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Home My WebLink About930692.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO PETITION OF: WEST GREELEY NATIONAL BANK P 0 BOX 1423 GREELEY, CO 80632 DESCRIPTION OF PROPERTY: PIN: R 2129386 PARCEL: 095912104003 - GR 17534E PT TR A GREELEY PLAZA (PT NE4 12 5 66) BEG N89D54'E 664.44' & SOOD06'E 80' FROM NW COR N89D54'E 192.99' SOD03'E 423. 77' S89D54'W 192.64' NOD06'W 423. 77' TO BEG%1001 27TH AVE% WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County, fixed and made by the County Assessor for the year 1993, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s) , and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 1993, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present, and WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the evidence presented at the hearing 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: 930692 Sc oo? 7 Page 2 RE: BOE - WEST GREELEY NATIONAL BANK ORIGINAL Land $ 400, 737 Improvements OR Personal Property 99,264 TOTAL ACTUAL VALUE $ 500, 001 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) 930692 Page 3 RE: BOE - WEST GREELEY NATIONAL BANK OR 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. 930692 Page 4 RE: BOE - WEST GREELEY NATIONAL BANK The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 29th day of July, A.D. , 1993.LeAdATTEST: BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO Weld County Clerk to the Board cs�e Constance L. Harbert, Chairman BY: / 1., lc --4/Yf�c ABSTAINED ` Deputy Cle o the Soar C W. H Webster, ro-Tem TnTr pe :1----m Dare K. Hall /faixi ire J es,. nR LA�rti /Barbara J. Kirkmeye 930692 BOE DECISION SHEET PIN II: R 2129386 PARCEL If: 095912104003 WEST GREELEY NATIONAL BANK P 0 BOX 1423 GREELEY, CO 80632 HEARING DATE: July 29, 1993 TIME: 10:00 A.M. HEARING ATTENDED? (Y P1 , NAME: AGENT NAME: TAX PROFILE SERVICES INC APPRAISER NAME: DECISION: DECREASE IN VALUATION INCREASE IN VALUATION NO CHANGE IN VALUATION 5e-- ASSESSMENT RATIO ACTUAL VALUATION ORIGINAL ADTED Land $ 400, 737 $ y©O Improvements OR Personal Property 99,264 97; )-6/ Total Actual Value $ 500,001 $S2'02 02 t50/ COMMENTS: 1 MOTION BY y/-1 TO :71.0n y ,'n (Jk® /a. SECONDED BYi Baxter -- YIN) Failed to Hall -- . N) �'�`oO Harbert -- i N) Comparables inadequate Kirkmeyer -- , N) Other: ohJ cc E- Webster -- (y/DO et RESOLUTION NO. 930692 JUN 14 '93 12:09PM ABC CENTRRL ACCTG /. �ri•t1 E th AV a55uR \) 1400 NORTH nth AVE. NOTICE DF' DEHIgtGREELEY, COLORADO 80631 ' • PHONE (303) 353.3843, EXT. 3656 Nine • GR 27534E PT TR 'A GREELEY PLAZA � (PT NE4 :° 12 5 66) . ' OLORADQ BEG N89054'E 6644441 It ' SOOD06'E ' 800 FROM NW 'COR N890541 192.99 ' 50003'E '423.775 589054 192464' NOD06 'W '423.77e TO BEG%1001 27T 2627 i W 20'• BST 4 , GREELEY , ' OWNER WEST GREELEY 'NATION'AL- SANK ' WEST "GREELEY NATIONAL BANK PARCEL 095912104003 PIN R 2129386 P 0 BOX 1423 YEAR 1993 GREELEY CO 80632 LOG . 