HomeMy WebLinkAbout930627.tiff 15-DPT FORM PRESCRIBED BY THE PROPERTY TAX ADMINISTRATOR
FORM 920 1/56-6/90 PETITION FOR ABATEMENT OR REFUND OF TAXES-c. F HOECKEL CO.. DENVER 36312
Petitioners: Use this side only. 1 I �/y�
cle� , Colorado, °� P i 1 1 J , 19 93
Ci y or Town /��i� ���
To The Honorable Board of County Commissioners of 1 County
Gentlemen: ,1 (`/ /7 ;�1j . d �
The petition of ! 1 V� 9 J17 14 : 1 I map ( 34 .DS L1�14PUS Coo l5
g f lukG ( eieL�.n.l.�ers( y C�er cr 6ee/ t( CGlo eAqw ose mailin address is:,..., CJ
City or Town State Zip Code
SCHEDULE NUMBER DESCRIPTION OF PROPERTY AS LISTEDTONN TAX ROLL
6a
(piN t34S'l1S62 LH' D--Fr u ec5 O-c-
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respectfullyr ests that the taxes assessed against the above property for the years A. D.
19. � ., 19..no., are erroneous, illegal, or due to error in valuation for the following reasons:
(Completely describe the circumstances surrounding the incorrect value or tax.)
r
DJ
19.1((�� 19...q.
Value Tax Valu Tax
Orig. O5.)7 virl ) 152-1 9—)J.7
Abate. Sicf3e,9h.q242r)0( �Jy �, -2 C)
Hal. V C
/
The taxes (have) have not 2been paid. Wherefore your petitioner pra that the taxes may
be abated or refunded in e sum of $...J. J..t:-5?7,........
I declare, under penalty of perjury in the second degree that this petition, together with any
accompanying exhibits or statements, has been examined by me and to the best of my knowledge,
information and belief is true, correct and complete.
-- -
Petitio
•
BaelielLii) St/ .._ . ..de
04,,,QA, - ;e_teZ6 l
8
• Address /9/v i/7°i4f..� / -( ?/
93O627
RESOLUTION OF COUNTY COMMISSIONERS
WHEREAS, The County Commissioners of Weld. County, cti f q to
State of Colorado, at a duly and lawfully called regular meeting held on the 7th day
of July , A.D. 19 93 , at which meeting there were present the following
members Chairman Constance L. Harbert, and Commissioners Barbara Kirkmeyer= Dale
Hall, George Baxter, and W. H. Webster
notice of such meeting and an opportunity to be present having been given to the taxpayer and
the Assessor of said County and said Assessor.....Warren..Lasell and taxpayer
Amy Almquist being present; and (name)
(name)
WHEREAS, The said County Commissioners have carefully considered the within applica-
tion, and are fully advised in relation thereto,
NOW BE IT RESOLVED, That the Board.does not concur with the recommendation of
(concurs or does not concur)
the assessor s the petition be denied and an abatement/refund be allowed
(approved or denied) (be allowed or not be allowed)
us t ad' ed lb,600 for 432 56totalfor hs .on an/assessed valuation of$ $ tax the ear(s)) 19. 92
Chairman of Board of County Commissioners.
STATE OF COLORADO, ))
Weld rss.
County of 1)
I Donald D. Warden , (7 el'ef#XciiYcKlEh altUClerk
of the Board of County Commissioners in and for the County of Weld
State of Colorado, do hereby certify that the above and foregoing order is truly copied from the
records of the proceedings of the Board of County Commissioners for said Weld
County, now in my office.
IN WITNESS WHEREOF, I have hereunto set , y hand an affix the seal of said County,
at G)eel,ey.,..Co1.4.radp , this 7th •ay ofl ,{ lx. /� , A. D. 19..93....
// .Q.,Clerk.
By....l..�'A. txa ,/ 1 a....c.r./.. .. -
, _ :� eputy.
ACTION OF THE PROPERTY TAX ADMINISTRATOR
Denver, Colorado, , 19
The action of the Board of County Commissioners, relative to the within petition, is hereby
❑ approved; ❑ approved in part $ E denied for the following reason(s)
ATTEST:
Secretary. Property Tax Administrator.
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G Est of McCowen Hall 24 hours a day
,e Student Decal's valid in lots A,B,I,J,L,M.R.S,T,LL V.
X,
UNIVERSITY OF NORTHERN H West of Harrison Hall 24 hours a day Y and In further nonrestricted spaces.
COLORADO i Southeast of McCowen Halt Bam-5 pm M-F The Cycle Decal is required on all motorcycles and mopeds used
J South of Turner,Lawrenson, by members of the University Community.These decals are valid
• McCowen&Harrison Hats 8 am-5 pm M-F only in the designated areas provided for such vehicles.
PARKING REGULATIONS KW Northwest of Kepner Hall Bam-5 pm M-F The Housing Decal is available to faculty,sta and students who
KE Northeast of Kepner Hall 8 am-5 pm M-F are living in Family Apartments on campus and have purchased a
L West of Candelaria Hall 8 am-5 pm M-F current University of Northern Colorado decal at the regular price.• M West of Butler-Hancock and Residents will only park in the regular decal areas within the lot.
PARKING SERVICES Mlchener Library 8 am-5 pm M-F The Service Decal is issued to service vehicles operated b
y
N North Family Apartments 24 hours a day persons providing services to the University of Northern Colorado
24 hours a day upon approval by the Parking Services Department.It is valid in all
351-1971 P South sororities r Apartments and fraternities
regular decal spaces,service drives and spaces,loading areas,
R BehindolthAvenue and fraternities 24 hours a day and the UC meters for two hours only.
• h Northeast odero The Emeritus Decal is issued to all retired faculty and staff membe.s
SECTION 1-TITLE,AUTHORITY,PURPOSE,AND S 17th corner 10th Avenue 24 hours a day of the University of Northern Colorado.It is valid in all decal lots and
ENFORCEMENT and n Street& metered spaces.
Article 1-Title T Between 1 1 hth t thth Streets, 24 hours a day The Volunteer Permit is issued at the discretion of the Director of
Paragraph/-These tier ityons shall be known o the Vehicle and 10th&11th Avenues
Regulations lorad for the University of Northern Colorado at Greeley, U South etbetw Hall 8 am-5 pm M-F Parking m Serviceserat to individuals si who are not students,faculty or
Colorado. V 19th Street between 9th and staff members at the University of Northern Colorado,and who
10th Avenues 24 hours a day provide volunteer services throughout-the academic year.It is
Article 2 h 1-The
8 am-5 M-F valid in all decal lots and metered spaces.
