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Address Info: 1150 O Street, P.O. Box 758, Greeley, CO 80632 | Phone:
(970) 400-4225
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egesick@weld.gov
| Official: Esther Gesick -
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20022927.tiff
.y Jew ZF r { a a LL q Ib J 4 p ACRES 1 I i tI AC 3S.1��� ��sv �. Yt But HEARIN COF +1EFNING THIS •PERTYWILLBEH D AT 915 •101h '1'STREET GREELEY, RADO 80631, ON etee,:r-r ta10r,,�`t '.` /61,'F0R MORE INFORM ¶N CALL THE WELD COUNTY DEPT. 01 ANNING SERVICES AT 356-4000 _, ilebYr 4//4 f teed 9//,0,007. EXHIBIT 2002-2927 El c5..,, M ¶2:1! U J J W co (7? U N 0 J Q �--- F- Q U w 2 W O U 0 Q O w 0 E z � 0 O d- W D � X• Lu r1 LQ > w � 0w� 9c- i= W � w z z W Q w0 QLI- wjZ W U > D 00 20 wit r• d.O„ ralfi>-;:::-S' ' .1';',.':`::<'' . . : ,, - ' ' ::: :::.,‘Z'r- 'cOr''''' 4-77,171,':-.,S;Na.0,2:eue,,,, ,-' I 4.L..-vitit,i;44, ., , : tt...,,r,i :.,,,,,Art.:ty, ' : ,....., _ . , t. . . . .::::::::.,,, . .. . ttt....tt........,,,ttitititt,,,Itttp,.., .. 4.t.y.,,,;t4.04„:„ ,, %.,„?,,,,e. I 4` tr' 4 st ` `�' -may.” k ,g- fi { X t " R i -eiy.f ae - ' _ ,•n-. L -i F g K } O >- L 2 Z c~—n Q p w � cn z = O z z w w 73 ct W 2 U >- U w H Z W Q W > W ~ U pQ 92 Q = W MD MU) J D H � W Q � Q � Q W U. 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"�.# • '�' .., ,y p MARKET REALITY • SELLING PRICES STATED ARE UNREALISTIC • INABILITY TO SELL WILL RESULT IN DEGRADATION OF THE PRODUCT • VACANT LOTS = NO UPKEEP Units land&water water land land Days on Listing Sales 0 acres price imps Sq.Ft. value/unit value/unit Value/Unit Dollars/acre market Price Price 1 1.00 650,000 00 43,560 $1.15 50 00 $1 15 50,000 1 $50,000.00 $50,000.00 2 3.00 S50,000.00 130,680 SO 38 $0.00 SO 38 16,667 206 $65,000.00 $50,000.00 3 3.30 557,000 00 143,748 50.40 $0.00 S0 40 17,273 44 $59,000.00 $57,000.00 4 4.00 574,500.00 174,240 50.43 $000 $0 43 18,625 240 $89,000.00 $74,500.00 5 4.00 575,000 00 174,240 50 43 S000 50 43 18,750 30 $80,000.00 $75,000.00 6 4.00 587,650.00 174,240 $050 50.00 So.50 21,913 74 $87,500.00 $87,650.00 7 4.71 574,900.00 205,168 S037 50.00 $0.37 15,902 162 $74,900.00 $74,900.00 8 5.00 579,900.00 217,800 SO 37 S0 00 SO 37 15,980 240 $79,900.00 $79,900.00 9 8.00 5145,000.00 348,480 50.42 5000 S0.42 18,125 233 3176,000.00 $145,000.00 10 8.30 $80,000.00 361,548 50.22 5000 50.22 9,639 172 $80,000.00 $80,000.00 11 10.00 $77,500.00 435,600 3018 $000 $018 7,750 $77,500.00 $77,500.00 12 10.00 5100,000.00 435,600 $0.23 $0.00 50.23 10,000 80 $110,000.00 $100,000.00 13 11.60 $118,000.00 505,296 50.23 $0.00 S023 10,000 9 $119,999.00 $116,000.00 14 13.00 590,000.00 566,280 $0.16 $000 So 18 6,923 $90,000.00 $90,000.00 15 14.48 $110,000 00 630,749 $0.17 50 00 $017 7,597 $110,000.00 $110,000.00 16 0 50.00 S000 50.00 0 $0.00 Size vs. Per Acre Value Recent Eaton Severance Area Land Sales $80 ............. --- E $40- . \ E g S30- oloara/aorr IS ,2 --+— $20- \,, 4,....--4---40 `,,,, 510- - . -,.►--•_,, 100 3.00 3.20 4.00 400 4.00 4.71 6.00 0.00 3.30 10.0 10.0 11.$ 13.0 14.4 acres Size vs. Per Acre Value Recent Eaton Severance Area Land Sales $60 $50 4- E as g I $30 re .... 