02267 ' 05/2E/1993 The appraised value of property is based on the appropriate consideration of the approaches to value required by law.The Assessor has determined that your property should be Included in the following categorylies): RESIDENTIAL PROPERTY IS VALUED BY' CONSIDERING :THE MARKET APPROACH, AGRICULTURAL LAND VALUE IS DETERMINED •5OLELY BY THE EARNING OR PRODUCTIVE CAPACITY OF 'THE LAND, CAPITALIZED AT A RATE SET BY LAW, ALL OTHER PROPERTY§ INCLUDING VACANT LAND, IS VALUED EY '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 fell. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest and has deter. mined the valuation(.) assigned to your property. The reasons for this determination of value are: YOUR PROPERTY HAS BEEN UNIFORMLY VALUED FOLLOWING COLORADO LAW AND INSTRUCTIONS PUBLISHED BY THE STATE DIVISION OP.' PROPERTY TAXATION. YOUR PROTEST OP VALUE HAS BEEN DENIED DUE 'TO COMPARISON OF OTHER SIMILAR PROPERTIES WHICH SOLD DURING THE ,1 991/1992 TINE PERIOD. THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY VALUE' TO BE CORRECT FOR THAT PERIOD, • • • PROPERTY CLASSIFICATION PETITIONER'S ASSESSOR'S VALUATION' ' • ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW I ' • LAND • 400, 737 4002737 IMPS 99, 264 992264 • TOTALS $ $ Ran, nos $ stem s If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,§00 39.8.106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal. By. WARREN L. LASELL 06/02/93 • WELD COUNTY ASSESSOR DATE 9306c �,oa y 3 WELD COUNTY ASSESSOR PETITION FOR REVIEW Hu 0 7 1993 TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZA GREELEY,COLD. Petitioner, BANC ONE COLORADO CORP c/o Tax Profile Service (TPS INC. ) 1123 Auraria Parkway, Suite G-100, Denver CO. 80204, requests review of the County Assessor's Notice (s) of Valuation for Subject Property (described below) for tax year 1993. Copies of the Personal Property notices of valuation are attached hereto and incorporated herein by reference. DESCRIPTION OF SUBJECT PROPERTY: Schedule # 095912104003 Location : WEST GREELEY NATIONAL BANK The Subject Property is described, with Schedule numbers, a copy of which is attached hereto and incorporated herein by reference. ESTIMATED TIME FOR PETITIONER TO PRESENT CASE: 60 minutes, or 1 hour. REPRESENTATION: Petitioner requests a hearing at which petitioner will be represented by the following registered agent, Tax Profile Service INC. , or legal counsel: (303) 628-0405 a CERTIFICATE OF SERVICE I certify that I have served a copy if this Petition, with attachments, on the County Board of Equalization by hand delivery, this 2nd day of JULY ,1993 TAX PROFILE SERVICE, INC. By: 11`-t� , J-•ff> M onroe 11 : c"ra 'a Parkway, Suite G-100 Denver Colorado, 80204 Telephone: ( 303) 628-0405 m 0,2 04 3�:O gig? . (t 11,40 \ I CLERK TO THE BOARD P.O. BOX 758 C. GREELEY,COLORADO 80532 p03)358.4000 EXT.4225 COLORADO July 9, 1993 Parcel No. : 095912104003 PIN No. : R 2129386 WEST GREELEY NATIONAL BANK P 0 BOX 1423 GREELEY, CO 80632 Dear Petitioner(s) : The Weld County Board of Equalization has set a date of Thursday, July 29, 1993, at or about the hour of 10:00 A.M. , to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearing Room. