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Home My WebLink About901502.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1990, WELD COUNTY, COLORADO PETITION OF: GREELEY CITY OF THE 1/2 INT & HORACE GREELEY PHASE II & PIONEER INVESTMENT 1/2 915 NW 57TH ST OKLAHOMA CITY, OK 73118 DESCRIPTION OF PROPERTY: PIN: R 6768386 PARCEL: 096105317006 - GR 46-A W2 BLK 46$710 11 AV$ WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as a Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within this County, fixed and made by the County Assessor for the year 1990, and WHEREAS, said petition has been heard before the County Assessor and due notice of adjustment thereon has been given to the taxpayer(s) , and WHEREAS, the taxpayer(s) presented a petition of appeal to the County Assessor's valuation for the year 1990, claiming grounds for relief thereunder stating the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, in lieu of the hearing scheduled before the Board of Equalization a Stipulation was agreed upon by the Assessor and said petitioner(s) , and WHEREAS, it is hereby Stipulated to by the petitioner(s) that the actual value concerning this property for the 1990 property tax shall be $1,200, 000, and WHEREAS, this actual value represents the sum of the value of the land of the property in the amount of $137 , 500, and the value of the improvements upon the property in the amount of $1, 062 ,500, and WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County Assessor and the hereinabove named petitioner(s) be, and hereby is, accepted by the Board. 901502 Page 2 RE: BOE - GREELEY CITY OF THE 1/2 INT & The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 8th day of Au ust, A.D. , 1990. ATTEST: ( I / / BOARD OF COUNTY COMMISSIONERS �9i2p �bt GvU� WEL UNTY, C RADO Weld County Clerk to the Board -, 7 iene R. Bran nerr,, Chairman L BY- - v//t-74c z 2,-, �t�-,-,-z ie; h D puty Clerk to he Board � ,„, Geo a Ken edy, Pro-Tem APPuOVED AS TO FORM: a-4,i, ons ance L. Harbert _____ --"7-0,--- J f / r t e7_, ounty Attorney C. W. Kir Gor ac �A OFFICE OF COUNTY ASSESSOR \1 915 10th STREET "� GREELEY,COLORADO 80631 NOTICE DF DENIAL G'4' _ �C PHONE(303)356-4000, EXT.4256 GR 46-A W2 8LK 461C71Or":' t11114V-V COLORADO � - 10 WI--6` 701 11 AU GREELEY OWNER GREELEY CITY OF THE 1/2 INT 6 GREELEY CITY OF THE 112 INT G PARCEL 096105417006 HORACE GREELEY PHASE II 8 PIONEER INUESTMEN PIN R 6768386 915 NW 57TH ST YEAR 1990 OKLAHOMA CITY OK 73118 LOG 00688 06/11/1990 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 by considering the cost and market approaches. Agricultural land value is determined solely by the earning or production capacity of the land,capitalized at a rate set by law. Producing mines are assessed at 25%of the gross proceeds or 100%of the net proceeds,whichever is greater. Oil and gas leaseholds and lands are assessed at 87.5% of the gross value of the oil and/or gas sold or transported from the premises on primary production;secondary production is valued at 75%. ..—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. The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest and has deter- mined the valuation(s) assigned to your property.The reasons for this determination of value are: NO CHANGE HAS BEEN MADE TO THE ACTUAL 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. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW LAND 137s500 137s500 IMPS 1,2121500 I *212s500 TOTALS $ $ 1,3501000 $ IaJ50,000 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: RICHARD W. '<EIRNES o6/14/e0 WELD COUNTY ASSESSOR DATE 29 � 15 ADDITIONAL INFORMATION ON REVERSE SIDE T-A PR-2D Form 8]/90 �L YON N NY E. THE INGOT TO APPEAL THE ASSESSOR'S DECISION ,a NE . ux. ^a i0 4 MEN 1,,gst 10 for real property 3, ' -chests maciDiript. {t, cn_a 4 104 Tirl 39-34107(2), C.R.S. 4054 n ," 3-5?t% r . :hoc r,' the County Board of t.. .x - t' .r ,, at 5." o M .k�' 43K#,-.I_ t IT 'TIERED ON OR BEFORE .t 44OP 9 = .440,4444 TROCIERCJ' 4'„ 3iE4g:, ENN.4.4 .1 Equiltr i,tn, . EE E0,04,'s � uM f3 dekhvet a cum, L t .Tompu tr ➢ Purr to the Gamily Board Of r�r. a ��,a<•: t. apr ��a� i tst .te `OtUt lTrt, 't[f E:, =.art DELIVERED ON OR BEFORE - , • . t Divvy, Soortirst 50432 -5-55.ir hip .10' 5 430C, . ,22t v to ;ptt Ch tE,riSl.