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Home My WebLink About930709.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO PETITION OF: GREELEY NATIONAL BANK P 0 BOX 1098 GREELEY, CO 80632 DESCRIPTION OF PROPERTY: PIN: R 2810886 PARCEL: 096105315020 - GR 4830 L1 TO 7 BLK44 (ANNEX BLDG) 77TH ST & 8TH AVE% WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County, fixed and made by the County Assessor for the year 1993, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s) , and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 1993, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present, and WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the evidence presented at the hearing fully supported the value placed upon the property by the petitioner. The assessment and valuation of the Weld County Assessor shall be, and hereby is, adjusted as follows: 930709 As6027 Page 2 RE: BOE - GREELEY NATIONAL BANK ORIGINAL ADJUSTED Land $ 80,500 $ 80,500 Improvements OR Personal Property 260, 708 169,500 TOTAL ACTUAL VALUE $ 341,208 $ 250, 000 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 29th day of July, A.D. , 1993. BOARD OF COUNTY COMMISSIONERS ATTEST: WELD COUNTY, COLORADO ri /, Weld County Clerk to the Board ��j5�ty-2•,r,CJ (�(�l-'I /' Constance L. Harbert, Ghairman BY: ( `" A60_ t ',mac" ABSTAINED ((((Deputy Cler�Ctt o the Board W. Webster, Pro-Tem APPROVED AS TO FORM: _ ,,C4/ /GeorgeJ Baxte�: �y� , C/2 -Gounty Attorney --- le K. Hall 1.. / arbara J. Kirkm'-c/), 4 61 930709 BOE DECISION SHEET PIN 4: R 2810886 PARCEL It: 096105315020 GREELEY NATIONAL BANK P O BOX 1098 GREELEY, CO 80632 HEARING DATE: July 29, 1993 TIME: 10:00 A.M. HEARING ATTENDED? (y tai NAME: AGENT NAME: TAX PROFILE SERVICES INC APPRAISER NAME: DECISION: DECREASE IN VALUATION 7L INCREASE IN VALUATION NO CHANGE IN VALUATION ASSESSMENT RATIO ACTUAL VALUATION ORIGINAL ADJUSTED Land $ 80,500 $ �O)SOD Improvements OR Personal Property 260, 708 J& 9, roo Total Actual Value $ 341,208 $ ez3SDJ D©72 COMMENTS: ,A"-' 4s%4 ✓ MOTION BY TO o- -^ SECONDED BY 2314/ Baxter Y N) Hall -- IN) Failed to meet burden of proof Harbert -- 4'N) Comparables inadequate Kirkmeyer -- eN) � Other: Webster -- a..e.;4--) RESOLUTION NO. SZC7C9 J '93 12:05PM RBC CENTRAL RCCTG v,r,LL W. CUUP.4i101'sSUx 1400 NORTH 11th AVE, • - OREELEY, COLORADO S0631 NOTICE OF 'DENIAL' ' PHONE (303) 353.3843,EXT. 3656 • GR 4830 LI 'TO 7 •BLK44 f ANNEX BLDG1 • • • *7TH ST C 8'TH' AVE% iOLORADO • . 7TH 8 3AV 4 OGREELEY OWNER GREELEY NATIONAL BANK • GREELEY NATIONAL ' BANK PARCEL 096105315020 • PIN R 2810886 P D BOX 1098 YEAR . 1993 GREELEY ' CO 80632 LOG 02249 • 05/28/1993 ' . . The appraised value of property Is based on the appropriate consideration of the approaches to value required by law.The Assessor has determined that your property should be Included In the following category(ies): RESIDENTIAL PROPERTY 'IS VALUED g•Y 'CONSIDERING THE MARKET APPROACH. . AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY •THE EARNING OR PRODUCTIVE CAPACITY OF THE LAND, CAPITALIZED AT ' A RATE SET BY LAW. . ALL OTHER PROPERTY, INCLUDING VACANT :LAND, IS VALUED BY CONSIDERING THE COST, MARKET, AND INCOME APPROACHES• if your concern Is the amount of your property tax, local taxing authorities (county, city, fire protection, and other special districts) hold 'budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. s Assessor has carefully studied all available Information, giving'particular attention to the specifics included on your protest and has deter• pined the valuation(s) assigned to your property.The reasons for this determination of value are: YOUR PROPERTY HAS BEEN UNIFORMLY 'VALUED