HomeMy WebLinkAbout940730 RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1994, WELD COUNTY, COLORADO
PETITION OF:
TRUST U/W CARL R OSWALD
%CAROL OSWALD
14707 N 95 ST
LONGMONT, CO 80501
DESCRIPTION OF PROPERTY: PIN: R 5611786 PARCEL: 131311000057 - 25118-C PT
SW4 11 2 68 BEG ON ELY R/W LN OF HWY #25 WHICH IS
S89D33'E 279.50' FROM W4 COR THENCE S89D33'E 1024.45'
SOD21'W 34.42' THENCE N89D33'W 364.53' SOD29'W 6.87'
THENCE S05D46'W 618.54' N89D33'W 662.88' N05D46'E
649.76'
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
organized as the Board of Equalization for the purpose of adjusting, equalizing,
raising or lowering the assessment and valuation of real and personal property
within Weld County, fixed and made by the County Assessor for the year 1994, and
WHEREAS, said petition has been heard before the County Assessor and due
Notice of Determination thereon has been given to the taxpayer(s) , and
WHEREAS, the taxpayer(s) presented a petition of appeal of the County
Assessor's valuation for the year 1994, claiming that the property described in
such petition was assessed too high, as more specifically stated in said
petition, and
WHEREAS, said petitioner being represented by Carol Oswald, and
WHEREAS, the Board has made its findings on the evidence, testimony and
remonstrances and is now fully informed.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Board of Equalization, that the evidence presented at the
hearing clearly supported the value placed upon the Petitioner' s property by the
Weld County Assessor. Such evidence indicated the value was reasonable,
equitable, and derived according to the methodologies, percentages, figures and
formulas dictated to the Weld County Assessor by law. The assessment and
valuation of the Weld County Assessor shall be, and hereby is, affirmed as
follows:
940730
J_NcmC°3° PCB R �`� ,
Page 2
RE: BOE - TRUST U/W CARL R OSWALD
ORIGINAL
Land $ 231,525
Improvements OR
Personal Property 22,261
TOTAL ACTUAL VALUE $ 253, 786
BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by
the Board of Equalization may be appealed by selecting one of the following three
options:
1. Board of Assessment Appeals: You have the right to appeal the
County Board of Equalization's (CBOE' s) decision to the Board of
Assessment Appeals (BAA) . Such hearing is the final hearing at
which testimony, exhibits, or any other evidence may be
introduced. If the decision of the BAA is further appealed to
the Court of Appeals, only the record created at the BAA hearing
shall be the basis for the Court's decision. No new evidence can
be introduced at the Court of Appeals. (Section 39-8-108(10) ,
CRS)
Appeals to the BAA must be made on forms furnished by the
BAA, and should be mailed or delivered within thirty (30)
days of denial by the CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 523
Denver, CO 80203
Phone: 866-5880
OR
2. District Court: You have the right to appeal the CBOE's decision
to the District Court of the county wherein your property is
located. New testimony, exhibits or any other evidence may be
introduced at the District Court hearing. For filing
requirements, please contact your attorney or the Clerk of the
District Court. Further appeal of the District Court's decision
is made to the Court of Appeals for a review of the record.
(Section 39-8-108(1) , CRS)
OR
940730
Page 3
RE: BOE - TRUST U/W CARL R OSWALD
3. Binding Arbitration: You have the right to submit your case to
arbitration. If you choose this option the arbitrator's decision
is final and your right to appeal your current valuation ends.
(Section 39-8-108.5, CRS)
Selecting the Arbitrator: In order to pursue arbitration, you
must notify the CBOE of your intent. You and the CBOE select an
arbitrator from the official list of qualified people. If you
cannot agree on an arbitrator, the District Court of the county
in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held
within sixty days from the date the arbitrator is selected. Both
you and the CBOE are entitled to participate. The hearings are
informal. The arbitrator has the authority to issue subpoenas
for witnesses, books, records, documents and other evidence. He
also has the power to administer oaths, and all questions of law
and fact shall be determined by him.
The arbitration hearing may be confidential and closed to the
public, upon mutual agreement. The arbitrator's written decision
must be delivered to both parties personally or by registered
mail within ten (10) days of the hearing. Such decision is final
and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed
upon by you and the CBOE. In the case of residential real
property, such fees and expenses cannot exceed $150.00 per case.
The arbitrator's fees and expenses, not including counsel fees,
are to be paid as provided in the decision.