0 5.20 •• � - __ 1 1-23 565,000 00 Baldridge 53,579 51.21 50 00 51 21 52.846 60 $65.000.00 $65,000.00 2 1.25 $68,000 00 Baldridge 54,450 $1.25 50 00 51 25 54,400 35 $68,000.00 $68,000.00 3 1.01 566.000 0o Baldridge 43,996 $1.55 50 00 $155 67,327 58 $6,800.00 $68,000.00 4 1.02 570,000 00 Baldridge 44,431 51 58 50 00 Si 58 68,627 133 $70,000.00 $70,000.00 5 1.00 $65,500.00 Casa loma 43,560 Si 50 $0 00 51 50 65,500 506 $80,000.00 $85,500.00 6 1.06 569,900 00 Casa loma 46,174 51.51 5000 $151 65,943 518 $87,500.00 $69,900.00 7 1.06 569,900.00 Casa loma 46,174 51 51 50 00 51.51 65,943 343 $74,900.00 $69,900.00 8 2.26 584,000 00 Casa loma 96,446 was so 00 $0 85 37,168 559 $79,900.00 $84,000.00 9 2.25 $89,900.00 Casa bma 98,010 SO 92 $0.00 $0.92 39,956 533 $176,000.00 $89,900.00 10 2.57 577,500 CO S.Eagle 111,949 50.69 $0.00 SO 69 30,156 295 $80,000.00 $77,500-00 11 2.90 582,500 00 S.Eagle 126,324 $0 65 $0.00 50 65 28,448 224 $77,500.00 $82,500.00 12 2.90 $90,000.00 S.Eagle 126,324 50 71 $000 SO 71 31,034 366 $110,000.00 $90,000.00 13 2.66 595,534.00 S.Eagle 115,870 50 82 $0.00 $0 82 35,915 451 $119,999.00 $95,534-00 14 2.64 $100,000 0o S.Eagle 114,998 $0.87 $000 $0.87 37,879 377 $90,000.00 $100,000.00 15 9.30 s12o,000 oo S.Eagle 405,108 50.30 50.00 50.30 12,903 398 $110,000.00 $120,000.00 16 0 SO 00 50.00 50.00 0 $0.00 Size vs. Per Acre Value Recent Baldridge,Casa Lorna,Soaring Eagle Land Sales Ur S70 t3 $60 4-3 2 isu • l firoti E $ $40- -.. ,�^,, ---+t- O � $30- ----- �_;i,....--.w'=�..........�.-...... $20 • $lr — • 123 1.25 141 t42 1.00 1.05 145 2.26 2.25 2.67 2.90 2.90 2.66 2.64 9.30 acres Size vs. Per Acre Value Recent Baldridge,Casa Loma, soaring Eagle Land Sales s70.__,_ , E $60 2 s60 e . . . c.. m • a_ $40 i,j a $30 i" $20 $10 0 1 2 $ 4 5 6 7 $ 9 10 11 12 13 14 15 R-q..re-Q.94 r 4$-14 1al rom v 8 36e+00A+.1 Be.00a■ POSITIVE ASPECTS • PROFIT TO OWNER NEGATIVE ASPECTS • INCOMPATIBLE WITH SURROUNDING LAND USES • INCREASES DANGER AT CR 31 & 70 INTERSECTION • IMPOSES LIABILITIES ONTO ADJACENT LANDOWNERS • REMOVES PRIME FARMGROUND FROM PRODUCTION NEGATIVE ASPECTS • PROMOTES TRESPASSING ONTO NEIGHBORING LANDS • CHANGES CHARACTER OF AREA • INCREASES TRAFFIC • CREATES UNMANAGABLE OPEN SPACE • NO COVENANTS TO REVIEW VOTE FOR DENIAL • RESPECT THE WISHES AND CONCERNS OF 170 NEIGHBORING LANDOWNERS AND RESIDENTS WHO HAVE VALID CONCERNS FOR THEIR HEALTH , SAFETY, WELFARE AND THEIR WAY OF LIFE . • DO NOT ALLOW THIS INCOMPATIBLE USE TO CHANGE THE CHARACTER OF THIS COMMUNITY STANDARDS IF APPROVED • PAVE CR 70 TO CR 31 • PAVE INTERIOR ROADWAY • PROVIDE ADEQUATE IRRIGATION WATER FOR OPEN SPACE AND LOTS • FENCE PERIMETER • PLANT BUFFER ON NORTH AND WEST PROPERTY LINES • INDEMNIFY ADJACENT LANDOWNERS AGAINST LIABILITY FROM RESIDENTS STANDARDS IF APPROVED • CREATE IRRIGATION MANAGER POSITION • STANDARDIZE BUILDING STYLES • LIMIT SIZE OF ACCESSORY BUILDINGS • IMPROVE INTERSECTION AT CR31 & 70 Thomas Operating Company, Inc. September 30, 2002 Mr. George DuBard, Managing Partner Cattail Creek Group, LLC 304 Immigrant Trail Windsor, CO 80550 RE: Cattail Creek Planned Unit Development, located north of and adjacent to WCR 70 and approximately 800 feet east of WCR 29. Located on Lot C of Recorded Exemption, RE-2637, in part of the SW4 of Section 9, Township 6 North, Range 66 West of the 6th P.M., Weld County, Colorado, as shown by cross-hatched area on the map attached hereto as Exhibit A. Dear Mr. DuBard: After reviewing the proposed Cattail Creek PUD, and meeting with you personally on site, I believe this development, as described by you, will not hinder the continued operation and maintenance of existing or future oil and gas activities on this site. As the development of project moves forward, we would appreciate updates to verify that there are no problems with our current operations or future drilling activities on this site. This approval is conditional upon your current development proposal, and should there be any changes to your proposed plans as presented that would impede our operations, Thomas Operating would refuse approval. Sincerely, ,r Thomas Operating, Inc. Tom Vandenberg, President _. EXHIBIT C1', 1 & -#W33 1236 49th Avenue Court • Greeley, Colorado 80634 • Phone 970.353.2861 • Fax 970.395.0209 ---- - '--- oUNANLA CREEK OIL CO PAGE 03/03 Sunday,Seplamber 22.2002 911 PM George Du9wd(wove-leap P.03 Exhibit "A" Attached hereto and made a part of the letter Agreement dated September 27,2002,between George DuBard, Managing Partner of Cattail Creek Group,LLC and Thomas Operating, Inc. 