FOLLOWING COLORADO LAW AND INSTRUCTIONS PUBLISHED BY 'THE' STATE DIVISION OF PROPERTY TAXATION. YOUR PROTEST 'OF VALUE HAS BEEN DENIED DUE TO COMPARISON OF OTHER SIMILAR PROPERTIES WHICH SOLD DURING THE 1991/1992 TIME PERIOD• THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY VALUE TO BE CORRECT FOR THAT PERIOD: • ' ' PETITIONER'S . • ASSESSOR'S VALUATION • PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW LAND 8O, 500 5O j50Q IMPS 260,708 260,708 • ' ^J TOTALS $ $ 341, 208 $ 341 ,20* 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. Please see the back of this form for detailed information on filing your appeal. By: WARREN L. LASELL 06/02/93 93V 6 DATE `,�y f_9 52 WELD COUNTY ASSESSOR • WELD COUNTY ASSESSOR ° ECE PETITION FOR REVIEW fI!! O 7 1993 GREELEY,COLO. TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZATION Petitioner, BANC ONE COLORADO CORP c/o Tax Profile Service (TPS INC. ) 1123 Auraria Parkway, Suite G-100, Denver CO. 80204, requests review of the County Assessor's Notice (s) of Valuation for Subject Property (described below) for tax year 1993 . Copies of the Personal Property notices of valuation are attached hereto and incorporated herein by reference. DESCRIPTION OF SUBJEC PROPERTY: Schedule # 09610531,020 Location : GREELEY NATIONAL BANK The Subject Property is described, with Schedule numbers, a copy of which is attached hereto and incorporated herein by reference. ESTIMATED TIME FOR PETITIONER TO PRESENT CASE: 60 minutes, or 1 hour. REPRESENTATION: Petitioner requests a hearing at which petitioner will be represented by the following registered agent, Tax Profile Service INC. , or legal counsel: (303) 628-0405 CERTIFICATE OF SERVICE I certify that I have served a copy if this Petition, with attachments, on the County Board of Equalization by hand delivery, this 2nd day of JULY ,1993 TAX PROFILE SERVICE, INC. By: Y(b.VIA •-A..t,c Je fer, �i •nroe 112 I, r - Parkway, Suite G-100 Denver Colorado, 80204 Telephone: (303) 628-0405 93v (IC. (4 T CLERK TO THE BOARD \ P.O. BOX 758 GREELEY,COLORADO 80632 WI c (303)356 EXT.4225 I p COLORADO July 9, 1993 Parcel No. : 096105315020 PIN No. : R 2810886 GREELEY NATIONAL BANK P 0 BOX 1098 GREELEY, CO 80632 Dear Petitioner(s) : The Weld County Board of Equalization has set a date of Thursday, July 29, 1993, at .or about the hour of 10:00 A.M. , to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, . 915 10th Street, Greeley, Colorado, in the First Floor Hearing Room. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor will be present before the Board. The Board will make their decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 1993, and mailed to you on or before August 10, 1993. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are - valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. 9307(9 GREELEY NATIONAL BANK - R 2810886 Page 2 At least two (2) working days prior to your hearing the Assessor will have available, at your request, the data supporting his valuation of your property. Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BO RD OF EQt ,LIZ' ION 111 4 /vva Donald D. Warden, Clerk to the Board BY: Carol A. Harding, Deputy cc: Warren Lasell, Assessor 1..