Paragraph authority 7-The f the
latlo Board d of Trustees s herein are established Colorado
X of areas University Call pm The Board of Trustees Decal is valid in all decal lots,metered
under the of th -5-of granted, -5-in the Color to Y Dirt er Li r Candelaria, spaces,and any other restricted areas except for fire lanes and n1
Revised Statutes dmake Sectioneul Lions for
the well
r er ng a 9 government seq.to MiButler-Hancock chener L ovary and
establish and regulations for well ordering and andwest
a am-5 pm M-F parking zones. issued re the bons r of for the Colorado and to promulgate rules and Z South and west of Gray Hall 8 am-5 pm M-F Tspaceshdesignat d aslwheelcha wheelchair Theyy ere for use in valid in
regulations driveways,providing
for the operations and parking of ty under upon sany further unrestricted parking space.Any other person desiring
grounds,the Board. or roadways within the property under the SECTION 2-COVERAGE AND DIVISIBILITY to use wheelchair parking spaces must have wrinen permission
control 3 the Board. Article 1-Coverage,General to Article 3-Purpose paragraph 1-The regulations contained herein shall applyperty Disabled Student Services.The and/or thee of issued
Paragraph 1-The re and
thof,
g
violations ls.
psame, ain monetary use charges unto are for the or the rated by t n Colorado le,(includingvehiclesd , ned Pare ra h 2-Faculty/Staffs decals will be issuedlar for permanent u
means f r emovement
providing and and ar maintaining a safe and l uncongonth or operated corporation,the rUnited States,rpolitical and stsubcounty,i f a,and 9 p pre 9
campu for the movement at N rtherng of vehicular Traffic on the public ca otherwi er any other tes regulations.
of any state), long-term am disabilitiesthe vehicle
upon ationn and the Parking Services
campus of the Effective
of Northern Colorado, except 2 otherwise cy Vehicles,
in these eptionions. Depdisability t the University of Northernthe Center or
Article -Thes ete Parole2-EmergencygecY vehicles
property ryby
Paragraph 1-These regulations are effective for the University of Paragraph 1-All emergency vehicles operating on the e f the Officepe Disabled Student Services.Perm lots
an
ty
Northern Colorado from,and after,August 15,1992. the University of Northern Colorado will abide by the provisions of (handicapped)decals will be valid in all decal parking lots and
Article 5-Enforcement the Colorado Motor Vehicle Code regulating the operations of zones,
es,su subject tous restrictions
decals are issued within
the
h lot.the Director of
Paragraph 1-It shall be the duty and responsibility of all officers emergency vehicles within the State. ParParking Servh ices Emergency to ency de a s the e i isued b Community who
of the Parking Services Department,and all officers of the Article 3-Visitors situations at the Universityitywho
of
University Police of Nonhern Colorado,unless otherwise provided Paragraph 1-Visitors should park in the metered areas and pay would be responding to emergency si use io in metered ns spaces,
herein,to enforce these regulations. the meter fee or purchase a daily permit available from the Nort hern Colorado.
do service a se decals
are
e valid
with no time
imit
Paragraph 2-The Department of Parking Services can suspend dispenser machines in student parking lots and at the Parking loading reainons es when displayed with h a spaces decal,7 m to 3 pm
enforcement of restricted parking spaces when special events Services Office.
require such suspensions.This includes all parking metered areas. Paragraph 2-All violations against visitors will be enforced. Monday through Friday.Paragraph 3-No employee of any other University of Northern Paragraph 3-Some Class Three and Four violations against Paragraph 4-Faculty,staff students
purchase decals at
fall se may semester.
Colorado Department can authorize persons to park or drive in visitors may be cancelled,at the discretion of the Director of the end of spring semester
emes eron the following
violation of these regulations without prior written permission of the Parking Services,if the driver cited responds to the Parking Article 5-Special Permits
Director of the Parking Services Department.In case of emergencies, Services Department,in person,within 72 hours from the date of Paragraph 1-Semester Permits may be purchased by faculty,
the University Police Department and fire departments can authorize the violation itself,and provides a valid driver's license.No ticket staff
and tudet students.
The T fromr m it is i valid for one semester only in
persons to park in violation of these regulations. will be voided over the telephone. areas
Paragraph 4-All parking lots and zones,will be enforced as Paragraph 4-ALL VISITORS TO THE UNIVERSITY OF Paragraph 2-Night School Permits are available at no cost to
designated by the posted sign(s)at the entrance to the lot,and by NORTHERN COLORADO SHOULD BE AWARE THAT THE students registered tor night classes.The permit one is valid after 3 pm it
these regulations. CAMPUS SPEED LIMIT IS 15 MILES PER HOUR. all regular decal
spaces
Center on campus
for by the Health
only.
• Paragraph 5-All restricted areas,within any parking lot or zone Article 4-Service Vehicles Paragraph will be enforced on a 24 hour basis.These areas include,but are paragraph 7-Any service vehicle displaying the proper permit, Center to students having an appointment at the Health Center.11
not necessarily limited to fire lanes,no parking zones,wheelchair including all University of Northern Colorado service vehicles,may is valid for 2 hours in V-Lot only in regular decal spaces,meters,
loading drives,signed timed areas, park in the"Service Vehicles Only"spaces on campus with no or designated Clinic parking.
parking spaces, g zones,service may also park in metered areas with a Paragraph 4-Medical Permits will be issued without charge to
and gr ph 6-s All
parking
lots and zones
ill be or forcmared du. 2-hour
on time.They supporting off pus professional medical personnel providing
Paragraph k-Alt parking zmest will be enforced during V-h iclspaces
restriction,limited to the north f St only.State ehrvice services o students at the Health Center as designated by the
"Finale Week" the end of each semester. Vehicle spaces shall remain reserved far Stale-owned vehicles at Drector or Health Services.They are valid in the medical Strom-11
Artrale 6-Definitions1-Th d phrases shell have the Paragraph 2-All non University vehicles must have a permit,°r spaces,clinic spaces,regular decal epaLes,and meters in V-i�.
meanings
s-Ted exceptfollowing woes and y indicates decal by the Parking Services De nmenl. Paragraph 5-Car Pool Permits are available to members of the
gs ascribed except where the context clean dlcates a Pa The
different meaning. Article 5-Divisibility University Community for carpooling purposes only. y are
(1)Barricades means any restrictive device be it rope,wood, Paragraph 1-Should any Section,Article or Paragraph of these available at regular decal tees.
metal,paper,etc.,that the University of Northern Colorado places regulations be declared unconstitutional or void by any court ofin a paragraph 6-Temporary Service Permits may be issued tot sort
roadway,service drive or parking lot,to control Traffic and/or competent jurisdiction,the remainder of these regulations shall periods of time to service vehicles operated by persons providing
parking. remain in effect.Under such circumstances,the President or his(2)Emergency vehicle means any police vehicle, services to the University of Northern Colorado upon approval by
ire department duly delegated agent,shall have the authority to establish a new the Parking Services Department.
vehicle,ambulance,or other vehicle authorize by permit by the Section,Article or Paragraph for that which has been declared Paragraph 7-Temporary Health Permits are Issued for a
Department of Parking Services. void or unconstitutional,without prior submission to the Board of maximum of one semester for short-term disabilities that are
(3)Faculty/Staff Member shall include all persons who are Trustees,in order to give full force and effect to the intent and
employed and/or using office facil certified by the University of Northern Colorado Health Center or
ties at the University of Northern purpose of these regulations.Any new Section,Article or Paragraph the Office of the Disabled Student Services.These permits will b•.
