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Home My WebLink About20242647.tiffRESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES FOR ACCOUNT NUMBER R5237408 - 4RIVERS PROPERTIES MEAD, LLC WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, were presented with a Petition for Abatement or Refund of Taxes for Account Number R5237408 at a duly and lawfully called regular meeting held on the 7th day of October, 2024, at which meeting there were present the following members: Chair Kevin D. Ross, and Commissioners Perry L. Buck, Mike Freeman, Scott K. James, and Lori Saine, and WHEREAS, notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County, with said Assessor, Brenda Dones, being present, and taxpayer, 4Rivers Properties Mead, LLC, being represented by Stevens and Associates Cost Reduction Specialists, Inc., not being present, and WHEREAS, the Board of County Commissioners has carefully considered the attached petition and is fully advised in relation thereto. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board concurs with the recommendation of the Assessor and the petition be, and hereby is, denied, and an abatement or refund be allowed as follows: CORRECTION TO ASSESSED VALUATION ABATEMENT OR REFUND TAX YEAR $1,051,630.00 $0.00 2023 ems• 1ITPL I ? L R >✓P Is CG : p 52 C.F3D (JM I D K ( i K 10172,124 crl- CK M> 2024-2647 AS0117 TAX ABATEMENT PETITION - 4RIVERS PROPERTIES MEAD, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 7th day of October, A.D., 2024. BOARD OF COUNTY COMMISSIONERS WELD COUNTY AL-E,R O ATTEST: C�.,.d 4AJ I.te: Weld County Clerk to the Board BY: . 00A t(kck Deputy Clerk to the Board AP OVED County ttorney Date of signature: o: Kevi ' ' oss, Chair (AYE) (AYE) Perry L. B 1 k, Pro-Tem Mik= Freeman K. James 257,1,A, ri Saine (AYE) (AYE) (NAY) 2024-2647 AS0117 PETITION FOR ABATEMENT OR REFUND OF TAXES County: Weld Date Received (Use Assessor's or Com Sec ton 1: Petitioner, please complete Section I only, Date: 03/20/2024 Month Day Year Petitioner's Name: 4RIVERS PROPERTIES MEAD LLC Petitioner's Mailing Address: 213 N Spruce St Ogallala NE City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERT,R E C E I V E D R5237408 4322 Highway 66 69153 APR 15 2024 WELD COUNTY ASSESSOR SEP 03 2024 Petitioner requests an abatement or refund,Qf the appropriate taxes and states that the taxes assessed agaWft#ie D COUNTY above property for the property tax year LU23 are incorrect for the following masons: (Briefly deb M8M l S S I O N E R S the taxes have been levied erroneously or illegally, whether due to erroneous valuation, irregularity in levying, clerical error, or overvaluation. Attach additional sheets if necessary.) THE ASSESSOR DID NOT PROPERLY CONSIDER THE COST, MARKET & INCOME APPROACH TO VALUE OR OTHER ASPECTS OF THE PROPERTY IN QUESTION. Petitioner's estimate of value: $ 2,640, 000 (2023) Value Year I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, has been prepared or examined by me, and to the best of my knowledge, information, and belief, is true, correct, and complete. Petitioner's Signature By Agent's Signs., Daytime Phone Number Email Daytime Phone Number (303 y 347-1878 Email infoI stevensandassoc.com "Letter of agency must be attached when petition is submitted by an agent If the Boerd of County Commissioners, pursuant to $ 39-10-114(1), C.R.S., or the Property Tax