HomeMy WebLinkAbout20092182.tiff(\ar
Wilk
COLORADO
August 21, 2009
HOUSTOUN JOHN M REV LIVING TRUST(1/2) &
8962 CR 74
WINDSOR, CO 80550
Dear Petitioner(s):
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Parcel No.: 080704000038 Account No.: R0277293
Based upon information furnished to the Weld County Board of Equalization, we understand that
you have withdrawn the petition challenging the valuation of the above PIN number. Please be
informed that a withdrawn petition precludes any further challenge to the valuation of the above PIN
number for this assessment period. Therefore, the Board of Equalization took no action on your
petition and the assessed value remains as set by the Assessor.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2009-2182
Y)t-9 C_i r u )
AS0073
O2 47 QICri
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
SCHEDULE/ACCOUNT NO.
TAX YEAR
TAX AREA
LEGAL DESCRIPTION/ -
PHYSICAL LOCATION
R0277293
2009
0405
PT NE4 4-6-67 LOT A 2ND AMD REC
EXEMPT RE -326 8962 74 CR WELD
8962
WELD, OR
CO
PROPERTY OWNER
HOUSTOUN JOHN M REV LIVING TRUST(1/2) &
8962 CR 74
WINDSOR, CO 80550
PROPERTY CLASSIFICATION
ASSESSOR'S VALUATION
ACTUAL VALUE PRIOR
TO
REVIEW
ACTUAL VALUE AFTER
REVIEW
RESIDENTIAL
1,144,223
1,144,223
TOTAL
$1,144,223
$1,144,223
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:
LHO2 - No change has been made to the valuation of this property. Colorado law requires us to send
this notice of denial for all properties on which we do not adjust the value.
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.
2009-2182
15 -,OPT -AR
U.1 PR 207-08/08
W NOD *:1769
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from
July 1 through August 5 at
915 10th Street, Greeley, CO
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail or deliver a copy of both sides of this form to:
WELD COUNTY BOARD OF EQUALIZATION
915 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 9Street, P.O. Box C
Denver, CO 80203 Greeley, Colorado 80632
(303) 866-5880 Telephone (970) 356-4000 Ext. 4520
www.dola.colorado.qov/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.
PETITION TO COUNTY BOARD OF EQUALIZATION
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 for real property pursuant to § 39-8-106(1.5), C.R.S.)
$%'s C O
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, appraisal, etcj /
i/rt A retieAr✓lc�Ai/ 15 zc-05, rtiJ c4 -}AR -1 i IS GN oz'('
A')5`' )11 i�•*- �' /7(' 7;y. 'Y�r��% LinI/V(9 /5 /Lj::i`; JAS ✓ .7!''.rC'._
i S A it I-1 L P
J`, � 721 a. 611 C': c r �'_l �^O7C°r,'�/
ATTESTATION
I, the undersig owner or agent' of the property identified above, affirm that the statements
n any attachmentst ereto atrue and complete.
17e Z(9 ??:37.5-5"112 -L-S-- 67
Telephone Number Date
Signature
'Attach letter of authorization signed by property owner.
15 -OPT -AR
PR 207-06/06
NOD* 1769
V
*rri
WIk
COLORADO
September 15, 2008
Subject: Recorded Exemption (3 AmRE-326) C o A -
Dear Applicant:
DEPARTMENT OF PLANNING SERVICES
918 Tenth Street
GREELEY, COLORADO 80631
WEBSITE: www.co.weld.co.us
E-MAIL: kogle@co.weld.co.us
PHONE (970) 353-6100, EXT. 3549
FAX (970) 304-6498
The Department of Planning Services' has reviewed your application and related materials for compliancy
with the Weld County Code. We find that your proposed Recorded Exemption meets the intent of the
Code and it has been conditionally approved by staff. We have enclosed our comments for your case.
If applicable, please address all issues identified in the staff comments. Prior to submitting the Mylar,
please submit two (2) paper copies of your plat for review by the Department of Planning Services' staff.
Upon approval of the paper copies please submit a Mylar plat along with all other documentation required
as conditions of approval. The Mylar plat shall be recorded in the office of the Weld County Clerk and
Recorder by Department of Planning Services' Staff. The plat shall be prepared in accordance with the
requirements of Section 24-8-60 of the Weld County Code. The Mylar plat and additional requirements
shall be submitted within sixty (60) days after the date the Administrative Review was signed or after the
date of the Board of County Commissioners resolution. There is an eleven (11) dollar recording fee per
Mylar sheet that you will be responsible for paying to record the plat.
If you need any further information, please feel free to contact me at the above address, telephone
number or e-mail address.
Sincerely,
Kim O
Planner
DEPARTMENT OF PLANNING SERVICES
RECORDED EXEMPTION
ADMINISTRATIVE REVIEW
COLORADO
Applicants:
John & Wendy Houstoun
David & Elizabeth Schump
3r° AmRE-326
Planner: Ogle
Legal Description:
Lot A and Lot B of 2nd AmRE-326, being part N2 NE4 Section 4, T6N,
R67W of the &h P.M., Weld County, CO.
Parcel ID #:
0807-04-0-00-038 and 0807-04-0-00 050
Lot A Size:
11.5 +/- acres
Lot B Size:
N/A +/- acres
Water Source:
North Weld County Water District
Meter Number 238 000
Sewer System:
ISDS Septic
Permit #
G19890020
Criteria Checklist
Yes No
X
1. Conforms with Chapter 22 of the Weld County
Code and any adopted municipal plan.
X 2. Compatible with the existing surrounding land uses.
X 3. Consistent with the intent of the zone district
X 4. Consistent with efficient and orderly development.
X 5. Complies with Recorded Exemption standards in
Section 24-8-40 of the Weld County Code.
X 6. Provides for adequate protection of the health, safety, and welfare of the
inhabitants of the neighborhood and the County.
This application is intended to amend an existing Recorded Exemption Lot to conform with the
reconfigured / realigned right-of-way for County Road 74.
Approved with Conditions
The Weld County Department of Planning Services has determined through an administrative review that
the standards of Section 24-8-40 of the Weld County Code have been met. This Recorded Exemption is
approved with the following conditions in accordance with information submitted in the application and the
policies of Weld County.
•
Va
1. Prior to recording the plat:
The plat shall be titled: 3rd Amended Recorded Exemption No. 0807-04-1 3rdAMRE-326
Lot A shall use the existing residential access point as no additional accesses shall be
granted.
All approved accesses shall be clearly shown on the plat. The applicant shall contact the
Weld County Department of Public Works to determine if a culvert is necessary at any
approved road access point. If a drainage culvert is required, a 15 inch Corrugated Metal
Pipe (CMP) is Weld County's minimum size. If the applicant chooses to place a larger
culvert please contact the Weld County Department of Public Works to adequately size the
culvert.
j0 County Road 74 is designated on the Weld County Road Classification Plan as a Strategic
Roadway, which requires 140 feet of right-of-way at full build out. There is presently 60 feet
of right-of-way. An additional 40 feet shall be delineated on the plat as future County Road
74 right-of-way. All setbacks shall be measured from the edge of future right-of-way. The
applicant shall verify the existing right-of-way and the documents creating the right-of-way.
If the right-of-way cannot be verified, it shall be dedicated. This road is maintained by Weld
County.
County Road 19 is designated on the Weld County Road Classification Plan as a major
arterial, which requires 140 feet of right-of-way at full build out. There is presently 60 feet of
right-of-way. An additional 40 feet shall be delineated on the plat as future County Road 19
right-of-way. All setbacks shall be measured from the edge of future right-of-way. The
applicant shall verify the existing right-of-way and the documents creating the right-of-way.
If the right-of-way cannot be verified, it shall be dedicated. This road is maintained by Weld
County.
F. Road Access Policy: (Policy Established Sec. 8-2-10) Direct access from a public road
will be limited to one (1) per legal parcel, except as further limited or restricted by zoning or
subdivision regulations. Additional accesses may be approved by the Department of Public
Works or the Board of County Commissioners. This policy shall apply to all new and
existing accesses within the unincorporated areas of the County. Properties within
municipalities or other counties which access County roads are subject to this policy.
The applicant shall attempt to address the requirements of the Windsor Severance Fire
Protection District as stated in the referral response dated August 20, 2008. Evidence of
such shall be submitted in writing to the Weld County Department of Planning Services.
All vehicles located on the property must be operational with current license plates, or be
screened from all adjacent properties and public rights of way, or be removed from the
property. All other items considered to be part of a noncommercial junkyard must also be
removed from the property or screened from adjacent properties and public rights -of -way.
Lot A shall comply with the one (1) acre net minimum lot size required by Section 24-8-40.L
of the Weld County Code. Net acreage calculations should not include reserved road right-
of-way.
J. The following notes shall be placed on the plat:
1) All proposed or existing structures will or do meet the minimum setback and offset
requirements for the zone district in which the property is located. Pursuant to the
definition of setback in the Weld County Code, the required setback is measured
from the future right-of-way line.
No building or structure as defined and limited to those occupancies listed as Groups
A, B, E, F,H, I, M and R in Section 302.1 of the 2003 International Building Code,
shall be constructed within a 200 -foot radius of any tank battery or within a 150 -foot
radius of any wellhead. Any construction within a 200 -foot radius of any tank battery
or 150 -foot radius of any wellhead shall require a variance from the terms of the
Section 23-3-10 of the Weld County Code.
2) Any future structures or uses on site must obtain the appropriate zoning and building
permits.
3) Prior to the release of building permits, the applicant shall submit a recorded deed
describing the Lot upon which the building permit is requested with the building
permit applications. The legal description on such deed shall include the Lot
designation and Recorded Exemption number.
4) Prior to the release of building permits, the applicant shall submit evidence to the
Department of Planning Services that Lot A has an adequate water supply of
sufficient quality, quantity and dependability.
5) Prior to the release of building permit, the applicant shall submit evidence of approval
from the Windsor -Severance Fire Protection District to the Weld County Building
Department.
6) Should noxious weeds exist on the property or become established as a result of the
proposed development the applicant/landowner shall be responsible for controlling
the noxious weeds, pursuant to Chapter 15, Articles I and II of the Weld County
Code.
7) Effective January 1, 2003, Building Permits issued on the proposed lots will be
required to adhere to the fee structure of the County Road Impact Program.
(Ordinance 2002-11)
8) Effective August 1, 2005, Building permits issued on the subject site will be required
to adhere to the fee structure of the Capital Expansion Impact Fee and the
Stormwater/Drainage Impact Fee. (Ordinance 2005-8 Section 5-8-40)
9) The property owner acknowledges that mineral owners and lessees have real
property interests that entitle them to surface use in accordance with Colorado State
Statutes and applicable Colorado oil and Gas. Conservation Commission regulations.
(Department of Planning Services)
10) WELD COUNTY'S RIGHT TO FARM: Weld County is one of the most productive
agricultural counties in the United States, ranking fifth in total market value of
agricultural products sold. The rural areas of Weld County may be open and
spacious, but they are intensively used for agriculture. Persons moving into a rural
area must recognize and accept there are drawbacks, including conflicts with
longstanding agricultural practices and a lower level of services than in town. Along
with the drawbacks come the incentives which attract urban dwellers to relocate to
rural area: open views, spaciousness, wildlife, lack of city noise and congestion, and
the rural atmosphere and way of life. Without neighboring farms, those features
which attract urban dwellers to rural Weld County would quickly be gone forever.
Agricultural users of the land should not be expected to change their long-established
agricultural practices to accommodate the intrusions of urban users into a rural area.
Well run agricultural activities will generate off -site impacts, including noise from
tractors and equipment; slow -moving farm vehicles on rural roads; dust from animal
pens, field work, harvest, and gravel roads; odor from animal confinement, silage,
and manure; smoke from ditch burning; flies and mosquitoes; and the use of
pesticides and fertilizers in the fields, including the use of aerial spraying. Ditches
and reservoirs cannot simply be moved out of the way of residential development
without threatening the efficient delivery of irrigation to fields which is essential to
farm production.
Section 35-3.5-102, C. R. S., provides that an agricultural operation shall not be
found to be a public or private nuisance if the agricultural operation alleged to be a
nuisance employs methods or practices that are commonly or reasonably associated
with agricultural production.
Weld County covers a land area of over 4,000 square miles in size (twice the State of
Delaware) with more than 3,700 miles of state and County roads outside of
municipalities. The sheer magnitude of the area to be served stretches available
resources. Law enforcement is based on responses to complaints more than on
patrols of the county and the distances which must be traveled may delay all
emergency responses, including law enforcement, ambulance, and fire. Fire
protection is usually provided by volunteers who must leave their jobs and families to
respond to emergencies. County gravel roads, no matter how often they are bladed,
will not provide the same kind of surface expected from a paved road. Snow removal
priorities mean that roads from subdivisions to arterials may not be cleared for
several days after a major snowstorm. Snow removal for roads within subdivisions
are of the lowest priority for public works or may be the private responsibility of the
homeowners. Services in rural areas, in many cases, will not be equivalent to
municipal services. Rural dwellers must, by necessity, be more self-sufficient than
urban dwellers.
Children are exposed to different hazards in the county than in an urban or suburban
setting. Farm equipment and oil field equipment, ponds and irrigation ditches,
electrical power for pumps and center pivot operations, high speed traffic, sand burs,
puncture vines, territorial farm dogs, and livestock present real threats to children.
Controlling children's activities is important, not only for their safety, but also for the
protection of the farmer's livelihood. Parents are responsible for their children.