°€V°te {s' .. . . `, (t ii t 1.9 -mil Hart: set, hit ,I-,;. Lev el /per appeal. , a -:4; ,r L a : fl nt :fre in 1 o a`lJw dppe ai end omit ybai iThrIaLithl UV 1:71i I? live business 22 0 Morn imis Novititir heminfir a)} }±Uitj,� 4c4 SITHiefl rho County Bonk' t>t Mina i?ation s a ision, Eon must Me within thirty days of the County s tIecisao.a tr: DNVE ,,I the .ti:tr rine. Bror 1 ctf AssessEnent Appeaks {CAM" t ii , itrEA v 5hi , r,, lion _ 523, Do Der, ColciDide 80203. 130:3} 866 5880. District Court: Avenue and 9th Street P O, Box C Greeley, 'Colorado 80632 "i r. r r rOr;e {.30.3r 356 4 0030, E:xt 4'..120 . • . - � � � h€57itraYJ Gfia7 — ,• . ,. - _ "tf15 10th SESIthiP.r ROT )58 05.3445 Co mado 80632 ice-mm-4v i303' 356 4000, Etch 4225 Coons i3o„ ; n, r t. ,, zaa -.,- :?v' ftr gi,t?O,}O!!n=ust file an appeal with PVIE vitH 43 ,,,031..60 PICT o S SOD MUST PRO V5 YOU HAVE FILED A TIMELY APPEAL, gsENo At ,`COME vPONDE�NCE €E MAILED WITH PROOF OF MAILING_ ION TO THE CC3uNry BC7ARo OF EQUALIZATION a . Asse`.:; ;' s t,tiutdl th,. AtOFF additional documents as necessary. �h1 Iijefealeil't" Altgf aGeuisa/ 5e s `tie ya,ut C"� 46 sierly (Iand and 41eOISl 66 / zoo ©DD Nbit mat � a"�sen'� ike J iaceey cat 7� 091m f er"7 b/ likkilJ CCuni %3 UIrN &lQSC 76 (/bc"-- —A 0 COmrnrrC1 I O fedieS /✓l, . X_Q(,01trd7 J`Lll ! Go1'7C I� COSrS 7th !/G9 )Ativi i �Caxt /nankej 77/1/161- �" 4/06 -- • SUMMARY OF SALIENT FACTS AND CONCLUSIONS Location: 710 11th Avenue, Greeley, Colorado Legal Description: An undivided One Half fee simple interest and all leasehold interest as created by instrument recorded August 26, 1981 in Book 945 under Reception No. 1867449, Weld County Records, in and to the West One-half (W1/2) of Block Forty-six (46), City of Greeley, County of Weld, State of Colorado. Zoning: C-4, Commercial Site Area: 50,387.25 square feet Improvements Area: Gross Floor Area: 34,092 square feet above ground 13.523 square feet in basement Total 47,615 square feet Net Rentable Area: First Floor: 9,049 square feet Second Floor: 9,700 square feet Third Floor: 3,272 square feet Basement Level: 3.913 square feet Total: 25,934 square feet Appraisal Date: October 14, 1988 Value Conclusions: 1. Value "As Is" as of Appraisal Date: Cost Approach: Land: One-Half Fee Simple Interest $ 95,000 One-Half Leasehold Interest 95,000 Improvements: $1,180,000 Total: $1,370,000 Income Approach: $1,200,000 Market Data Approach: The Market Data Approach was not accomplished because of insufficient data. Conclusion: $1,200,000 2. Value As If Completed and at Stabilized Occupancy at Date of Appraisal: $1,310,000 - 1 - Following is a summary of the Cost Approach: Reproduction Cost New 47,615 square feet x $44.68/Sq. Ft. _ $2,127,438 Less: Accrued Depreciation: Physical Deterioration: $276,567 Functional Obsolescence: 620,000 Economic Obsolescence: 100.000 Total Accrued Depreciation: (996.567) Depreciated Value of Improvements: $1,130,871 Add: Site Improvements $ 50,000 Add: Land Value: 1/2 Fee Simple Interest: $ 95,000 1/2 Leasehold Interest: 95,000 190.000 Total: $1,370,871 VALUE INDICATION BY THE COST APPROACH: $1,370,000 - 45 - 11 2 \ \ \ \ � o /) ) - » \ ) ! \ ) % \ 4. 2 E. \ \ e ; e k f \f /) 00� ) �) =) 3 / / Q / ± } ± } ± \ t a 2 2 / / 2 en 1 § a § § e 5 § k k k k k k k \ \ \ \ \ \ \ g 3 . @ / ] / \\ \ / 2 / � m ) g / # o co \ \ _ _ _in co } cid_ _ _ & a ` OC4 k vn j 7 en ± _ \ 7 & 7 $ ' g ° 8 8 \ \/ m \ \ § \ \ / CO \ \ \ \ \ \ \ \ / / (V 1-1 ` vi \ j f Q /c at j_ � F. � \/ L. = f _ _ _ ) � « ] E 8 ] ^ ® \ ] } m is / \ ) ) \ \ ) j ] ) }7 }/ \ \ rn tr. ) 2 —, _ § -, —. I.4 . . . . . . . . . . . . tii \ \/ { Mfg / % § \ } \2 } f * 7 © ; \® 41 k \// ! r } - k ] ~ / $ } k 0 - - J & (aJ 2 ) \) § 2 / / 2 / 1 q § 1 i § \ k k k k \ \ \ \ \ E # . g J \% ( ° k « ) j ] j ) i \ / \) ) + / @ >4 >44 \ \ \ \ \ \ \ D a \ \ f rn ® } 49 ) \ a { 7 , ) ) t cn J © \ j § z ) / -. / \ \ � \ \ \ \ \ k \ » - # m 2 R » - G % r ] § § A ) \ 85. \ / \ _ . J a t do ) d d / § 3 / > > 2 ± > ) } / \ \ / un ) § N m m § CV0 co N m . . . . . . . . c co b E E s c O c o E CQ C 'J o E A E a > U z col a Z Q Q Q o z z z z 1 9 9 9 9 § a a a a. S. w 3 3 3 3 3 y LSI 16 z z z z a w w O >-, w IX 8 8 in O - $ g c en .Nw n CT a ',�' be to) ;3-.4 ui ES a 5 x y _� -E = 8 0 8 8 8 z � g �s .9 vs 69 ss F» 77i w M N ti N N M n 5^ ' tn rl ti ti rl n-1 H. R y .