Colorado,or leased by the University of Northern Colorado. shall be submitted to the Board of Trustees for ratification as soon issued at no charge if the injured person has a current University
(4)Impoundment means towing,storage,and/or booting of any thereafter as is practicable. of Northern Colorado decal affixed to the vehicle.
vehicle. Article 6-Posting of Regulatory and Parking Signs Paragraph 8-Loading Permits will be issued to faculty/stall
(5)Motorcycle or moped means every motorized vehicle Paragraph 1-It shall be the sole responsibility of the Parking members of the University community who have purchased a
designed to travel on not more than three wheels in contact with Services Department to provide and post all regulatory and parking current decal and who have submitted a wrinen request signed In
the ground. signs at the University of Northern Colorado in the areas subject to their Department Head or their designee.These permits are only
(6)Parking decal means a University of Northern Colorado control of the Parking Services Department. valid with a current decal for time period not to exceed 30 minute:
issued decal that is valid for the current academic year,and will be In service vehicle spaces and loading zones only.All service and
made clearly visible when placed on the inside of the windshield, SECTION 3-DECALS,SPECIAL PERMITS,TEMPORARY loading areas are enforced 24 hours a day,7 days a week.
lower right corner,passenger's side,or by means of a hangtag on PERMITS.AND METERED SPACES Paragraph 9-Temporary Permits are sold by the Parking Services
the rearview mirror. Article 1-General(7)Parking permit means a temporary University of Northern Department.Temporary permits are available at$7.00 per day or
Paragraph 1-Any vehicle operated by faculty,staff,sldent or other $5.00 per week.These permits are not valid in metered spaces or
Colorado issued permit that is valid for the current academic year, member of the University community must display a parking permit ors other further restricted areas within a lot.When an individual with a
emester,month,week,or day,and will be made clearly visible decal to park in any restricted lot,zone or space on campus.No decal decal must drive a second vehicle(because of mechanical failure
when placed en the dashboard,on the driver's side of the vehicle. or permit shall be valid in metered parking spaces unless specifically only),a temporary permit will be issued at no charge.A temporary
(8)Regulatory sign means all traffic control devices,signs, authodzd by University Parking Services. permit will not be issued because of inclement weather.A second
signals,and markings,placed or erected for the purpose of Artl°le 2-Eligibility decal or a daily permit must be purchased.
regulating,warning or guiding traffic and parking. Paragraph 1-All faculty,staff,students or other members of the paragraph 70-Special Permits are issued at the discretion of the
(9)School year means August 15 through August 15 of the University community demonstrating a need for parking privileges Director of Parking Services depending on the type of need.Tin.following year. are eligible to apply for a parking permit or decal at the Parking limits are determined by the Director of Parking Services.
(10)Service vehicle means any vehicle with a firm or company Services office. Paragraph 11-Visitor Permits are Issued by the Parking Office
name,or a government license plate,being used to provide Paragraph 2-No eligible person shall register a vehicle or receiveservice, free of charge to bonafide visitors for a time period not to exceed
modifies or maintenance requested the University a parking decal,or permit,for a vehicle which is not his own or that one week.The permits may also be given free of charge to
of Northern Colorado,or any other vehicle so designated by of en immediate member of his family.Immediate family includes departments on campus to distribute as needed.Departments
permit,or decal,by the Parking Services Department. any relative domiciled at the applicant's residence. may also purchase visitor permits for users who are paid by the
(11)Student shall include all persons doing undergraduate or Paragraph 3-All decals and permits are valid only on the vehicle
graduate work at the University of Northern Colorado. University or who are paying registration fees for a class,seminar,
This includes for which they were issued,for the person to whom they were workshop,etc.
all persons residing on or off campus,in extension programs,or issued,and for the original purpose for which they were issued. Paragraph 12-The Student Family Apartment(SFA)Visitor
doing pan-time work as well. Article 3-Meters Permit s required on all vehicles in designated SFAvisitor spare.
(12)Vehicle means every mechan cal device or animal upon, Paragraph 1-All members of the University and non-University in, after 10.00 PM The permits are issued by the Parking Services
or by which any person or property is,or may be,transposed orcommunity are eligible to park in the metered spaces upon Office/SFA Manager free of charge to bonafde visitors for a time drawn. payment of the meter fee. period not to exceed one week per semester.Visitor permits ma
(13)Visitor means every person who is not a student,faculty or paragraph 2-Parking meters shall be operational on all school be purchased by those staying longer than one week.
staff member at the University of Northern Colorado,or who does not days regardless of national,state or local holidays,excepting as Paragraph 13-Lab School Parent Permit is issued to Lab Spent,
ii
work out of campus facilities,have an office on campus,or is provided in 1-5-2.All meters will be enforced during the hours parents for their use while visiting the Lab School.The first
otherwise not a member of the University community.Any vehicle designated by the posted sign(s)at the entrance to the lot. is issued free of charge.However,if a second permit is needed it
registered to an immediate family member of a University community paragraph 3-Meters will be presumed to be functioning properly. may be purchased at a cost of$5.00 per decal.The permit is valid
member cannot quality for visitor status without a written permit from Unless a meter is reported malfunctioning immediately all tickets in B,C,D,and E lots For 1 hour in regular decal spaces only-
the Parking Services Department. be considered valid.All meters reportd to be malfunctioning will Paragraph 14-Daily Dispenser Permit may be purchased at a
Article 7-Lot Information be examined by Parking Services.Meters found to be functioning dispenser box in most student lots fora cost of$1.00 a day.The
Lot Lot Location Enforced normally will result in the ticket remaining valid. same permit is valid in all student lots on campus for the day of
AN North of University Center yam-5 pm M-F Article 4-Decals purchase only.