Administrator, pursuant to $ 39.2-116, C.R.5., denies the pelitbn for refund or abatement of taxes in whole or in art, the Petitioner may appeal to the Board of Assessment Appeals pursuant to the provisions of § 39-2.125, C.R.S., within thirty days of the entry of any such decision, § 39-10-114.5(1), C.R.S. Section ll: Assessor's Recommendation (For Assessor's Use Only) Tax Year 2023 to 1 eased Tox Original 53,799,685 ($3,769,685) $1,051,630 $108,265.31 $3,799,685 ($3,769,685) $1,051,630 9108,265.31 Corrected $0 Abate/Refund $0 $0 ❑ Assessor recommends approval as outlined above. ff the request for abatement is based upon the grounds of overvaluation, no abatement or refund of taxes shall be made if an objection or protest to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer, § 39-10-114{1)(a)(I)(D), C.R.S. Tax year: Protest? ❑ No ❑ Yes (If a protest was flied, please attach a copy of the NOD.) al Assessor recommends denial for the following reason(s): Value is supported by market sales and income. Assessor's or Deputy Assessor's Signature MOP,. No. 920-66/15 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section 111 Q Section IV must be completed) Every petition for abatement or refund filed pursuant to § 39-10-114, C.R S. shall be acted upon pursuant to the provisions of this section by the Board of County Commissioners or the Assessor, as appropriate, within six months of the date of filing such petition, § 39-1-113(1,7), C.R.S, section llt: Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to 510,000) The Commissioners of County authorize the Assessor by Resolution No. to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of $10,000 or less per tract, parcel, or lot of land or per schedule of personal property, a accordance with§39-1-113(1.5), C.R.S. The Assessor and Petitioner mutually agree to the values and tax abatement/refund of: Tax Year Assessed Original Corrected AbatelRefund TAK Note: The total tax amount does not include accrued interest, penalties, and fees associated with late andlor delinquent tax payments, if applicable Please contact the County Treasurer for full payment information. Petitioner's Signature Assessor's or Deputy Assessor's Signature Date Date Section IV: Decision of the County Commissioners (Must be completed if Section III does not apply) WHEREAS, the County Commissioners of County, State of Colorado, at a duly and lawfully called regular meeting held on / / , at which meeting there were present the following members: Month Day Year with notice of such meeting and an opportunity to be present having been given to the Petitioner and the Assessor of said County and Assessor (being present --not present) and Name Petitioner (being present --not present), and WHEREAS, the said Name County Commissioners have carefully considered the within petition, and are fully advised in relation thereto, NOW BE IT RESOLVED that the Board (agrees --does not agree) with the recommendation of the Assessor, and that the petition be (approved --approved in part --denied) with an abatement/refund as follows: Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners' Signature County Clerk and Ex -Officio Clerk of the Board of County Commissioners in and for the aforementioned county, do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Note: Abatements greater than $10,000 per schedule, per year, must be