'I` Wald Cowry Rood 29 • --ill 4.I le 4 41 sans It _ 4 0Oat ZOOS ZOOS--ABC Si :. ...1 4 a 4 t F r o f I i` g o r o Irr• _ mgr agli f9 , } y*.'�<J�► A 6.3 a a> ft r `-Ri `� `C� iFs"' Sr, III J 33'0 's a.• f.- 14-1 • ft 4 41 till Iffi w i El 'a Br a$30 d 60ZP56c-0L6 61R0UapUWA wol WY 45:8 root'LZ iagweKtas',(epu j 09/27/2002 09:2R 9703510392 USDA SERVICE CENTER PAGE 01 United States Department of Agriculture 4N RCS Natural Resources Conservation Service 970-356-5097,ext3-OFFICE Greeley Held Office 970.351-0392•FAX 4302 W 9^Street Rd www.co.nres.usda.0ov Greeley,CO 80634-1317 - jon.wlcke@co.usda.gov FAX Cover Sheet From: Jon Wicks Date: September 27, 2002 District Conservationist NRCS - Greeley Field Office To: Cattail Creek Group c/o George DuBard Fax: (970)674-1630 Pages (including this one): 3 COMMENTS: Attached are the requested seeding recommendations for the acreage you were preparing to seed to grass. I have developed 2 mixes for you to consider. The mixes include the same species of native grasses, however, the "reclamation" mix may allow you to establish a stand more quickly. I commend your use of native grasses on this project. Although establishing a native grass stand may initially require more maintenance in mowing or controlling weeds, the reduced water/fertilizer/maintenance requirements of native grasses over the long run will make it worth the wait. The native grasses will also add natural beauty and enhance the wildlife characteristics of the area. If you have any questions, or need further information, give me a call at (970)356-8097, x3. EXHIBIT 09/27/2002 09:28 9703518392 USDA SERVICE CENTER PAGE 02 � t:re 1� 1•' .t. ,. c5 YOk■ nd .'.>:. Ala ,1r'{i"•.*,i :'J.4. • ) tt . ..,::. ........ .. :.•...' ...v..,..,: ,....,•.::ff is^�:�:� Wit.m. This mix is based on Range Seeding(550)specifications for native grass seedings on loamy soils. Such a mix is much like you would find on the typical Conservation Reserve Program(CRP)native grass seeding in Weld County. Native tallgrass species tlndiangrass, Switchgrass)have been used in place of some of the short-to-mid grass species in the mix to potentially add to the wildlife and aesthetic value of the grass stand. PI Variety of PLS Rate Planned Total PLS Variety SPECIES LbslAcre Mixture Per Acrs Acres Required for 100% Seeding I Nl ner Sideoats Grama 4.5 30 1-41 30.0( 42.0 Arriba Western Wheatgrass 8.0 201 1.61 30.0 48.01 1Holt IIndiangrass 5.0 ' 20 1.0 30,0 30.01 Blackwell !Switchgrass 2.5 20 0.51 30.0 15.01 I Hachita I Blue Grams • 1.5 10 0.2 30.0 6.01 100 4.6 141.0 The following wildflower/legume species could be added to the above seed mix to enhance the aesthetic values and/or improve the wildlife habitat value of the seeding: Variety SPECIES PLS Lbs/Ac. I Ladak IAlfalfa I 0.2 10 0.5I Native . Prairie Coneflower 0.2 Native Purple Prairiedover 0.1; (Native Yellow Sweet Clover Oil Note: There are numerous species of native wildflowers and legumes which can be added to the seed mix to enhance the wildlife/aesthetic values,and the above species are just a small sample of these. Check with your seed dealer for details on available species. Compiled by Jon Wicks,District Conservationist Natural Resources Conservation Service,Greeley, CO 09/27/2002 09:28 9703510392 USDA SERVICE CENTER PAGE 03 Reclamation Seed Mix Native This mix is based on Critical Area Seeding(342) specifications for reclamation purposes, on loamy soils. The