--TAX PROFILE SERVICES INC, 1 pi rOS ' aCosy eb g326 a SoraSt� -1 gig ioga agorys86 cg / o916 .so y6,86 o8os-3�� Banc One - Greeley Downtown Schedule 10961-05-3-15- 022,018,020 821 8th Street, Greeley Several factors have contributed to the decline in value regarding the bank properties located in Weld County. The first and most influential factor is the economic obsolescence attributable to the entire State of Colorado during the economic downswing of the late 1980's. Economic Obsolescence is defined as: External obsolescence, the diminished utility of a structure due to negative influences from outside the site, is incurable on (sic) part of the owner, landlord, or tenant. The total value loss due to external obsolescence must be allocated between the land and the improvements. External obsolescence can be caused by a variety of factors - e.g. , neighborhood decline; the property's location in a community, state, or region, or market conditions. An estimate of 1 external obsolescence should be based on thorough neighborhood or district analysis. Our analysis of the banking industry throughout State of Colorado reflects a tendency to overvalue bank facilities, primarily caused by the incorrect utilization of the cost approach to value. Almost all county assessors place their prime reliance on this approach. Without correcting this approach in recognizing functional obsolescence (both curable and incurable) , and external obsolescence, bank properties experience an overvaluation of 40% on average. The Weld County Assessor has recognized that the cost approach to value would need considerable adjustments in the form of depreciation that would render this approach unreliable. The Assessors office as well as the petitioners representatives have placed the income approach to value as the best indicator of true market value. The market approach was used as a measure to support the value conclusion. Cost Ap proach: Income Approach: $3 ,784 ,849 Market Approach: Value Conclusion: $3,784,849 'The Appraisal of Real Estate, American Institute of Real Estate Appraisers, Ninth Edition, p.395 9307C9 SURVEY FOR: WELD COUNTY ASSESSOR PROPERTY OWNER: BANC ONE OF COLORADO CORP ADDRESS: 821 8TH STREET TYPE: BANK PIN: 2810986 BANK OFFICE ANNEX NET LEASABLE 23 ,525 76, 024 18, 800 RENT PER SQUARE FOOT $12 .00 $8.50 $6 .00 POTENTIAL GROSS INCOME $282, 300 $646 , 204 LESS VACANCY* r $112 , 800 12.79% 33 .00% 40. 00% EFFECTIVE GROSS INCOME $246, 194 r $432, 957 $67, 680 LESS EXPENSES 35% 35% 35% NET OPERATING INCOME $147,389 $206, 785 $43 ,992 OVERALL CAP RATE 10. 52% 10. 52% 10.52% ESTIMATE OF VALUE $1,401, 035 $1, 965, 640 $418,175 TOTAL ESTIMATE OF VALUE $3, 784, 849 * Based upon unusual condition associated with branch banking. Employee reduction 12.79% 2307 I I Band of Investment Technique I Market information indicates that available funding for properties of like utility to the subject are typically written on a cash sale or merger basis, therefore market interest rates for the base period must be used to determine the capitalization t rate. As of June 30 , 1992 the prime interest rate was 7%, including 1.5% for a conservative increase to market rates, yields an 8 .5 cost of funding. Typical loans written during this period on typical propertes were at a 70% loan to value ratio. This scenario yields a mortgage constant of .1166 assuming a 25 year amortization period at 11%. The equity dividend rate has been estimated at 10%. The Band of Investment Technique is developed as presented below: {@a . 70 (Mortgage Ratio) x . 0960 (Mortgage Constant) = . 06720 . 30 (Equity Ratio) x . 06 (Equity Dividend Rate) = . 01800 Ad Valorem Taxes = . 02000 Indicated Capitalization Rate = . 1052 Rounded To: 10. 52% Due to the mill levy being 104 mills, the ad valorem must be added onto the capitalization rate calculation as it is not being deducted as an expense on the attached income approach. 