submitted in duplicate to the Property Tax Administrator for review. Section V: (For all abatements greater than 510,000) The action of the Board of County Commissioners, relative to this petition, is hereby ❑ Approved ❑ Approved in part $ ❑ Denied for the following reason(s): Action of the Property Tax Administrator Secretary's Signature Properly Tax Administrator's Signature Dale 15-DPT-AR No. 92041.15 STEVENS &ASSOCI[ATES SPECIALISTS IN PROPERTY SALES S USE TAX REDUCTIONS Property Tax Consultant - Agency Agreement Owner Address 924 11th St, Greeley, CO 80631 Property Address/Legal Description/Schedule # See Attached Exhibit A Consultant/Agent Stevens & Associates Cost Reduction Specialists, Inc I/We 4 RIVERS PROPERTIES ALBUQUERQUE, LLC, 4 RIVERS PROPERTIES BLOOMFIELD, LLC, 4 RIVERS PROPERTIES CHEYENNE, LLC, 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC, 4 RIVERS PROPERTIES EL PASO, LLC, 4 RIVERS PROPERTIES FARMINGTON, LLC, 4 RIVERS PROPERTIES FORT COLLINS, LLC, 4 RIVERS PROPERTIES FORT COLLINS, LLC FKA CM HOLDINGS FORT COLLINS LLC, 4 RIVERS PROPERTIES FREDERICK, LLC, 4 RIVERS PROPERTIES GREELEY II, LLC, 4 RIVERS PROPERTIES GREELEY, LLC, 4 RIVERS PROPERTIES HOBBS, LLC, 4 RIVERS PROPERTIES HOLLY, LLC, 4 RIVERS PROPERTIES LAMAR, LLC, 4 RIVERS PROPERTIES PUEBLO WEST, LLC, 4 RIVERS PROPERTIES ROCKY FORD, LLC, 4 RIVERS PROPERTIES STRASBURG, LLC, 4 RIVERS PROPERTIES MEAD LLC, subsidiaries, parent companies and all affiliated companies agree with Stevens & Associates Cost Reduction Specialists, Inc that for the property tax/sales and use tax assessment years 2023, 2024 and prior years, in Colorado as the property referred to above, that Stevens & Associates Cost Reduction Specialists, Inc is hereby engaged and authorized to act as agent and consultant before either the Board of Review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax/sales and use tax assessment years 2023, 2024 and prior years Please direct all correspondence and refunds to Stevens & Associates Cost Reduction Specialists, Inc The undersigned further authorizes Stevens & Associates Cost Reduction Specialists, Inc as agent of the undersigned, in the name of the undersigned, to execute and cause to be filed on behalf of the undersigned, in the name of the undersigned, any and all documents relating to an appeal of the said assessments, for the assessment years in question and prior years, before either the Board of Review as well as the State Tax Review Board or any hearings pertinent to the property Thus, done and executed on this 6 day of July 2022 Agreed By 4 RIVERS PROPERTIES ALBUQUERQUE, LLC,4 RIVERS PROPERTIES BLOOMFIELD, LLC,4 RIVERS PROPERTIES CHEYENNE, LLC,4 RIVERS PROPERTIES COLORADO SPRINGS, LLC,4 RIVERS PROPERTIES EL PASO, LLC,4 RIVERS PROPERTIES FARMINGTON, LLC,4 RIVERS PROPERTIES FORT COLLINS, LLC 4 RIVERS PROPERTIES FORT COLLINS, LLC FKA CM HOLDINGS FORT COLLINS LLC,4 RIVERS PROPERTIES FREDERICK, LLC,4 RIVERS PROPERTIES GREELEY II, LLC 4 RIVERS PROPERTIES GREELEY, LLC,4 RIVERS PROPERTIES HOBBS, LLC,4 RIVERS PROPERTIES HOLLY, LLC,4 RIVERS PROPERTIES LAMAR, LLC,4 RIVERS PROPERTIES PUEBLO WEST, LLC,4 RIVERS PROPERTIES ROCKY FORD, LLC,4 RIVERS PROPERTIES STRASBURG, LLC, 4 RIVERS PROPERTIES MEAD LLC By =noiholtz .