2. The applicant shall submit two (2) paper copies of the plat for preliminary approval to the Weld
County Department of Planning Services. Upon approval of the paper copies the applicant shall
submit a Mylar plat along with all other documentation required as conditions of approval. The
Mylar plat shall be recorded in the office of the Weld County Clerk and Recorder by Department of
Planning Services' Staff. The plat shall be prepared in accordance with the requirements of
Section 24-8-60 of the Weld County Code. The Mylar plat and additional requirements shall be
submitted within sixty (60) days from the date the Administrative Review was signed. The applicant
shall be responsible for paying the recording fee.
3. In accordance with Weld County Code Ordinance 2005-7 approved June 1, 2005, should the plat
not be recorded within the required sixty (60) days from the date the Administrative Review was
signed a $50.00 recording continuance charge may be added for each additional 3 month period.
4. The Department of Planning Services respectfully requests the surveyor provide a digital copy of
this Recorded Exemption. Acceptable CAD formats are .dwg, .dxf, and .dgn (Microstation);
acceptable GIS formats are ArcView shapefiles, Arclnfo Coverages and Arclnfo Export files format
type is .e00. The preferred format for Images is .tif (Group 4). (Group 6 is not acceptable). This
digital file may be sent to mapsco.weld.co.us.
5. The Weld County Department of Planning Staff's approval of this Recorded Exemption Application
is based on satisfying the Conditions of Approval. Should an applicant be unwilling or unable to
meet any one of these conditions within 60 days of approval, then this case will be forwarded to
the Weld County Board of County Commissioners with a staff recommendation for denial.
By
Date September 10, 2008
MAR -06-2009 FRI 06:23 AM WELD COUNTY PLANNING
FAX NO. 970 304 6498 P. 06 p'D
Windsor -Severance
Fire Protection District
August 20, 2008
Weld County Planning Dept.
918 10`h Street
Greeley, Co
80631
Weld CountyPlanning Department
GREELEY OFFICE
AUG 25 n um
RECEIVED
Attn: Kim Ogle
Re: 3rd ArnRE-326 Lot A John & Wendy Houstoun, David. & Elizabeth Schump •
1. The District prefers that each individual lot have its own access; accesses shall be
designed to carry a designed wheel load of 18000 pounds (80000 pound GVW)
(H2O loading).
2. Shared access easement agreements are acceptable as long as they are part of the
recorded. documents.
3. The accesses shall be constructed of a permanent all weather road base.
4. Addresses shall be posted clearly on the road fronting the property.
5. Addresses shall be posted clearly on the house.
6. Buildings that are located more than 150' from an approved access roadare
subject to alternative requirements.
If you have any questions, please contact me at 686-9596 EXT 305.
Cordially�f ��f --
Mike L Davis
Fire Marshal/Division Chief
Fire Prevention Division
ph 970,686.9596 • lie 970.686.9623 • 100 7O Srrect • Windsor, Colorado 80550
• mww.windsnr-srvcrunceF'irr.nrp
Summary Appraisal Report -Eminent Domain
HOUSTOUN RESIDENTIAL PROPERTY
WCR 74 Road Realignment Project, Windsor, Colorado
PREPARED FOR:
Ken Lind, Esq.
Lind, Lawrence and Ottenhoff LLP
355 Eastman Park Drive, Suite 200
Windsor, Colorado 80550
PREPARED BY:
Alan A. Axton
Axton Realty Consulting, Inc.
801 8th St., Suite 220
Greeley, Colorado 80631
PROJECT LOCATION:
PARCEL NO.:
OWNER:
APPRAISER:
DATE OF VALUATION:
DATE OF REPORT:
CR 74 and CR 19, Weld County, Colorado
Parcel 3
John and Wendy Houstoun
Alan A. Axton
May 12, 2006
June 26, 2006
Axton Realty Consulting, Inc.
A Professional Real Estate Valuation Service
Greeley Office: 801 8th Street, Suite 220, Greeley, CO 80631
Telephone: 970 352 1115, Fax: 970 330 1115, email: arconsulting@qwest.net
June 26,2006
Ken Lind, Esq.
Lind, Lawrence and OttenhoffLLLP
355 Eastman Park Drive, Suite 200
Windsor, Colorado 80550
RE: Project: WCR 74 Realignment Project, Weld County Public Works
PARCEL NO.: Parcel 3
LOCATION: NWC WCRs 19 and 74, north of Windsor, Colorado
OWNER: John and Wendy Houstoun
Mr. Lind:
This is my eminent domain appraisal report for the referenced property with an effective date of appraisal and
valuation as of May 12, 2006. The purpose of this appraisal is to provide a compensation estimate for the
reasonable market value of the property actually taken; compensable damages, if any, to the residue; and specific
benefits, if any, to the residue. The development of my appraisal is contained in the attached summary appraisal
report which sets forth my conclusions, supporting data, and reasoning.
I understand that this appraisal may be used in connection with the acquisition of right-of-way for the referenced
project to be constructed by Weld County with the assistance of Federal -aid highway funds. If necessary, this report
with supporting data, analyses, conclusions, and opinions is to serve as a basis for court testimony for condemnation
trial purposes. This appraisal report could become a public record after final settlement with the owner or after the
conclusion of legal proceedings.
The reasonable market value and compensation estimate are subject to certain definitions, assumptions and limiting
conditions, and certification of appraiser set forth in the attached appraisal report. Based upon my independent
appraisal and exercise of my professional judgment, my compensation estimate for the acquisition as of May 12,
2006, is $180,534.
Sincerely,
Alan A. Axton
Colorado Certified General Appraiser #COO01313913
Specializing in the Appraisal of Commercial, Land, Water, Farms and Ranches of the Rocky Mountain Region
2
Table of Contents
INTRODUCTION
Tile Page
Letter of Transmittal
Table of Contents 3
Executive Summary 4
Certification of Appraiser 7
Extraordinary Assumptions 9
Hypothetical Conditions 9
General Assumptions and Limiting Conditions 9
Identity of the Client and Intended Users 11
Intended Use of the Appraisal .11
Real Property Interest Appraised 11
Definition of Reasonable Market Value 11
Effective Date of Appraisal 11
Date of Appraisal Report 11
Date of Property Inspection and Owner Accompaniment 11
Project Identification and Description .11
Right -of-Way Plans Relied on for Valuation Purposes 12
Purpose of the Appraisal 12
Data Search Parameters and Analysis Approaches 13
Summary of Appraisal Problems 14
Definitions 14
PART 2 — FACTUAL DATA — LARGER PARCEL BEFORE TAKE 15
Identification of Larger Parcel before Take 15
Property Data - Larger Parcel before Take 16
PART 3 — ANALYSIS AND VALUATION — LARGER PARCEL BEFORE TAKE 22
Highest and Best Use - Larger Parcel before Take 22
Appraisal Valuation Methodology 23
Land/Site Valuation — Larger Parcel before Take 23
Summary of Value of Parts) Taken 36
PART 6 — RESIDUE VALUE BEFORE TAKE 37
PART 7 - FACTUAL DATA - RESIDUE AFTER TAKE 37
PART 8 - ANALYSIS AND VALUATION - RESIDUE API _ ER TAKE 37
PART 9 - ACQUISITION ANALYSIS OF DAMAGES AND/OR BENEFITS 38
PART 10 - TEMPORARY EASEMENT(S) RENTAL VALUE 39
PART 11 - COMPENSATION SUMMARY 39
I
Executive Summary
Pared Number.
3
Name of Owner(s):
John and Wendy Houstoun
Name of Tenant(s)
Not Applicable
Property Address or Location:
8962 WCR 74, Windsor, Colorado 80550
Project Location:
Intersection ofCRs 74 and 19 about 3 miles north of Windsor
Owner Present at Inspection (If not,
document efforts made. List all
attendees that were present.):
Yes
Property Interest Appraised:
Fee Simple
Effective AppraisaWalue Date:
May 12, 2006
Date of Appraisal Report:
June 26, 2006
Summary of Environmental Concerns:
None
Larger Parcel Land/Site Area:
15 acres
Owner Off -Premise Sign Site:
None
Owner Improvements (Buildings,
structures, etc.):
Main dwelling, rental house, pool, pool house, landscaping
Owner Fixtures:
None impacted by project
Owner Trade Fixtures (Real property):
None impacted by project
Owner On -Premise Signs:
None
Tenant Improvements (Buildings,
structures, etc.):
None impacted by project
Tenant Fixtures
None impacted by project
Tenant Trade Fixtures (Real property):
None impacted by project
Tenant On -Premise Sign(s):
None
Tenant Off -Premise Sign(s):
None
Subject Use History:
Excellent quality rural residential tract
Owner or Tenant Occupancy:
Owner
Subject 5 -Year Sales History:
None
Zoning:
A -Agriculture, Weld County
Highest/Best Use before Take:
Rural residential
Highest/Best Use after Take:
Rural residential
Parcels/Easements being acquired:
Parcel3
Purpose for Part(s) Taken:
Virgin alignment of new WCR 74: Parcel 3 is 3.0488 acres
Purpose of Easement(s):
None
Purpose/Use of Temporary
Easement(s):
N/A
Summary of Affect of Take on the
Residue:
New major roadway running adjacent to excellent quality residence,
changes orientation of property and privacy. Project also leaves isolated
uneconomic remnant south of new road.
Summary of Damage Considerations:
Quantify decrease in value of residue based on cost to cure including
adding new landscaping, visual and sound barriers. Damages to isolated
southwest residue triangle of 1.075 acres.
Summary of Restoration Cost to Cure:
See above
Summary of Specific Benefits
Considerations:
None
4
Value and Compensation Conclusions
Larger Parcel Value before Take:
Total Value
Land/Site Value
$300,000
Total Improvements Contributory Value
$777,000
Total Larger Parcel Value before Take
$1,077,000
Value of Part(s) Taken
Land/Site Takings:
Parcel No.
Area (Ac. or SF)
$/Ac. or SF
Value
Total Value
Parcel 3
3.0488 ac
$20,000/ac
$60,976
$
Owner Off -Premise Sign Site(s) Value
N/A
Total Land/Site Value of Part(s) Taken
$60,976
Easement Takings:
ParcelNo.
Area (Ac. or SF)
$/Ac. or SF
%ofFee
Value
Total Value
None
$
$
Total Easement Value of Part(s) Taken
$0
Owner Improvement Takings (Contributory Value):
Descriptions of Improvements (Buildings, structures, etc.)
Contrib. Value
Total Value
None impacted
N/A
Established permanent grass planting
$558
$
Owner Fixtures
$
Owner Trade Fixtures (Real property)
$
Owner On -Premise Sign(s) Contributory Value
$
Total Owner Improvements Contributory Value of Part(s) Taken
$558
Tenant Improvement Takings (Contributory Value):
Descriptions of Improvements (Buildings, structures, etc.)
Contrib. Value
Total Value
None impacted
N/A
$
$
Tenant Fixtures
$
Tenant Trade Fixtures (Real property)
$
Tenant On -Premise Sign(s) Contributory Value
$
Tenant Off -Premise Sign(s) Contributory Value
$
Total Tenant Improvements Contributory Value of Part(s) Taken
$0
Total Value of Part(s) Taken
$61,534
5
Rental Value of Temporary Easement(s)
Parcel No.
Area
Unit Value
Rate (%)
Term (Mos.)
Value
None
$
$
Total Rental Value of Temporary Easement(s)
$0
Compensation Summary
Value of Part(s) Taken:
Total Land/Site Value of Part(s) Taken
$60,976
Total Easement Value of Part(s) Taken
$0
Total Owner Improvements Contributory Value of Part(s) Taken
$558
Total Tenant Improvements Contributory Value of Part(s) Taken
$0
Total Value of Part(s) Taken
$61,534
Damages and/or Offsetting Specific Benefits:
Total Compensable Damages — Curable (Damages would exceed cost to cure)
$100,000
Total Compensable Damages — Incurable
$19,000
Less: Offsetting Specific Benefits (Up to 100% ofIncurable Damages)
$0
Net Compensable Damages and/or Offsetting Specific Benefits
$119,000
Value of Part(s) Taken Offset by Specific Benefits:
Total Value ofPart(s) Taken
$0
Less: Offsetting Specific Benefits (Not to Exceed 50% of Value of Part Taken)
$0
Total Value of Patt(s) Taken Offset by Specific Benefits
$0
Total Rental Value of Temporary Easement(s)
$0
Compensation Estimate
$180,534
6
Certification of Appraiser
Project Location.: CR 74 and CR 19, North of Windsor, Colorado
Parcel No.: 3
Owner: John and Wendy Houstoun, Trustees
I certify that, to the best of my knowledge and belief:
?? I have personally inspected the subject property appraised and I have also made a personal field inspection of
the comparable sales relied upon in making my appraisal, examined sales instruments of record, and have
confirmed the sales transactions with the buyer and/or seller. The photographs in this appraisal report
reasonably represent the subject property, the property to be acquired, and comparable sales relied upon.
?? any increase or decrease in the reasonable market value of the real property appraised caused by the project for
which the property is to be acquired, or by the likelihood that the property would be acquired for the project,
other than physical deterioration within the reasonable control of the owner, was disregarded in this appraisal
(Colorado Jury Instructions - Civil4th, 36:3; § 24-56-117(1)(c), C.RS.; and 49 CFR § 24.103(6)). This is a
Jurisdictional Exception Rule to USPAP Standards Rule 1-4(1) and is only applicable to the reasonable market
value of the larger parcel before take and the value ofpart(s) taken.
?? my analyses, opinions, and conclusions were developed, and this report has been prepared in conformity and
consistent with the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as
amended (Uniform Act); 49 CFR Part 24; 23 CFR Part 710; § 38-1-101 et. seq. C.RS.; §24-56-101 et. seq.
C.R.S.; CDOT Right of Way Manual Chapter 3, as maybe revised; appropriate State laws, regulations, policies
and procedures applicable to appraisal of right-of-way; and the Uniform Standards of Professional Appraisal
Practice (USPAP). To the best of my knowledge no portion of the value assigned to the property consists of
items which are non-compensable under established State law.
?? statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions
are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and
unbiased professional analyses, opinions, and conclusions.
?? I understand this appraisal may be used in connection with the acquisition of right-of-way for the referenced
project to be constructed by Weld County and may involve the assistance of Federal -aid highway funds.
?? I have no present or prospective interest in the property that is the subject of this report and no personal interest
with respect to the parties involved.
?? I have no bias with respect to the property that is the subject ofthis report or to the parties involved with this
assignment.
?? my engagement in this assignment was not contingent upon developing or reporting predetermined results.
?? my compensation for completing this assignment is not contingent upon the development or reporting of a
predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the
attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of
this appraisal.
?? I have not revealed the findings and results ofthis appraisal to anyone other than the client or clients attorney.
?? I acknowledge that this appraisal report and all maps, data, summaries, charts and other exhibits collected or
prepared under this agreement shall become the property of the client without restriction or limitation on their
use. I also acknowledge that this appraisal report may become a public record after settlement with the owner
or after the conclusion of legal proceedings.
?? Kenton Sick, residential appraiser assisted in portions of this appraisal relating to the main residence.
?? On May 12, 2006 I interviewed the owner, John Houstoun and made a thorough property inspection at that
time. The house was later viewed by Kenton Sick on June 5, 2006.
7
?? the effective date of appraisal and valuation is as of May 12, 2006. The date of the appraisal report is June 26,
2006.
?? based upon my independent appraisal and the exercise of my professional judgment, my compensation estimate
for the acquisition as of May 12, 2006, is $180,534.
Alan A. Axton
Colorado Certified General Appraiser #CG01313913
u
Assumptions and Limiting Conditions
The certification of the appraiser appearing in the appraisal report is subject to the following conditions, and to such
other specific and limiting conditions as are set forth by the appraiser in the report.
Extraordinary Assumptions
1. None
Hypothetical Conditions
I. None
General Assumptions and Limiting Conditions
1. The legal descriptions, land areas, surveying and engineering data provided by the Region are assumed to
be correct. The sketches and maps in this report are included to assist the reader in visualizing the property
and are not necessarily to scale. Various photographs are included for the same purpose. Site plans are not
surveys unless prepared by a separate surveyor.
2. This is a Summary Appraisal Report, which is intended to comply with the reporting requirements set forth
in Standards Rule 2 ofUSPAP.
3. No responsibility is assumed for legal or title considerations. Title to the property is assumed to be good
and marketable unless otherwise stated in this report. The property is appraised"as if free and clear" of
liens and encumbrances, but subject to existing easements, covenants, deed restrictions, and rights -of -way
of record.
4. Opinions, estimates, data, and statistics furnished by others in the course of studies relating to this report
are considered reliable.
5. The distribution, if any, of the total valuation in this report between land and improvements applies only
under the stated land use. Separate allocations for land and improvements must not be used in conjunction
with any other appraisal and are invalid if so used.
6. This report is as of the date set out and is not intended to reflect subsequent fluctuations in market
conditions, up or down.
7. It is assumed there are no hidden or unapparent conditions of the property, subsoil, or structures that render
it more or less valuable. No responsibility is assumed for such conditions or arranging for engineering
studies that may be required to discover them.
8. It is assumed the subject property complies with all applicable zoning and use regulations and restrictions,
unless non -conformity has been stated, defined, and considered in this appraisal report.
9. It is assumed the use of land and improvements is within the boundaries or property lines of the property
described and there is no encroachment or trespass unless otherwise stated in this report.
10. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation
asbestos, polychlorinated biphenyl, petroleum leakage, or agricultural chemicals, which may or may not be
present on the property, was not called to the attention ofnor did the appraiser become aware of such
during the appraiser' s inspection of the subject property. The appraiser has no knowledge of the existence
of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to
test for such substances. The presence of such hazardous substances may affect the value of the subject
property. The value opinion developed herein is predicated on the assumption that no such hazardous
substances exist on or in the property or in such proximity thereto, which would cause a loss in value. No
responsibility is assumed for any such hazardous substances, or for any expertise or knowledge required to
discover them.
11. The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraiser has not
made a specific compliance survey and analysis of this property to determine whether or not it is in
9
conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of
the property together with a detailed analysis of the requirements of the ADA could reveal that the property
is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative
effect upon the value of the property. Since the appraiser has no direct evidence relating to this issue,
possible noncompliance with the requirements of ADA was not considered in developing an opinion of the
value ofthe property.
10
Identity of the Client and Intended Users
This appraisal report has been prepared for the client, John Houstoun. Intended users of this appraisal report include
but are not limited to the property owner or the owner' s personal representative, property owner' s attorney, Weld
County, and FHWA.
Intended Use of the Appraisal
The intended use of the appraisal is in connection with the acquisition of right-of-way for the referenced project,
which is to be constructed by Weld County with the assistance of Federal -aid highway funds. If necessary, this
appraisal report with supporting data, analyses, conclusions, and opinions is to serve as a basis for court testimony in
condemnation trial proceedings. The appraisal report will become a public record after settlement with the property
owner or at the conclusion of legal proceedings.
Real Property Interest Appraised
The real property interest of the subject larger parcel before take, the part(s) taken, and residue after take are valued
as fee simple title. The property is appraised "as if free and clear" of all liens, bond assessments, and indebtedness,
but subject to existing easements, covenants, deed restrictions, and rights -of -way of record.
Definition of Reasonable Market Value
Colorado eminent domain proceedings use the following jurisdictional definition of reasonable market value:
"The value you are to determine for the property actually taken is the reasonable market value for such
property on (insert valuation date). ` Reasonable market value' means the fair, actual, cash market value of
the property. It is the price the property could have been sold for on the open market under the usual and
ordinary circumstances, that is, under those circumstances where the owner was willing to sell and the
purchaser was willing to buy, but neither was under an obligation to do so." (CJI-Civil 4`", 363)
Effective Date of Appraisal
The effective date of appraisal, reasonable market value opinions, and compensation estimate for the proposed
acquisition is as of May 12, 2006.
Date of Appraisal Report
The date of the appraisal report is June 26, 2006.
Date of Property Inspection and Owner Accompaniment
The owner(s) of the subject property, John Houstoun, accompanied the appraiser for the inspection of the subject
property. The subject property was inspected on May 12, 2006.
Project Identification and Description
The project for which the appraisal was conducted is the realignment of WCR 74 from its existing location adjacent
to the Windsor Reservoir dam to match the alignment at WCR 19. A total width of 180 feet is being acquired which
according to the county engineering department is adequate for a total of four lanes of traffic. Currently only two
lanes are being constructed.
11
Right -of -Way Plans Relied on for Valuation Purposes
This appraisal was made under the assumption the acquisition for the proposed public improvement will occur as
shown on Weld County right of way plans and legal descriptions provided for the part taken.
Purpose of the Appraisal
Only the underlying site/land value and contributory value of improvements in the acquisition area have been valued
in this appraisal. The estimate of reasonable market value and compensation for the property segment to be acquired
cannot be used to estimate the overall value of the larger parcel by mathematical extension. This appraisal process
is not a departure from USPAP Standards Rule I -2(e)(v).
Eminent domain appraisal is subject to the Code of Federal Regulations (CFR), Colorado Revised Statutes (C.R.S.),
and Colorado Jury Instructions (CJI). Real property appraisal development and reporting is subject to the Uniform
Standards of Professional Appraisal Practice (USPAP). The purpose of this appraisal is to develop a compensation
estimate for the reasonable market value of the property actually taken; compensable damages, if any, to the residue
after take; and specific benefits, if any, to the residue after take. Referred to as the modified state before -and -after
rule, steps to develop a compensation estimate for the acquisition of real property are:
1. Larger Parcel Value before Take
The first step in the appraisal process is to develop the reasonable market value of the subject larger parcel
had there been no taking or any effect on value due to the proposed transportation project. The
Jurisdictional Exception Rule of USPAP applies to Standards Rule 14(f) in this step. In Standards Rule 1-
4(f), anticipated public or private improvements must be analyzed for their effect on value as reflected in
market actions. This is contrary to law for eminent domain appraisal. Jurisdictional exception authorities
are Uniform Act, Title III, § 301(3); 49 CFR § 24.103(6); § 24-56-I 17(1)(c), C.R.S.; and CJi— Civ. 4th,
363.
"Any decrease or increase in the fair market value of real property prior to the date of valuation
caused by the public improvement for which such property is acquired, or by the likelihood that
the property would be acquired for such improvement, other than that due to physical
deterioration within the reasonable control of the owner, shall be disregarded in determining the
compensation for the property." (§24-56-1l7(1)(c), C.R.S.)
2. Value of Part(s) Taken (including easements acquired)
The second step involves the same USPAP Jurisdictional Exception Rule as in step 1. In this step, the
reasonable market value of the land or property actually taken is developed. The value ofland taken is
based on its value as part of the whole or the larger parcel. Value of improvements taken is based on their
contributory value to the larger parcel. (49 CFR § 24.103(a)(2)(iv), §§ 38-1-114(2) and 115(b), C.RS.,
and CJI-Civil 4`s, 363)
3. Residue Value before Take
The third step is the reasonable market value of the residue before the property actually taken has been
acquired. This step sets the initial basis for the ascertainment of damages and/or special benefits to the
residue. The reasonable market value of the residue before the take is the mathematical difference of step
1 (larger parcel value before take) minus step 2 (value of part taken).
4. Residue Value after Take (including encumbered easement areas acquired)
The fourth step is to develop the reasonable market value ofthe residue after the real property actually
taken has been acquired and proposed project improvements have been constructed. In this step, the
reasonable market value of the residue after the taking is no longer subject to the Jurisdictional Exception
Rule to USPAP Standards Rule 1-4(1). Any decrease or increase in the reasonable market value, if any, of
the residue after take due to the proposed public project needs analyses. The influence of the proposed
public improvement is considered except for any damages or benefits shared in common with the
community at large.
12
The market value of the residue after take is predicated on the "as is" or uncured" condition of the residue
after the acquisition. Any decrease or increase in value of the residue after take is based on market
evidence. Damage to the residue must be established before a restoration cost to cure can be considered to
mitigate some or all damage. Specific benefits may accrue to the uncured residue after take.
5. Acquisition Analysis of Damages and/or Benefits
Fifth step in the process involves analysis of damages and benefits to the residue. Depending upon the
extent of damages and restoration cost to cure, performance of another appraisal of the"cured" residue
after take may be required. Residue value after take may include analyses of the following:
?? Indicated damages — uncured
?? Compensable damages — uncured
?? Compensable damages — curable (Net restoration cost to cure) including:
?? Restoration cost to cure
?? Feasibility of restoration cost to cure damages
?? Net restoration cost to cure
?? Compensable damages — Incurable
?? Indicated specific benefits
If damage to the residue is substantial and the restoration cost to cure is not minor, an appraisal of the
residue as cured may be necessary to analyze the feasibility of the cure. If the restoration cost to cure is
minor, an analysis of the feasibility of the restoration cost to cure damages is not required.
6. Rental Value of Temporary Easements.
Sixth step in the process is the estimate of reasonable rental value for the time the temporary easement is
used. A temporary (construction) easement is used for a limited time period and is terminated after the
construction of the highway improvements. The unencumbered fee interest in the land reverts to the owner
at the time of termination.
7. Estimate of Compensation Summary
The final step is a compensation summary. The compensation summary includes the following:
?? Reasonable market value for the land or real property actually taken.
?? Compensable damages, if any, to the residue after acquisition of the land or real property actually
taken.
?? Specific benefits, if any, to the residue after acquisition of the land or real property actually taken.
?? Compensable damages offset by specific benefits
?? Total value of part(s) taken offset by specific benefits
?? Rental value of temporary easements.
?? Total estimate of compensation.
As stated in § 38 -I -I 14(2)(d), C.R.S., "In determining the amount of compensation to be paid for such a
partial taking, the compensation for the property taken and damages to the residue of said property shall be
reduced by the amount of any special benefits which result from the improvement or project, but not to
exceed fifty percent of the total amount of compensation to be paid for the property actually taken."
Data Search Parameters and Analysis Approaches
Subject property was thoroughly inspected and the owner interviewed to gain a good understanding of the current
property characteristics. Background data regarding utilities infrastructure, zoning by local jurisdictions was
gathered and applied to the specific property under appraisal. Comparable sales data pertinent to the valuation was
collected by all possible means including county clerks and assessors offices, MLS services, active brokers,
cooperating appraisers and existing data bases maintained by this appraiser.
There are three approaches by which the value of real estate may be estimated: sales comparison, cost, and income
capitalization approaches. Appendix A, 49 CFR § 24.103(a)(2) states "All relevant and reliable approaches to value
11
are to be used. However, where an Agency determines that the sales comparison approach will be adequate by itself
and yield credible appraisal results because of the type of property being appraised and the availability of sales data,
it may limit the appraisal assignment to the sales comparison approach."
Summary of Appraisal Problems
The main focus of the appraisal is to accurately determine and apply an appropriate unit value to the strip of land
being taken. Also it is important in this assignment to determine if and how much diminution in property value
results from the realigned highway. All orientation of the property has been toward an entrance on the east with
privacy on the west. Much of that configuration is now changed with the new road to the south and west.
Definitions
Following are definitions of significant terms used in this appraisal report. Sources and authorities for the following
definitions are shown as text -notes.
Benefits (Specific Benefits). "...any benefits to the residue are to be measured by the increase, if any, in the
reasonable market value of the residue due to the (construction) (improvement) of the (...proposed improvement).