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor will be present before the Board. The Board will make their decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 1993, and mailed to you on or before August 10, 1993. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. S 0692 WEST GREELEY NATIONAL BANK - R 2129386 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 44)1/aiL Donald D. Warden, Clerk to the Board BY: Carol A. Harding; Deputy cc: Waay�ren Lasell, Assessor L ' AX PROFILE SERVICES INC, Banc One - West Greeley Schedule 1 0959-12-1-04-003 2600 West 10th, Greeley Several factors have contributed to the decline in value regarding the bank properties located in Weld County. The first and most influential factor is the economic obsolescence attributable to the entire State of Colorado during the economic downswing of the late 1980's. Economic Obsolescence is defined as: External obsolescence, the diminished utility of a structure due to negative influences from outside the site, is incurable on (sic) part of the owner, landlord, or tenant. The total value loss due to external obsolescence must be allocated between the land and the improvements. External obsolescence can be caused by a variety of factors - e.g. , neighborhood decline; the property's location in a community, state, or region, or market conditions. An estimate of external obsolescence should be based on thorough neighborhood or district analysis.L Our analysis of the banking industry throughout State of Colorado reflects a tendency to overvalue bank facilities , primarily caused by the incorrect utilization of the cost approach to value. Almost all county assessors place their prime reliance on this approach. Without correcting this approach in recognizing functional obsolescence (both curable and incurable) , and external obsolescence, bank properties experience an overvaluation of 40% on average. The Weld County Assessor has recognized that the cost approach to value would need considerable adjustments in the form of depreciation that would render this approach unreliable. The Assessors office as well as the petitioners representatives have placed the income approach to value as the best indicator of true market value. The market approach was used as a measure to support the value conclusion. Cost Approach: Income Approach: $295,323 Market Approach: Value Conclusion: $295,323 'The Appraisal of Real Estate, American Institute of Real Estate Appraisers, Ninth Edition, p.395 SURVEY FOR: WELD COUNTY ASSESSOR PROPERTY OWNER: BANC ONE OF COLORADO CORP ADDRESS: 2600 WEST 10TH TYPE: BANK BANK NET LEASABLE 4, 315 RENT PER SQUARE FOOT $12 .00 POTENTIAL GROSS INCOME $51,780 LESS VACANCY 5.00% EFFECTIVE GROSS INCOME $49 ,191 LESS EXPENSES 35% NET OPERATING INCOME $31, 068 OVERALL CAP RATE 10.52% ESTIMATE OF VALUE $295,323 TOTAL ESTIMATE OF VALUE $295,323 Band of Investment Technique Market information indicates that available funding for properties of like utility to the subject are typically written on a cash sale or merger basis, therefore market interest rates for the base period must be used to determine the capitalization rate. As of June 30 , 1992 the prime interest rate was 7% , including 1.5% for a conservative increase to market rates , yields an 8 .5 cost of funding. Typical loans written during this period on typical propertes were at a 70% loan to value ratio. This scenario yields a mortgage constant of .1166 assuming a 25 year amortization period at 11%. The equity dividend rate has been estimated at 10%. The Band of Investment Technique is developed as presented below: .70 (Mortgage Ratio) x . 