same mix Is used as under the Range Seeding(550)recommendation, however, additional seed is provided in order to achieve quicker overall establishment of the grass stand. PLS Total PLS Y•of PLS Rate Planned Variety SPECIES I LbslAcre Required for @100,6 Mixture Per Acre Acres Seeding Hiner Sideoats Grama 9.0 30 2.7 30.01 81.0 II Arrlba Western Whoatgrass 16.0 20 3.2 30.0 96.0 IHolt llndiangrass 10.0 20 2.0 30.0, 60.01 Blackwell Switchgrass 4.5 20 0.9 30.01 27.01 Hachlta Blue Grama 3.0 10 0.3 30.0 9.0 I 100 9.1 273.0 The following wildflower/legume species could be added to the above seed mix to enhance the aesthetic values and/or improve the wildlife habitat value of the seeding' Variety SPECIES PLS Lbs/Ac. Ladak Alfalfa 0.2 to 0.5] Native Prairie Coneflower I 0.2I 1Native Purple Prairieclover 0.1 I ive lY611ow Sweet Clover 0.1 I Note' There are numerous species of native wildflowers and legumes which can be added to the seed mix to enhance the wildlife/aesthetic values,and the above species are Just a small sample of these. Check with your seed dealer for details on available species. Compiled by Jon Wicke, District Conservationist Natural Resources Conservation Service,Greeley, CO 10/16/2801 21:51 978-395-8997 NORTH MELD WATER P.,,.. 81/81 BOARD OF DIRECTORS NORTH WELD COUNTY WATER DISTRICT GARY SIMPSON 33247 HIGHWAY 86 • LUCERNE,CO 80646 ROBERT ARNBRECHT W.M.McKAY DON POSSELT,DISTRICT MANAGER CHARLES ACHZIGER RALPH PRIOR P.O.BOX 56 • PHONE(970)356-3020 • FAX(970)395-0997 a-mail: wacarenwerciorg October 16,2001 Todd Hodges Design,TLC 2412 Denby Court Fort Collins,CO 80526 Re: Shepardson PUD North Weld County Water Diaries Is.Me and Intends to serve the proposed 9 Lots m Shepardaon Pl1D, located in the SW%of Section 9,Township 6 North,Range 66 Weat,of the 66 Prime Meridian. The costs associated with water service shall be the current Plart&vestment Fee&Distance Fee per Lot prior to water being supplied to the subdivision or phase of subdivision. In addition this subdivision will be assessed a Fire Flow Fee end will be required to pay the District for Off-Site Infra••.ucure(approx.5,500 feet of g"waterline). The tetanal Water Mains serving the subdivision shall be paid for and constructed by the Developer,according to the Districts'Standards and Specifications, Raw Water shall be purchased through North Weld County Water District before an individual tap will be set. The Raw Water Cost may be paid by the developer,or by the individual lot owner. Refer to the following Table for the costs of the associated Fees at the present time. All Fees and Requirements are subject to change without notice,therefore;it is recommended to keep in contact with the District periodically for updated costs and requvements. Fees and Cost Time of Paymeat - - Requirements (as of December I,2001) I Off-Site Infrastructure 5140,000 After Cowry Approval,Before Construction Begins i Fire Flow Fee To Be Determined i Date To Be Determined I Plant Investment Fee 1554i000 I Date To Be Determined 1 I Distance Fee i 524.750 i Date To Be Determined Raw Water Requirement 1590,000 I Before Individual Meters will be Set Meter Set Pees I $9,000 I After Individual Meters have been Set ......