For anything to constitute a specific benefit, however, it must result directly in a benefit to the residue and be
peculiar to it. Any benefits which may result to the residue but which are shared in common with the community at
large are not to be considered." (CA-Civ. 4th, 364)
Compensation. "...ascertain the reasonable market value of the property actually taken and the amount of
compensable damages, if any, and amount and value of any specific benefit, if any, to the residue of any land not
taken" (CJI-Civ. 4th, 36:1)
"(a) For highway acquisition, the right to compensation and the amount thereof, including damages and benefits, if
any, shall be determined as of the date the petitioner is authorized by agreement, stipulation, or court order to take
possession or the date of trial or hearing to assess compensation, whichever is earlier, but any amount of
compensation determined initially shall remain subject to adjustment for one year after the date of the initial
determination to provide for additional damages or benefits not reasonably foreseeable at the time of the initial
determination. (b) If an entire tract or parcel of property is condemned, the amount of compensation to be awarded
is the reasonable market value of the said property on the date of valuation. (c) If only a portion of a tract or parcel
of land is taken, the damages and special benefits, if any, to the residue of said property shall be determined. When
determining damages and special benefits, the appraiser shall take into account a proper discount when the damages
and special benefits are forecast beyond one year from the date of appraisal. (d) In determining the amount of
compensation to be paid for such a partial taking, the compensation for the property taken and damages to the
residue of said property shall be reduced by the amount of any special benefits which result from the improvement
or project, but not to exceed fifty percent of the total amount of compensation to be paid for the property actually
taken." (§ 38-1-114(2), C.RS.)
Damages. "...Any damages are to be measured by the decrease, if any, in the reasonable market value of the residue,
that is, the difference between the reasonable market value of the residue before the property actually taken is
acquired and the reasonable market value of the residue after the property actually taken has been acquired. Any
damages which may result to the residue from what is expected to be done on land other than the land actually taken
from the respondent and any damages to the residue which are shared in common with the community at large are
not to be considered." (CJI-Civ. 4th, 36:4)
Easement. "An easement can generally be described as an interest in land of another entitling the owner of that
interest to a limited use of the land in which it exists, or a right to preclude specified uses in the easement area by
others. An easement is an interest less than the fee estate, with the landowner retaining full dominion over the realty
subject only to the easement; the landowner may make any use of the realty that does not interfere with the easement
holder' s reasonable use of the easement and is not specifically excluded by the terms of the easement." (Interagency
Land Acquisition Conference, Uniform Appraisal Standards for Federal Land Acquisitions Washington, D.C.,
2000, p.63)
Fee Simple Title. "A title that signifies ownership of all the rights in a parcel ofreal property, subject only to the
limitations of the four powers ofgovernment." (Appraisal Institute. The Dictionary of Real Estate Appraisal, Fourth
Edition, Chicago, 2002, p. 135)
14
Larger Parcel. "That tract, or those tracts, of land which possess a unity of ownership and have the same, or an
integrated, highest and best use. Elements of consideration by the appraiser in making a determination in this regard
are contiguity, or proximity, as it bears on the highest and best use of the property, unity of ownership, and unity of
highest and best use." (Interagency Land Acquisition Conference Uniform Appraisal Standards for Federal Land
Acquisitions Washington, D.C., 2000,p. 17)
Part Taken (Partial Taking). "The taking of part of any real property interest for public use under the power of
eminent domain; requires the payment of compensation." (Appraisal Institute The Dictionary of Real Estate
Appraisal, Fourth Edition, Chicago, 2002, p. 209)
Residue (Remainder). " ` Residue' means that portion of any property which is not taken but which belongs to the
respondent, ..., and which has been used by, or is capable of being used by, the respondent, together with the
property actually taken, as one economic unit." (CJI-Civ. 4th, 36:4)
Restoration Cost to Cure (Cost to Cure). "In certain circumstances, damage to the remainder may be cured by
remedial action taken by the owner. The cost to cure, however, is a proper measure of damage only when it is no
greater in amount than the decrease in the market value of the remainder if left as it stood. When the cost to cure is
less than the severance damages if the cure were not undertaken, the cost to cure is the proper measure of damage,
and the government is not obligated to pay in excess of that amount." (Interagency Land Acquisition Conference,
Uniform Appraisal Standards for Federal Land Acquisitions Washington, D.C., 2000, p. 51)
Slope Easement. "A ` slope easement' is an easement reserved to the condemnor to use whatever portion of the
property is needed to provide lateral support for a roadbed, and those surface rights to property which are not
required for lateral support are retained by landowner for any usage which does not interfere with condemnor' s
slope easement." (State Dept. of Highways v. Woolley, 696 P.2d 828, Colo. App. 1984)
Temporary Easement. "An easement granted for a specific purpose and a specific time period. A construction
easement, for example, is terminated after the construction of the improvement and the unencumbered fee interest in
the land reverts to the owner." (Appraisal Institute, The Dictionary of Real Estate Appraisal, Fourth Edition,
Chicago, 2002, p. 288)
Compensation due for a temporary easement is the reasonable rental value for the time the easement is used. (State
Dept. of Highways v. Woolley, 696 P.2d 828, Colo. App. 1984)
PART 2 - FACTUAL DATA - LARGER PARCEL BEFORE TAKE
Identification of Larger Parcel before Take
In condemnation, three conditions establish the larger parcel for the consideration of compensable damages and/or
specific benefits. The three conditions include the portion of a property that has unity of ownership, contiguity, and
unity of use. Valuation for eminent domain purposes is unique in that it requires consideration of damages and/or
benefits to the residue after take when a partial taking occurs. More data concerning the larger parcel determination
is in the highest and best use analysis. The larger parcel for this assignment is determined to be 15 acres more or
less owned by John and Wendy Houstoun, trustees.
15
PROPERTY DATA - LARGER PARCEL BEFORE TAKE
Summary Regional
Analysis
Subject property is located in
Northern Colorado in the
transitional zone between the great
plains and the Rocky Mountains.
Fort Collins, Loveland, Longmont
and Boulder form the north "Front
Range" corridor, a moderately
dense population center along the
level river valleys just below the
foothills. At the latest count
Larimer County was home to
269,138 residents, most of which
live in the two largest cities, Fort
Collins and Loveland. Fort
Collins itself is estimated at
126,903 and ranks as the 5`h largest
city in the state. Greeley is 85,887
persons and Weld County is
217,781.
The main economic factors
affecting real estate in the area are
high technology industries with
large companies such as Hewlett
Packard, Woodward Governor,
Agilent Technologies, Eastman
Kodak, LSI Logic, Celestica, plus
education with University of
Colorado, Colorado State
University, University ofNorthem
Colorado, the oil industry and
agriculture. The area has been
booming in the last 10 years with
Ft. Collins growing by 26,769 or
27 percent and a large number of
new houses and supporting
services coming into the area. The
peak of the building boom came in
2002 with 1224 permits issued for
new houses in the city.
Fort Collins and Loveland form
the gateway to Rocky Mountain
National Park and Estes Park with
many of the states visitors using
the city as a starting point for
vacations. The city is known for
beauty with its lakes, parks,
mature trees and golf courses.
Tourism is an important
component of the local economy.
Colorado State University with
over 20,000 full time students is
also important to the Ft. Collins
culture.
m
an
ito
n
N
Area Major Employers
wn
ii
ADAMSI
Ir
Firm
Employees
Type Company
Colorado State University
7248
Education
Poudre Valley Medical Center
2334
Hospital
Cries tics
900
Electronics
Aeilent Technologies
1400
Electronics
Hewlett-Packard
1600
Electronics manufacturer
Thompson School District
1500
Public schools
McKee Medical Center
800
Full service hospital
Colorado Memory Systems
775
Tape backup systems
Wal-Mart Dist. Center
636
Regional distribution warehouse
Hach Company
594
Water analysis equipment
City of Loveland
465
City Government
Woodward Governor
450
Manufacture fuel controls
Sam's Club
200
Wholesale membership store
Teledyne Water Pik
200
Oral Hygiene equipment
Windsor SFR Building Permit Activity
•.•
*AV, WA 7. am
I
-
fir
I
rq
d!
sx
I
:�
R
g
16
Neighborhood Description
Subject Neighborhood is a
developing area on the edge of the
P g 8
small towns of Windsor and
Severance. Much of Windsor' s�.,-�
residential and commercial growth
has been along SH 392 toward the
west of town and to the south but
there have been some large estate
lot subdivisions be
beginning
g g to
encroach on the neighborhood
north of town as well Land to the
east of SH 257 has been slowly
migrating from agricultural uses
outside the city to commercial and
industrial enterprises. The main
center of employment is to the
southeast end of town with 1,800
workers at Kodak, 85 at the new
Encop facility, 85 employees of
Metal Container Corp., 100 work
at Packaging Corporation of
America and 150 at the new O-1
glass plant, 135 at Universal Forest
Products, 32 at the new Front
Range ethanol plant.
Much of the district is still zoned
apiculture and not annexed to
Windsor. Several neighborhood
subdivisions have been
accomplished through the county
rather than through annexation
Eventually Windsor is likely to
grow even more in this northerly
direction due to ease of
transportation routes to Ft. Collins,
either directly west on Tinmath
Road or on SH 14 about 4 miles
north. Windsor has been one of the
fastest growing communities in
Colorado over the last 10 years
with only 5062 persons in 1990
and nearly 10,000 in 2000. The
town currently estimates the
population at 15,407. Building
permit activity peaked in 2000 and
2005 at 451 permits each year but
dropped significantly in 2002 and
2003. So farm 2006 the pace is
on target for another big year with
168 issued thus far. As the area
between town and Interstate 25
begins to mull and prices escalate
it is only reasonable to assume
northerly development will
eventually occur.
-•
, .
_
t
�� -
I
.. �
i.
aaa CL'.
t
�''
' -'
T
!
,..'
h'.
��.
•+
.
`i 2�
'�!
jl
,
1
�"`'
Su.ject
I
i
+
r
Sf�
-
-`
d
8
j
7
_ ,-•..,
_
r
4-
"'4' L." mow
Y
_
-
-
.,
-
-
'"` 1
. ``.-s'`
Neighborhood Map
_
r ,.
^r
'"'s
t ,
• r n
4
Subject , Windsor
• 777rrr� - i s Reservoir•
fi _ 'r'.
J.% �! .M g •- -
of Windsor•.
-+'y'
r - ;,
_.a,
s�
,t.A�-
�Town
4i'^... - F 'Ap I _ -. �,t , , i ,�• t
a '',+s - i
y - �• ` �� "tea
„ �"`"
... -r='� _- '� ., ....
Aerial view of the vicinity
17
Subject Property
Description
Affected Area
The ownership consists of a single
tract of land at this location with a
total area of approximately 15
acres.
Property History
Subject has been in the ownership
of John and Wendy Houstoun,
trustees of living trusts for many
years. The original site was
purchased prior to building the
main dwelling in 1989 and the
larger buffer parcel added in 1993.
There have been no transactions
involving the property in recent
years.
Legal Description
Pt. NE/4 Section 4-6N-R67W and
Lot A Amd RE326, Weld County,
Colorado. See Exhibit B.
Location
Northwest corner of CR 19 and CR
74 about 3 miles north of Windsor,
Colorado.
Access
Good direct access off two lane
paved CR 19.
Site Size & Shape
According to the Weld County
Assessors office subject is 15.27
acres. Maps provided by Weld
County Engineering department
show the tract at 15.277 acres but I
do not believe a thorough recent
boundary line survey was
conducted. For the purposes of
this appraisal 15 acres will be used
as the site size of the before larger
parcel. The tract is approximately
1< mile long east/west by 1/8 mile
north/south.
Front entry at WCR 19
Aerial photo of the property
1x
Topography
Subject site is slightly sloping
westerly at just under 5000 feet.
The main yard around the house
and other improvements is raised
perhaps 5 feet above the elevation
of the surrounding farm field.
Soils
Loams and sandy barns well
suited for irrigated crops or
development. By far the largest
majority of the site is Thedalund
loam, 3 to 9% slopes.
Map Map Unit Ac
Unit Name
Kim loam, 1
32 to 3 percent 0.2 2.0
slopes
Otero sandy
52 loam, 3 to 5 3.1 25.3
percent
slopes
Thedalund
65 loam, 3 to 9 9.0 72.7
percent
slopes
<:a ..
Topographic Map
Hazards and Detriments
None noted. According to FEMA
flood plain maps subject is well
outside the 100 year flood plain
although the very nearby Windsor
Reservoir dam structure could give
some buyers concern.
Easements &
Encroachments
A title insurance policy was not
provided by the client and no title
search was conducted by the
appraiser. Typical utility
easements and road rights of way
are assumed to exist.
Soils Map
19
Zoning
The property is zoned A -Agricultural
District in Weld County. Uses
within the district include farm,
ranch, nursery, packing facility, one
single family dwelling, institutional
uses, golf courses and parks among
others. Although only one residence
is allowed per lot accessory
residential buildings are allowed.
Uses expand with special review or
conditional review by county
planning staff. Minimum front
setback requirements are 25 feet, 25
foot side yards and 25 feet to the
rear. Maximum structure height is
40 feet. The minimum lot size is 80
acres. County subdivision approval
is required to divide into parcels less
than 80 acres except that there is an
exemption process to divide one lot
off (Recorded Exemption) every 10
years. Approval of the exemption
process is at the discretion of the
county commissioners. See Exhibit
C for more details regarding zoning.
It is possible, maybe probable that
the subject could one day come
under the governance of Windsor
through annexation as it is well
within the town's Growth
Management Area and the site is
within one mile of the current
mmticipalboundary. It is designated
for "High Density Estate
Residential" in the Comprehensive
Plan.
Town of Windsor Comprehensive Plan, April 2002
Main dwelling easier
LEGEND
O 4A unNp [wc 4µnnyxa.7r.::
rJ Saa•smitehaana
N.ditia Nsinna
cnta utriawu
IMO ro.ameweLana( .m.an
MI tea ....aa.
