HomeMy WebLinkAbout881080.tiff RESOLUTION
RE: APPROVE CONTRACT WITH ENTERPRISE APPRAISAL COMPANY AND
AUTHORIZE CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, pursuant to the agreement reached at the Board of
Equalization Hearings held in July, 1988 , the Board and Eastman
Kodak requested proposals to have an appraisal to estimate the
Fair Market Value of the Kodak property in order to determine an
equitable Ad Valorem tax assessment, with each entity to pay 50%
of the costs for said appraisal , and
WHEREAS, Enterprise Appraisal Company submitted a proposal
for said appraisal in the amount of $12 , 500 . 00 , and
WHEREAS, after review, the Board deems it advisable to
approve the Contract submitted by Enterprise Appraisal Company,
with the terms and conditions being as stated in the Contract, a
copy of which is attached hereto and incorporated herein by
reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Contract with
Enterprise Appraisal Company for the appraisal of the Eastman
Kodak facility be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is , authorized to sign said Contract.
881080
Page 2
RE: CONTRACT - ENTERPRISE APPRAISAL COMPANY
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 9th day of
November, A.D. , 1988 .
BOARD OF COUNTY COMMISSIONERS
ATTEST: 7) `1 ww 4_
h1Lk4t.�J WELD NTY, COLO DO
Weld County erk and Recorder e
and Clerk to the Board ene R../ Brantner, Chairman
BY: / ( �. C.W. Ri���ro m
fn7�,yr r a ,, .e. tit J
Deputy County C rk C
/
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APPROVED AS TO FORM: Ja••uel 'e J'. son
i
Go�•o Lac
Asy'tflt' y (t)tiorng c 74—c, ' 1
Frank Yamaguchi
881080
CORPORATE HEADQUARTERS
!m w,v �11191/F arw
489 DEVON PARK DRIVE WAYNE, PENNSYLVANIA 19087
ENTERPRISE
APPRAISAL CO. Phone: (215)687-5855 FAX: (215) 971.0760
is
November 4, 1988
Weld County Board of
Equalization
c/o Mr. Don Warden
Weld County, Colorado
915 Tenth Street
Greeley, CO 80631
Gentlemen:
In accordance with your joint request with Eastman Kodak Company and sub-
sequent to your November 1, 1988, meeting with Mr. Jack Emery, we are
pleased to submit our agreement for appraisal services. The property to
be valued is identified as the Real Estate of the Eastman Kodak facility
located in Windsor, Weld County, Colorado.
The purpose of the appraisal is to estimate the Fair Market Value of the
property to assist both parties in determining an equitable Ad Valorem tax
assessment.
The subject Real Estate contains approximately 3.2 million square feet of
building floor area situated on about 650 acres of land. The valuation of
the Real Estate will consider, where appropriate, the three (3) standard
approaches to value, i.e. the Cost, Income, and Market Data Approaches.
The agreed land value for the 650 acre plant site will be provided by
Eastman Kodak Company and the Weld County Board of Equalization to
Enterprise Appraisal Co. The waste treatment plant and the fuel storage
tanks will be valued as part of the Real Estate.
Our appraisal will be prepared to exhibit values as of June 30, 1988.
Appropriate comparable sales data will be compiled for comparable sales
from 1987 and the first half of 1988. Additional comparable sales will be
used dating back to 1983 if required. We will exhibit eight (8) compar-
able sales, and we will mention any excluded sales of industrial proper-
ties that are not valid comparables. With regard to the size of the
Eastman Kodak facility, Eastman Kodak Company and the Weld County Board of
Equalization agree to the accuracy of the building and land descriptions
already provided to us.
Five (5) copies of the appraisal report will be prepared complete with
appropriate summaries, descriptive data, and photographic exhibits. The
original report and all supporting notes will be kept on file for a period
of five (5) years, or until you have settled all issues relative to the
appraisal report.
881'?8Ci
UIREC/ (OMMUNICA[ION I INES IN THE FOL(OWING GIVES
nitteltl
ENTERPRISE
APPRAISAL CO.
.D
Weld County Board of
Equalization
November 4, 1988
Page Two
With regard to the Real Property to be appraised, we will not make any
engineering, OSHA, or environmental surveys. The values to be exhibited
in our report assumes no liability related to same, and no responsibility
will be assumed with respect to these matters.
The findings to be expressed in the appraisal report are prohibited from
being used in a solvency or fairness opinion by others or in a proxy or
other statements without written consent by the designated officers of
Enterprise Apopraisal Co. either signing or included in the qualifications
within the appraisal report.
The agreed fee for the appraisal services described is Twelve Thousand
Five Hundred Dollars ($12,500), with sixty (60) percent payable upon our
invoicing on January 2, 1989 and forty (40) percent payable upon the
delivery of our draft report. Related room, board and transportation
expenses are included in the agreed fee. We understand that the agreed
fee is to be split equally between Eastman Kodak Company and the Weld
County Board of Equalization and will be invoiced accordingly. Our
invoices are payable within fifteen (15) days of receipt.
The fee quoted represents the total cost of the described appraisal
services for this assignment based upon our understanding of the number of
separate locations and the physical sizes reported. Should either the
number of locations, physical sizes be greater, requested copies of the
appraisal report exceed the previously mentioned quantity, or should the
scope of the appraisal assignment change, the fee will be adjusted
accordingly on the final invoicing. If, for any reason, it is mutually
agreed to terminate the appraisal assignment, the fee will be pro-rated.
We guarantee that the appraiser responsible for your appraisal will be
available for conference and/or testimony. While this is not included in
our agreed fee, it will be based upon our then current per diem rates plus
travel and office expenses under separate contract.
The appraisal will commence by mutual agreement, and our draft report will
be delivered on or before February 15, 1989.
We have prepared a copy of this agreement to be signed and returned to our
office in the envelope enclosed for your convenience.
881080
tali 't 1
V!Illite
ENTERPRISE
AFFIRMS/ilia).
.o
Weld County Board of
Equalization
November 4, 1988
Page Three
Thank you for the opportunity to be of service to the Weld County,
Colorado, Board of Equalization.
Respectfully submitted,
v
ENTERPRISE7APPRAISAL CO.
enneth F. Domboski
Regional Manager
KFD:srh
cc: Mr. David Finnman
Eastman Kodak Company
ATP
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BOA F WELD COU Y COMM STONERS
NAME
CHAIRMAN
TITLE
NOVEMBER 9, 1988
DATE N
ATTEST: l �
WELD COUNTY CLERK AND RECORDER
AND CLERK TO THE BOARD
DEPUTY COUNT CLERK
891.080
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