� Total Fees I Developer Portion I I Total Cost for 9 Lots with 500 gym Ftre Flow I $313,000 ' 5235.000 _I It is the Developers'responsibility to have the internal water mains designed by an engineer,and such designed plans shall be approved by the District When the Developer is radyto proceed,the District and the Developer will enter into a legal Water Service Agreement If you have —any questions,you can contact me at the office(970)356-3020. Alan Overton North Weld County Water District EXHIBIT u:l9ubdfwkm\.taudsca PUV,thta lo-reet)t I �r` #G13 BOARD OF DIRECTORS NORTH WELD COUNTY WATER DISTRICT GARY SIMPSON 33247 HIGHWAY 85 • LUCERNE, CO 80646 ROBERT ARNBRECHT CHARLES ACHZIGER DON POSSELT, DISTRICT MANAGER RALPH PRIOR JOHN JOHNSON P.O. BOX 56 • PHONE (970) 356-3020 • FAX (970) 395-0997 e-mail: water@nwcwd.org September 30, 2002 Todd Hodges Design, LLC George DuBart 2412 Denby Court 304 Immigrant Trail Fort Collins, CO 80526 Windsor, CO 80550 Fax: (970) 674-1630 Re: Cattail Creek PUD North Weld County Water District is able and intends to serve the proposed 9 Lots in Shepardson PUD, located in the SW V.of Section 9, Township 6 North, Range 66 West, of the 6th Prime Meridian. With the current drought conditions, North Weld County Water District is still able to provide service to new subdivisions and individual lots. The District has also entered an agreement with Cattail Creek, which became effective on June 24, 2002. This agreement requires the Developer to pay for the installation of an 8"line from Hwy 392 to the Development. Such waterline will greatly enhance the water distribution system as well as provide fire flow capabilities, which have not existed in this area. North Weld County Water District is encouraging conservation of water, and has been doing so with rate changes made in the past several years, and hopes that increased fees (Conservation Charge, and Water Surcharge) for usage greater than normal will force conservation. For a standard tap the District provided 228,000 gallons annually this past year. For household use approximately 110,000 gallons is needed annually for a family of four, based on the Weld County usage amounts for Septic System Design. The Districts' water supply is currently in good standing and expected to be adequate for next year. The District has not imposed any mandatory restrictions at this time, but has asked for voluntary restrictions (i.e., to water between 6 p.m. and 10 a.m.). The Raw Water Requirement for all new taps will increase, effective October 1, 2002 to allow the District to continue to acquire water rights and to continue water storage projects. The fee for Raw Water will rise by 30% increasing the fee from $10,000 to $13,000 per lot. If you have any questions, you can contact me at the office(970) 356-3020. Alan Overton North Weld County Water District P:Subdivisions\Shepardson-Cattairreek PUDAPIanningCommission(09-30-02).doc E X F1 RIB IT T t— C,o #613 x4 Z z'b yer � �' � fn • � � 4( $!i 4 i e •a -,?\i � ex� 4tak —I' F 2:,,,,,P- ! .. ♦ S .. ` x + " t Ilk psi •1/4,r4,_,. � %a , r °L 'pal S y .. {� , ',,,,"4-4c,'‘._. > '4�.`T�fq 'l Y '4.. l - t ,. h, ti$?.` {M"° z': ¢ �$ irk ., `� ^� 4 al z� `may `Yj4 ' ,,,,,,„9-744,44.4 x w t ,t Iii` a ¢ , ' ' N f 4la vk14 x I s r , ' an z li 'p� F S. c. L it { Wd tY .q " 'lelib �, Y F � V 'RRg�T4 {p 1. -r s q -7 3 � wts � u i e 5 its t- 3 Yn 1 rs.<., ��,at nx �J � � As ��'��\►T.l"'1�' -.a._ j Parcels (less than 5.0 Aeres) Cattail Creek Group ... = `4" EXHIBIT 1 -G i catitea/3 I am Ruben Hergert, 12315 Weld County Road 72, Eaton, Colorado, I have been President of The Wood Lake Mutual Water and Irrigation Company since its conception 17 years ago. At the present time there is no way this system can deliver water to this development from Woods Lake. The Applicant is on record stating "there is a new concrete ditch and center pivot on the west lot which will continue to be agriculture". The ditch is the only way to get water to the property. Additional water will be forced down the east lateral concrete ditch through new culverts that are located under the road to the property. The Applicant later when questioned by planning staff went on to make several misleading and