940730
Page 4
RE: BOE —TRUST U/W CARL R OSWALD
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 28th day of July, A.D. , 1994.
Ma%
BELDD OF TYUNCY COMMISSIONERS.ATTEST: / / WELD COUNTY, CO CORADO
OMMISSIONERS
�... \ ��^
LC
Weld County Clerk to the Board / ���--/° �'
W. . ebst a rma
BY: �/ f
Deputy Cler to the Boar Dale .K. Hall, Pr Tem
APPROVED AS TO FORM: i� � -
eor e � Baxter
l
Pe friLei.
C ty Attorney onstance L. Harbert
/Barbara J. Kirkme er O
940730
`9f-fie. 6 3(- tr
9`f-J/ ;
BOE DECISION SHEET
PIN II: R 5611786 PARCEL I/: 131311000057
TRUST U/W CARL R OSWALD
%CAROL OSWALD
14707 N 95 ST
LONGMONT, CO 80501
HEARING DATE: July 28, 1994 TIME: 9:00 A.M.
HEARING ATTENDED? ON) NAME: (Z /2 e-67�
AGENT NAME:
APPRAISER NAME: ) rx_- 4
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL SET BY BOARD
Land $ 231,525 $
Improvements OR
Personal Property 22,261
Total Actual Value $ 253, 786 $
COMMENTS: ��
MOTION BY _� TO I G'_y2�.,i " SI
/ t
SECONDED BY Baxter -- (Y )
Failed toprove appropriate Hall Y N)
value Harbert -- Yl )
No comparables given Kirkmeyer -- Y 'N)
Other: Webster -- (Y1 )
RESOLUTION NO.
940730
OF HC ir
O- CU l i t ASS`LSSU
1400 NORTH 17th AVE.
GREELEY,COLORADO 80631
NC TICE OF ADJUSTMENT PHONE (303) 353-3845, EXT. 3656
WIND 2D118-C P7 SW4 1I 2 6E BEG UN ELY R/W Ll1 tiff^'`i r `r'
D Cc≥JJ Hwy Ii25 WHICH IS Sk19D33sE 279. 08 FROM w4 (rt�! -. • � , r-r;..
COLORADO THENCE St3903J8t 1024.45' 500218 w J4.428 THENCE
Ntico3.3''w 364.538 50029814 0.678 THENCE S01519,10101 9: ! 7
61tl•548 Nd9D3J8i. 662•de' NO D4o't 649.708
10500 25 FRONTAGE I COLRH��2
LWN4N TRUST U/w CARL R OSWALU {� TF^Citn
TRUST U/W CARL ri OSrWALD PARCEL 131J11000051
PIN R 5611786
;-CAROL OSeALD
14707 N 95 ST YEAR 1 5i4
LONGMONT CU 80501 LOG 0012
05/17/1994
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):
>lE:i I DENT IAL PUUPtR T Y IS VALULU tiY CONSIDER-11,4i THL. MARKET APPROACH.
AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OA PRODUCTIVE
CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET by LAW.
ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERIN+. 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:
A RtVItW OF THE MARKET VALUE OF LAND IN YOUR NEIGHBORHOOD INDICATES
YOUR LAND VALUATION IS CORRECT.
THE ACTUAL VALUATION OF YOUR PROPERTY HAS BEEN ADJUSTED BASED UPON
THE ADDITIONAL INFORMATION YOU HAVE PAOVi0EO.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
LAND 231 , b2a 2318525
IMPS 713, 347 22,261
TOTALS $ $ 269, 672 $ 253. 7d6
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,
39-8-106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: WARREN L. LASELL 05/23/44
WELD COUNTY ASSESSOR C 1-G : / 3 ' ( • DATE 15-DPT-AR 9 q
407
Form PR-207-87/94 ADDITIONAL INFORMATION ON REVERSE SIDE
;T:3 HA ' 4 .a. A dS4Lw.<Or4M 4- Ut !
n k ,4 ..rt�:YC :u; ay�p � c. fr; �Y 3r {" t-3rv€ h August 5 for
f tY�� n '✓ .>;;. gas ;ifs .♦ t � n �.' � 3 .»= i .a t�s _Y �,..trtr, <•. . 39-F-104 and
APPEAL r-42O...RDURE5. . ,
L UN v v)O.4“, :.F Fa, uMt 6F.R.I 4s➢r! 1.4t:
.44 .t. ,- "d;,..; p.41 Y : Yr�-C' t .,i
yet : .i. tL)MIF.