AS South of University Center 8 em-5 pm M-F Paragraph 1-The Faculty/Staff-K Decal is valid in any lot on Article 6-Display of Decals and Permits nail be
B West of Bishop-Lehr Hall 8 am-3 pm M-F campus and any further non-restricted space. Paragraph 1-Special permits and temporary permits s
C East of Bishop-Lehr Hall 8 am-3 pm M-F The Faculty/Staff Decal is valid in any lot on campus except K lots placed on the dashboard,driver's side,and shall be visible from
D Northwest of McKee Hall 8 am-5 pm M-F and any further non-restricted space. the outside of the vehicle.It will be the responsibility of the
E Northeast of McKee Hall 8 em-5 pm M-F The Student-K Decal'is valid in lots A,B,I,J,K-EAST,L,M,R,S. purchaser of hang tag permits to hang them horn the rearview
F East and south of Ross Hall Ram-5 pm M-F T,U,V,X,Y and in further non-restricted spaces. mirror with the permit facing outward towards the front of the
•
vehicle.A hang tag permit will not be valid when placed r Paragraph 13-Driving a motorized vehicle the wrong, ,upon a c.Imposing of a fine.All fines shall be paid to the Parking
motorcycle.Violations issued with indication by the issuing,odicer roadway restricted to one way traffic,as designated by official Services Department.Any fine appearing on a University billing
that no permit was present will be prima facie evidence that no traffic control devices. will be paid at the University Accounting Office in Carter Hall.
permit was present and the ticket will be considered valid. Paragraph 14-Driving 10 to 19 MPH over the posted speed limit. Article 2-Penalties
Paragraph 2-Parking decals on automobiles shall be affixed to Article 3-Class Two Violations,$15.00 Fine Paragraph 1-The penalty for a Class One violation is a$25.00
the inside of the windshield,lower right corner,passenger's side, Paragraph 1-Failing to heed lawful directions of a University One and the possibility that the vehicle will be impounded.
unless otherwise authorized by the Department of Parking Police Officer or a Parking Services Officer.Violators may also be Paragraph 2-The penalty fora Class Two violation is a$15.00
Services.If placed in an area other than in the lower right corner of subject to criminal penalty. fine and the possibility that the vehicle will be impounded.
the passenger's side of the windshield,the University of Northern Paragraph 2-Stopping,standing or parking in such a manner Paragraph 3-The penalty fora Class Three violation is a$10.00
Colorado is not liable for any liability incurred because of obstruction that a vehicle obstructs pedestrian and vehicular traffic. fine and the possibility that the vehicle will be impounded.
of vision.See Colorado Motor Vehicle Code 42-4-224. Paragraph 3-Parking a motorized vehicle on the lawn,curb, Paragraph 4-The penalty for a Class Four violation is a$8.00
Paragraph 3-Decals issued to motorcycles/mopeds will be shoulder,lot divider,sidewalk,or bike path. fine and the possibility that the vehicle will be impounded.
permanently affixed to the handlebars,rear fender or windshield Paragraph 4-Driving a motorized vehicle on the lawn,curb, Paragraph 5-A courtesy reminder will be sent,and can be done
so that the decal is clearly visible.Hang tag permits are not valid shoulder,lot divider,sidewalk,or bike path. immediately,to the person to be billed after a parking nerve is
when placed on motorcycles. Paragraph 5-Parking in a no parking zone. issued.
Paragraph 4-Failure to display the decal,or permit,properly will Paragraph 6-Parking in violation of any regulatory sign. Paragraph 6-The person receiving the reminder notice has ten
result in the vehicle being issued a parking notice.Any notice issued Paragraph 7-Abandoning and/or storing a vehicle on campus (10)calendar days from the date of the notice to pay the fine,file
which indicates that the decal,or permit,was not visible,is valid,and without permission from the Department of Parking Services.Any for a hearing,or report any errors in determining the driver of the
must be paid,ore hearing applied for within the prescribed 0me. vehicle without valid license plates and/ore current permit will be vehicle.
considered an abandoned vehicle,and is subject to impoundment. Paragraph 7-If no action is taken in the ten(10)calendar day
SECTION 4-PARKING FEES Paragraph 8-Parking in a service drive or service vehicle space. period,a billing fee of$5.00 PER NOTICE WILL BE ADDED AND
Article 1-Parking Decals Paragraph 9-Failure to yield the right-of-way to any vehicle in the the total amount due billed through normal Parking Services
Paragraph 1-All sales of decals will be handled at the intersection or approaching on another roadway. procedures.
Department of Parking Services. Paragraph 10-Unsafe backing.The driver of a vehicle shall not Paragraph 8-Fines will be paid and hearings applied for at the
Paragraph 2-DECALS,OR PERMITS,DO NOT GUARANTEE A back the same unless such movement can be made with safety Parking Services Office,in person.
PARKING SPACE. and without interfering with other traffic. Article 3-Indebtedness
Paragraph 3-An eligible person must pay his decal fee,present Paragraph 11-Driving 1 to 9 MPH over the posted speed limit. Paragraph 1-In addition to any other provisions of these
his vehicle registration,proof of address,and fill out a University of Artiste 4-Class Three Violations,$10.00 Fine regulations,any violator who incurs any monetary indebtedness to
Northern Colorado vehicle registration card before the appropriate Paragraph 1-Obstructing crosswalks. the University of Northern Colorado will have that indebtedness
decal will be issued.Any exceptions must be approved by the Paragraph 2-Sleeping,camping and/or living in a vehicle parked treated as any other bill due and owing to the University.Students
Director of Parking Services. on campus after midnight without written permission from the will be billed for delinquent fines and billing fees by the Accounting
Paragraph 4-All decal fees are set annually.Decals will be valid Department of Parking Services. Office.Students must clear their accounts before they are permitted
from August 15 through August 15 of the following year. Paragraph 3-Parking in a restricted space or lot without displaying to register for the next semester.or in the case of graduating
Paragraph 5-Arrangements may be made through the Parking the current University of Northern Colorado decal or permit required. students.before they receive their diploma or copies of their
Services Department to have seven(7)equal payments deducted Paragraph 4-Overtime parking in violation of posted or permit transcripts.Faculty/staff members will be billed for delinquent fines
from faculty/staff paychecks for decals.These seven(7)payments limits.A second ticket can be issued after two(2)hours of the first and billing fees by the Parking Services Office and can expect to
would begin on October 31 and end on the following April 30. ticket. have any unpaid amounts withheld from their paychecks.Unpaid
Decal deductions are only available prior to the fall semester for Paragraph 5-Failing to park wholly within the boundaries of a parking charges and billing fees incurred by others may be tamed
the following year.You must have your registration cards turned parking space.Other improperly parked vehicles do not constitute over to the State Collection Agency following normal Parking
into the Parking Services Department no later than October t to en excuse for improper parking. Services billing procedures.
be eligible for payroll deductions. Paragraph 6-Failing to park within twelve(12)inches of the curb
Paragraph 6-If the faculty member,staff member,or student where parallel parking is required. SECTION 7-HEARINGS
owns or operates more than one vehicle and requests a hang tag Paragraph 7-Failing to park the vehicle with the front end facing Article 1-General Provisions
permit,one will be issued at no additional charge.This will allow the same direction as the traffic flow. Paragraph 1-Any person desiring to contest a ticket may request
the owner/operator to transfer the decal to each registered vehicle Paragraph 8-Failing to park the vehicle with the front of the a hearing.The hearing must be made by a written request
s needed.The owner/operator of two vehicles may purchase an vehicle headed into the stall. submitted to the Parking Services Office in person within ten(10)
additional decal at full price.If there is more than one member of Paragraph 9-Double parking. calendar days after the date of the reminder notice.All matters
the same family working and/or attending the University of Paragraph 10-Failing to display a current University of Northern relating to a parking notice may be disputed.with the exception of
Northern Colorado,he/she must purchase the additional decal or Colorado permit or decal properly. the amount of the fine(s).The Parking Services Office will provide
decals at the original full price.This includes any member of the Paragraph 11-Motorcycles and mopeds not parking in a hearing request forms and will schedule hearings at the convenience
family who is attending the University Laboratory School that is of designated motorcycle parking area. of the Hearing Officer.