MI 6Lae4r...
it :au Jatw.. v..n iev4+a Ma
inn.. wet
a a fey*
t[1. iOro lVh 4adR.
blenenityrti
4.n N.a 4c.
—........'.4.,,....
�. l sAtux..m..4,k emmm
20
Utilities
Treated domestic water,
electricity, natural gas and
telephone are available to the
property. Wastewater disposal is
by individual system.
Site Improvements
The site is highly improved with
many plantings of trees, shrubs
and irrigated grass and various
connecting flat work. Extensive
irrigation is installed to the
landscaping. Paved front entry
circle drive and matching brick
front entry gate. Secondary
access drives throughout.
Water Rights
None affected by the acquisition.
Improvements
The main dwelling is described
in the upcoming URAR
residential form report. The
smaller tenant house is frame on
concrete foundation built in
1924, 936 square feet 2
bedrooms, 1 bath, single story in
good condition. Interior finish is
typical for the size and quality of
the house. Composition shingle
roof, forced air gas furnace.
There is also a small 324 sgft 1
room pool house with bath
nearby the swimming pool, a
converted farm shed originally
built in 1929 but significantly
updated. Electric baseboard
heat.
Assessments and Taxes
Subject property is identified by
the Weld County Assessors
office as PIN No. R0277293
assessed for $4,380 for land and
$72,670 for improvements ents for a
total of $77,050 based on total
valuation of $967,943. Applied
to the mil levy of 82.482 taxes
are $6,355 per year.
Leases
No long term leases.
Tenant fixtures
None
Extensive landscaping along east side
Tenant house looking northwest
21
PART 3 - ANALYSIS AND VALUATION - LARGER PARCEL BEFORE
TAKE
Highest and Best Use- Larger Parcel before Take
Highest and best use is the most profitable and competitive use of a property. Colorado Jury Instructions - Civil 4th,
36:6 views highest and best use as follows:
"In determining the market value of the property actually taken (and the damages, if any, and benefits, if
any, to the residue) you should consider the use, conditions and surroundings of the property as of the date
of valuation.
In addition, you should consider the most advantageous use or uses to which the property might reasonably
and lawfully be put in the future by persons of ordinary prudence and judgement. Such evidence may be
considered, however, only insofar as it assists you in determining the reasonable market value of the
property as of the date of valuation (or the damages, if any, or the benefits, if any, to the residue). It may
not be considered for the purposes of allowing any speculative damages or values."
The Appraisal Institute in The Dictionary of Real Estate Appraisal, Fourth Edition, Chicago, 2002, p. 135, defines
highest and best use as:
"The reasonably probable and legal use of vacant land or an improved property, which is physically
possible, appropriately supported, financially feasible, and that results in the highest value. The four
criteria the highest and best use must meet are legal permissibility, physical possibility, financial
feasibility, and maximum productivity."
First, in this analysis, the subject site is considered as if the subject ownership is vacant land or a vacant site or land
that can be made vacant by demolishing any existing improvements. Second, the site is considered as it is currently
improved (" as is") or as an improved property.
Highest and Best Use as Though Vacant
Factors to Determining Highest & Best Use
Physically Possible -Uses are considered in terms of location, size, shape, soils, and topography of the property.
Given the large size, topography, soils and other physical characteristics the best use is for farming or development,
specifically irrigated fanning. Crop choice and rotation should match soils conditions. Residential and commercial
uses are both adaptable to the property.
Legally Permissible -The legality of uses results from limitations such as zoning, building codes, set -back
requirements, easements, and environmental restrictions. Allowed uses according to current zoning are a wide
variety of very low density residential, and agricultural uses. The Windsor comprehensive plan indicates very low
density residential uses in the future.
Financially Feasible -Normally, only uses which produce a net positive return after debt service are considered
financially feasible. Agriculture with current land prices is no longer feasible except to offset some of the holding
costs. For the foreseeable future subject will be best utilized for its current use, the site for a high quality residence.
Maximally Productive -Residential
Highest and Best Use as Improved
Same as above.
22
Appraisal Valuation Methodology
The Sales Comparison Approach to value is considered most appropriate in this assignment.
Land/Site Valuation — Larger Parcel before Take
Introduction
In this section the analysis revolves around comparing subject overall property with as similar sales of properties as
is possible. The search for comparable data included the immediate neighborhood but as is often necessary the
market area was expanded to include other competing areas around Windsor, Severance and western Weld County.
Research was accomplished by a thorough examination of all possible sources including county assessors and clerks
records, data bases maintained by this and cooperating appraisers and real estate agents active in this particular
market.
Elements of Comparison
Sale Conditions
Factors such as unusual conditions of the transaction, financing, or property rights can affect the price paid for real
estate. In the case of the chosen data set, all are considered arm' s length having no unusual stress or pressure to sell,
good exposure to the open market, most are cash or terms equivalent to cash and all are the transfer of 100 percent
of fee simple interest.
Date
As discussed in the Area and Neighborhood analysis earlier in this report the market in the area has been
strengthening dramatically in the last several years. Lack of supply of development land in Front Range cities,
increased population and the demand for rural living all contribute to these increases. A degree of appreciation may
be applicable to the earliest sales. Example comparisons indicate prices have risen about 10 to 15 percent annually
over the period 1999 to 2001. In general in northern Colorado it appears the market may have leveled somewhat in
late in 2002 into 2005 but for residential parcels like subject the trend apparently has continued upward. One
pairing of a sale and resale of Sale 2 indicates an 8 percent increase over 6 months or about 16 percent per year.
Other pairings in Prairie Ridge Estates show similar appreciation. 15 percent per year will be used in this appraisal
for the earlier sales.
Size
Normally, the smaller the site the higher the unit price. This is due to higher demand for smaller parcels as well as
the "wholesale" effect of the overall transaction size. Large investments have a smaller pool of potential buyers,
therefore often reduced per unit prices. In this case all of the data is fairly similar sizes from 10 to 20 acres and only
very minor adjustments are necessary.
Location
Location is obviously one of the most important factors contributing to value, but is difficult to extract from other
factors. It is important to buyers to be within an easy commute to local markets and city services. Most buyers
would prefer to be nearby a major highway for ease of access. All of the sales are similarly located in the area
around Windsor but some have more urban influence than others. Privacy and seclusion but with handy access are
the combination buyers are looking for.
Other
The remaining adjustments are more minor and include age and condition of included buildings, functional utility,
availability of services, view, zoning, water rights and other factors. Water rights are allocated out of the sales when
possible in order to identify only the land component for subject. This is often a difficult task as water can be a
major contributor to value. Adjustments are made to sales based on general market comparisons or sale pairings
when available. Input from buyers and sellers and agents involved in the local market are important to forming
opinions of adjustments.
Analyzing Sales Data, Comparing and Concluding Subject Value
The following paragraphs set out the data chosen for comparison to subject property. Factual information about the
transaction is presented along with a map at Exhibit E. Then the sales are compared to subject each giving a
measure of subject worth. Final paragraphs reconcile the data and conclude an appropriate, supported value.
71
Primary Market Indicators
1
1/6/04
Soaring Home/
Jeanette
Gongloff
$164,000
17 ac
$9,647/ac
West of Soaring Eagle Ranch
on CR 76. No imps, no water
rights, NWWD avail. 150
days on market, listed at
$169K.
2
8/13/04
Prima Const./
RichardCinkel
$247,400
17 ac
$14,553/ac
Resale of site north of
Windsor offofSH257. Sold
for $229,000 in 2/04. 1 sh
LW, I sh LW res allot $37K.
NWWD water.
3
10/15/04
Butts/ Uhrich
$120,000
12 ac
$10,000/ac
NWC CRs 21 and 80. No
water rights. Listed for
$150K, 58 days market.
4
8/24/05
Soaring Home/
CKM
$140,900
12 ac
$11,742/ac
Northern most lot in Soaring
Eagle Ranch. HOA, open
space, non potable irrig
supplied. Listed for 204 days.
5
4/3/06
Raymond Glenn/
Bronwen Foster
$289,000
19 ac
$15,211/ac
SEC CR 21 and SH 14. No
water rights. Ditch &
cottonwoods. NWWD water.
213 day marketing.
Other
9/05-4/06
Carlson Trust/
Various
$220K-
$506K
10.5 ac to
25.4 ac
$20K-$23K/ac
Sales of 6 lots of 8 sold out of
Prairie Ridge Estates
subdivision southwest of
Black Hollow Res.
A sales map showing the locations of these sales follows on the next page. The table above shows examples of current
land sales in the Windsor/Severance/Eaton/Fort Collins area in the 10 to 20 acre size category well suited to similar
uses as subject. Sales 1 through 5 are individual sites scattered through the area and are mostly $150,000 to nearly
$300,000 per site. Sales in Prairie Ridge Estates are smaller, mainly around 10 acres selling at $220,000 to $240,000
per site. On a price per acre the scattered tracts at 12 to 19 acres have been mostly around $15,000 per acre while those
in the subdivision are $20,000 to $23,000 per acre. In the case of oversized rural residential homesites the overall price,
not the price per acre is the most important measure of value.
The average lot price in the above list is just under $200,000. The average in the Prairie Ridge subdivision is $240,750
which brings up the overall average to about $215,000. It is important to reiterate that date is an important adjustment
to the sales. Sale 5 is most indicative of current values and the sale and resale of Sale 2 shows over 15 percent per year
appreciation. Likewise the latest sale in Prairie Ridge is the top of that particular market. As a result the conclusion of
value will be most similar to those recent sales with sizable time adjustments to earlier sales.
24
1�0` ,`JI
a
Il +.._.".�:
\may
kAWa hLL��
•, �'.
' .
W
Prairie
Ridge
'f'
-.
� � "`P.,
4ppod
.)
Sale
5
a
<
l .b
ti
•
Ili]
a
P�'_" pia
red��r(\}���
`
'�•
-6•
Sale4
�T
Sale3
..
r
Sale I
3-4"1
J 1
/
`
` A
6I1 X16
b
ql`
c
Salle 2 -
s' ,1"
!
�'"
1b
na 7
Subject
I o
-'..
:.:
I
7+►�
s''-
_ l
I W
ftn
1 INS'
4
.
I
..
4,
�
I
1F '•J
,
t(j'(Q.
\
t _
.. z it
,I
•
,-.7.-----__
Mc1Ml
'�
V
I BG
37
1'
Comparable Sales Map
25
Summary and Adjustment Table
Price
Size
Unit Price
Adjustments
Indicated
Value
1
1/04
$164,000
17 ac
$9,647
++date, +usable area, +tap, +util, -
size
(factor 1.5)
$246,000
2
8/04
$247,400
17 ac
$14,553
++date, +tap, +util, -size, -water
rights ($37K)
(factor 1.25)
$308,000
3
10/04
$120,000
12 ac
$10,000
++date, + -loc, +size, +util, +tap
(factor 2.0)
$240,000
4
8/05
$140,900
12 ac
$11,742
+date,+size -
(factor 1.25)
$176,000
5
3/06
$289,000
19 ac
$15,211
Sim date, -size, -highway, +tap,
+util
(factor 1.0)
$289,000
The sales chosen for direct comparison to subject are analyzed as shown in the above table. Factors such as
location, size, date of sale, floodplain/usable area, water rights, zoning and other such items are adjusted using
market support and the input of market participants interviewed. Adjusted sales prices are $176,000 to $308,000
and an average of $251,800. I consider the best most similar comparison to be the fairly recent Sale 5 which is
drawn up by Sale 2. The smaller sales in the Prairie Ridge Estates at near the mid $200,000 also support a
conclusion of about $20,000 per acre or $300,000. As a result:
15 acres x $20,000 = $300,000 site value
Description and Valuation of Improvements
The following pages represent the description and analysis of the subject improvements and combined overall
property valuation prepared by the appraiser with the assistance of residential specialist Kenton Sick.
26
Swampy Appian: Aeport
Uniform Residential Aokraisal Resort
therl Cot"
Fla P Elan per 76311Y
I ', Ill la:" t•i IlTr/ A::Ill.h' 11111. 1- "' :" Ell I rIv!': I C I Inn MI ill 1llp 1 fL l I' II 1"NI1, fi,i.' III n• tail I,'i'91t'
erkh 895: WCr Ta .-'. W, d, .. C III :'k 1. e- 5o a4CT
Hi•i n.>n,..n tsl:a o'na, rt L 1.1 tscnn:Vun taxi, Wqf
L:!.'ll Lo l A 21:1 Alnsifli CI Pre., Atd :+c- S
1f9G'.%[Xai-He•Z1i29! In•"ml ien F' In.M (215520
aellimlin': Ydlr. wlI tra al 1-. a1C2 Unstu 77{117
Ij c:cI: : l barn :PIN. 71'llilnr 'n,:IF I- 1."F E rJ W l"r�1 l iUll H.,L S 45 -1 I:nt o.. PI : I " P
Rou:ni'i1hf,dturnv'J ❑II II: SITra O Lrl<ell ❑'C.-nr'J:'xlrni
.t,! i'",li 1VI' 0 'isr.l:.^ i1 a:'M.".0 ❑ Rehm. -11 Elie.^Ina1
lrx'p"CI07 1'drtnu
II cuitt'nrJ.w1V L 4aa a'. 'on o Yl;5 Ina lrt •I ILl ldu t xl •nt'ri'-li it;'IINn1E ltOf ll Stltl ]x3' I jrc. rfl9
'44.1I14104 ?P'l'VCIY Yk9. Lr!rrrli W 1.11b i ll'J lad.lu e
t1
u i1I J 11,1 kill warm, l lr flll'', k,.,,:.''r II il rIll ll'I:'in•' 111 i Lacl.1f(.r,l"'t l,:V,'I' .1!111, 1,'..1'1's'.l'll!'I" 1'1.,1("I'^itt''.I.
i rinr!C
.., .'P'I7' f- ,,C4 ir .1"rtl l I II •;w Ill .. Irll II " u t".'u l r-1 ,If: fl..f
Ir. 11e1 inf `r.I'ru a r n?r'}I. JIIr'Ien, tr'n -: Ft M1 GIII:' 11.!.1 Iad'r•T :.ir'.1i. r+ 111 ,'•!I:1 ah-1i11•f':Hll 'ft 4-Pll"uv! El In- ❑..,1:
Il H. IWelNi .11d, am,,," IIII J!'_:IJ1, Y1! li
Nan' ffaleard Inn-maiPimpualirn of or I:harborddry tat appledal Iaglra.