0960 (Mortgage Constant) = .06720 .30 (Equity Ratio) x .06 (Equity Dividend Rate) _ .01800 Ad Valorem Taxes = .02000 Indicated Capitalization Rate = . 1052 Rounded To: 10 . 52% Due to the mill levy being 104 mills, the ad valorem must be added onto the capitalization rate calculation as it is not being deducted as an expense on the attached income approach. Q a0f92 EXHIBIT Pr- p_ 1a93g4 A ,„- c - B _ O - E _ HEAR INC DATE: JULY 29, 1993 TIME: 10:00 A.M. SUBJECT: WEST GREELEY NATIONAL BANK ADDRESS: 2600 WEST 10 STREET, GREELEY PIN#: 2129386 S:3QG;92 SUBJECT PROPERTY ; S ;I r - • • t' '4w"ntl#C•yd d°bw4a ra "' .�m nrs ,..l, GG fF iGj3 iIII F 1 g dry„, •yn• ] r 5 u;" 4 Pb$' ,,:�k,'•fn'• C`j�£s"tn" h lJ :'sY ISSil.u.a Ya�1 �. • .�41-YM me.�S• �a -3 mom • ; ° a ' �' °� '°' P' •i* i• n Y 1001 27TH AVE u1-• Iyr"v . r u n ir.k 3....,,.101%,/ a.l'i f;44. r•.,fee ri{} $c A + ,,„ta A' puiAi9C1 � e�A:"a%{„0,!-x-,?,,%-c-,,,,"1.....:,;«yyy''n i+!,d,,..n+ . w ��: + .q•,•. v x P . < iM.ak'- 1, ' - Sim k-5r v4r - n ar.• 4 ,r �FJ N "f±:641 n ITT` ," v 1 .. ( r . i=xrc2" t♦•. .„ ,.. ,:;,tyty.rit,.:,,AQ, .. ... . • *,: i. , *:,,,,,,, .. ... ,.(:„.!...tit . ..,.),..t *.: AiTh:.'24: :.21.7 '''''74"I( ly. ' ,yy, 4,• 1 • h .! *R }x Uf � T cif. it jiç bn � �^�' , t; r li,LA�,� ta• y'��.5} .� • r 9 ..•• .H'.s�`fi�. .:��w ,e n1 ,ikY \ +§ "-a.`��a. le��Jm" ,.[� .n� Y k�.f-xF.w^O4:"' r ///��/�� u '4'r 4"C. x` :411*: � a W ''n 0w3w it, 3 �.re 1 yryi %fl S .� ' f a ' • � • • /+ Lk. ti„&.w 'yj fg'v'p ..r 'wr„r.. 7:. y�,55 ��lflY � �� x �' 4 Hi' ' -fit ,4-;,;.„;.,,.:.,;.7,--;,:i * a .- • " .1:/,..1r,: G aar ip ;,` fra ;1 rttxwTwr'�'Y"Pk'+l S x w F. i' .rr q <-„.31---- ' ,. • ♦ ., - 02 1 �.. �� ( F F yH SY _ k • . O5/a ` A 1 '� . 3' . �j j. a; 4 , • 4 . p r 2?YYYWIFFr 434,7,4v. t vw z r t r • .-V r ,✓_.�tth ` .711 NH s.. +'�'_ z , ,/ .f( ✓•� 1�-•?V j C S irallr a r , rr'-. % Tyr � .,'} y� tMh p y.` y�K .i~ re dF."^.7"-flair `..4�.- • 5 .Y ,p .arw.-.._ 4-as fx ` a, � ✓' ' ,b °S.. s4 �3 vrr, x� o11 . "✓ I1i2 0 + • ,{� f ?!.r• i `9Z 110... � r' ��t. a �--r-,--t r a �.. k..ktss�� "� •' � :1'& r r x � � � grri t�T. � ' 2 + i/'1't 4,.* 4 Y .r♦x c M ri} *4.. .S , 4.,,,i; ) ,,M'"' I.�,v:- �Yr Y`.t Y M,i,ubh'%• lra gal 2 sfi 1�,� PIN: 2129386 PARCEL: 0959-12-1-04-003 PROPERTY OWNER: WEST GREELEY NATIONAL BANK ADDRESS: 1001 27 AVENUE, GREELEY OCCUPANCY: BANK QUALITY OF CONSTRUCTION: AVERAGE CONDITION: GOOD YEAR OF CONSTRUCTION: 1971 BANK AREA LEASABLE 4,315 RENT PER S.F. 12.00 POTENTIAL GROSS INCOME 51, 780 LESS VACANCY 0% EFFECTIVE GROSS INCOME 51,780 LESS EXPENSES 35% NET OPERATING INCOME 33,657 OVERALL CAP RATE . 