incorrect statements. In the past there was a ditch serving this property which delivered water to the 30 acre parcel on the west side of the field that is now the proposed PUD. When the center pivot system was installed this ditch was removed and no longer exists. The reasons that delivery of irrigation water to the proposed site are not feasible are as follows: 1) T he applicant would have t o deliver water from Woods L ake into Meyers Lake and t hen down an overflow line to a point where an illegal diversion box and 1600 feet of pipeline was installed by the Applicant to divert water to the subject 2 years ago. The water stored in Meyers Lake is waste or runoff water from 8 farms and does not receive water from Woods Lake. The problem with t his i s that the C attail Group has n o rights t o the overflow water flowing from Meyers Lake and filed on by downstream users. The Applicant has created points of diversion in two places and has been taking this water to irrigate with. In 2001 they had been irrigating this parcel with tail water from two other farms. These practices are not consistent with Colorado water law and will have to cease. 2) The Applicant has stated that they plan to transfer %2 share of Larimer and Weld Irrigation Company. Other interests in this water have been promised to other parties by one of the principles of this group. Nothing has ever been transferred. Larimer and Weld Irrigation Company is direct flow water which can not be stored in our system and must pass directly through and be put to use at the time of its delivery. This water will deliver usually through mid to late June however, there are years that will only run one week or less. Also, %2 share after shrink is just not enough volume to make an adequate head of water to manage efficiently. It is becoming more difficult to deliver such small amounts of water and to ask the company to further divide small amounts of water for limited time is too much burden on this Company. 3) The Applicant has sold all stored water rights from the farm (95 shares of Divide Canal and Reservoir Company) or 125 acre feet more or less. Therefore, the Applicant has no ownership of stored water rights to contribute to the Woods Lake Mutual Company. At this time of the stored water sale the applicant entered into a dry up covenant which places further restrictions on this farm. W hat this means is t hat other water that originates from Wooster Reservoir o r Divide Canal can not be utilized for any purpose on these lands. Most of the stored water owned by other share holders which passes through Woods Lake is from this source. This is an issue that will be addressed by the Board of Directors prior to the 2003 delivery season. With no reservoir water contributed the company will not be able to deliver stored water to the property. Based on what the applicant has presented it is obvious that the applicants have not planned well when it comes to water for this project. Please deny this application. I . EXHIBIT COQ #LJ3 I own Scott Realty Co. and have been actively involved in real estate sales for the past 25 years, specializing in the sale of all types of property and water rights in the rural sector. I have also been involved in the evaluation and certification of real property and water value for about as long. I have been licensed in accordance with the Colorado Regulatory Agencies as Certified General Appraiser since 1992. In addition to evaluation of land and water rights I have recently analyzed and certified value for several of the recent subdivision projects currently on line in Greeley and Eaton. I often give testimony and am recognized as a expert witness in district and divisions court