NNgMeahola!''tll1mnmcmfHla 1 OnWnitluuornfril p i OmUfll*ingg I-
R+Npttlmt
RUC: Lunn!!' O Jll&ILUP O ISII i
Ly
C1p911 dilLas — tun plf7 ICJ SIYn! ❑ intHi ]
141!LE
po"-IR -�/p Or' .,', j'1 4i1 `--[Tirl LI'WI ' C
rl . LYl5n,tu El - 11UN 'm is Pint' I I .nnl Awl,,''�
.'IIII'
1'Jlfl:, BXI
9- 14
n:9tr1 n mint Fl '5•ah }-1 sent'
I .lu`^P'1 iLH I I uy)=l - TT, E t ' fn- Fl '..you IT
7 . -I, Pie. IF•la!I FirrItl 1,-• r
Nai;!WlLtu N44ael.'- ilw_ Gmrmlm:Y d 46rrind
1Gtt%. I'-." Sr 1 C1,T,Il Xl:r. x.
I 90.r "ir= Sa '!Ali
N'ilIli lah.;1! I'ic'tili'i Sac artaq'ac gd]e.rda
141 :Cu l'f:ItiN%:IK£1:11,{I U, lilt nL'319:J ILI,11'CI:!'. CV^H'fl tAn ti4JIV G.F'f a,C4 Aral ttllll'PIllhaa 11Ii C plti1'lJIS11:F 01411ng gtlnilli Ftbinrt'I0
(,(Yle:ggR'i'F&rpypnnl Ir'1J9',iuu M1Y ct ii! a rr llliarrij n, gt,In Yy llra!r ''111V. A'5Yn Fri:. arlrl trot. irtan[IIII NIIrn%Irl!{IIinRPrn iutl r'V'rlii'Yo l'i pl,4q'RF.1
LSITI]'1i'n Measure end ld tie vet. ed1'. YXYuY hln;, 15,27 a: rah :Y.lii' Posits, i'+IP• Outti',nit
Syeulr. itT,m I.RhilhCrIrOper. iuiu0 UV5CIIIYumn Rd0flrol0l kit
&IP] tkorli4DIt R Lt'41i rI Ira,' tA,fA01p'i"ty fllill'It,llw! i 'HP' fl j9 hi:nN El Elm,' "Y:Uflrl'
In Ii,hvr*'; Y1 I tit. ofd.n,o;,anfl lie di lltll”.. 1111 YI(f:(11'A,I?IIT. 'f 'is": •LY isl'Co rjr55C11:5?:' 0M_Li11 1^iIf?..air•
blues Pub & Wet laetuibti bu5lc PI laletrtei Off -e rpmno - 1$. pu8l11 P of
144t1rMI rr P I ;le%l 1i % .Wall SI:ot', lsarnll x11
,J
I�l I ISAJ Ronne11diq'i i.;i I S=PIL '•'PI non I I
:fgIlll nod nun: rul CI !8h fl 111 i:1n-__. AW N.Id Ian 4 9,10 Ld'5Li -h11A L'In pa"- 9(22l1WC
1,y
(Uf II MI x1 In, ?'l9'Jirr li lia:uf In ii,; ris'tEl i'' ,' Inl 'ir• 9'Lu 'I N., I-Si:'I!le'
it P014 IYH HIIC15!S,-. Li) VJ{ll''a1 Lti:rtll Itut'-S In nrir1 p li l`. IYMIJf?pl'Idl ]I]. A:;:i:=::L'. IT r!YCi 0fJ I•tY N1rle
See Ntueted atl^R1au
SIIeR6011mA0A
Feglfdllphn
rlmrhlr Die Eh000n :ImrrNrpilco ptlNNIN
in monk/
!-'ale L I are ki rF8 ryllll 7[cekirrp Ua:
J Le^_•'elt i4' CSI Cunl jpg:e
c i.IOR III Pi wdi CorcnM.eeer.
I-t}S_ Cupid. Id
a �':IINp''
1Oy:'fuv-i, J FIFO,ol IL,.!Ilml
.n Well LMsa'Shc,wn
i. I. 1, WInve
hr.' VI IIiii [TI4p I I 1 '='I'J44
Rabat.=rii 2C '1t'IJ:Aftn,:a
Uelege
!'III lel' Tpird'.n
{7 Ham. i int, Ol i,,tl Ti l!IT-i Lm' -I
F.c..,:1111 ii'l -inch
.hril. !. %, 11131 M,tily'ra5
BII lileiety
L imiLli, elgy
] t'fs J! r i sAt C:..rn Pun
Rrud( llwcd Ydu
datll/a l:ul I nine.
niw-Hi1' 198g
LYYla: al IJ dr, .1,11.,Ir
toil Fa-A'nuJllrt' Gu.6i p'an•y1J
If Ii it
1"IiH.YLF}I"r5
L ion lY:Jr-
Ih'llp
air './.'I? p61 P
I vm.lo El cr.rnir
7.ru:A vnioRr
r]l' I l'<%rnl
M1 -K- ti;. iZ 'A I l Rid. ri
k-in:]P I It Rloo','-s'
Gffjet,
.a 4up 4i' O S
Ti Jrr' Lit P,00sie
ft.ld4 . -t 1 ❑ i' .
'may a ell t jyra2l
11Lr1 l 5.'411,
Ti tin,'Yn 1 'lint
'
61 111 a
.:1 ,.1!1:11
1 s, : slh lie
Pal .1 t II ' eoie Ir. # ii L,
I i ',rs
FNI _Q
I tti 20„20Ly in., pro I -b r El ; ni9111' r`
4i y,,Xrroi I RM RR, 0ri, 11:9p :1 ls:I tM r J''.. Px1. C NI H ,Mr O ,0Mb 'II ❑ Ifi id., ,
Nnu CG c J a,no➢C: Jr:LWIIcr-,! A MAI:'r: n2 n='IK: 3Y,11J S4.1' Ell Ell Ii5'e ui:!'J+'144540 V.L:
Gd✓.,lalroi Inilntlla.1jilt :,'. e,1115/ i'll„?'1 n"''I '• ,,ee allncrlen gaaendh
Di, IJu:flru:Nl4' ll III vi Lg'} IIY.I.cril iv t Ir al. t 11 :ft: ihe^`a.%''#rem iiif'1CBvul ui efleele'Nuetugcle:
Thu (ArGe'C.on Ii nit'spar In Inn nlnr
+'C I'11' a air 'Jl.:l."'.[G('+ it i• _ .ti..'IL nil uk..I l :n's-i:t SG.. .x1::.1 O ": Cu, it dri ILr
frr-, Or -lalrl 311 .1 _ntlarr v rr reMnl: rulJ. l .I.:.•, .,.. t lll. ,I>_ ,}n.Xlitl C. '`J 4: 1-I `I. i ,.•. •ir,:up:
Rnddi' Mu_ F;r'n 711 Minn 217:x1.
F; +'ml: Ids' -corn 1 Cw f Lu 112US'
27
Uniform Residential Appraisal Report
nreld Cents
Re Or H9ufi war /42sv^v
L:nr £r y irrriiiiiii in Ey 6NIn'1!,'Me ill lea 'r". 1'I.'n 1'^i f irirtt.i'Mil ,UPI l' It" 111;1' l ALLOW l:.3 2&ALCM
in i cu-e,n!,•'„l'H .y ciinthird !wl'11 n00 Wi11'ltill H.!mae.,L[rm< 0,11m1rito@ pll4'fi toe $ OCO,03C Il $3 2.:80000
4,1i-1= I SJtl.t CI
]nrias'4tl, i'ALL .s.
I:1Kirr cart 3.1
Of fniinati=Sion'
Mikes, 8962WJ^Ft74
Moat SrFCS$nelA0i
3035N Co Rd IS
Fntl.r Nlny, 012 ii0524
:333 N a. Lite PR
Find rein,. f'nn Wt7.1
1250 Ea,*U
N'nnMt CD 3$)t
o(ohmay'e. kr'IR'
7 l9 Oil'F
6,4 lefts
529 mole
Silk Fie
'F, l rill
i. 4111 n:S,
ih4'OIIi
':n_1 SaF&m.a 0.16o_Rn
OA 1444.04
lS e':'I
t 170 St sue
S .7n - 49 'A II
) If+2.Jolt
v
MLS4100111
tr Sitcenl
Ml5,,kne
VhOeli6I.Smerele
MLS4.M7Ti
!it5d59E85
NILS 3854£5
l 1LUE'GF5iLEIlI3
J-5-FPILt.
CE3GP'r110C h Aisne',
-..N+'IUIJ 1 k hi-nn.I:
u4: OI'°Mil
3-I. irr-r'
Seal 011 irrisprl
:.:RSSVP
COIN 8D:.
Non'
Cunt Reno
nd6'
C:nrly *rc
N6w
!WCi 6SIir !IF
1o2l.20tr I
LL+:i1Ccuh 1
1211112LUE
'rcanri
N'AY+evr
f''µ14. m“ I
moduli?. Clio, I
iINI¢
!SaHH14a le :nit
`e.' 5illtle
Fen Sees
me e,,,uor
rte g'nlve
4..
Iis-27 Nam*
13.5Aaee IIJJUU
10:tnrfe I •20.Oa1
I4 41-44.
'SCOW
We:
loran's,
CMln+rlrn
eMw Frrrnr -t1.D M1
Mu1Nmelewnneey
Oesen l5l,a:
:' uliw
% 131ev
Hanel 1
Fare
ieti% al cfnng!Mrn
Vfnv [bolo
r,no-f i • 73 Will
:n43nnn
vr+n4810
Arlan he
11545
1954 I
1934 I
3301
1:telnm
Ijicie,m
Emcees I
Eyelet
;tee
AJ4nt oral''
'iI:tlttCeert
arrt Corm Are
rat
ernf.l Jar:
'!Vi sw,. uFln I
ICk Nair: I Mrs
114 leelmf.l Mrs
r
4 14/%
r1 41 rriWilt
C'I t. 1.}n ...filial
Ill 4 11
nn1Nl
-',.:39 .41
4'34 5.1111 .N'.Alq
4.3c41 s1Jll •nr.avl
b05 511'
cnCA
!%Weil hel i5HI
biers Cutnu J::iCI
220 E.6 Pi
None
1iHein: 3. JD
Ndre
alII ,OVF
Irtudell
'ncemee
Abbe
nmcland I1H11e
IJitiaee
Awuye
Meva-i
/vet
rvnalnLLTauMNA
I =A^IG'AC
FNiG!:,C4,
PMJCi:M I
PANDA;Diet
ErineI Ike+
been,'
I'rmeul
',mire
'mar
;11'.IIPIT,Cean
4CCeaah
.?^;Go1L.pll r 'bJO:C-
Ceeecr .'.904
•Gbetai
175541
PICIVI M- Iter1
It elPt&hv ra_n'
oahmiCerIts •25.W9
v..ttr-cv3Pan_ -75 OM
Dutlidnnaw
-2E no]
8 11111 1 4 1
mPfi39A v
EYASSK.'-k I
2. CF, I ,a Om
n.FA'
-fi RC
Lo'il"salt!
kraut
isstruae I
Avtc.ae I
very ',woo
-1C 0L'J
CW➢eilm;l
Not Inrluere
None I
Smrvi:pentane: 72.SCA
None
4}INI}',
Meld dt1e1 'IA f
rZ1 - rl. It IV4r111
ril+ n- lt1 All
i- 1-
Ae1r.:Lvl5ah Pt:
ce ortnffilf
'Irl 22. ., I
::ire .,, I6 9U2.610
let: 22 '- I�
,r-.:. 4. .R 3.74 MO
If[ 5"I
u, n;'
I NB CC('
L O an I I sin n-f119-(IIl• SBA e ill 651t, mirth A Ilin noi7-(1.1101,0liR xifaxif.r v Ill; (iris!
IIIr'tie L lr 1-1'34 Fi 9 a' JIIcv 61 ,1 J'.er fl. "'G l I ,ye 2: Uli.nin V 17 I irlin r+1:: 01,1 ti III' nll4 :n' Cat i1 010 44L'JJIi4I.
ills Erritt,1�1 Wed CrAirdr fvernitl
Of I*1
moLl. Foil UI:donnev:.lal/ r'. tini no.non a.+.:'1 1 r li r wrIi :rim heir•.Oa it ,M. r 1.Lint, ',On
0116 iSIDAI+:A' Weld Coln; Reardn
40011 vs' fie, ill Te meat.. II Aral111'r1t ;I no roIn t -V cc ranf.le: 141 if It,.&: -,:r f' II of/. ;u-6 amtle la.r, 6I•.. F' n''W':11lilt 'Oki 06 in:l+i1.
;lei
•L1 IEL I C 41'fP78UE elk 4 I I.J IPdil?th fAL- x;
]r1Ei1•AI, ELE SA' E ay
lie, Ut pro Satiridrt
No nor ehreJon, Itiv coon sale ewe lI5'OR195'7
I 0910Y20. 03
P"tn e4 Nat Set' i anon!