-i Al ti o o o Soo o s 1O O O 00 O E �E c) a pp — a `o °\° 9 cco\o � 61 os � � 9 � � s 00 F , ob Cb NNb '^ cv0 = Qlb o ^ E i � E Q. E ^ a E v u v yy v L t o o , C.) cn wa 0 •9 wo a 9 a `>> a p :c w 4 Eal y 41 QC: t r- 0 CI) C 1`S A A tE a. o^ a w > V 4 e>' a 3 > > O z c > N M Al V 1-- oo pp!? ] z M 40iW W f•I. CW I W W DI Lr7 / } ) / / 2 5 ° i e § / k ( 4.1 \ \ \ C ( < — kj \ ) /) \\ ± . ® < o vs oo vs co / \ In CS tfi Di ® ® 49in& Q, -.9. In } en \ W. ± � ^ _ N N , r w \ § ) \Cr; 2. a g a q \ \ \ \ � \ \ \ e > to _ ^ ] � g oi L. % 3 5 6.o ) ] ) { k } # } ; \ ) I. ) ) / ) \ \ j ) 3 ) ) | . / / § ] [ ) o Economic Rent Estimate In order to derive an economic rental rate, a rental survey of office buildings in the same location and having similar qualities to those of the subject was accomplished. A tabulation of these office rental comparable's follows on the next page. All of the six comparables are located within two to three blocks of the subject in the central business district. Four of the buildings are newer than the subject and Rental Comparable Nos. 5 and 6 are renovated structures. None have the unique character of the subject. However, in the depressed Greeley economy, these qualities do not appear to warrant higher rental rates. The location of the subject is comparable to all the comparables since all are located in the central business district. Space available varies, but the average tenant space is similar to that of subject. The vacancy rate in the comparable buildings varies from five percent to thirty-three percent. The buildings with vacant space are showing a slow market in lease-up activity. These buildings are representative of the subject area. The rental rate quoted for each of the comparables is a gross rate with the landlord paying all expenses. Subject leases are also on a gross basis. The overall rental rate for office space in the subject is approximately $9.00 per square foot, which compares with the current listing rates of $9.00 to $10.00 per square foot of the comparable rentals. The first floor tenants of the subject property are paying higher rates than the $9.00 to $10.00 range. However, several of those tenants are negotiating new leases at perhaps lower rates, and one may not renew. According to the property manager, lower rates in neighboring buildings are attracting present tenants who, in the present economic market, are not willing to pay extra for historic uniqueness. The present rental rates are used as the base in the cash flow analysis and will be increased in years three to five, as the economy is projected to strengthen. It is unrealistic to believe these rates will increase substantially in the next year or two given present market conditions. By the end of the cash flow analysis, the office rate is approximately$11.00 per square foot. - 51 - ] ` ) / ] § \ ] ) / c eh / ) a 2 \ \\ itLi a \ ) \ ) 2 ] / 0 =2 \ ° ) \ � \ ) { es 0 L) , , a of C4 'as zo « , a 7 •7j ] ti ) \ k \ k R \ \ in ° 0 I) o a) o f / / \ \ \ \ a \ / 2 2 / 2 \ / / / In \ ) ( ( rn r \ # \ » \ / ] 2 & } Ki \ f a & k ®\ & $ $ _ u % • a ) 7 7 % } 00 en r / « ,o N. tn N - Z ' ) r § ) ] # \) A ) 2 2 ; _ @ { / k � ) \ \ \ j . § k \ \ \ 01� \\ ) \ ) \ \ \ \ \ \ _ S ) _ w r Tr r Vacancv Rate Estimate The vacancy rate for office space in the Greeley area appears to be higher than it was in the early 1980's. Vacancy varies greatly in the office comparables, but it would seem to average sixteen percent. Office Vacancy in the entire Greeley area is approximately twenty-five percent. The vacancy rate of the subject is approximately twenty-three percent. In the cash flow analysis, vacancy drops from twenty percent to ten percent in the first three years, but stabilizes in years four and five to project a stabilizing market. Operating Expense Estimate Actual operating expenses for the subject were submitted for the periods ending July, 1987 and 1988. The landlord pays for all expenses. The following are concluded to be the operating expenses on a stabilized basis for the subject building: Fixed