115 ESTIMATE OF VALUE 292,670 TOTAL ESTIMATE OF VALUE 292,670 292,670/4,315 = $67.83 PSF TYPICAL LAND/BUILDING RATIO 1:4 BLDG SIZE 4315 SF X 4 = 17260 SF LAND NEEDED TOTAL LAND 81,783 SF LAND NEEDED - 17,260 64,523 SF 64,523 SF X 5.00 = 322,615 + CAPITALIZED VALUE 292,670 TOTAL EST. OF VALUE 615,285/LAND 81, 783 SF = $7.52 PSF 26-Mar-93 BANK SALES PRICE/ SALE SALE BLDG LAND L/B PRICE/ SF CONST COUNTY ADDRESS DATE PRICE YOC AREA AREA RATIO SF W/O LAND CLASS 1 BOULDER 1610 HOVER RD LONGMONT 12/17/91 $850,000 12,015 38265 3.18* 70.74 54.82 C 2 BOULDER 304 2 AV LYONS 1/8/90 $350,000 1983 2,570 31740 12.35 136.19 99.14 S 3 BOULDER 1930 N MAIN ST LONGMONT 1/15/89 $227,500 1976 2,305 25516 11.07 98.70 62.73 D 4 BOULDER 3033 IRIS AV BOULDER 6/28/88 $1,450,000 1976 11,248 91098 8.10 128.91 62.72 C 5 LARIMER 2525 N LINCOLN FT COLLNS 1/87 $214,900 1973 3,340 25700 7.69* 64.34 45.10 D 6 JEFFERSON 7575 W 44 AVE 8/25/89 $550,000 1973 6,625 23800 3.59* 83.02 68.65 C 7 ARAPAHOE 2305 S COLO BLVD 6/30/89 $640,000 1966 8,873 23400 2.64* 72.13 C 8 ARAPAHOE 5050 S FE➢ERAL BLVD 1/12/90 $1,124,900 1977 10,986 40442 3.68* 102.39 C 9 JEFFERSON 12340 W ALAMEDA PKWY 7/20/90 $1,321,000 1984 15,812 50835 3.21* 83.54 C 10 ARAPAHOE 5050 S BROADWAY 8/22/89 $870,900 1982 10,081 79275 7.86* 86.39 C 11 WELD 1041 MAIN WINDSOR 11/30/90 $492,000 1982 4,363 58370 13.38 112.77 86.01 D 12 WELD 1000 10 ST GREELEY 12/7/87 $1,575,000 1974 17,042 76000 4.46* 92.42 76.81 8 13 WELD 3690 W 10 ST GREELEY 10/28/85 $1,500,000 1981 11,094 142775 12.87 135.21 83.74 C 14 WELD 822 14 ST GREELEY 1/2/91 $625,000 1973 6,180 70785 11.45 101.13 68.77 D 15 WELD 1800 GREELEY MALL 12/12/88 $450,000 1973 6,530 44110 6.75* 68.91 62.16 C 16 WELD 213 1 ST EATON 7/31/91 $90,000 1926 2,080 2250 1.08* 43.27 41.10 C 17 ADAMS 112 HURON ST BRIGHTON 10/89 $909,300 1977 14,528 115062 7.92 62.59 42.79 C 18 ADAMS 8410 UMATILLA ST BRIGHTON 8/69 $746,800 1982 8,326 48858 5.67 89.69 73.53 C AVERAGES 4.41 91.11 67.44 *INCLUDED IN RATIO BANK LEASES BANK NAME & BLDG RENTAL LEASE ADDRESS AREA RATE START 1 CENTRAL BANE 11,094 14.71 NET 11/85 3690 W 10 ST GREELEY 2 UNION COLONY BANK 23,884 10.05 NET 7/86 1701 23 AV GREELEY 3 BANK OF WINDSOR 4,080 15.44 NET 5/85 1041 MAIN ST WINDSOR 4 NORLARCO BANK 4,588 17.00 GROSS UNK 2545 RESEARCH BLVD FT. COLLINS 5 NORWEST BANK 6,500 13.00 NET UNK 6500 JFE PARKWAY FT. COLLINS 6 FT. COLLINS 1ST IN 3,190 11.76 NET UNK 2701 S COLLEGE AV FT.COLLINS 7 VALLEY NAT'L BANK 7,744 13.11 NET ONE 1 VALLEY CENTER LOVELAND 8 NOR COLO S & L 3,200 7.31 NET 1986 3700 W 10 ST (CONVERTED FROM S & L GREELEY TO OFFICE) n,^;px:9n LAND SALE S LEGAL SALE DATE SALE PRICE SIZE PRICE/SF LOCATION SUBJECT: 095912104003 WEST GREELEY BANK, 2600 W 10 ST COMPARABLES: 81,783 095902400001 1 TACO BELL 3501 W 10 ST 12/8/92 752,500 62,742 11.99 GREELEY 096106324004 2 AUTO ZONE 2220 9 ST 06/20/90 285,000 39,962 7.13 GREELEY 095911124014 3 MINI MART 1001 39 AV 12/21/88 318,600 30,000 10.62 GREELEY 095912209017 4 DARE CO 1002 35 AV 09/3/85 207,000 16,512 12.54 GREELEY 095912104016 5 SOUTHLAND 2540 W 10 ST 04/17/84 225,000 22,500 10.00 GREELEY 095901415004 6 WESTWOOD BLDG 2627 W 10 ST 11/22/85 200,000 26,345 7.59 GREELEY GREELEY Pn`"°r° • Cod-,' -, • COLORADO •- f sTzAI =1 4 �" A �_ / 44 ?