cases regarding property value. The applicant has stated that the proposed subdivision which with minimal amenities consisting of a row of one acre tract housing in the County will be marketed for $150,000.00 per site with improvements consisting of custom to semi custom built homes costing $350,000.00 to $500,000.00. Apparently they haven't done an accurate study of the market in this area. This is Weld County and even though it is a desirable sector it is still Weld County. In my many years in the real estate business I have gained experience building custom to semi custom homes in the rural sector. In the past few years rising development costs, coupled with increasing land and water costs the value allocated for improvements and profit have declined. This overall cost has caused the value of the improvement which is placed on these sites to diminish for those reasons I am no long involved in such projects. Statistics as well as experience and common sense do not support these numbers in this market place. The chart presented is a summary of 1 to 15 acre parcels recently sold in this location. These sales are of individual parcels which are more desirable than the subject as they are not a part of this type of subdivision. One acre sites are very limited. However, if you consider 3-5 acre sites they basically range in value from $60,000.00 to $80,000.00. A comparison of 1 to 9 acre sites in similar subdivisions are demonstrated on the next chart. Please note the time on the market. If these lots were to be marketed in the price range suggested the discount over time would consume the project.+ So lets all be honest here, the true market for these lots are in the range of $65,000.00 to $75,000.00 and if allowed to proceed the improvements will diminish if the market is slow. The Applicant indicated minimums of 1,500 square foot improvements, using simple math this equates to a $75,000.00 site with a $140,000 improvement and $25,000 in site improvements or $240,000.00. Products in this price range may stand a chance, but that is not what is being represented and is not comparable with the surrounding land uses. I discussed financing for these types of properties with Tom Rainbolt, a knowledgeable lender from Farm Credit Services who studies much of this activity as well. He indicated feelings the same as mine in that farther into Larimer County a project of this nature may stand a chance based on the numbers presented. We were both in agreement that the project as described has no place in this location. EXHIBIT a toe. tt"L L13 The market clearly does not support this project as proposed. There is an adequate supply of unimproved lots and existing improved properties to satisfy the market for quite some time. Therefore, supply and demand are in equilibrium. There is a great deal of development coming on line on both sides of the county line and between Windsor and Severance with more amenities and infrastructure. This will better satisfy the demand for this type of housing for many years to come. In addition to not being economically feasible, the applicant promised some type of covenants to govern the project. As we all know that if there is no enforcement then these covenants really have no meaning. This is a lot like handing the key for the cheese locker to the rats. Also, the proposed development is incompatible with the surrounding land uses. This is neither the time or place for this type of development. This Developer does not have a history or track record of successfully completing a project of this nature. Units land&water water land land Days on Listing Sales 0 acres price imps Sq.Ft. value/unit value/unit Value/Unit Dollars/acre market Price