Expenses: Taxes $50,000 Insurance 8.000 Total Fixed Expenses: $ 58,000 Operating Expenses: Utilities $36,000 Janitorial service 4,000 Building maintenance 36,000 Management 12,000 Administration 1,000 Reserves 2.000 Total Operating Expenses: $ 90.000 Total Expenses: $148,000 Management is estimated at five precent of effective gross income. - 53 - Valuation Analvsis To achieve an indication of value by the Income Approach, a discounted cash flow analysis was accomplished utilizing current income and expenses obtained from the subject and market, but recognizing the impact of changes in lease rates, vacancy and expenses over the next five years, and projecting anticipated changes in these categories. In the spaces where leases are in effect, these terms are reflected with economic rates at the lease expirations. Vacant spaces have had economic rates applied with the anticipation of increases in Years 3 and 5. Vacancy commences at twenty percent and decreases to 5% by Year 4 with projected stabilization of the market. Expenses remain constant with the exception of management, which is estimate at five percent of effective gross income. These stabilized net operating incomes will then be converted into an indication of value by utilizing the discounted cash flow analysis. The five-year projection reflects the net cash flow resulting from those anticipated changes in gross income, vacancy and expenses. The indicated net operating incomes for the five years are discounted to the present to show the present worth of the income stream. The sixth year net income is capitalized at an overall rate to develop the reversionary value in the sixth year. The reversion is discounted to the present and then added to the present worth of the income to derive a present worth of the property. A discounted cash flow analysis under stabilized conditions was also accomplished utilizing five percent vacancy in each year and income increasing at a more rapid pace in the vacant spaces. This stabilized projection reflects the loss of income present in the subject due to high vacancy and lower rental rates, and has been used to indicate the economic obsolescence in the Cost Approach. A deduction is made for the tenant finish required to complete the unfinished 3,800 square feet on floors two and three and in the basement. This is based upon $7.50 per square foot for the finish, a figure supplied by the property manager. - 54 - Discount Rate The discount rate is a reflection of the relative risk of an investment, the limitations derived from the degree of liquidity, the additional amounts necessary to account for management of the investment and the time value of money. The basic risk or yield rate is established by rates paid on risk-free, management-free alternative investments. Alternative investments and their respective yields are: Investment Rate 3-Month Treasury Bills 7.02% 5-Year U.S. Bonds 8.94% AAA Municipal Tax Exempts 7.51% AAA Corporate Bonds 10.11% Increments to the base yield rate are necessary for degrees of liquidity of a real estate investment and the need for additional management above the altemative investment. The subject property is located in an area which is currently experiencing difficult economic times. However, there are positive signs of recovery. The building is a good structure with future increased eaming potential. The longer range shows eventual strengthening of the market in the area. As a result of these factors, the discount rate is concluded at eleven percent. The overall rate for the reversionary value reflects the value of an office building at the end of the five-year period. Development funds for the subject property can be obtained between ten and eleven percent. A loan-to-value ratio of seventy-five percent is considered typical in the market for this type of development. Alternative equity funds can be invested in corporate bonds at a rate between eight and nine percent. The overall rate for the subject property is developed using the band of investment technique as follows: - 55 .75 x .1053 = .0790 .25 x .0800 = .0200 .0990 .75 x .1143 = .0857 .25 x .0900 = .0225 .1082 A ten percent overall capitalization rate was concluded. Discounted Present Worth Following are the discounted present worth analyses showing the five-year projection periods, variations in anticipated gross income, vacancy and operating expenses and value conversion utilizing a discount rate of eleven percent. - 56- 000 00 m mNe $ . MAW �gffim n�n PPe NmW�°Om once = 8408 888.988 N a P Nmr omm000. DTI o0♦♦b nom^ m--^- NOMN40 T N Y 00] ➢YLarN -• N N.0.00. 