1 I 9307 •) I STATEMENT OF AGENCY cc Property Owner, Banc One Colorado Corporation, hereby appoints Tax Profile Services, Inc. (hereinafter " TPS" ) , as Property Owner' s representative in connection with the valuations for assessment of Property Owner' s real and/or personal property which is contained in Addendum A attached hereto, for the years 1990 through 1994 , for taxes payable the following year (hereinafter " Subject Property" ) . TPS shall have full authority to review all applicable records relating to the valuation for assessment of the Subject Property; to negotiate the valuation for assessment of the Subject Property with the County Assessor, with any representative of the Assessor' s office, or with the County, at an amount which TPS deems appropriate in the circumstances ; and to pursue any statutory remedies which Property Owner may possess before the County Assessor, County Board of Equalization, County Board of Commissioners, Board of Assessment Appeals , District Court, Appellate Courts , or in binding arbitration in the Property Owner' s name and in Property Owner' s behalf . This agreement shall remain in effect until revoked in writing by Property Owner. Banc One Col 'ado Corporation b c. )/Pr pS!/%/1- State of Clatefen o , ie.v;;ec County of ) ss. The foregoing agreement was acknowledged before me thisday of" loaAcA , 19 93 , by GARRy RFms de// (if a natural person or persons, insert name(s) ; if by a person acting in a representative or official capacity or as . attorney-in-fact, insert the name and identify the capacity in which it is executed; if by an officer of a corporation, insert the name of such officer and identify the office. ) I Witness my hand and official seal. v. Notary Public My commission expires: Siathi s EXNI` IT Banc One - Greeley 9th Street Convenience Center Schedule # 096106426020 1212 9th Street, Greeley Several factors have contributed to the decline in value regarding the bank properties located in Weld County. The first and most influential factor is the economic obsolescence attributable to the entire State of Colorado during the economic downswing of the late 1980's. Economic Obsolescence is defined as: External obsolescence, the diminished utility of a structure due to negative influences from outside the site , is incurable on (sic) part of the owner, landlord, or tenant. The total value loss due to external obsolescence must be allocated between the land and the improvements. External obsolescence can be caused by a variety of factors - e.g. , neighborhood decline; the property's location in a community, state , or region, or market conditions. An estimate of external obsolescence should be based on thorough neighborhood or district analysis. l Our analysis of the banking industry throughout State of Colorado reflects a tendency to overvalue bank facilities, primarily caused by the incorrect utilization of the cost approach to value. Almost all county assessors place their prime reliance on this approach. Without correcting this approach in recognizing functional obsolescence (both curable and incurable) , and external obsolescence, bank properties experience an overvaluation of 40% on average. The Weld County Assessor has recognized that the cost approach to value would need considerable adjustments in the form of depreciation that would render this approach unreliable. The Assessors office as well as the petitioners representatives p atives have placed the income approach to value as theI ! best indicator of true market value. The market approach was used as a measure to support the value conclusion. Cost Approach: Income Approach: Market Approach: $250,000 Value Conclusion: $250,000 1The Appraisal of Real Estate, American Institute of Real Estate Appraisers. Ninth Edition, p.395 93017,rn f.. S —n�. t rvi°iC fixa • 0— ___— .ate ,,,-(-- ,. -A ,,. w 1 FM CO =�� . .. . 3 w alts -- z .