present at the hearing.
Thank yoot
Chris Barnes
Enclosures
9101 E. Kenyon Avenue • Suite 3900 • Denver, Colorado 80237 • Phone 303.575.9306 • Fax 303.575.9307
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
COLORADO
July 16, 2009
PENTA GREELEY LLC
1735 N 1 ST STE 285
SAN JOSE, CA 95112
Parcel No.: 096105314010 Account No.: R2810486
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 30, 2009, at or about the hour of
10:30 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld
County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor or his designee will be present. The Board will make its decision on the basis of
the record made at the aforementioned hearing, as well as your petition, so it would be in your
interest to have a representative present. If you plan to be represented by an agent or an attorney
at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an
authorization for the agent or attorney to represent you. If you do not choose to attend this hearing,
a decision will still be made by the Board by the close of business on August 5, 2009, and mailed to
you on or before August 12, 2009.
Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15
minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide
evidence to support your position. This may include evidence that similar homes in your area are
valued less than yours or you are being assessed on improvements you do not have. Please note:
The fact that your valuation has increased cannot be your sole basis of appeal. Without
documented evidence as indicated above, the Board will have no choice but to deny your appeal.
If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a
written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call
(970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated
cost of providing such information. Payment must be made prior to the Assessor providing such
information, at which time the Assessor will make the data available within three (3) working days,
subject to any confidentiality requirements.
PENTA GREELEY LLC - R2810486
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
LICHT AND COMPANY INC
9101 E KENYON AVE STE 3900
DENVER, CO 80237
Esther Gesick
From:
Sent:
To:
Cc:
Subject:
Esther,
Chris Barnes [chris@lichtco.com]
Thursday, July 30, 2009 7:55 AM
Esther Gesick
Charles Jack
701 8th Street, R2810486
As we discussed yesterday, we hereby request an administrative denial for the property listed above. Our hearing was
scheduled for July 30, 2009 at 10:30 am. Please contact me with any questions.
Thanks,
Chris
Chris Barnes
Licht & Company, Inc.
9101 E. Kenyon Avenue, Suite 3900
Denver, Colorado 80237
Phone: (303) 575-9306
Fax: (303) 575-9307
e-mail: chrislichtco.com
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