COstr c4:
_ _ n _ ♦ 'c; t qtr ti'DC}. ' Y) L bh,r) _ W .
.;' f4 secs mer.`
.3:3"! ♦:.i. E., , rye ♦'r r JC,
It is unfair to double anyone's
taxes in one year. We are committed to a lease that is in effect until January 1996.
Weld County will take approximately 50% of the income. Based on the value of the
lease, the value of the land and improvements is approximately $180,000.00.
9407a
fjirt DEPARTMENT OF FINANCE AND ADMINISTRATION
PHONE(303)356-4000 4218
P.O..BOX 758
GREELEY,COLORADO 80632
C.
COLORADO
July 19, 1994
Parcel No. : 131311000057 PIN No. : R 5611786
TRUST U/W CARL R OSWALD
%CAROL OSWALD
14707 N 95 ST
LONGMONT, CO 80501
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Thursday, July 28,
1994, at or about the hour of 9:00 A.M. , to hold a hearing on your
valuation for assessment. This hearing will be held at the Weld County
Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor
Hearing Room.
You have a right to attend this hearing and present evidence in support of
your petition. The Weld County Assessor will be present before the Board.
The Board will make their decision on the basis of the record made at the
aforementioned hearing, as well as your petition, so it would be in your
interest to have a representative present. If you plan to be represented
by an agent or an attorney at your hearing, prior to the hearing you shall
provide, in writing to the Clerk to the Board's Office, an authorization
for the agent or attorney to represent you. If you do not choose to
attend this hearing, a decision will still be made by the Board by the
close of business on August 5, 1994, and mailed to you on or before
August 10, 1994.
Because of the volume of cases before the Board of Equalization, all cases
shall be limited to 15 minutes. Also due to volume, cases cannot be
rescheduled. It is imperative that you provide evidence to support your
position. This may include evidence that similar homes in your area are
valued less than yours or you are being assessed on improvements you do
not have. Please note: The fact that your valuation has increased cannot
be your sole basis of appeal. Without documented evidence as indicated
above, the Board will have no choice hut to deny your appeal.
940730
TRUST U/W CARL R OSWALD - R 5611786
Page 2
At least two (2) working days prior to your hearing the Assessor will have
available, at your request, the data supporting his valuation of your
property.
Please advise me if you decide not to keep your appointment as scheduled.
If you need any additional information, please call me at your
convenience.
Very truly yours,
BOARD OF EQUALIZATION _—/ 441
Donald D. Warden,
Clerk to the Board
BY: ` 4 , /
K mberlee A. Schuett, Deputy
cc: Warren Lasell, Assessor
940730
VALUE AND APPEAL HISTORY PIN# 5611786
Actual Value Tax Year 1993 Assessed Tax Rate
Land $102, 900 $29,840
Imps 38,347 11, 120
Total $141,247 $40, 960 . 127436
Actual Value Tax Year 1994
Land $231,525 $67, 140
Imps 38, 347 11, 120
Total $269,872 $78,260 . 127436
Actual Value Tax Year 1994, After Assessor Appeal
Land $231, 525 $67, 140
Imps 22,261 6 ,450
Total $253, 786 $73,590 Undetermined
940730
I
IL.JIAJNI) S ALE S
LEGAL. GEANTOR SALE DATE SALE PRICE SIZE PRICE/SQR'T
�. _.