driving age. Paragraph 12-Chaining or parking bicycles in a manner that Paragraph 2-Subject to the provisions of 7-1-3,any person who
Paragraph 7-No vehicle can display more than one decal/permit for obstructs vehicular/pedestrian traffic or damages property. fails to request a hearing within the prescribed time waives his
the same year at any one time unless otherwise authorized by the Paragraph 13-Removing parking notices from other than one's right to a hearing and subjects himself to the monetary fine and
Parking Services Department.We advise removing all old decals. own vehicle and/or circumventing parking regulations by placing penalties.
Article 2-Obligations,Ownership,Refunds and Guarantees invalid parking notices one vehicle. Paragraph 3-If a hearing request is made after the time period
' Paragraph 1-All decals and permits remain the property of the Article 5-Class Four Violations,$8.00 Fine prescribed in 7-1-1,a hearing may be granted by the Director of
University of Northern Colorado at all times and may be revoked if the Paragraph 1-Overtime parking in metered space.A second Parking Services only after the person requesting the hearing
Parking Director determines the permit to be invalid or the person to ticket can be issued after two(2)hours of the first ticket. signs an affidavit stating that he did not receive actual notice of
be ineligible for the parking pnaleges of the decal or permit. Article 6-Impoundment either the parking notice or the courtesy reminder.
Paragraph 2-Upon sale of a motor vehicle or other change in Paragraph 1-All lowing,booting and/or impoundment will be Paragraph 4-The Hearing Officer will be scheduled,at his
eligibility for motor vehicle privileges under these regulations.a done under the supervision of the University Police Department.A convenience, a regular basis by the Parking Services Office.
'
decal or permit which is no longer authorized for a person or $6.00 boot fee will be assessed each time a vehicle is immobilized. Any person who requests a hearing will be afforded the option to
vehicle must be immediately removed from the vehicle and Paragraph 2-Parking ina fire lane,by a building exit door, present evidence and witnesses.When a person requesting a v
returned to the Parking Services Department. obstructing traffic,and/or parking in violation of these regulations hearing does not desire to be present,or cannot be present at the
Paragraph 3-A replacement decal for one removed from a that creates a safety hazard or emergency situation will hearing,his case will be heard on the basis of his written
vehicle sold under 4-2-2 and returned to the Parking Services immediately subject a vehicle 10 all fines,towing,impoundment statement only.
Department will be provided for a$2.00 replacement fee as long and the imposition of the resulting towing and storage charges. Paragraph 5-Witnesses,friends,spouses.children,and other
as decals are available. Paragraph 3-The abandonment of a vehicle on the University of family members shall remain in the waiting area until the Hearing
Paragraph 4-All decals purchased at the beginning of any Northern Colorado properly or the failure to respond either by a Officer deems it necessary to see,and talk,to them.
semester will have full reimbursement within 30 days of the hearing or by payment to any parking/reminder notices during the Paragraph 6-The Parking Services Office shall administer the
beginning of the semester in which it was purchased upon proof of University's scheduled semester class sessions constitutes hearing program and may have a member of the Parking Services
withdrawal from classes. grounds for the towing,booting,and/or impoundment of a vehicle, Department serve in a representative capacity.The Parking
Paragraph 5-A parking decal or special permit may not be the imposition of the resulting towing and storage charges,boot Services Department will provide notice to petitioners of the date,
issued to any person who has an unpaid obligation which is due fee,and the payment of outstanding fines.(5-5-4) time and location of hearings and will provide the petitioner with a
and owing to the University which was the result of a violation of Paragraph 4-Before towing and/or booting a vehicle under the disposition notice of the findings of the Hearing Officer.
the University Vehicle Regulations. provisions of 5-5-3,a certified letter will be sent to the registered Paragraph 7-A$5.00 per notice hearing cost fee will be assessed
owner advising him of the proposed impoundment and his right to to all parking notices which are upheld in the hearing process.
SECTION 5-TRAFFIC VIOLATIONS a hearing.If payment of fines,application fora hearing.or when Paragraph 8-The amount of the fine on each parking notice
Article 1-Traffic Violations,General appropriate,removal of the abandoned vehicle is not made within upheld and due,as a result of a hearing.and the hearing cost fee, >
Paragraph 1-The violations of the regulations as set forth herein fifteen(15)calendar days from the date of the letter,the vehicle should be paid at the Parking Services Office within ten(10)
are categorized according to the seriousness of the offense.A will be on a tow/boot list and impounded if found on campus—the calendar days of the date of the disposition notice.Any fines due
Class One offense is the most serious and a Class Four offense the assumption being that a member of the University is driving it. and unpaid after ten(10)days from the date of the disposition
least serious.A parking violation will be charged against the Paragraph 5-The University pertorms routine maintenance work notice will be increased bye$5.00 PER PARKING NOTICE
registered owner of a vehicle,the actual violator or the person on campus parking lots between semesters.Therefore,any vehicle BILLING FEE AND billed through regular University of Northern
presumed to be responsible for the violation.When a vehicle is not displaying a current University of Northern Colorado decal,and Colorado Parking Services channels.
unattended,the rebuttable presumption is that a faculty member, parked on campus on a 24-hour basis during the University's Paragraph 9-The Hearing Officer's decision is final.
staff member or student is responsible for the parking violation on scheduled breaks between semesters,will be considered Article 2-Hearing Officer
campus of any vehicle registered toa person whose address is the abandoned and subject to a University Police Department 72 hour Paragraph 1-The Hearing Officer may be a member of the
same as the local,or home address of the faculty,staff or student. impoundment.(5-5-7) University Community or of the community at large.
Paragraph 2-When a vehicle is mechanically or physically Paragraph 6-Any vehicle,including those with a current University Paragraph 2-The Hearing Officer will be approved by the Vice
inoperative,the driver and/or registered owner must contact the of Northern Colorado decal or permit,deemed inoperable will be President of Administrative Services.
Parking Services Department,and/or the University Police subject to a University Police Department 72 hour impoundment. Paragraph 3-The Hearing Officer shall hear all classes of
Department,within two hours of knowledge of the problem. (5-5-7) violations and shall have the authority to uphold or dismiss the fine.