I I Sla CCU
IMil .(PIN
Arta. kUJLFi-r
Ftil$c I`'VX"nr YUn+. F(A^r & I NJhJ.e Fn.gnlfn
HI4'1':r Fi 11''50.
Enili.a 03111044 C4.400 4, 4'
21.158 1(205 12G@6
I:!'G"fi
tm%Ifii C -r fa ml wY 't t 6,01t4ly'ttvt re M !Jr-, rrvrnr". nee L a oar Co. ie.
jnI11O)ri r.1 V1?F:Atm:, n 5:ci5l n Se attaches ao-]er'G0
,n1ramlvnk DI Senn LlrnAw@:r A1110afh? 950 ON,
111660110 l'mue b., SafeSComprison konmel9 96,i Who CON Apprdathlittivvrlopodl s I,1A4 );J^ tern Approach iit adlebpedls
The saes et monismSeleach Y:ot-,l'ennl0084renb'ni* a tlelaal R'(bl nirddea
fel* nos effort 0tf`rn,15f rail! w`i,tt Trim rivet .wtfwh sm. 40,+111
Sfinnte: b 1Rw foal mewl_
inn 00.04Ia! L 4119:' 0 a: 0 > fell c,L9 ctrhuiLPI p''- Vkll: A:: 41.441114-41400 :6 1e lie! 6I ! 11a 581.1-11 en1,531 Nil 166 Plum 'R,lils io1 I ern
ttnnuWL1. 0 rrsGscr 1" it', t'ha'n` 04,311[1 l 444rl l li r:i no 544 i l a -,infra!'"::-PUIh L fl" Ile 1+',1'14 or alwaltrni rl ri4 I$4r. tnll'llklrl :1 111"!'h tr: It
Iuk'mi'n'hl11'r41h1 rn' 1n9Nr-Ii i ,3nail' I x' nTaa n Crq' It call! Ns- .ii olietni the C ...me orriniaa if typal, SJOIER 10 rnfl prowls 1Am'bltl fill
W'CPOMa" Wrmlem a rrnecar cif accd r'ee any "inn -till arurulr610 or aired"" tiro•' eon+.0d5Ctltlw'G
Outs on a zeowl to vINRl Inepecher or tint m,nia crC eamnor areas c1 ale subject prop!^(, defines scope et watc Moment of assumptions end Ieiiinn;l
c$tdluanr. ono sportily tetilllcitlon. my Mail opinion 0 the !Mb' Salle. Ss deracdof the Ied properly Inc Is the sueett 51 this raped N
3r San At, ii 01 ullvc✓.d)IY.. , white it Vie &At dr Ineoschsr ana th. &se ws ties M Ihb epmals&
(1*,2411r M.e; 1 any f U Marr
frill- ? al n
r:once Ma.; ow- I tr'a Maul.
2R
Uniform Residential Appraisal Report
!Mild LiwrRJ
Fie* 8962w.-,7L2xr
_A. I CiC;
L}?J!'si4__. E*:
__a.tIFH3i3_E 5,th4 _;ff'A3A31L SLL
4 :Iv5'. BAIi2 wrd '19 :1 S. - ii:alaii f n l::'
ltnoam. CO 5055080^' Setgeitire 0895 0
113 5 (;n R.; I!
Fc!. Coat^_ C0&0522'
I'uo'me, `.l snlps.l
la r5 m!ex
US. 55 rnita
51+1'ec9
i
IL 3`5 C+iQl
, t 150.000
,
:YeMitt Got: !, i.•(u.
51ry n YeG.'a rePI
- 17722 'J !`
•.3^
S.
Dili Sas i
fit GiAm19
MLdk w,'
VHint, N.-i 5ldgir
Fe filBBd
M_: G'>5670 I
IA411 ., .IEJPS
''' .I=I lug
Ih5Ld₹': ".:Y
'r cltrru
lr ;h-'ll!t.
la!a,tin ' �CIU III.
• ,t:!t.:TIIAl
vU:EJ 0 tilttClIn
ni
Can., 1 !}''-
Ce-i. 80;;
Deft 50kd',rc
nf.ce2,n^
;241,21f it
I; tin
q wl'mau
Marten i-unr.,
Had I-a•:.ee
I
LRf5Y'yl`Tn tim':e'
Fee Surme
Fee dmpc
Fee Si'
g 3"^
15]7 inn ateiCommuaw,
-;0.101i:
35 Arnim
9J.ttc
EIYw
Gae!unl-e
f]xrvummc'
='pci.'mme
1......i Tr EipiI
25:unt
2 Yl'i
1 elm:Y
Ai Nit Ia L4U' L3In
I'vt.i KKd
Y .! v±W0
VE', S..x!
Arkwl t8•
1158E
HV]t
196+
I
io;Cl•di,
4opll.rii
Lvreltti
E:ata31
Pt" Ilfir
w I.,arn CLs!
a�a Lv LJS LaIIq A=ef
IKi 19±7
I!iIi
I IIE3 bans
. in
#5
hilt kiiimi.l. bite
I .0! I :nil mac
1
J I9
+0 3
d Y.I
-, rot
V I ii I ".L
a.lwiul I I
L
5-ril 411
9811 IU.Ir
= I
iL4790 all;
:1U.40011 r
VdstnaFl 4In tit
I2;L19A fl ili l,n,lr
xe &ICI
Non
23803575'1—
f3,,r.grf5ce
•7,CCC
5i 701
216ba]0',.
Nam
7,0301
I
I
I
irrCG2STk'Iri
Aw_rmle
Avemm
M1yP1a^e
Ih1feTtEOfl!
FAF?31/N]
FANG!A_
FAirSA.
EFT.^.I''till lnite-- I
TyphB ITvt4nt
Tvneal
'. V Ira
47-Gt.aa9
4 C •:rape•
] C }wait
•T. D!
h[ftll5'dt1}PiFIt
LrgPl8FixmFool
P91. ,V''.>m
• 25.WC
C.M'.`1 4Uc1.
.20.0701
.}r11'PI P'
tPi W.2.;!
FPS,/ 7.,
:1. Fr:
-ri.0112I
".IMitTOfit,"
A'e
Ba.
'a
',,c (Jaal
- tO.fA0l
1, WI t
No' 1, l,cI+o
F41'H
:1,K10
x
xai&Fartlllria
.90,QIU',
µ:l FLry:5lIMOl dvTii"
21' 17JE
Or E
iiuin,
❑' ❑-
S
CCr11.�Wilt"
Ur 1 '
# I f)46.0Oy
I 15 '.
3 ani,10C1
I;ryIl1lr*'1st 'l'll'-TYrep7
]'tl n-'uh*i of Ur I
DOI ilnl litl-ill I Tllrrl( im I, t'.i!'Uf,!!)iP IP., niJ'B ,,till o! v'M' :l8'INS:J.
@H
xaltCi I CtikiRittELEsia_ I CD` #PAkM,5ILLe5 I LIUE1.'Al;81153±•,
�aa! dlllu' 5 n i t .i
Wo e'c, aa!t tits t INo IIrr5l enit 11Ag115999 I
I'ac' lit Pvaf ad!: ii 'rule'
I I700.009 I
Lw:l SW it
rul,l: pe.mr IUMI,r F_. -are Ialtm; Ft- a. !
yT E!Iedii_aL ul D. hot! L_:v
22oo6 jb2,n:aI !a%Ins I
NL!, 95 JI UIU ,iw UI U :!1 I3, ✓V Ott) ,l•Na L^'JC'niL ff8 r71MlinEko
-CDSEIPPFOACFL TOY by Mitiail
I':u-ph r'kyul rim JF ill?
i :14m I'If iiii. I tut C!!''!
P1u-!b^_�c
11LY Ur Wilt - Ili,' l
IlI tell l -"mkt tLI N 1_- tl
...... ..
YI I ±: I 1 .11 e- 1M l y,tit".-1,994:10.134apYAR WYtlgli
. .... �... _..... r.I.VW.V...
.tee ._._......�.........�......._
intact
E 1131A;EL II fMllt:C: If
r-ifl.,,Ci4I,I !t:
!:"C JJL l' Vk .:[ _ ___.,,- _ ___ _:
3020)]
E.v,* C'::n? n. tA31'l&l 5w'
F!ALLL'11a 5717 !1Fi n:. '20)0 --
5576)^
Id it '01W nut ..ucp'Gr vu
o o ='s9w Soli u Y e 2.2017
20CI F: I$5 1501 =_
5.0)0
4ilmpaRi enC 1 1'a; !Sftt L +: 11^i CeiAJliv} 1,211!'.•:
,pitIFPnanrciti,.mns!Linn'
r5.9Ei
rt1 Pr li I 1 351 iu I: }
I'li' it ;A•s
]I. CO
•0.5181
919.153
_
...
f :Cnl 'Tt:utr.
L I g
I .:r• dl 5e F!
34429!
or ii.: L..! I;I IVTni"!v-r _ '.
ltd 125
819 v.-'1 hP"d ., umrn'c LN^
:o rnl c<u'n.
s'',,'
11f?ICITE? YAlUE 9t COST AP II ..... __..
111Ft„^.
29
Supplemental Addendum
II q4 MN, wJ11,. f! W . ,,Lin tl , 0119
He Pio 9992 war 7
BarowenCient Hotemn
Napery Adhere 8982 WCR 74
City WIndeor
Coma; Wed
Slate Co
Au Cot* 80530-8407
Lmder
• tilt: a4Lphbozhort
Windsor 1.s 4 nnall badrpaa coalmautit•,' of IG,0O6 patr.,le. iocated neh:ly identical dietan_es from ticeeley,
Loveland and Pt Callinar and it benefits from that relationship because people in those rites'lnotring for
Mull town living will :chalet Windsor. It has a,, excellent s_hu',I system and i.c known for: the strength
,f Its community. One of Kodak's worldwide procesa,ng plants is located In Windsor alooa wit:, :!else other
small industry.
• SIAM Site
No apparent easetrants were noted. inspection presided all information regarding easdeents a,.i
encroachments, but can nor he retard on.
The silt -loot property: is located north of Windsei bordering the New Windsor Aes,crv.;ll:. It is a 154 Rare
site with a gentle wester! si:.er, providing an exaaiient mountain view off the hack patic:cs, pool area,
and from tan house.
The site se landscaped with bursa, lame nature treas. patios. icy runs, and a large in -ground swimming
pool with pool house.
pfai deafness
The eubiect is a large exedutive estate ::instructed with high gual.ity nater1+115 and finished with a high
attentlw to detiil, the haute is described as follows; custom design with a very attractive trent
elevation having angles., covered por:hes, the roof and circle driveway; Oversized four ear garage is
gully finished: toyer with rounded stilt rates leading tc the second floor., upper laves bridge overlooking
the foster and halliards rcanl stone tit* and recently updated carpet .throughout the house, billiards room
with double vaulted ceiling; Living toe& With double traved 15• Cellane and large fireplace having scene
raised hearth and brick surround; kltthen and npr.L r Slue• wt.lte panel cabinets. Corian saunters. iarge
.skylltes, and high end Gaggenau appliances; family room open to the kitchen and includes a• Laren built -au
entertainment '-tenter and book shelves; formal dining room with trayed col -ling, indirect. iignts, built-in
•hutchs and screw to the screened patio; main, flocs sweat suite adjacent to a ii) bath: upper level
bedrooms and living are;, includes en exertis.i their large easter suite with library area, .Seur.le barreled
ceiling with custom any and .!owls pe.lrtirg, thief, walk, -in nineets including a cedar -lea at, ani Later
master bath with oversized Jetted tub. mantel also opens to a Marge viewing deei; two. additional bedrag®a
each with a private bath and walk -la closet: upper level media room with built-i* bass theater room,
computer station, ataragr cabine.ts, and tnnauiu.lvea; small storm!,: basement and crawLzpace which has a
concrete tla4r.
Amenities: In ground swimming pool ano peal house located off :he south patio all •:awn area.
Aseritlee not ldclued in this report:
Natal vuibuii. 1ng measuring 1100 with Sill concrete fig:.r and .electrical.
are takers house 25 ?3b square feet has been updated and away well maintained.
• ORAR: ;alas Comparison Commits
l;ata is I.'-eted In the isir.15'c'Fart Collins area and all are similar xu custom design, overall
quellry/amaen:rien and vary in Aire and mainly parcel size. y'1r.11!y and condition adiustrsents are weed on
exterior insoectlGn and vertilaticn with the listing aaentn.
'ilia data presented is deemed the bear available.
rive comparables are included bracketing the•subie=ct _:nee, barrel size and general overall appeal.
Sales al and 42 are io.:atwd or swa14.ar sired parcels ,.'.rush cf tin* ucibjact area in the HinkleLak0 area.
$ale 41 is a ledge two story h.,usc with a full anifirostaed basement. This house lacks he the brick at
stone exterior. end overall ir:terLCt upgrades of rn ret.iect. Thera 1s only 4 t.nree car garage and rut
additional outbuildings or Amenities. •
441. 42 is located with •150' rI fake frontage. This large ranch styled huoile with c. fall Walkout tasemert
having 4' :eiiinga t9 similar in OveIaii r!ue11t.y. 'there is a large FCn.4G barn with stills, and finished
guest lusters having seasons, kitc enett4. bathroom, and tack room.
Sal;, ii is !:.cared an 4 5Yalle: par"a.1 11: tai.• itLlltop- %sLatac of Water house 1.r ,anstruete;d
of very tugs: gualit; materials and attentia1, to '.M:aL.. overall qualify being the must xlmllsl the
sub -lent. lax full wait:out =smear with ID' :ceiling nrlah' La in1u co in the total WV's: ILfing area.
There it a oversized fent de: garage. The landsoRaba :Lan 1 extennivw including water features.