ACRE$/SF
Pin# 5611786 10.29 $22,500/AC
Carl Oswald Trust $231,525
10500 I-25 Frontage 448,232 SF
Road, Del Camino
1 Pin# 0174789
Del Camino Pt SW4 Rawlins Bank 9-28-89 $350,000 16.86 $20,759/AC
Sec 11 T2 R68 to Stan
10400 I-25 Frontage Barrett 734,422 SF $.48/SF
2 Pin# 0094493
Indian Peaks Rowe to 5-21-92 $21,800 1.002 $21,800/AC
L 5 Blk 1 Steinbacher
3991 County Rd 18 43,643 SF $.50/SF
3 Pin# 0042292
Indian Peaks Rowe to 8-31-91 $39,000 2.02 $19,307/AC
L 2 Blk 1 Murphy
8123 I-25 Frontage 87,991 SF $.44/SF
4 Pin# 0042090
Del Camino Comm Del Camino 8-9-89 $86,800 4.45 $19,506/AC
L 1 Blk 1 Partners to
4045 Specialty P1 Bigelow 193,842 SF $.45/SF
5 Pin# 5675586
Hwy Oasis Annex Mannon to 4-1-92 $360,000 4.0 $90,000/AC
Pt NE4 3-1-68 Kunter
3774 Hwy 52 174,240 SF $2.07/SF
6 Pin# 4763986 Landscape
Sekich Bus Pk Partners to 5-1-90 $152,000 6.00 $25,333/AC
L 1 Blk 1 Western
4023 Mulligan Dr Refractory 261,360 SF $.58/SF
7 Pin# 0073191
Sekich Bus Pk Sekich 10-18-90 $180,000 6.21 $28,986/AC
L 4 Blk 1 Partners to
14444 I-25 Frontage Mountain 270,508 SF $.67/SF
Moulding
8 Pin# 5588986
Del Camino Pt NE4 Dalton to 8-6-92 $71,000 1.008 $71,000/AC
Sec 10 T2 R68 McKnight
10569 I-25 Frontage 43,937 SF $1.62/SF
9 Pin# 0174889
Del Camino Pt SW4 Rawlins Bank 12-22-92 $135,000 6.00 $22,500/AC
Sec 11 T2 R68 to Flatiron
10100 I-25 Frontage Structures 261,360 SF $.52/SF
10 Pin# 0174789
Del Camino Pt SW4 Current 6-31-92 $700,000 16.86 $41,518/AC
Sec 11 T2 R68 Listing
10400 I-25 Frontage Stan Barrett 734,422 SF $.95/SF
940730
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940730
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940730 . -
COMPARABLE SALE
0
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;II111111il1'1
PIN: 6234986 PARCEL #: 147117000070
OCCUPANCY: WHSE STOR
ADDRESS: 3450 CR 27
SALE DATE: 10/15/90
SALE PRICE: $175,600
GRANTOR: UNITED BANK OF BRIGHTON
GRANTEE: GREENFIELD, JOYCE BLDG SIZE: 15,000
CONSTRUCTION-QUAL: AVG YEAR BLT: 1979
PR/SF(IMPS) : $9. 96 CLASS: D
PR/SQ FT: $11.71 WALL HEIGHT: 16 FT
LAND SIZE: 228,690
LAND VALUE: $26,250
LAND/BLDG RATIO: 15. 25
REMARKS: ADJ SALE $150,000 TO $175,600 BASED ON INCOME
INDICATING NET RENT FOR TYPICAL " LAND TO BUILDING" RATIO
PLUS LEASE ON EXCESS LAND (DATA AVAILABLE)
940730
COMPARABLE SALE
0
91
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PIN: 6105486 PARCEL # : 147105206004
OCCUPANCY: WHSE/STOR
ADDRESS: 638 MAIN ST FT LUPTON
PROJECT: 0
SALE DATE: 02/13/92 BOOK # : 1326
SALE PRICE: $75,000 RECEPTION #: 2278068
ADJ SALE PRICE:
GRANTOR: BREICKLER - RYAN CO
GRANTEE: GRAY THOMAS J
YEAR BLT: 1979 LAND/BLDG RATIO: 3 .65
BLDG SIZE 5 ,760 IMPS PRICE/PSF: $10.47
CLASS: D SALE PRICE/PSF: $13 . 02
CONSTRUCTION-QUAL: AVG CASH DOWN: $0
WALL HEIGHT: 16 LOAN: 0
STORIES` 1 INTEREST RATE: 0 .0%
BSMT SIZE: 0 LOAN TERM (YRS) : 0
LAND SIZE: 21 ,000 POINTS PAID: 0
LAND VALUE: 14 ,700
REMARKS: OFFICE 455SF (8% ) WHSE 5305SF (9241
CONC LOAD OUT WELL 840SF
BANK LOAN 70% , PRIVATE 30% , BOTH SHORT TERM
940730
COMPARABLE SALE
0
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PIN: 5291086 PARCEL #: 130931415017
OCCUPANCY: WHSE STOR
ADDRESS: 1267 FACTORY CR DR FT LUPTON
BOOK #: 1243
SALE DATE: 09/07/89 RECEPTION # : 2191479
SALE PRICE: $85,000 ADJ SALE PRICE: $81 ,000
GRANTOR: FIRST SECURITY BANK
GRANTEE: DEROO, BRADLEY
CONSTRUCTION-QUAL: AVG BLDG SIZE: 2,820
PR/SF(IMPS) : $24.11 YEAR BLT: 1981
PR/SQ FT: $28 .72 CLASS: D
LAND SIZE: 28,314 WALL HEIGHT: 18
LAND VALUE: $13 ,000 STORIES: 1
LAND/BLDG RATIO: 10.04 BSMT SIZE: 0
REMARKS: ADJ SALE PRICE TO $81 ,000 DEDUCT MOBILE HOME
@ $4,000.