0...000. 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NOTNYO O 0 NN TNm-MM Nm dd 44'44-74 -7 m NNNO M N-T^NN- NMNNNNNM NMMN MNNNM MMNMMN M N » N M MM N M MNNM M Y p NOW N 000N0 NONN 0000000 0 000000 N00S 0 SSN 8T888§R 0 .0(1 N 00 000000 �0 P r O ap pp IIC0I 8 . OMWV0P0 •OOYONNY N00N �0MNNm OMNNYOY �OY N �M M mMM p .. N pY 4406040 ^'OOP� v** b�0^r m-rrr NOTNYO - A IIf M0 NrmrMMM MMNMMN** NMMN MMMMM MMNMMN N M M N M MM M N N NMN M N N M1 � o a NOM N pp S M1 I000.000 fIM00 1 0 0 1011 00 *0n. 00000010�IN. NOON OMNNN §ONONOZ N°• 0 OOH �OSmOH •O 0 0• •• N VNOYYYT POOPN<YY `L`llr4 m"-"" NOmNTtO m - N NM TNT^NN ° M P N.M.*** »MMMN*N* *MNN MNNNM MNNM*M M N N M M NN M M N *NM* 1 O N O 4 } Y p p 88 S 88 ryp r p� mN S ♦V.. A 00 OOHNOO N m O N M O N S n I0 m mom m ° SOY 0?f NO-NN w 9 O W ♦m p6� 6�.O ♦ NOmNNn A0M Y S0 �O f�OT-N O m N P I•70) 0 N ONO*V MM NNMMMNMN0r4 N»r•• Trrrr A �0 M m*M.** O ^ O O Y •P J N ION J M • NM MMMMM M*MNNM M M M N M MM M M M N N MNNM N N 0 0 M r N - u1� I� u yy y uuy t y{ Ul -N '1 ^ 2 0 T A '1 R 9 F R Y - 0 } J> J J > J> > >O O Y C U E y a y y t a3 TIIN�0NOOO 000000000 NSNN mOORNl1 amoo0HD P ! 8 N Y 6 y N U • LL NNmmN�S O PYYmT N•0-^ T�rrr nIPm lO• mnl N �OI �pI Y Wp� JJ4C { N N—fJr r f-- — r Np — C C x Yy CO4Ti« N U U Y > •' J : W N LL W C LCYYY6'- > r L . 3 0 0 C W • O N N n _ 0 Y 4 O op N ..9 pu p l 0 .400[ 6C F N ¢ omNOA00 ONm0�0000 -^-gTI04YNOT l ; LpL T l 6 % % N `y ' C CEN S C U 4 C L LC W 0 y 000000- l 00 OCO-^ OOOOOWOOOO NCNONOO CU' ado 4C 6 Y_4_T94 CY . 4 0 0 0 ON C U l p :SIN nIMVNLmmmmT mmTm—rmTDN'P+ 4 C CLLI-. O]"! mO d ry 3 Y 3N C o .0 0 4 0 0 0 * flume 0 4 O 8 0 4 W W W%'W W W W 1•J J J J J J N a, m t ba X L y L W 4 W J 6, > ] y W W 0. J C C. C C N ~ C LL 9 LL L L 4 N N N 7 O U N R N N3 N J Q C 9 Y L N N 0 y 0 ` L L C t et 4 UG in a ` 0 •] _ O l J W Z O 4 a L • J W I b � � - 4 a } I Z a The discounted cash flow analysis establishes a value indication of$1,201,211. The analysis at stabilized occupancy indicates a value of$1,308,798. The value concluded by this technique is $1,200,000. VALUE INDICATION BY THE INCOME APPROACH: $1,200,000 - 59 - FEDERAL aAUIN"GS-& LOAN INSURANCE CORPORATION � AS RECEIVER C4 aNTRAL REGIONAL OFFICE L," `,rn ‘FW ti +U Cam` ' ,`. 0 LETTER OF AUTH^t KO ACT IN MATTERS OF AD VALOREM TAXATION TAXPAYER (S) Federal Savings and Loan Insurance Corporation as Receiver for Silverado Banking, Savings & Loan Association formerly known as Littleton Savings and Loan, Circle Savigs and Loan, Mile High Savings and Loan, Mile High Circle Savings and Loan Association, Mile High Savings and Loan Association , Security Savings and Loan Association; additional acquired Savings and Loans as follows: 1st Summitt Savings and Loan, Otero Savings and Loan 5080 Spectrum Drive Suite 1000E Dallas, Texas 75248 We hereby appoint and authorize Savage, Savage & Brown to represent Silverado Banking, Savings & Loan Association as ad valorem tax agent. They have the right to file returns and applications, examine any records and discuss or appeal any tax assessments to the appropriate authorities relative to property owned or controlled by the FSLIC. In addition, they are authorized to do whatever is necessary to obtain statements and other correspondence pertaining to tax matters. \� `_ l /� BYE---r .. ,' . --.: Jim'Underwood TITLE: Manager RE0 Technical Services Before me t e dersigne , a Not y Public • for the County of • a the State o nrid _ , personally ppe ed (-------- ( , who acknowledged to me t this ertificate of Authority was executed for the pure es /herein expressed. Wi n m hand and oto)4 1 seal this �� day of 19 NOT IC' ,- My Commissib Expires: /0 At' q ONE SPECTRUM CENTER• 5080 SPECTRUM DRIVE,SUITE 1000E• DALLAS,TEXAS 75248• (214)701-2400 Lee* OFFICE OF BOARD OF COUNTY COMMISSIONERS PHONE (303) 356-4000, ExT 4200 P.O. Box 758 GREELEY, COLORADO 