„,. Larry Rutz Title CFO Please direct all correspondence/refunds to Stevens & Associates I Inc 10303 East Dry Creek Road, Ste 240 Englewood, Colorado 80112 ROBYN L DIETZENBACH Notary Public State of Colorado Notary ID M 20194001962 My Commission Expires 01 17 2023 (Notary column needs to be complete) STATE OF C -C u n Ci U The foregoing instrument was acknowledged before me This _(()___ day of Z.- ..\•4,,to2'Z By 1,aos Rutz Witness my hand and official seal my gommisyion expires, 1 1 1 1- 126 Z° NoL�ry P1l�lte ,, 0/4C — Notary na tire 1 STEVENS SOCIATES SPECIALISTS IN PROPERTY SALES E USE TAX REDUCTIONS Exhibit A Owner Name Address Assessor Parcel ID Account 4 RIVERS PROPERTIES STRASBURG, LLC 4225 Strasburg Rd Adams 01813-00-0-00- 184 R0081585 4 RIVERS PROPERTIES ALBUQUERQUE, LLC 2301 Candelana NE Bernalillo 061 00-00-026 00 101605911553221105 4 RIVERS PROPERTIES BLOOMFIELD, LLC Louisiana (Land) Bernahllo 2063173337116 R6000170 4 RIVERS PROPERTIES FARMINGTON, LLC 1100 Troy King Rd Bernahllo 2079172359280 R0028737 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC 1110 E Cheyenne Rd El Paso 64292-00-023 64292-00-023 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC 940 E Cheyenne Rd El Paso 64292-15-010 64292-15-010 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC E Cheyenne Rd (Land) - 64292-00- 024 El Paso 64292-00-024 64292-00-024 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC E Cheyenne Rd (Land) - 6429200025 El Paso 64292-00-025 64292-00-025 4 RIVERS PROPERTIES COLORADO SPRINGS, LLC 1803 S Prospect Ave El Paso 64292-00-055 64292-00-055 4 RIVERS PROPERTIES EL PASO, LLC 1441 RV Dr El Paso C98299900100100 657947 4 RIVERS PROPERTIES CHEYENNE, LLC 7917 Hutchins Dr _ _ Laramie County 14653130101000 R0010801 4 RIVERS PROPERTIES FORT COLLINS, LLC 125 John Deere Dr Larimer 8709400029 R0190071 4 RIVERS PROPERTIES FORT COLLINS, LLC 3801 Harvester Ct Larimer 8709425002 _ R1664443 4 RIVERS PROPERTIES FORT COLLINS, LLC 3802 Harvester Ct Larimer 8709425001 R1664442 4 RIVERS PROPERTIES FORT COLLINS, LLC FKA CM HOLDINGS FORT COLLINS LLC 121 John Deere Dr Larimer 8709400026 R0190055 4 RIVERS PROPERTIES HOBBS, LLC 2400 W Bender Blvd Lea 0204977 0204977 4 RIVERS PROPERTIES ROCKY FORD, LLC 29774 Hwy 71 Otero 444512200008 114864 4 RIVERS PROPERTIES HOLLY, LLC 50 Hwy 33957 Prowers 700054880-R 700054880-R 4 RIVERS PROPERTIES LAMAR, LLC 50 Hwy 08725 Prowers 900054850-R 900054850-R 4 RIVERS PROPERTIES PUEBLO WEST, LLC 685 E Enterprise Dr Pueblo 05-070-09-010 0507009010 4 RIVERS PROPERTIES FREDERICK, LLC 3763 Monarch St Weld 146703111003 R8928200 4 RIVERS PROPERTIES FREDERICK, LLC 3769 Monarch St Weld 146703111001 R8928000 4 RIVERS PROPERTIES FREDERICK, LLC 3763 Monarch St Weld 146703111002 R8928100 Page 2 of 3 (fitiSTEVENS &ASSOCIATES SPECIALISTS IN PROPERTY, SALES 6 USE TAX REDUCTIONS 4 RIVERS GREELEY PROPERTIES II, LLC 924 11th St Weld 096108204019 R0106692 4 RIVERS GREELEY, PROPERTIES LLC 240 5th St Weld 096105409008 R0167188 4 RIVERS GREELEY PROPERTIES LLC Vacant Land Weld 096105409007 R0167288 4 RIVERS GREELEY, PROPERTIES LLC 240 5th St Weld 096105401010 R8974558 4 RIVERS GREELEY, PROPERTIES LLC Vacant Land Weld 096105409001 R2837286 4 RIVERS GREELEY, PROPERTIES LLC Vacant Land Weld 096105409002 R2837386 4 RIVERS PROPERTIES LLC MEAD 4322 Highway g y 66 Weld 120726200023 85237408 Page 3 of 3 i Il S� NS &A, SOCIATES SPECIALISTS IN: PROPERTY, SALES S USE TAX REDUCTIONS 10303 East Dry Creek Road, Suite 240, Englewood, Colorado 80112 Limited Summary Consulting