940730
8
Pin# 5611786
INCOME APPROACH
The county has obtained vacant land leases which range from
$ . 04 PSF to $ . 15 PSF and land sizes range from 16 , 000 SF ( . 37 acre)
to 130, 850 SF ( 3 . 00 acres) . The capitalization rate for vacant
land is recognized typically at 7% to 8% .
Two of the vacant land leases are in the Del Camino area with
rents at $ . 11 PSF and $ . 15 PSF with land sizes of 43,927 sq. ft.
and 87 , 120 sq. ft. respectfully. They have Highway I-25 visibility
with frontage road access and are fully fenced for security.
The net rent selected for this analysis is $ . 04 PSF, or the
lowest net rent when considering the subjects actual area of
448, 2132 sq. ft. and a cap rate of 7% .
INCOME ANALYSIS
Net Rent . 04 PSF x 448,232 sq. ft . = NOI $17, 929
Cap Rate 7% _ $256 , 129
Rounded to $256 , 000
As a result of all the data analyzed, the Market Approach and
Income Approach support the assessors value, as of June 31 , 1992 ,
and recommend no further change of the 1994 value.
LAND $231,525
IMPS 22,261
TOTAL $253,786
940730 c.
i
LEASE AGREEMENT
This Lease Agreement is made and entered into effective as of the
day of November , 1987 , by and between Carol L. Oswald, personal
representative for the Estate of Carl R. Oswald, referred to hereafter
as Lessors, and Colorado Factory Homes, Inc. , d/b/a New Vision Homes,
referred to hereafter as Lessee.
WHEREAS, the Lessee wishes to lease certain real property from the
Lessors, and Lessors desire to lease to Lessee; and
WHEREAS, the parties wish to set forth the terms, conditions and
covenants of said lease;
NOW THEREFORE; in consideration of the mutual covenants , agreements
and conditions hereinafter contained, the parties hereto covenant and
agree as follows:
1. Demised Premises. The Lessors lease to the Lessee and the
Lessee rents of and from the Lessors the property described as 10500
East Frontage Road, Longmont, Colorado, 80501, referred to hereinafter
as the premises, including all improvements located thereon in their
"as-is" condition, and all easements, rights, appurtenances and
privileges used, or usable, in connection with or belonging thereto.
2. Term. The term of this lease and agreement shall commence on
January 11, 1988 for a period of one (1) year, and shall terminate on
January 19, 1989. Within 90 days prior to January 10 , 1989 Lessee
shall have the option of renewing this lease for a period of two (2)
one-year terms, the first beginning January 11 , 1989 and ending
January 19, 1990 , the second beginning January 11, 1990 and ending
January 10, 1991.
3 . Rent. The rent to be paid for the demised premises shall be
$13, 300 (Thirteen Thousand, Three Hundred) for the original term of this
lease, payable in monthly installments of $1, 108 . 33 (One Thousand One
Hundred Eight and 33/100) . The rent to be paid for said option terms
shall be $20 , 600 (Twenty Thousand Six Hundred) , payable in monthly
installments of $1 ,716 . 66 (One Thousand Seven Hundred Sixteen and 66/100) .
4 . Deposit. Prior to entry on premises under the terms hereof
the Lessee shall deposit with the Lessors the sum of $1, 108. 33 (One
Thousand One Hundred Eight and 33/100) as the first month' s rent, plus
1
940730
Mit 41
IN WITNESS WHEREOF, THE PARTIES A E HEREUBSCRIBED THEIR
HANDS D SEALS T IS DAY OF 17-an NSU, 1987 .
ANDY D ' BROSIO, President Colorado ROL OSWALD, Personal Repre-
Homes, Inc. , d/a/b New Vision Homes sentative, Estate of Carl R.
. Oswald
IE FINNICK, Vice President
(_(!:
/ JJ LESSEE LESSOR
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940730
ADDENDUM
This Addendum to the Lease Pgrccment between CAROL L. OSWALD,
personal representative of the Estate of Carl R. Oswald, Lessor,
and ANDY D'AMBROSIO d/b/a NEW VISION HOMES, INC. , Lessee, executed
on the l.lth day of Novenber, 1987, and attached hereto, hereby
extends the tern of said lease agreanent as set forth in paragraph 2.