80632 'Ripe COLORADO July 19 , 1990 Pioneer Investment Horace Greeley Phase II 915 NW 57th Street Oklahoma City, OK 73118 Dear Sirs : The Weld County Board of Equalization has scheduled your hearing for Friday, July 27 , 1990 , at or about 10 :00 a.m. regarding your tax assessment for property described as Pin #6768386 , Parcel #096105317006 , Weld County, Colorado. The public hearing will be held in the Chambers of the Board, Weld County Centennial Center, First Floor, 915 10th Street, Greeley, Colorado, at the above specified time. Procedure for Hearings before the Weld County Board of Equalization will be as follows: Assessor: 1) The Assessor shall present his case first. He shall present evidence concerning the manner in which the property was assessed, both orally and in written form. (15 minutes) Taxpayer: 1) The taxpayer will present his case second. 2) Taxpayer may present all evidence, orally and/or in written form as exhibits. 3) Evidence presented will be limited to actual or assessed values of like properties or sales of like properties from January 1 , 1987 through June 30 , 1988 . Testimony concerning tax amounts and their usage by law are not applicable at this hearing. (15 minutes) ! # 117 xI' i ' .:) ra t-4, ' �� 9 ,‘. 1: O — j 1' r fl1' ...............k ••• 800 ='V C: O 15C" e};S rRLn H W H CO ri W rn — zxwx W � wo o- x W a CEOwCa r LL n4 ,J rlwx F Q _ za � U A N V Ln wuz Z. 11.Cq I-C a H 0 H x axO10 o o ra r m t; Q m m o w O 1 I t. , Pd W �/ � � �� ~ 2 ` O� z o cc 0 a W F ,-/.„„e 1 # 1.t/ $ W ""S � ZE908 00V80103 'A8133171 . 'd Page 2 RE: BOE - Pin #6768386 , Parcel #096105317006 Decision of County Board of Equalization: 1) By law, the valuation of property for taxation as determined by the Assessor is presumed to be right. The taxpayer is therefore required to present sufficient evidence to prove his case. 2) The decision of the County Board of Equalization shall be based only on the testimony produced and exhibits introduced at the hearing. 3) The decision of the County Board of Equalization shall include a statement of findings and conclusions upon all the material issues of fact and law presented and shall either affirm the Assessor' s assessment or shall amend it as stated. If you are unable to attend at the time scheduled above, please contact this office immediately. Our phone number is (303) 356-4000 , ext. 4225 . Sincerely, Donald D. Warden Weld County Clerk to the Board By: anti-:44 #) (le��J D puty County Cl rk 00 - H r H rl rn a W r- 2 EFCE 0- W >< WawO a LLd� Z a E ~ tlxm E >+ EE -- o RI 2gai UAW En >4 a 3a CO w >z m W a E i -Q o≥ U 3w ¢ DW ZH ; v m cc u� m Z >4 E U w m.� Ep LL � � O-¢ °' Ham LL T C. o° -� LL oo � C71f1 m ul d o ai m ≥ a0 a m v :c Will O v ≥ o as a,a '° W ral Ca Z • LL `a( o o -----j.-- Li U , Z, a' h' o v a E Trig a _ ,�- W Omif) al d `° 1.) E ET . E \ Er a i Ho.--I ,Yi c d '2 2 3 �°i axMO C) zo ° a ss! 51361. aunt .008E wind Sd a OFFICE OF BOARD OF COUNTY COMMISSIONERS PHONE(303) 356-4000, En. 4200 P.O. Box 758 GREELEY, COLORADO 80632 "lige COLORADO July 18 , 1990 Tim Nash Director of Finance City of Greeley 1000 10th Street Greeley, CO 80631 Dear Mr. Nash: The Weld County Board of Equalization has scheduled the hearing for City of Greeley } Int. and Horace Greeley Phase II & Pioneer Investment for Friday, July 27 , 1990, at or about 10 :00 a.m. regarding your tax assessment for property described as 701 11th Avenue, Greeley, Weld County, Colorado. The public hearing will be held in the Chambers of the Board, Weld County Centennial Center, First Floor, 915 10th Street, Greeley, Colorado, at the above specified time. Procedure for Hearings before the Weld County Board of Equalization will be as follows : Assessor: 1) The Assessor shall present his case first. He shall present evidence concerning the manner in which the property was assessed, both orally and in written form. (15 minutes) Taxpayer: 1) The taxpayer will present his case second. 2) Taxpayer may present all evidence, orally and/or in written form as exhibits. 