Assignment Weld County Board Owner: 4RIVERS PROPERTIES MEAD LLC Property Type: Industrial Property Address: 4322 Highway 66 Longmont, Colorado Schedule/Account #: R5237408 Parcel ID: 120726200023 Tax Year: 2023 Prepared By Stevens & Associates Assessment Date: January 1, 2023 Date of Value: June 30, 2022 Date of Report: February 2024 Summary of Important Facts and Conclusions Property Location Parcel Number: Schedule Number Land. Improvement Size: Year of Construction Highest and Best Use 4322 Highway 66 120726200023 R5237408 580,655 Square Feet 13.33 Acres 47,314 Gross Square Feet 1972 & 1976 For ad valorem tax purposes in Colorado the highest and best use of the subject is its current use. County Value: $3,799,685 $80 31 PSF Cost Approach• $2,641,113 $55.82 PSF Sales Comparison Approach• N/A PSF Income Approach: N/A PSF Reconciliation: $2,640,000 $55.80 PSF Date of Value: June 30, 2022 Stevens and Associates/Inc. MARSHALL & SWIFT VALUATION SERVICE CALCULATOR COST FORM 1. Subscriber making survey 2. Name of building 3. Located at 5 6 7 8 9 10 11 12 13 14 15 16 17 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. Todd Stevens 4322 Highway 66 SQUARE FOOT COSTS • Occupancy . . SECTION I SECTION It SECTION IV SECTION III Showrooms (303) as. C Quit. Avg Masonry No. 1 Ht. 16,434 Age. 51 Cond. Avg West Moderate 5129.00 Service (Repair) Garages (528) Cls. S Qual. Avg Metal No. 1 Ht. 16,000 Age 51 Cond. Avg West Moderate S62.50 Storage Warehouses (406) Os. S Qual. Avg Metal No.1 Ht. 12,000 Age. 47 Cond. Avg West Moderate S5050 Storage Warehouse (406) Cls. S Qual. Avg Metal No. 1 fit. 2,880 Age. 51 Cond. Avg West Moderate $50.50 . Building class and quality • Exterior wall . No. of stories & heiffit per stony . Aver". floor area . Average perimeter . Age and Condition •ion Climate Base Square Foot Costs SQUARE FOOT REFINEMENTS SECTION I SECTION II s SECTION III SECTION IV 1 Heating, cooling, ventilation $0.00 $0.00 50.00 $129.00 50.00 $0.00 50.00 S62.50 $0.00 $0.00 $0.00 S50.50 $0.00 $0.00 50.00 $50.50 Elevator deduction Miscellaneous Total lines 13 through 16 HEIGHT AND SIZE REFINEMENTS SECTION I SECTION II SECTION III SECTION IV Number of stories - multiplier 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Height per story • multipler (see Line 7) Floor aretajperimeter multiplier (fait Lines 8 and 9) Combined height and size multiplier (Units 18 x 19 x 20 FINAL CALCULATIONS SECTION I r SECTION II SECTION III SECTION IV Refined square foot costs (Une 17x21) $129.00 1.13 1.00 $145.77 16,434 $2,395,584 SO $2,395,584 40 75% $1,796,588 5598.896 r $62 50 1.12 0.99 $69.30 16,000 $1,108,800 50 $1,108,800 30 75% $831,600 $277,200 550.50 1.12 0.99 S55.99 12,000 $671,933 $0 $671,933 30 75% $503,950 5167,983 $50 50 1.12 0.99 $55.99 2,880 $161,264 $0 $161,264 30 75% 5120,948 540,315 Current Cost Multiepier Local multiplier Final sg. ft cost (Une 22 x Line 23 x Line 24) Area Line 25 x Line 26 Lump sums (Line 34) Replacement Cost (Line 27 + Line 28) Ufa Expectancy (Section 97) Depreciation % (Section 97) Depreciation amount (LNtt 29 x line 30) _ RCNLD (Line 29 - Line 31) 07/20 Cost Adjustment (_) $598,896 $277,200 S167983 $40,316 2020 IMPROVEMENT TOTAL 35. "ard Improvements • Land Value Total Cost Value Notes • #1,11.395 S1.169,040 Structures Yard Improvements Land Value 2022 Total Cost Value $1.084,395 $337,673 $1,169,040 $2,641,113 The subject