30
Supplemental Addendum
FYe No 8962 wrr 7
&snow rtrut Hasbvi
Prgderk Address 8962 W+CR 74
Cdy Windsor Conk Weld
Lender
Slate Co La Code 80568-8407
Sale i4 is located vary neat the subs. t. in r h &a/leant Vexes gated zoartwiny on a smelter pares._ but
pranect with ovea 50 acres of ademou area openspace including a snail lake. This is a .resale at a newer
Iniatom built home finished with French Decor. The basement. is iinisaed Dut the Lnndsc Aping aR
minimal. There sera no Outhudillnoas of additional amenities.
fiaie YS is Jncated north .f Forr, xi a parcel. This property is aer. ut.• 4 harsh facility
having Let harm, and an additlut&al loafing sheds, The house 15. lariter than the subieL-t and has beer,
recently updated; similar r:: the subtec:. The 'ditthen was uahlated with cherry cabinets, and granite
,counters. There basement remains unfinished i:lttx thet„ is additional unfinished az..s atop this gataue..
31
Valuation of Ancillary Improvements (Tenant House and Shop)
As described in the earlier parts of the report the subject property includes the 15 acre site, main owners dwelling
and associated site improvements including landscaping, swimming pool and pool house but also a small tenant
house and shop building not included within the overall valuation of the main house. I have determined the best
measure of value for this small 936 square foot house and 960 shed is through extraction of similar residential
buildings which have sold in and around Windsor minus the contribution ofthe land. The following resulted from
that search and study:
Year Built
Size
Date Sold
Price
Land
Land
extraction
Remaining
impvts value
1924
824 SF
5/05
$139,900
.13 ac lot in
Windsor
$45,000
$94,900
($115 psi)
1937
923 SF
12/05
$140,000
.22 ac lot in
Windsor
$50,000
$90,000 ($97
psf)
1920
864 SF
8/05
$167,000
.22 ac lot in
Windsor
$50,000
$117,000
($135 psf)
1930
988 SF
5/05
$168,000
.11 ac lot in
Windsor
$45,000
$123,000
($124 psf)
Land value in column 6 was estimated using the following data:
29 Locust St.
5/05
$45,000
.11 ac excess lot
2002 Trail Ridge
5/04
$50,000
.36 ac lot outside town
1536 Sandy Lane
9/05
$55,000
.11 ac lot outside town
0 Ash St.
8/05
$43,000
.16 ac lot in town
The selected improved sales form a fairly tight range of values from about $97 per square foot of main floor living
area to about $135 after land is extracted. The average is $118. Giving equal weight to the advantage of living or
owning one of these small starter houses or rental houses in town versus the seclusion and privacy of the country
setting like subject, and recognizing the particularly good condition of subject dwelling, it is reasonable to conclude
a unit value of improvements only at $120 per square foot. Another method to estimate the value of this structure is
a net rental income capitalized by a market rate of return. Market rent is estimated at $1,200 per month or $14,400
per year. Expenses include taxes, insurance and maintenance estimated at $3,000 or about 20 percent. Applied to a
10 percent rate of return this equates to $114,000, very supportive of the indication from the extracted Sales
Comparison analysis above. None ofthe examined comparable sales included a shop. I have instead used a
reasonable depreciated cost new at $5.00 per square foot. Therefore:
Tenant House 936 sgft x $120 psf $112,320, say $112,000
Shop 960 sgft x $5.00 psf= $4,800, say $5,000
Restated Value of Main Dwelling, 15 acre site and site improvements: $960,000
Conclusions for Before Larger Parcel Valuation
Larger Parcel Value before Take:
Total Value
Total Land/Site Value
$300,000
Total Improvements Contributory Value
$777,000
Total Larger Parcel Value before Take
$1,077,000
32
PART 4 - FACTUAL DATA - PART(S) TAKEN
Description of the Part
Taken
The project being constructed by
Weld County is the widening
and realignment of County Road
74 which currently ends at CR
19 then starts again north of
subject. The proposed plan
extends the road along virgin
alignment on west of the CR 19
intersection around the south
edge of subject, veering
northerly then matching once
again the present alignment of
CR 74 further west. Only one
parcel approximately 180 feet
wide and 740 feet long is being
acquired:
Parcel3: 3.0488 ac
There are no permanent
easements. There are no
temporary easements.
Tenant Fixtures:
None
On or off Premise Signs:
None
win/ten
CIA •AC 2111
:n o.
PC
�✓JIITHEAST Ia. SECHONr
1ntANAHIr 7N.l9TN, NJNCE 17 PEAT
nn I PRINCIPM MCRYA.A
W.cF rtc-
3.0488 acres
— FNs1IN:am4 mom' R AMP INC
CP AC losaaar4 MEAk
SIGONDES AR, Is, PAM
N%A 1 PAZ
OATS PACOSOPS
Mn,-*_I-kG4s+
JJME 2. 1911•
YIYl: m1
NC-. O shu'
wiv
Hew
I M11L Nix ow rtmiemniti
immlW ALntnui sr
m Na nu )
L.T., l', I;
NORTHEAST IAA .7,1-13N 4,
O ACHIP I NORTH. AMC]E 57 nail
STN P9INLTN. MERCIAN
Sr
OWN:
@81
Nile
MR ICD m
N
,M
---- PIA ,Y Nu-
b
Illustration of the Part Taken (?N)
(NY 40.1 s WEErAPPICtillor
IK
RECCES MOHRIL
BONS C. WO 2T3
lA
lns CAIN
M ABRY
six WIT
OH MIT
'Westerly view of" Parcel 3
11
Taking Description, Con' t.
Improvements Taken: No
buildings or site improvements are
being acquired. Also none of the
irrigation water rights are
impacted. This appraisal assumes
that the county will repair any
affected entry roads or fences to a
condition as good or better than in
the before situation and replace (or
pay landowner fair bid to replace)
any disturbed irrigation structures
so that water can be supplied to the
farm similar to before the project.
This includes providing a siphon or
sleeve underneath new WCR 74
from south to north which will
allow continued irrigation water
supply to head ditch or gated pipe
which irrigates the parcel westerly.
Aerial photo of the site
Parcel 3 looking cast
14
PART 5 - ANALYSIS AND VALUATION - PART(S) TAKEN
Value of the Pans Taken
The value for the part taken is the same as the unit value demonstrated for the Before Larger Parcel. There is no
measurable difference in the portion taken versus the average unit value of the parcel as a whole. The unit value
was estimated to be $20,000 per acre in the previous section. Therefore:
Land/Site Value of Part(s) Taken
ParcelNo. 3- 3.0488 ac x $20,000/ac = $60,976
Owner off -premise sign site(s): None
Permanent Easements: None
Owner Improvements Contributory Value of Part(s) Taken
Owner Buildings/Structures, fixtures, trade fixtures, on premise signs: None. There is however an established
permanent planting of irrigated grass being impacted. The entire 3.0488 acres covers well established irrigated
hay or pasture mix.
Tenant Improvements Contributory Value of Part(s) Taken
Tenant Buildings/Structures, fixtures, trade fixtures, on or off premise signs: None
i5
Summary of Value of Part(s) Taken
Value of Part(s) Taken
Land/Site Takings:
Parcel No.
Area (Ac. or SF)
$/Ac. or SF
Value
Total Value
3
3.0488 ac
$20,000
$60,976
$
Owner Off -Premise Sign Site(s) Value
$0
Total Land/Site Value of Part(s) Taken
$60,976
Easement Takings:
Parcel No.
Area (Ac. or SF)
S/Ac. or SF
% of Fee
Value
Total Value
None
$
$
Total Easement Value of Part(s) Taken
$0
Owner Improvement Takings (Contributory Value):
Descriptions of Improvements (Buildings, structures, etc.)
Contnb. Value
Total Value
Permanent irrigated grass crop ($110 per acre planting cost, $50 per
$558
Acre for established crop)
$
$
Owner Fixtures
$
Owner Trade Fixtures (Real property)
$
Owner On -Premise Sign(s) Contributory Value
$
Total Owner Improvements Contributory Value of Part(s) Taken
$558
Tenant Improvement Takings (Contributory Value):
Descriptions of Improvements (Buildings, structures, etc.)
Contrib. Value
Total Value
None impacted
N/A
$
$
Tenant Fixtures
$
Tenant Trade Fixtures (Real property)
$
Tenant On -Premise Sign(s) Contributory Value
$
Tenant Off -Premise Sign(s) Contributory Value
$
Total Tenant Improvements Contributory Value of Part(s) Taken
$0
Total Value of Part(s) Taken
$61,534
16
PART 6 - RESIDUE VALUE BEFORE TAKE
Residue Value before Take:
Larger Parcel Value before Take
$1,077,000
Less: Value of Part(s) Taken
$61,534
Total Residue Value before Take
$1,015,466
say
$1,015,000
PART 7 - FACTUAL DATA - RESIDUE AFTER TAKE
Land/Site Data
The property does not change in use after the project but definitely changes in character and orientation due to the
proposed highway improvements. Before the tract had been developed with front orientation with privacy gates and
significant tree plantings to provide protection from the east side alignment ofCR 19. The view orientation of the
main house and location of the pool, pool house and recreation areas were all behind the house, back away from the
road and landscaping provided additional privacy. In the after condition the pool is near the road, views from the
travel lanes are into the back yard and the view corridor of the main dwelling changes from a private buffer to
highway traffic. Most of the site was in fact purchased in the early 1990s to surround the rear or west side of the
main yard with privacy buffer. That buffer is now being compromised and the value of existing gated entrance and
landscaping to protect the east side of the dwelling now rendered less valuable.
PART 8 - ANALYSIS AND VALUATION - RESIDUE AFTER TAKE
Land/Site Value
The same sales data is again applicable to the residue. Since there was no major change in use, highest and best use
and just a 3 acre reduction in size, the best sales to use for the valuation after are those listed in the prior section
before the taking. Those same sales analyzed in a similar manner to what was done in Part 3 still conclude at a unit
value of $20,000 per acre. The small remainder triangle left at the southwest corner of subject property is now
completely severed from the rest of the ownership by a new potentially four lane highway and has very little value
to the owner. It still has some limited market value as assemblage potential to another surrounding owner south of
the road but at a much reduced value. Instead of contributing at a high unit value to a valuable residential homesite
it is an odd shaped 1 acre of agricultural land. Estimated value based on other purely agricultural land sales is
$2,000 per acre or about 10 percent of the original value. As a result, subject value of the residue after the take is
estimated to be:
Residue "north" 10.875 ac x $20,000/ac = $217,500
Residue "south" 1.075 ac x $2,000/ac = $ 2,150
Total Land Value After $219,650, say $219,000
Improvement Value
The main difference in value in the after condition results from changes to the site improvements and structures. It
was impossible to simulate the differences with another more applicable set of comparable sales which have sold
subject to the new condition for subject. Although the same sales are still applicable adjustments are made to the
sales in the after condition to reflect the damages more thoroughly described in the section below. Overall valuation
of the residue improvements is $677,000. Added to land value after the total is $896,000.
17
Summary Residue Land/Site Value -Before and After Take
Residue Value Before Take:
Residue Value After Take:
Indicated Damages or Benefits to the residue:
$1,015,000
$ 896,000
$ 119,000
PART 9 - ACQUISITION ANALYSIS OF DAMAGES AND/OR BENEFITS
Damages: Damages to the remainder are a loss in value due to the project or the taking. Damages to the remainder
must be evaluated separately as to each parcel of property. To be compensable, damages must be "special", i.e.,
affecting some right or interest which a landowner enjoys and which is not shared by the public generally and must
adversely affect the fair market value of the remainder. Compensable damages are limited to those that are natural,
necessary and reasonable as a result of the taking.
In the case of subject property the orientation of the main dwelling and all associated site improvements has changed
after the project. In order to simulate a condition similar to before, it is necessary to mitigate noise and privacy
encroachments created by the new highway. It is impossible to recreate the uninterrupted view across grassy fields
to the mountains but it is possible to offset most of the loss by implementing new landscaping. A landscape
contractor, Greg Scallon of G&G Landscaping was employed to work with the appraiser to ascertain the probable
expense of curing the problem. The following table details a minimum of what should be done to mitigate the
affects of the project:
Curative Measure
Cost Estimate
Arrangement of 100 6' Austrian pine or similar
species in double row spaced at 20 foot offset
spacing along the entire length of the new right
of way including drip system
$25,000
2' high betns 50 to 75 feet in length to give
height and visual barrier from south and west
sides ofpool area. Includes hauled in fill
(within 10 miles) in two broken berm strips,
skid steer dirt work, prep and hydroseed along
with temporary sprinkler system to establish
grass
$50,700
550 lineal feet of solid vinyl privacy fence
located along south and partial west side of
main compound plus spaced pillars to match
existing construction
$14,500
Demolition of existing rail fence along south
side
$350
Job oversite and management
$10,000
Total
$100,550, say $100,000
Benefits: Specific benefits to the property as a result of the taking must be considered. These do not include
general benefits from the project but cases where the taking actually creates a value enhancement to the specific
property. The easement neither detracts nor enhances the value of the residue. The road improvements being
installed is a positive improvement for all neighboring properties as well as subject. In this case, there are no
specific benefits which result from the taking. Any benefit from having old WCR 74 and 19 as a semi private drive
and reduced distances from the house to traffic is offset by maintenance hassles on the part of the owners. No doubt
even if Weld County commits to continued ownership and maintenance of this strip of asphalt it will be very low
priority and upkeep or at least increased diligence will fall to the land owner.
1R
PART 10 - TEMPORARY EASEMENT(S) RENTAL VALUE
Temporary Easement: N/A
PART 11 -COMPENSATION SUMMARY
See Page 6 for table.
t9
Hello