� .r a *,, liar. Yl ' o is, — x I r 11'20m -__ . AI. dka '2 if `' t O kn kV� rµ t -- _ ry , 4 m I t t ` � ' J z m E t 1 d t r r '. z `o m a f 1 t .` o corr:f. In i r or i y 1- Lt cr 111 .010 03 D 1 44 {( qlr 4a� ¢ t J .��..F 4 f Y �' �µ £ J a 2 4 zd_ t _ ffi : Q _. __ -_- — — III -- . rc J < .0- J a I- U O Cl ^m Co �() as lC. J IV, 1 aCC at de _ z+ - aa U -- a�� 1..kr t .. { a b O N. 0 r". C �t 0 0) 'm m m m m 2 0 0 a e W r� _ Em �� i � C�� /� _x E ' Oa 8 8 I rya ' 4,1 1 _ C W _ >: ffw d LLI o _ LLLL� c, O [. o 1 ≥ a !,, ._. m rc ' _« .. Q w o ¢ m J [ (1. w v. .- t -.- — . - ____.— r 2 00 VI -O ] r_'.. r." _ a) 0 J. U F-- <U rrn N r_ 1 i 'C 'I o E a E — O F W •... Cr V.3r- I- ' € of o = O =: '-. F E N 0 Li >, -at >a �— � w '" a a. cn 1 .7 III '.; t, _. oo It J z � 0y l L, o-.I n 0 z ; a ti , - r- a a L r R w .-E o o≥ b en a a r IN e - 3 - H .--11 j•q V 3 N N 0 z 6 ,1 O K �: _ 0 a w C.` " ' a z rc o a f w o z N� m �N [�an r 9.3Q3 J EXHIBIT 13 i 1 MI ncoh"� #1)10; 353Th1$ • COMPARABLE SALE m1gd.}Sg6 208 E d-b�s36 6 3 eaNBi a810cc(o I 3o) 9ifeto . )a93c b -: �.. a - _ . "�' —�� 6 �--,.•�_ r Illillitawile ••,,'? „ fir` I � am' t�4.'�* ,�v r^' —L s4p4k orb`r ,47.-,7 ; ..,d ..t•-- re F ,•. _ c. 4.a� Y n C. d.` ;5 it <! � S{ PIN: 1448686 PARCEL # : 80720115029 OCCUPANCY: BANK ADDRESS: 1041 W MAIN ST WINDSOR PROJECT: 0 BOOK # : 1283 F SALE DATE: 11/30/90 RECEPTION # : 2234556 SALE PRICE: $492,000 ADJ SALE PRICE: GRANTOR: BANK OF WINDSOR INVESTMENT GRANTEE: BANK OF WINDSOR YEAR BLT: 1982 LAND/BLDG RATIO: 13 . 38 BLDG SIZE: 4, 363 IMPS PRICE/PSF: $86 .01 CLASS: D SALE PRICE/PSF: $112. 77 CONSTRUCTION-QUAL: GOOD CASH DOWN: $492 , 000 WALL HEIGHT: 14 LOAN: 0 STORIES: 1 INTEREST RATE: 0.0% BSMT SIZE: 0 LOAN TERM (YRS) : 0 LAND SIZE: 58370 POINTS PAID: 0 LAND VALUE: 116740 BY WHOM: 0 REMARKS: PREVIOUS SALE 5/85 $400,000 9301199 COMPARABLE SALE 209 �{ ti v %" i t S 4%. -- I .�x I H. 104.' T.1 St1/2eleei4714 teCr/ I'i k '"5e'y'N4 . P .. A �..: E.'S'- 4'ii � v4.C`-afT� r �'t J f' ` . -rT 1 tiarkic v ' X. e t}lr-r1 ,v tr- ..{', is K e8 x- r +u I L :fait,T.ti'f'/'4 ... "N..`(S` Y-, iltt e, , ,.y `' deaf.. `l.. ..a _ ....._.mow_. _ s'! { PIN: 0071688 PARCEL #: 96105333008 OCCUPANCY: BANK ADDRESS: 1000 10 ST GREELEY PROJECT: 0 BOOK # : 1179 SALE DATE: 12/07/87 RECEPTION # : 2123804 SALE PRICE: $1, 575,000 ADJ SALE PRICE: GRANTOR: UNITED BANK OF GREELEY GRANTEE: CITY OF GREELEY YEAR BLT: 1974 LAND/BLDG RATIO: 4. 46 BLDG SIZE: 17, 042 IMPS PRICE/PSF: $76 . 81 CLASS: C SALE PRICE/PSF: $92 . 42 CONSTRUCTION-QUAL: GOOD CASH DOWN: $1 , 575 ,000 WALL HEIGHT: 20 LOAN: 0 STORIES: 2 INTEREST RATE: 0.0% BSMT SIZE: 9503 LOAN. TERM (YRS) : 0 LAND SIZE: 76000 POINTS PAID: 0 LAND VALUE: 266000 BY WHOM: 0 REMARKS: BLDG WAS BANK NOW CITY COMPLEX. SALE DID NOT INCLUDE DRIVE-UP BANK FACILITIES .910"7,99 1 COMPARABLE SALE L 215 • • ..n- 1' � 2 PIN: 0085388 PARCEL # : 95911116023 OCCUPANCY: BANK ADDRESS: 3690 W 10 ST GREELEY PROJECT: 0 BOOK # : 1089 SALE DATE: 10/28/85 RECEPTION # : 2030143 SALE PRICE: $1 ,500 ,000 ADJ SALE PRICE: GRANTOR: CENTRAL BANCORP GRANTEE: HEIMICK RICHARD YEAR BLT: 1981 LAND/BLDG RATIO: 12. 87 BLDG SIZE: 11,094 IMPS PRICE/PSF: $83 .74 CLASS: C SALE PRICE/PSF: $135. 21 CONSTRUCTION-QUAL: AVG CASH DOWN: $0 WALL HEIGHT: 28 LOAN: 0 STORIES: 2 INTEREST RATE: 0 .0% BSMT SIZE: 5547 LOAN TERM (YRS) : 0 LAND SIZE: 142775 POINTS PAID: 0 LAND VALUE: 571000 BY WHOM: 0 REMARKS: 1 FLR BANK 5547 SF; 2ND FLR OFFICE 5547 SF BSMT BANK 5547 SF. CANOPY 1625 SF. BANK LEASE 14 .71 NET, OAR 10 .88% 930+'1/19 t t. COMPARABLE SALE 1011 _ +t 4 -r ,att I I I« . 4 .) 