-�.._...M,;:;.. - "C•$1 ..C. y� III F.-RA,.,_,Lry: -t: : J%, , E _ y ,�._ :i':�`J iiiii •.,. .,.. • rampi ;-. ..t; b1;. �.r. -n� 1 W.'.,. ..LTv/: _ ce .<► ��...:!':.1,.-:1 it d b ci 1.:1::::...•,:,:::,..;:':",- �_,5 y��1 a ::.� • � � � 5b 1 i - .J..-;.::::::::,,,• ,,,:•.;..„.-;;..,:::.... . w.ah `•,.2 * $ ' • .� • ",�_ -r, inikrwr r•^.; •St11 ST, ,si 1'" ® +, • •�• BN SCNDOI .r. orlintillUIRRE -Bi I: 4 4 = 3 ▪ .'f`. .t 4 4 f piLso - ` 'g t ... xD 7R �+�7�k► r • C' .:R � � '�. 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J�f � - f �� ERf tei,•;i:•...4 6 a 1• E" ST E1 111 t.ii/�a>�P -'�-}�' %'.�.��'r i•:.``y � iUlH5 � � 1: - .. �i lir r r; ,..,.i . ▪ Y, _tour 9 $ 5 F 4 g �" . ► Aw'+: `.• • " ,., [rt[!(cicn• •s,x. ...�r .� 'b'[ � DO PL ��\it..N .r M f+: _ 5 `,�•,,, Y1.2ON..S��'.i%rjr .1•Y.� :_201 .w .. 3 �� ,i..H► RD S.:*zrr' S�s T> `•..r."'J. [ -�_ •��.Y w: •*:.• i- %r} _ "'� ^ - .�" 1=, •r ,2Wi 3T .rE..i ,. .�0� `�E' r,'J,4'1.;t�1 i i3,.J J 'r. .: y.S :r.`P. iS' 1 Si t IID {s; 0 ��',g �Jj L ,f r ri�.'•'tit�''."':Y �4 -`.- ?t � "f'. ``'� �': f. .:xr � r .. g Y ;..7,.....,,,,,I,....;,...., �:,,•- R.IW n .. e•.a .rt'.. `.� ' ,744 . st ..i' ? rt, _IIDNiDRf .w.tit•2-,:' - M-{` '.. ..--,-_,L1,---3---"'",4- ,. 9 `Y� .5i 4�.2 t•SdppL. 2•:;,.gf;.ti,-i..:{• , III _• r. s - ■ N(rNl�lP 2M pp_::c.y . �i'h'_•%`';•r 1► •j y •' .. f .s rc�..,. Cr✓Y.N-µi�. ''Nj >:..-i:+ S '!1 ' G ^�� •.• ti nr 5 t �yi .° 1VFS7 :c?x..' .....3.24:" ! -..-, •.6• , ..45.1T7'- 2'14s;• �w `- D L...._ e2"N.<sr.: s: ;S% .0 � '_`: • .y, yl GREELEY WEST 4. .� ,•;;n' .; :ipso #` " ` ." ^..•:.2 At" - .. .,‘...c,/,‘Re"./72 ti..f•.4. '' '' .C::11 ' :7:7;..MS7147.1SCHP9.1':,-..:'''''• if - kl2A-4-v-°:.14‘ :"‘ ....**-'4./.'' ' •▪ T. !?C sr 65-:,it '- O,6-0,407:4.,3:11.:-.14- u g� w' + ^ 14, .,, Itt; ;:. st; �` , , t . r t . F 2._ i�` 1C... 1••••:%.'•.�' • ,• `� 26 .a'.:y .₹• JA•• i !":. i W.27N n JW.'. `�r ' -. 115.. ;CI. • • ,�.•�»4`-::;:14.:,,-r:.; •-•:".•....! .4 .■ 20Df ...4 yp -•SCHOOL •'S�,l A b`Y.'r-;'Kv::i •••� .`..h'.'i�,-.•"•S Ysi•`/, _ Y ABA N �2SN • J .Jn :l " a.s S?.. f � 1 :-;I.,_4 t.:w•"::i:''•d� ro..g 2 '!.. ...:-- i `� ., - J:� :. ..n ytl� .,' '".'.`•. C fir. ,�'�'- +� i« f. _ai o W ,q :M�` l` • a.c=;7`.j-`r srSY ��e,4t1i -•s . .., r ® ^'J ti �� ;s.•i.r�.'n::: - h- � • •SJ!� �;_s� > �W�6wy,�T� , +•i �,,,, ✓tl. � ,. '7 I ,j .. H • ..'2081:fi�.�-fix �:?k H � 1 { :e;4'.y� I i1 oi'KFFg�:�'ST.�' a LEYON41SORSC�e0. ,411.?,:::,,/' • '-.BE.f'*Wi•, 1e •1 r s�7,•4-`J1k •.•.t•2BM :fi-•ZIT"1 'f:;Ff. : <f,f'' .,r.• /-y .4. C[uC7FRY ..� "''R i•�.'�•,• ,1 J.'�' .' i J f ,'ri~,; +Fa,*''' Y •.•C,�✓ �• �., yf} '7iN� •ry �-' '..C•.,;._.:- .. i.:..•-_ ,.yC[l•,X,t'.,;rr.• 4 �7'wi .-ya •:•. `� ST C'Q. 3' _:•3 'p. _. .2 1 >s.,yr:l •? 