Paragraph 3-None of the following parking violations will be Paragraph 7-Before towing a vehicle under either the provisions
voided over the telephone. of 5-5-5 or 5-5-6,the vehicle will be visibly tagged giving the owner SECTION 8-USE OF REVENUE
Article 2-Class One Violations,$25.00 Fine 72 hours notice that the vehicle must be moved,ores in 5-5-6, Article 1-General
Paragraph 1-Forging or altering a parking permit or decal,or made operable within said time,or the vehicle will be towed and Paragraph 1-All revenues derived as a result of these
using such permit or decal.Violators may also be subject to stored at the owner's expense.An extension of time may be regulations shall be paid into the Parking and Traffic Revenue
criminal penalty. granted by securing permission from the Parking Services Fund for the University of Northern Colorado to be used in meeting
Paragraph 2-Obtaining or attempting to obtain a parking permit, Department prior to the expiration of the original 72 hour period.(A the casts of the parking and safety programs.
decal,or parking privileges for which the applicant is not eligible pro rata reimbursement for the unused portion of the decal may be
Violators may also be subject to criminal penalty. claimed from the Parking Services Department,if applicable.) Revised Colorado Attorney General's Office-1992
Paragraph 3-Parking in a fire lane or obstructing a fire lane or Paragraph e-Any person whose vehicle has been impounded
building exit door. will be granted a post-impoundment hearing if he requests a
Paragraph 4-Removing or attempting to remove any temporary hearing within five(5)school days of the impoundment.It the
barricade or other regulatory signs.Violators may be subject to vehicle is released prior to the hearing,the person must post a
criminal penalty. bend for,deposit with the Parking Services Department,or provide
Paragraph 5-Parking in violation o1 barricades and/or cement some other form of security for the amount of the fines,fees,and
parking blocks. the impoundment charges pending the outcome of the hearing.
Paragraph 6-Parking in a wheelchair space without the required Paragraph 9-To insure proper crediting,anyone making payment
current University of Northern Colorado decal or permit. to the University of Northern Colorado Parking Services Department,
Paragraph 7-Parking in a manner as to obstruct a wheelchair be it by mail or in person,must have a copy of his/her ticket to be
access. paid,or the courtesy reminder attached before payment is accepted.
Paragraph 8-Parking a vehicle displaying a permit or decal not
issued a the vehicle. SECTION G eralPENALTIES,SANCTIONS AND PAYMENTS
or dec by fr-Obtaining og or attempting o obtain a parking tor Article 1-General
ls by s fraudulent t or criminal
l penalty. information.Violators Paragraph 1-Any person to vehicle found x in violation of these
may also be subject to criminal penalty. regulations shall be subject to one or more of the following sanctions:
Paragraph 10-Faculty,staff.students or other members of the a.Impoundment. l
University Community,parking in a designated visitor space. b.Referral of the matter to the appropriate administrative officer
Paragraph 11-Parking in a President Only space. of the University of Northern Colorado for disciplinary action.
Paragraph 12-Failure to stop fora stop sign. Fully committed to Affirmative Action and Equal Opportunity
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UNIVERSITY OF F '4ORTHERN COLORAuO
UNIVERSITY CENTER
ADMINISTRATIVE OFFICE
GREELEY,COLORADO 80639
(303) 351-2007
To Whom It May Concern:
For the purpose of evaluating the business potential of the private
lease shops at the University Center it should be noted there are
periods when there are no students on campus. These are:
Thanksgiving break - 4 days
Christmas break - 35 days
Spring break - 7 days
Holiday weekends - 6 days
There also is a period which is very short on students. The time
from the end of spring semester until fall semester starts, sometimes
referred to as summer time, is a fifteen week period that has no
consistancy, with as little as 500 students some weeks to no more
than 2,500 students in others. These students generally spend very
little time in the University Center because they all live off campus.
The full student body of approximately 10,500 is present on campus
for seven months. The other five months consist of either breaks or
summer time. This is a very important factor to consider to evaluate
the business potential of the U.C. shops correctly.
Sincerely,
Leonard Gadeken
Director of Stores
COMMITTED TO AFFIRMATIVE ACTION AND EQUAL OPPORTUNITY �/y
93062
APPRAISAL
OF THE
L L UNC STUDENT CENTER
2045 10 AVENUE
LEASE SPACE #4
Yc
TO
IZ / CAMPUS CUTS
i
PIN: 0138792
PARCEL: 0961-17-2-00-004
FOR THE
ABATEMENT HEARING
MAY 24, 1993
DATE OF VALUE: JUNE 30, 199
0
DATE OF REPORT: MAY 21, 1993
93062'7
F I NAL VALiJ E ESTIMATE
The final value estimate in the appraisal process is to approximate a value
for the subject property. This is done after analyzing the quantity, quality,
and reliability of the data utilized, strengths and weaknesses of the different
methods of valuation, and applicability of each approach to the type of property
being appraised. The final estimate of value approximates that which an
informed, rational investor would pay for the subject property if it were
available for sale on the open market at the date of appraisal, given the data
used in this report.
COST APPROACH N/A
SALES COMPARISON APPROACH 28,800
INCOME APPROACH 27,700
Based on the analysis I estimate the market value of the subject property
as of June 30, 1992/to be $27,700.
C
1
930627
PROPERTY- I NF O RMAT I On
Colorado statutes provide for the taxation of the possessory interest in
exempt property which is leased, loaned, or otherwise made available to and used
by a private individual, association, or corporation in connection with a
business conducted for profit.
In January 1991 the assessor became aware of the businesses in the student
center, we contacted the university to obtain blue prints and lease agreements.
In 1992 these lease spaces were valued for property tax purposes.
This property, which is the University of Northern Colorado's student center has
five lease spaces on the lower level which are currently leased to separate
business owners.
2
930627
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930627
H E A P P RA I SAL P Ft o C E S S
Cost Approach:
Underlying Principles: The principles applied in the cost approach are the
principle of substitution, and the principle of contribution. Substitution is
based on the assumption that buyers will not pay more for a structure than the
cost to duplicate it without undue delay. Contribution states that to have
value, a property must have adequate utility, and it is possible to incur cost
without creating commensurate usefulness.
Procedures: The cost approach determines value by estimating the land
value (as though vacant) , calculating the Reproduction Cost New (RCN) of a
property, and then subtracting depreciation due to all causes. The steps in the
cost approach are:
1. estimate the site as if vacant,
2. estimate the reproduction cost new of the improvements,
3. estimate the amount of accrued depreciation,
4. subtract the estimated accrued depreciation from the estimated
cost new and
5. add the estimated site value to the estimated depreciated
reproduction cost new.
Income Approach:
Underlying Principles: The principle of substitution says that value tends
to be set by the effective investment necessary to acquire, without delay, a
comparable substitute income-producing property offering and equally desirable
net income return. The principle of anticipation affirms that value is created
by the future, not the past, benefits achieved through possession or capital
gain.