Price 1 1.00 $50,000.00 43,560 $1.15 $0.00 $1.15 50,000 1 $50,000.00 $50,000.00 2 3.00 $50,000.00 130,680 $0.38 $0.00 $0.38 16,667 206 $65,000.00 $50,000.00 3 3.30 $57,000 00 143,748 $0.40 $0.00 $0.40 17,273 44 $59,000.00 $57,000.00 4 4.00 $74,500 00 174,240 $0.43 $0.00 $0.43 18,625 240 $89,000.00 $74,500.00 5 4.00 $75,000.00 174,240 $0.43 $0.00 $0.43 18,750 30 $80,000.00 $75,000.00 6 4.00 $87,650.00 174,240 $0.50 $0.00 $0.50 21,913 74 $87,500.00 $87,650.00 7 4.71 $74,900.00 205,168 $0.37 $0.00 $0.37 15,902 162 $74,900.00 $74,900.00 8 5.00 $79,900 00 217,800 $0.37 $0.00 $0.37 15,980 240 $79,900.00 $79,900.00 9 8.00 $145,000 00 348,480 $0.42 $0.00 $0.42 18,125 233 $176,000.00 $145,000.00 10 8.30 $80,000.00 361,548 $0.22 $0.00 $0,22 9,639 172 $80,000.00 $80,000.00 11 10.00 $77,500.00 435,600 $018 $0.00 $0.18 7,750 $77,500.00 $77,500.00 12 10.00 $100,000 00 435,600 $0.23 $0.00 $0.23 10,000 80 $110,000.00 $100,000.00 13 11.60 $116,000.00 505,296 $0.23 $0.00 $0.23 10,000 9 $119,999.00 $116,000.00 14 13.00 $90,000 00 566,280 $0 16 $0.00 $0 16 6,923 $90,000.00 $90,000.00 15 14.48 $110,000 00 630,749 $017 $000 $017 7,597 $110,000.00 $110,000.00 16 0 $0 00 $0.00 $0 00 0 $0.00 Size vs. Per Acre Value Recent Eaton Severance Area Land Sales $60- __ -_. $50- -+ m L C0• C e I $30- - - Dollars/acre W • t ♦ O E20- • • • • • • ♦ ♦ $10- • ♦ -• • ♦ • $0 1.00 3.00 3.30 4.00 4.00 4.00 4.71 5.00 8.00 8.30 10.0 10.0 11.6 13.0 14.4 acres Size vs. Per Acre Value Recent Eaton Severance Area Land Sales $60- e$50- -_..+ o N $140.. 10 a ri I $30— n1 0 - O — $20- •• • • ♦♦ • $10- _- ._• _ -_-• • 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 R-square=0.529 #pis=14 acres y=3.05e-.004♦-2.1e+003x Units land8water water land land Days on Listing Sales 0 acres price subdivision Sq.Ft. value/unit value/unit Value/Unit Dollars/acre market Price Price 1 1.23 $65,000.00 Baldridge 53,579 $1 21 $0.00 $1 21 52,846 60 $65,000.00 $65,000.00 2 1.25 $68,000 00 Baldridge 54,450 $1 25 $000 $1 25 54,400 35 $68,000.00 $68,000.00 3 1.01 $68,000 00 Baldridge 43,996 $1 55 $000 $1.55 67,327 58 $6,800.00 $68,000.00 4 1.02 $70,000 00 Baldridge 44,431 $158 $0.00 $1.58 68,627 133 $70,000.00 $70,000.00 5 1.00 $65,500 00 Casa loma 43,560 $1.50 $0.00 $1.50 65500 506 $80,000.00 $65,500.00 6 1.06 $69,900.00 Casa loma 46,174 $1.51 $0.00 $1.51 65,943 518 $87,500.00 $69,900.00 7 1,06 $69,900 00 Casa loma 46,174 $1.51 $0.00 $1.51 65,943 343 $74,900.00 $69,900.00 8 2.26 $84,000 00 Casa loma 98,446 $0.85 $0.00 $0.85 37,168 559 $79,900.00 $84,000.00 9 2.25 $89,900.00 Casa loma 98,010 $0.92 $0.00 $0.92 39,956 533 $176,000.00 $89,900.00 10 2.57 $77,500 00 S. Eagle 111,949 $0.69 $0.00 $0.69 30,156 295 $80,000.00 $77,500.00 11 2.90 $82,500 00 S. Eagle 126,324 $0.65 $0.00 $0.65 28,448 224 $77,500.00 $82,500.00 12 2.90 $90,000.00 S. Eagle 126,324 $0.71 $0.00 $0.71 31,034 366 $110,000.00 $90,000.00 13 2.66 $95,534.00 S. Eagle 115,870 $0.82 $0.00 $0.82 35,915 451 $119,999.00 $95,534.00 14 2.64 $100,000.00 S. Eagle 114,998 $0.87 $0.00 $0.87 37,879 377 $90,000.00 $100,000.00 15 9.30 $120,000.00 S. Eagle 405,108 $0.30 $0.00 $0.30 12,903 398 $110,000.00 $120,000.00 16 0 $0.00 $0.00 $0.00 0 $0.00 Size vs. Per Acre Value Recent Baldridge,Casa Loma,Soaring Eagle Land Sales $80- -- —.— $70 ♦ ♦ a ♦ ♦ • tl . $60-co v E j $50 Dollars/acre al 2 $40 -. ♦ - ♦. C ♦ ♦ • L] $30 ♦._ ..--_♦ $20 • $10 , , , , • • 1.23 1.25 1.01 1.02 1.00 1.06 1.06 2.26 2.25 2.57 2.90 2.90 2.66 2.64 9.30 acres Size vs. Per Acre Value Recent Baldridge,Casa Loma,soaring Eagle Land Sales $80 $70 $ E $so L NEsso - 1$ $20 $10 , 0 1 2 3 4 5 6 7 B 9 10 11 12 13 14 15 R-spare=094 *Opts=14 acres y=8.36ee004+-19e+004x
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