3) Evidence presented will be limited to actual or assessed values of like properties or sales of like properties from January 1 , 1987 through June 30 , 1988 . Testimony concerning tax amounts and their usage by law are not applicable at this hearing. (15 minutes) Page 2 Re: BOE - CITY OF GREELEY Decision of County Board of Equalization: 1 By law, the valuation of property for taxation as determined by the Assessor is presumed to be right. The taxpayer is therefore required to present sufficient evidence to prove his case. 2) The decision of the County Board of Equalization shall be based only on the testimony produced and exhibits introduced at the hearing. 3) The decision of the County Board of Equalization shall include a statement o£ findings and conclusions upon all the material issues of fact and law presented and shall either affirm the Assessor' s assessment or shall amend it as stated. If you are unable to attend at the time scheduled above, please contact this office immediately. Our phone number is (303) 356-4000 , ext. 4225 . Sincerely, Donald D. Warden Weld County Clerk to the Board Deputy County Clerk C3o E • SENDER: Complete items 1 and 2 when additional services are desired, and complete items 3 and 4. Put your address in the"RETURN TO" Space on the reverse side. Failure to do this will prevent this card from being returned to you.The return receipt fee will provide you the name of the person delivered to and the date of delivery. For additional fees the following services are available. Consult postmaster for fees and check bottles)for additional servicelsl requested. 1. ❑ Show to whom delivered, date, and addressee's adlre44 2. ❑ Restricted Delivery (Extra charge) (Extra charge) 3. Article Addressed to: _ 4. Article Number Tim Nash I' Ss-t, rrg3. lfgi2 Director of Finance Type of Service: City of Greeley ❑ Registered ❑ Insured 1000 10th Street Ill Certified ❑ coo ❑ Express Mail ❑ Return Receipt Greeley, CO 80631 for Merchandise Always obtain signature of addressee or agent and DATE DELIVERED. 5. Signature — Addressee 8. Addressee's Address (ONLY if X requested and fee paid) 6. Signet e A X 7. ra of Delver /�J7 20 PS Form 3811, Apr. 1989 ♦U.S.G.P.0.1999-238-815 DOMESTIC RETURN RECEIPT -i _ Q .-- 2 al _a O Li'_, C � v. co W o'E rd 11 ip r " gE'< m p T ar o o J P o l y •ri al N oo r > ru ¢ �o a, w ri s, a o �, ww1 'm v u Si , �� 0" ¢ �?e° OBES CE O L9 .G CD VI OU v a) c v �� LL O rii rC }+ u N > 0 0 0 0 c OO -D u- SLL to 044O >i a a, o i, a. \ cN L i-) I... ( 5 N U O ,--I a) -' ao - - m of �. Ltl ti o z U '-1 a, > °' v a o o — z N T O N N o a o o L U IL E •d •4) O H o d a E tt D a s Q. W ry N C] U � U °i 7. E ° no r E ¢ U o a a'P. Qc a 9. 5861 aunt `Oust tame Sd ., a Pia OFFICE OF BOARD OF COUNTY COMMISSIONERS PHONE (303) 356-4000, EXT. 4200 P.O. Box 758 GREELEY, COLORADO 80632 C. • COLORADO July 20 , 1990 Savage, Savage & Brown 2932 N. W. 122nd Oklahoma City, OR 73120 Dear Sirs : The Weld County Board of Equalization has scheduled your hearing for Friday, July 27 , 1990 , at or about 10 : 00 a.m. regarding your tax assessment for property described as follows: The City of Greeley - } Int. (PIN #R 6768386) Horace Greeley Phase II & Pioneer Investment in Weld County, Colorado. The public hearing will be held in the Chambers of the Board, Weld County Centennial Center, First Floor, 915 10th Street, Greeley, Colorado, at the above specified time. Procedure for Hearings before the Weld County Board of Equalization will be as follows: Assessor: • 1) The Assessor shall present his case first. He shall present evidence concerning the manner in which the property was assessed, both orally and in written form. (15 minutes) Taxpayer: 1) The taxpayer will present his case second. 2) Taxpayer may present all evidence , orally and/or in written form as exhibits. 3) Evidence presented will be limited to actual or assessed values of like properties or sales of like properties from January 1 , 1987 through June 30 , 1988 . Testimony concerning tax amounts and their usage by law are not applicable at this hearing. (15 minutes) Page 2 RE: BOE - CITY OF GREELEY, ET AL. Decision of County Board o£ Equalization: 1) By law, the valuation of property for taxation as determined by the Assessor is presumed to be right. The taxpayer is therefore required to present sufficient evidence to prove his case. 2) The decision of the County Board of Equalization shall be based only on the testimony produced and exhibits introduced at the hearing. 