Procedures: In the income approach value is usually estimated by
capitalizing net income. The steps in the income approach are:
1. estimate potential gross income
2. estimate and deduct a vacancy and collection loss to
determine effective gross income
3. estimate and deduct expenses of operation to
determine net operating income
4. estimate remaining economic life and the pattern of
the projected income stream
5. select an appropriate capitalization method
6. develop the appropriate rate
7. capitalize the net income into an estimated value.
5
930627
Sales Comparison Approach:
Underlying Principles: The rational of the sales comparison or market
approach is that a buyer will usually not pay more for a property than he would
pay in acquiring an equally desirable property. This is the principle of
substitution.
The principle of highest and best use requires a prudent purchaser examine
not only its current use, but all other uses to which the property is adaptable.
Procedures: Involves developing an indication of value by comparing the
subject property with other similar properties which have sold or are listed for
sale. The steps to develop a market comparison are:
1. collecting and analyzing the data
2. selecting appropriate units of comparison
3. making reasonable adjustments based on the market
4. applying the data to the subject of appraisal.
Highest and best use of the site is always estimated as if the land were
vacant and available to be put to its highest and best use. If there are
improvements on a site, the highest and best use may be different from the
existing use. This criterion becomes the measure of accrued depreciation on the
improvements. Highest and best use of the land assumes the subject improvement
usually sets the upper limit of value.
6
930627
COST APPROACH
To determine the cost of the subject lease space I used the Marshall
valuation cost service. Since the lease is only a fraction of the total floor
area we are using the cost approach as a cross check of our value.
Cost range of student activities center 60.75 - 103.50 per square foot.
The average cost for heating and cooling. 10.50 10.50
TOTAL COST 71.25 114.00
By averaging the costs the student activities center is worth 93.00 per
square foot.
Because there is no way to determine the fractional interest of the subject
lease space, we did not figure a cost approach for this property.
7
930627
= NC OME APP BOAC H
The Approach reflects the subject's income-producing capabilities. This
method of valuation entails capitalizing the anticipated future benefits form
ownership of the subject property, i.e. , net operating income, into an indication
of value. The subject property is the student union building located on the
campus of the University of Northern Colorado. Listed below is a summary of the
5 lease spaces rented for use by private business. These leases are net leases
to the landlord (the University) which means the tenants are responsible for the
fixed and variable expenses associated with property i.e. , real estate taxes,
maintenance, utilities, repairs and reserves for replacement.
Annual
Term Net Net Cap. Price Rent
Start Income Rent Rate P.S.F. Area Value
1. Pizza Hut $12,000 $18.75 / .13 = 144.23 x 640 sf x $92,300
2. Erickson's Flowers $ 3,600 10.00 1 .13 = 76.92 x 360 sf x 27,700
3. Campus Cuts $ 3,600 10.00 / .13 = 76.92 x 360 sf x 27,700
4. Cottonwood Travel $ 3,600 10.00 / . 13 = 76.92 x 360 sf x 27,700
5. Family Eye $ 3,600 10.00 / .13 = 76.92 x 360 sf x 27,700
These leases for A 3-5 year term and most of the leases commenced in 1990.
Lease Renewal
Space Start Term Option
1. Pizza Hut 11/89 5 yr 10 yr
2. Erickson Flowers 3/90 3 yr 2 yr
3. Campus Cuts 1/90 3 yr 5 yr
4. Cottonwood Travel 4/90 3 yr 2 yr
5. Family Eye 10/90 3 yr 5 yr
Lease space 5 originally leased to family eye has been transferred to
EZ Life effective 1/1/92 subject to all the terms, covenants, and agreements of
the original lease.
A capitalization rate converts net operating income into an estimate of
value. This rate can be determined by looking at the net operating income
divided by sales price.
8
930627
Summary of Overall Capitalization Rates
Sale Number 1078 1107 118
Date of Sale 1/92 4/91 9/86
Sales Price 818,000 356,000 774,900
Building SF 9,672 2,880 11,200
Net Operating Income 56,424 23,389 65,358
Overall Rate 6.90 % 6.57 % 9.08 %
Along with analyzing market capitalization rates, a band of investment has
been employed to estimate capitalization rate. This method of deriving a
capitalization rate considers mortgage terms and equity yields. It is assumed
that the subject can be financed with a 25-year loan bearing a 10.5 percent
interest rat. This produces a mortgage constant of 0.1144. Loan-to-value is 75
percent. It appears that an equity dividend rate of approximately 12 percent
would be required initially since there is not a significant increase in net
operating income over the projected 10-year holding period. Therefore, yields
will not substantially increase over time.
The overall rate calculated by the band of investment is as follows:
Weighted
Portion Rate Rate
Mortgage 0.75 x 0.1144 = 0.0850
Equity 0.25 x 0.1200 = 0.0300
Overall Rate 0.1150
(weighted average)
The band of investment suggests a capitalization rate of 11.5 percent. It
mirrors the attitude of an investor in the current market analyzing a property
purely on the basis of its income stream. These sales show a lower return that
an owner-occupant will accept. The greater the risk the higher the capital-
ization rate. Because the subject has five small lease spaces this would in
theory increase the landlord risk in getting and keeping these spaces leased.
The market rate of 7 - 7.5 (average of 7.25) will be increased 3 percent.
Adding an additional 3 percent or 40 percent downward adjustment in value should
account for this increased risk (3/7.25 = 41%) . Therefore, the normal capital-
ization rate should be 10.5 percent based on the market derived rate and this
correlates with the 11.5 percent of the band of investment.
Due to concerns of the tenants this rate was further increased to 13
percent due to lack of parking space, the holiday schedule and lack of marketing
to the general public. This is an 18 percent downward adjustment for an
increased risk (2/11 = .18%) . I have selected an overall adjusted rate of 13
percent as the capitalization rate.