4*.::', . :` Wit- veil Greek's/ b. F a I • b i�r`k" 'WC4.Y� 1✓ f �ta PIN: 0134291 PARCEL # : 961082210010 OCCUPANCY: BANK ADDRESS: 822 14 ST GREELEY SALE DATE: 01/02/91 SALE PRICE: $625,000 GRANTOR: BANK OF GREELEY GRANTEE: HOUSEL, JERRY ETAL CONSTRUCTION-QUAL: 0 PR/SF(IMPS) : $68.77 BLDG SIZE: 6 , 180 PR/SQ FT: $101.13 YEAR BLT: 1973 LAND SIZE: 70,785 CLASS: C LAND VALUE: $200,000 WALL HEIGHT: 10 LAND/BLDG RATIO: 11 .45 REMARKS: INCLUDES 4 BAY DRIVE UP AND STORAGE BLDG 16X16= 256SF APPRAISER VALUE $1,000 NET RENT $12.82 PSF 15 YEAR LEASE I P COMPARABLE SALE 183 ,_ t2 1 k\ f , ` `iii \ i� T 1 Rte` ; h ..4..a 'gym s 4' d ' .---- =-*-:*:-- ..-.:S5�' .��r.,�lsa,t.:?e*is .y es ' . ti 1 'i«.,sq kftt 1 r'iys+✓ *s<"' s.o. t u- r-k .S.,:,w.! 4 i Z` -I, A4,74,- .- 7 , wa s, PIN: 3761286 PARCEL #: 96119200023 OCCUPANCY: BANK ADDRESS: GREELEY MALL 1800 GREELEY SALE DATE: 12/12/88 SALE PRICE: $450,000 GRANTOR: COLORADO NATIONAL PROPERTY GRANTEE: FIRST NATIONAL BANK BLDG SIZE: 6,530 CONSTRUCTION-QUAL: AVG YEAR BLT: 1973 PR/SF(IMPS) : $62.16 CLASS: C PR/SQ FT: $68.91 WALL HEIGHT: 14 FT LAND SIZE: 44,110 LAND VALUE: $44 ,110 LAND/BLDG RATIO: 6. 75 REMARKS: / COMPARABLE SALE 1041 L s4°N len7:`9� ! .‘211:4`CIA fi!' .,4 .A-'4O.e., .feT ; i r3 >. F� C'&c%radc.QrdiIua/faa1. yt II • t I a a 1 PIN: 0955786 PARCEL #: 70931319020 OCCUPANCY: OFFICE ADDRESS: 213 1 ST EATON SALE DATE: 07/31/91 - SALE PRICE: $90,000 GRANTOR: BOWNESS, WM TRUST GRANTEE: COLO INDUSTRIAL BANK CONSTRUCTION-QUAL: 0 PR/SF(IMPS) : $23 . 73 BLDG SIZE: 3 ,660 PR/SQ FT: $24. 60 YEAR BLT: 1926 LAND SIZE: 2 ,250 CLASS: C LAND VALUE: $3 ,150 WALL HEIGHT: 14 LAND/BLDG RATIO: 0.61 BSMT SIZE: 1560 REMARKS: BLDG INTERIOR REMODELED 1981. AT SALE NET LEASE $1 , 000/MO($2 . 80 PSF) . 1 FLR 2080 SF + BSMT OFFICE 1580 SF=3660 SF / N Y: a ; O O. m -r N M a a•rn a•� m m CO m ��++ � : v rn o of co* , m YIW ig 'be en m; 't as s• » +n `n to CO CO am . - •2 c' f .r w:.E L N • b .� R N p u. '�'.m ro v w m o ' m :Y m m C ts N tID6:G $ 5+ 0 "am F N C -o 2 N m Q:ID S � . U)C >. u M T . a c ...0 m - - F U m ID y a . :o o m m • rn: ID ; E o S m P cn � O d 0 -O> O V ' m ' d O o : w v 4 m - o � -.b a+ C ! m :y l a v• - s d vi m y, pyp ,m 0u T W 0 ...0,,,:] - . 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Windsor approves Bancorp offer k By JEFFREY JONES Tribune Staff Writer GG '- i .l Thus offer was attractive t WINDSOR—A Nebraska banking company has pur- t q chased the Bank of Windsor for an undisclosed amount, to uS, and our!shareholders'have '= i t bank officials said this morning. r , 4 A statement released by Bank of Windsor officials said accepted it': bank stockholders voted Thursday night to accept a pur- =Mel Ylarraz chase offer from Pinnacle Bancorp Inc.,which is based in fi Central City,Neb. 1. Bank of.Windsor board chairman i • Pinnacle also owns the First Security Bank of Windsor. Bank of Windsor board chairman Mel Ylarraz said it is d a cash offer and does not involve any stock trades. petted to take several months. The bank was chartered in 1978 and has more than$22 Tom Prenger,president of the First Security Bank,said million in assets. Pinnacle officials have not yet made decisions on the fate "In the present banking climate, we knew a healthy of the Bank of Windsor or its 14 full-time employees. bank... would receive offers.We've had four in the last "Right now...we have not made any decisions on what couple of months,"Ylarraz said in the statement."...This facilities we'll keep,"Prenger said."Hopefully in a week offer was attractive to us, and our shareholders have ac- (or) two weeks, we'll have something. I can't say what cepted it." they're going to do.There's a long road to go before we 1 Officials said regulatory approval for the sale is ex- even get to those decisions:" 1 • 930'709 Hello