3) The decision of the County Board of Equalization shall include a statement of findings and conclusions upon all the material issues of fact and law presented and shall either affirm the Assessor' s assessment or shall amend it as stated. If you are unable to attend at the time scheduled above, please contact this office immediately. Our phone number is (303) 356-4000, ext. 4225 . Sincerely, Donald D. Warden Weld County Clerk to the Board / 1 �Y /n7f l.�h r a J -.-2i tt/ Deputy Clerk o the Board PS Form 3800, June 1985 +u. 0 o 2i,' o E, m a m o 91 F ? Of O ro ti 9 co,3 r. or 33 a d n m Fx+ W C n• o am wm ¢ Ti W NW m � v ° >m °m o m O 0G \ _O , av 0a m 9 8 .'7i N -I in m NH F-').'" m .yJ m D 0 g o' <' m P1 C CO i a a p In O a o f o f m m n • w -m 70 D- �. al 00 Z 0„ =c ". �„ N � � avows nrm n C c * a NN on n 3 CL RI Lr n T n< m r ta u ,a _m o _o •,-Jo �; r Lo a_ N F O 6 O£' 7/,-4-7— • SENDER: Complete items 1 and 2 when additional services are desired, and complete items 3 and 4. Put your address in the"RETURN TO" Space on the reverse side. Failure to do this will prevent this card from being returned to you.The return receipt fee will provide you the name of the person delivered to and the date of delivery. For additional fees the following services are available. Consult postmaster for fees 1. O check Show to whom des)for llivered tional service(s) and addressee's address. 2. El Restricted Delivery (Extra charge) (Extra charge) 3. Article Addressed to: 4. Article Number +� SS & 912 xi4f Savage, Savage & Brown Type of Service: 2932 N. W. 122nd ❑ Registered ❑ Insured Oklahoma City, OK 73120 artified ❑ coo ❑ Express Mail ❑ Return RaceiDDt for MerchantliN Always obtain signature of addressee -- or agent and DATE DELIVERED. 5. S' tura — Addr 8. Addressee's Address (ONLY if X •/ ei.inf.Gr r-S requested and fee paid) 6. Signature Agent ✓ X 7. Date of Delivery 2,7 PS Form 3811, Apr. 1989 s.U.S.G.P.G.1989238-815 DOMESTIC RETURN RECEIPT C. � xS� w "r^i1 Vit t S 1990 BOARD OF EQUALIZATION WELD COUNTY, COLORADO ASSESSOR' S PIN NUMBER 6768386 STIPULATION (As to Tax Year /Y'70 Actual Value) IN RE PETITION OF: Name: PjpNEEe /Nyesri,EA/T AND c /75, of G�EELEy Address: /000 /o 7:.:& 411/gAildi 6REEzet Co/oescdo /TheeseAred fv -CA vac 641/A(re_ 644 Sibubti 2932. /C ita /.22Nd 0/(/914"4- ci7, ok Petitioner (s) , FieNeLe /n/dESTihE,vT and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year /19'70 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. The Petitioner (s) and the Assessor agree and stipulate as follows: 1. The roperty subject to this Stipulation is described as : c¢ °Pee addifti ^deocATed ,a7" 7/O //liri4aeivae - G/Feed Co/ e sr o i co Y- -617— - ' 6Ree . • 2 . �he subject property is classified as Carinneec/al G9 1/4.e property (what type) . 3 . The County Assessor originally assigned the following actual value on the subject property for tax year /770 • e� Land $ /37, 500 Improvements $ / 2/1)-57:90 Total $ //� 3-Co/000 `g 4. After further review and negotiation, the Petitioner (s) and Weld County Assessor agree to the following tax year /990 actual value for the subject property: co Land $ 1.37500 Improvements $ /d 62 .SDD o Total $ i/ia00� 000 5 . The valuations, as established above, shall be binding only with respect to tax year /710 • 6 . Brief narrative as to why the reduction was made: The igyeA,P st eD Ae d •4N 0,•4.I /J9440.94-de. b.vr c/ 047" y iwhit.% A4S de -a/r6/e. 44vd claccumen ed ..ndea nG oco-rte ?AreAo,RAiSAL 12etiod %N qucsT.p.v.2 sac! use cueNrzui l i4AoRA/S oa 4 d:aat sAn(nu I?4 Meat i rn/977aV. 7 . Both parties agree that the hearing scheduled before the Board of Equalization on IThly 30� /990 (date) at �:60 pm (time) be vacated; or, a hearing has not yet been scheduled before the Board of Equalization (check if appropriate) . rAL DATED this 27 day of J idy , 1990 . Atte___ Petitioner (s) Attorney Petitioner (s) or Attorney Address: Address : � l,fig �gil Swale, e,,1 frAb n rick )47/ 0!c 731623 Telephone: (0107,2-27/7 Telephone: /J Cou ty Asses or Address: 915 Tenth Street Greeley, Colorado 80631 Telephone: 356-4000 , ext. 4256 Hello