0r5g7, F'; , i COMPARABLE SALE 209 # :u S' , i 4. a � �. ', F ,' { T�e ? .tea_-,..... y ' j .K .nvr.a. .1 -4 A 4 p f✓i•l' '�°•'�M1�'T,.w'�ffa ° � rS"u Yi ��r : .:�i � aY �! PIN: 0071688 PARCEL #: 96105333008 OCCUPANCY: BANK ADDRESS: 1000 10 ST GREELEY PROJECT: 0 BOOK #: 1179 SALE DATE: 12/07/87 RECEPTION # : 2123804 SALE PRICE: $1,575 ,000 ADJ SALE PRICE: GRANTOR: UNITED BANK OF GREELEY GRANTEE: CITY OF GREELEY YEAR BLT: 1974 LAND/BLDG RATIO: 4.46 BLDG SIZE: 17 ,042 IMPS PRICE/PSF: $76 .81 CLASS C SALE PRICE/PSF: $92.42 CONSTRUCTION-QUAL: GOOD CASH DOWN: $1 , 575 ,000 WALL HEIGHT: 20 LOAN: 0 STORIES 2 INTEREST RATE: 0 . 0% !6 BSMT SIZE: 9503 LOAN TERM (YRS) : 0 LAND SIZE: 76000 POINTS PAID: 0 LAND VALUE: 266000 BY WHOM: 0 REMARKS: BLDG WAS BANK NOW CITY COMPLEX. SALE DID NOT INCLUDE DRIVE-UP BANK FACILITIES p:3O 92 EXHIBIT 13 I All 3,_Hants I lie. rr PIN) 3s5)"17 , COMPARABLE SALE ti3&-F536 f 208 J' St,fic8(o i a3uS a34, yxt-s3s G a81 ocis4° �. 3 r,r 3o/ 4y & � . -2)a43Cb - fl. .. 4r- s " -" + ..•...tea '..+ i y n Jr S' _.,dd -f '. w ..• 'rim 47-t••• -t �q --4* s x�f sr; x'1 1 y _ S �� ^[S'y1'f Y `, hYJ "4�T'� if" j. ggp `, ' :_,,5.- 1.4•sA.l -iL 3r Ti - P PIN: 1448686 PARCEL #: 80720115029 OCCUPANCY: BANK ADDRESS: 1041 W MAIN ST WINDSOR PROJECT: 0 BOOK #: 1283 SALE DATE: 11/30/90 RECEPTION #: 2234556 SALE PRICE: $492 , 000 ADJ SALE PRICE: GRANTOR: BANK OF WINDSOR INVESTMENT GRANTEE: BANK OF WINDSOR YEAR BLT: 1982 LAND/BLDG RATIO: 13 . 38 BLDG SIZE: 4 , 363 IMPS PRICE/PSF: $86. 01 CLASS: D SALE PRICE/PSF: $112 . 77 CONSTRUCTION-QUAL: GOOD CASH DOWN: $492 , 000 WALL HEIGHT: 14 LOAN: 0 STORIES: 1 INTEREST RATE: 0. 0% BSMT SIZE: 0 LOAN TERM (YRS) : 0 LAND SIZE: 58370 POINTS PAID: 0 LAND VALUE: 116740 BY WHOM: 0 REMARKS: PREVIOUS SALE 5/85 $400,000 rt 304193 COMPARABLE SALE 1011 _ f ��. ° t Yis r T t• r' 1 • r •• . olGreeleY iPf f-. - :a® I. , I a-3 �,.r5 u T° �,{s v^nsa'rc S � ifiJ°' -M1��1�fY'ice✓ j, } : i 1 of = su«_'. PIN: 0134291 PARCEL #: 961082210010 OCCUPANCY: BANK ADDRESS: 822 14 ST GREELEY SALE DATE: 01/02/91 SALE PRICE: $625,000 GRANTOR: BANK OF GREELEY GRANTEE: HOUSEL, JERRY ETAL CONSTRUCTION-QUAL: 0 PR/SF(IMPS) : $68 .77 BLDG SIZE: 6 ,180 PR/SQ FT: $101.13 YEAR ELT: 1973 LAND SIZE: 70,785 CLASS: C LAND VALUE: $200,000 WALL HEIGHT: 10 LAND/BLDG RATIO: 11 . 45 REMARKS: INCLUDES 4 BAY DRIVE UP AND STORAGE BLDG 16X16= 256SF APPRAISER VALUE $1,000 NET RENT $12.82 PSF 15 YEAR LEASE n Qc�g2 COMPARABLE SALE j 215 i r 9 I ( rIzkr,rijii, en e.r vim.•-ca __ C�'� 7 TT . .LL q n I ae.,r:�. t �• 5 PIN: 0085388 PARCEL # : 95911116023 OCCUPANCY: BANK ADDRESS: 3690 W 10 ST GREELEY PROJECT: 0 BOOK #: 1089 SALE DATE: 10/28/85 RECEPTION #: 2030143 SALE PRICE: $1 ,500,000 ADJ SALE PRICE: GRANTOR: CENTRAL BANCORP GRANTEE: HEIMICK RICHARD YEAR BLT: 1981 LAND/BLDG RA O: 12. 87 BLDG SIZE: 11,094 IMPS PRICE F: $83 .74 CLASS: C SALE PRICE/PSF: $135. 21 CONSTRUCTION-QUAL: AVG CASH DOWN: $0 WALL HEIGHT: 28 LOAN: 0 STORIES: 2 INTEREST RATE: 0. 0% BSMT SIZE: 5547 LOAN TERM (YRS) : 0 LAND SIZE: 142775 POINTS PAID: 0 LAND VALUE: 571000 BY WHOM: 0 REMARKS: 1 FLR BANK 5547 SF; 2ND FLR OFFICE 5547 SF BSMT BANK 5547 SF. CANOPY 1625 SF. BANK LEASE 14 .71 NET, OAR 10 .88% n- COMPARABLE SALE 1041 a x 9 � ' qr 14'i �p^ / l /?QdL Q,dur,;o«„t. A It Ii„ • L A c PIN: 0955786 PARCEL #: 70931319020 OCCUPANCY: OFFICE ADDRESS: 213 1 ST EATON SALE DATE: 07/31/91 SALE PRICE: $90 ,000 GRANTOR: BOWNESS, WM TRUST GRANTEE: COLO INDUSTRIAL BANK CONSTRUCTION-QUAL: 0 PR/SF(IMPS) : $23.73 BLDG SIZE: 3 ,660 PR/SQ FT: $24 . 