Said extention shall begin on January 10, 1989 for a period of one
year, ending Jan 10, 1990. R M oaf' p yP p /� y$74C d ri
O,-� /5'one/ yiat.
All other tents and conditions shall renain in full force and
effect.
DATED this ( 7 day of January, 1989.
•
•
Y D' R , Presiden E CKA, P sonal
New sion Hanes Representative for the
Estate of Carl R. Oswald
T.RSSEE LESSOR
•
940730
ADDENDUM
This Addendum of the Lease Agreement between CAROL L. OSWALD,
personal representative of the Estate of Carl R. Oswald, Lessor,
and Colorado Factory Homes Inc. dba New Vision Homes Inc. ,
lessee, dated this October 31 , 1989 , and attached hereto, hereby
extends the term of said lease agreement for 12 months, beginning
January 11 , 1990 and ending January 10, 1991 . This lease shall
carry two additional 1 year terms.
The rent to be paid on this additional term shall be $1 , 800.00
monthly. All other terms and conditions shall remain in full
force and effect.
Pursuant to the above Addendum to the stated lease, the Lessor
agrees to provide $10,000 .00 toward lot improvements. Arrangements
i
and payments for these improvements are to be made by the Lessee
and reimbursed by the Lessor by allowing a reduction in the
lease payments of $1 , 000. 00 per month, ',ie, payments to Lessor
will be $800. 00 for the first 10 months .
Dated this 31st day of October, 1989 .
Andy 'Ambrosio, Vice President CHARLANE M. MALECKA, Personal
Colorado Factory Homes, Inc. dba Representative for the
New Vision Homes Estate of Carl R. Oswald
940730
ADDENDUM
This Addendum to the Lease Agreement between CAROL L. OSWALD,
personal representative of the Estate of Carl R. Oswald, Lessor,
and ANDY D'AMBROSIO d/b/a NEW VISION HOMES, INC. Lessee, executed
on the 11th day of November, 1987, and attached hereto, hereby
extends the term of said lease agreement as set forth in paragraph 2.
Said extention shall begin on January 10, 1991 for a period of one
year, ending January 10, 1992. Lessee shall also have an option for
( ) additional 1 year extension (s).
All other terms and conditions shall remain in full force and
effect.
Dated this /4 day of 19 7,72--ri
1NICKg� B, F en CAROL L. OSWALD, ersonal
; Presidtw Visionomes Representative for the
Estate of Carl R. Oswald
LESSEE LESSOR
940730
ADDENDUM
This Addendum to the Lease Agreement between CAROL L. OSWALD, personal
representative of the Estate of Carl R. Oswald, Lessor, and ANDY
• D'AMBROSIO d/b/a NEW VISION HOMES, INC. , Lessee, executed on the
11 th day of November, 1987, and attached hereto, hereby extends
the term of said lease agreement as set forth in paragraph two (2) .
Said extension shall begin on January 10, 1993 for a period of one
year, ending January 10, 1994. Lessee shall have the option for
two additional one year extension.
All other terms and conditions shall remain in full force and effect.
Dated this if day of January, 1993.
Andy rosio Carol L. Oswald, Personal representative
for the Estate of Carl R. Oswald
r �
sident, New Vision Hanes
940730
Robert L.Txnnin, c.P.A.,Pc.
CERTIFIED PUBLIC ACCOUNTANTS
Paragon Building • 7100 East Belleview Avenue-Suite 106 • Englewood, Colorado 80111.1634 • (303) 741-1460
July 25, 1994
Weld County Commissioners and Assessor
P.O. Box 758
Greeley, Colorado 80632
Dear Sirs:
Please be advised that I have prepared the federal and Colorado
fiduciary income tax returns for the Carl Oswald Trust since its
formation on June 29, 1985. The only asset of this trust is the
real estate located at 10500 East I-25 Frontage Road, Longmont,
Colorado 80504 . The beneficiaries of this trust are the surviving
children of Carl Oswald.
For property tax valuation purposes, the following schedule sets
forth the gross rental income received from the property at 10500
East I-25 Frontage Road, Longmont, Colorado 80504 for the last five
years.
Year Amount
1993 $ 25, 256
1992 24, 150
1991 24 , 000
1990 15, 500
1989 18, 058
Sincerely,
ROBERT I..� TINNIN, C.P.A. , P.C.
a1"d..N +—
Robert L.Tinnin
RLT/jat
940730
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940730
AS0030
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