9
93062•
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COMPARABLE SALE
1078
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PIN: 2041686 PARCEL # : 95911116016
OCCUPANCY: OFFICE
ADDRESS: 3535 W 12 ST GREELEY
BOOK # :A/07 RECORDED
SALE DATE: 01/01/92 RECEPTION # : 0
SALE PRICE: $368 , 100 ADJ SALE PRICE: $818 , 000
GRANTOR: FABRICIUS THOMAS
GRANTEE: BROWN MARK & R. O. KRON
CONSTRUCTION-QUAL: GOOD BLDG SIZE: 9 , 672
PR/SF(IMPS) : $70 . 09 YEAR BLT: 1985
PR/SQ FT: $84 . 57 CLASS: D
LAND SIZE: 40 , 020 WALL HEIGHT: 8
LAND VALUE: $140 , 070 STORIES : 1
LAND/BLDG RATIO: 4 . 14 BSMT SIZE: 961
REMARKS: GRANTEE PURCHASED 45% INTEREST FOR 368 , 100
TERMS : 89 , 100 DOWN, ASSUME 45% OF 620 , 000
PRINCIPAL BALANCE AT 11% . NOTE WAS WRAPPED
NET INCOME 56,424/818,000 = 6.9%
a 10
930627
O
COMPARABLE SALE
1107
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PIN: 2040086 PARCEL # : 95911115003
OCCUPANCY: OFFICE
ADDRESS: 3700 W. 10 ST
GREELEY
SALE DATE: 04/29/91
SALE PRICE: $356 , 000
GRANTOR: HSC INVESTMENTS
GRANTEE: WHITE, DANIEL & MARY
CONSTRUCTION-QUAL: GOOD
PR/SF( IMPS) : $44 . 17 BLDG SIZE: 2 , 880
PR/SQ FT: $123 . 61 YEAR BLT: 1980
LAND SIZE: 43 , 580 CLASS: D
LAND VALUE: $228 , 795 WALL HEIGHT: 9
LAND/BLDG RATIO: 15 . 13 BSMT SIZE: 0
REMARKS: NET INCOME 23,389/356,000 = 6.57%
11
930627
COMPARABLE SALE
118
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PIN: 2291586 PARCEL # : 95912400016
OCCUPANCY : OFFICE
ADDRESS: 1770 25 AV
GREELEY
SALE DATE: 09/30/86
SALE PRICE: $774 , 900
GRANTOR: FOSTER,SHAW,FLACK
GRANTEE: SHIRAZI ,SHAW,FLACK
CONSTRUCTION-QUAL: 0
- PR/SF(IMPS) : $61 . 14 BLDG SIZE: 11 , 200
PR/SQ FT: $69 .19 YEAR BLT: 1979
LAND SIZE: 30 , 056 CLASS: C
LAND VALUE: $90 , 168 WALL HEIGHT: 10
LAND/BLDG RATIO: 2 . 68 BSMT SIZE: 0
REMARKS: SALE 1/3 INT 258 , 300
NET INCOME 65,358/720,000 = 9.08 Cap Rate
12
930627
SALES C OM P AR I S O N A P P Ft.OAC I-1
The Sales Comparison or Market Data Approach is predicted on the principle
of substitution, which implies that a prudent purchaser would not pay more for
a property than it would cost to purchase a reasonably similar substitute. The
application of this approach yields an estimate of value for the property being
appraised by comparing it with similar properties that have recently sold, or are
currently offered for sale in the same or competing neighborhoods. With a
building such as the subject, sales are most frequently analyzed on the basis of
the sales price per square foot of gross building area. For comparative
purposes, in this report, the properties are being analyzed on the basis of price
per square foot of gross area.
The Sales Comparison Approach is probably the most easily understood by the
general public, since purchases typically familiarize themselves with the market
place and make informal comparisons of relative values and amenities. The com-
parability between two properties involves adjusting each sale or comparable
property with respect to differences in such elements of comparison as property
rights conveyed, financing terms, conditions of sale, market conditions (time) ,
location, and physical characteristics. Physical characteristics include, but
are not limited to, differences in building size, quality of construction, age
condition, architectural style, contributory value of the site, desirability of
site or view, or any other potential physical difference. These adjusted sales
prices, thus yield an indication of market value for the property being
appraised.
The Sales Comparison Approach is applicable when there is sufficient data
on recent market transactions to indicate value patterns; it is less useful when
data is scarce. Abrupt changes in economic conditions also limit the reliability
of the approach. The comparable used essentially represent all of the Greeley
transactions over the past three to four years involving buildings, more or less
similar to the subject. Motivation, therefore, becomes a factor when analyzing
these sales. Greeley does not stimulate much real estate interest in terms of
outside investors. The large majority of rental properties are bought and sold
locally, which tends to limit the potential market. Additionally, there is not
a large turn-over in the ownership of properties.
Sales Comparison Summary
Comparable Date of Sales Size Price/sf
Number Sale Price
Subject 360
82 2/87 64,000 800 80.00
1034 7/91 54,600 897 55.30
184 6/87 55,000 1,120 49.11
13
930627
It should be noted no buildings of 360 square feet have sold. The small
size of the subject increases the value per square foot considerably. Com-
parables 1034 and 184 need to be adjusted upward 50 percent for size, quality and
condition to compare to the subject.
As you can see from the example 1440 sf is 4 times 360 square foot but only
contains twice the exterior footage of wall.
18 x 20 = 360 sf 76 Lineal foot of wall
36 x 40 = 1440 sf 152 Lineal foot of wall
14
930627
COMPARABLE SALE
82
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PIN: 1800486 PARCEL #: 95901425010
OCCUPANCY: OFFICE
ADDRESS: 10 ST W 2305
GREELEY
SALE DATE: 02/02/87
SALE PRICE: $64,000
GRANTOR: PAWL, MICHAEL TRUSTEE
GRANTEE: HERR, ROBERT BLDG SIZE: 800
CONSTRUCTION-QUAL: LOW YEAR BLT: 1946
PR/SF(IMPS) : $67 .00 CLASS: D
PR/SQ FT: $80 .00 WALL HEIGHT: 12 FT
LAND SIZE: 2,600
LAND VALUE: $10 ,400
LAND/BLDG RATIO: 3 . 25
REMARKS:
15
930627
COMPARABLE SALE
1034
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PIN: 3252186 PARCEL #: 96108215016
OCCUPANCY: OFFICE
ADDRESS: 820 13 ST
GREELEY
SALE DATE: 07/01/91
SALE PRICE: $54 ,600
GRANTOR: LIMPITLAW, GUY B
GRANTEE: ANSON, R. RUSSELL
CONSTRUCTION-QUAL: 0
PR/SF(IMPS) : $44 . 23 BLDG SIZE: 897
PR/SQ FT: $55. 30 YEAR BLT: 1962
LAND SIZE: 4 , 963 CLASS: C
LAND VALUE: $9 ,926 WALL HEIGHT: 10
LAND/BLDG RATIO: 5 . 53 BSMT SIZE: 0
REMARKS: SALE 54 ,600-FF&E 5000=$49 ,600 . PREVIOUS SALE
5/21/84 $72 ,000. ANNUAL DECREASE 4%
16
930627
COMPARABLE SALE
184
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PIN: 3830086 PARCEL // : 96120317008
OCCUPANCY: OFFICE
ADDRESS: 36 ST 1101
EVANS
SALE DATE: 06/30/87
SALE PRICE: $55 ,000
GRANTOR: CENTRAL BANK OF GREELEY
GRANTEE: ANDERSON, DEAN BLDG SIZE: 1 ,120
CONSTRUCTION-QUAL: LOW YEAR BLT: 1980
PR/SF(IMPS) : $32 . 28 CLASS: C
PR/SQ FT: $49 . 11 WALL HEIGHT: 12 FT
LAND SIZE: 9 , 425
LAND VALUE: $18 ,850
LAND/BLDG RATIO: 8 . 42
REMARKS:
17
930627
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