60 YEAR BLT: 1926 LAND SIZE: 2, 250 CLASS: C LAND VALUE: $3 ,150 WALL HEIGHT: 14 LAND/BLDG RATIO: 0 . 61 BSMT SIZE: 1560 { REMARKS: BLDG INTERIOR REMODELED 1981. AT SALE NET ! LEASE $1, 000/MO($2.80 PSF) . 1 FLR 2080 SF + I BSMT OFFICE 1580 SF=3660 SF 970r,92 i g I > s COMPARABLE SALE I 183 ti ` i r ! zW 1� i II... '5 ! i I I 4 Caa.,> —..a— J i. "' '.c.,.* tJr•. titil,ff - -t; y - f ''6+1 Kr`'v x '.i^v+^'cuS',3t—w+r*z^ s' L?�tt- - �La-14,-.1=n-r.x ^ ,.. PIN: 3761286 PARCEL # : 96119200023 OCCUPANCY: BANK ADDRESS: GREELEY MALL 1800 GREELEY SALE DATE: 12/12/88 SALE PRICE: $450,000 GRANTOR: COLORADO NATIONAL PROPERTY SIZE: 6, 530 GRANTEE: FIRST NATIONAL BANK BLDGYEAR BLT: 1973 CONSTRUCTION-QUAL: AVG LASS: C PR/SF(IMPS) : $62.16 WALL CL 14 FT PR/SQ FT: $68.91 LAND SIZE: 44,110 LAND VALUE: $44 ,110 LAND/BLDG RATIO: 6.75 REMARKS: ! 30092 w - — a g Co 0 .: c, i s M : m C N M O C YC a N C i. Ot O Of N 40 Q Ve . y m. U E CO �: «Ns M en in 4fl N en �' o, %. cm.mma «• -8c E '` o,E;m U ° na -10 N N m N N$ V U+ .: TJ v m l— m m 0 Q t O D:m � � m G V ' ma' : L 0 N ll- " J-2 °'m O a M .: m m m c,'.,c], z a U .mc o f �O�) - E L11'.,..-;:: m ro �' • 05 a'. m O N Y O u`: m d } a, T. O ":5'-'.O t R m W m o m: amc m a v iii m Y " a s> v c +,w� y o w 0.-.^ 9- T m N 0 T m N 0 N a N CO , U O m 9, L E G : O -..a.AMIWE .5 V ' O O O u 4L V.r >, ro zv m a.,s. i's :: o a m a. 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Windsor approves Bancorp offer By JEFFREY JONES •_ .--- „ , Tribune Staff Writer �� '' '? WINDSOR—A Nebraska banking company has pur- t11S Offer W 1S attractive" chased the Bank of Windsor for an undisclosed amount, t0 US- I bank officials said this morning, , ariCl:Ollr"ShareYlOlC1eTS'have A statement released by Bank of Windsor officials said accepted it." bank stockholders voted Thursday night to accept a pur- I chase offer from Pinnacle Bancorp Inc.,which is based in —Niel ' 'an'az z Central City,Neb' Bank of-Windsor board chairman Pinnacle also owns the First Security Bank of Windsor. t Bank of Windsor board chairman Mel Ylarraz said it is a cash offer and does not involve any stock trades. o f several months. The bank was chartered in 1978 and has more than$22 Tom Prengeer,president of the First Security Bank,said million in assets. Pinnacle officials have not yet made decisions on the fate "In the present banking climate, we knew a healthy of the Bank of Windsor or its 14 full-time employees. bank... would receive offers. We've had four in the last "Right now...we have not made any decisions on what couple of months,"Ylarraz said in the statement."...This facilities we'll keep,"Prenger said."Hopefully in a week offer was attractive to us,and our shareholders have ac- (or) two weeks, we'll have something. I can't say what r cepted it." they're going to do.There's a long road to go before we Officials said regulatory approval for the sale is ex- even get to those decisions." t i 0 litir9r) Hello