property is a single tenant industrial warehouse property consisting of a showroom, service garage, and two storage warehouses. We relied on the Marshall and Swift valuation service in determining the above values. After total depreciation we have reconciled to a value of 52,641,113. II S SPECIALISTS IN PROPERTY, SALES & USE TAX REDUCTIONS 10303 East Dry Creek Road, Suite 240; Englewood, Colorado 80112 Dear Weld County Assessor at 140O N 17th Avenue, Greeley, CO 80631: Please sign, date, and return this document to Carla Quiroz Executive Assistant carla@stevensandassoc.com Fax: 3O3-347-9242 Direct: 720-500-1087 ©ENUM APR 152024 WELD COUNTY ASSESSOR in acceptance of the following 2023 Abatements: R4004706 141 Main Street TBK Bank R5237408 4322 Highway 66 21st Century Equipment LLC R6289486 12556 County Rd 2 1/2 Prestige Equipment R8964111 580 Main St TBK Bank R8971272 3772 Eureka Way 3772 Fred LLC R8971273 3778 Eureka Way 3772 Fred LLC R8971274 3784 Eureka Way 3772 Fred LLC Received by: Date: Stevens & Associates Cost Reduction Specialists, Inc. 10303 East Dry Creek Road, Suite 240, Englewood, CO 80112 (303) 347-1878 • Fax (303) 347-9242 8/26/2024 Attn Brenda Dones RE 2023 Abatement received 04/15/2024 R5237408 4 Rivers Properties Mead LLC 213 N Spruce St Ogallala, NE 69153 2023 Assessors Value $3,799,685 ($80 31/sf) SUBJECT The subject property is located at 4322 Highway 66, Mead, CO The subject property contains 580,655 square feet or 13 33 acres of land located next to Lyons 66 Pacific Commerce Park, the southeast corner of Hwy 66 and 1-25 8 acres of the land is valued as agricultural land The remaining 5 33 acres is being valued at the commercial land value The subject has 2 buildings built in 1972 and one has a 1976 addition The first building is of metal framed construction, average quality, typical condition and is 44,434 sf It is a showroom, storage warehouse, office and a restaurant The second building is 2,880 square feet of storage warehouse and is of metal framed construction, average quality and typical condition Abatement Request The subject is being appealed by Stevens & Associates The agent requested the value be lowered to $2,640,000 Description and analysis of what was provided The agent supplied a Marshall & Swift valuation service cost approach Leases for the subject were not provided Income for the subject has not been received but has been requested Cost Approach The cost approach was not developed due to the difficulty in accurately determining physical depreciation for commercial buildings built in 1972 Market Approach Market value is $4,500,000 ($95 11/sf) which includes consideration of commercial land, excess land, and improvements Market sales range from $76 99 - $148 00/sf e Comp 1 subject sold, 4322 Hwy 66, Mead, 47,314 sf for 2 buildings built in 1972 through 1976 on 13 33 acres, sold 10/26/2020 for $4,500,000 or $95 11/sf Comp 2 4333 Hwy 66, Mead, 56,090 sf industrial warehouse built in 1980 on 3 3 acres, sold 1/6/2022 for $4,318,100 or $76 99/sf Comp 3 10741 Hwy 52, Ft Lupton, 25,148 sf for 5 buildings built in 2002 through 2016 on 20 11 acres, sold 5/17/2021 for 3,650,000 or $145 14/sf Comp 4 7755 Miller Dr, Frederick, 43,919 sf industrial light warehouse built in 2002 on 3 535 acres, sold 7/6/2022 with contract date of 5/23/2022 for $6,500,000 or $148 00/sf Income Approach Market leases in the Weld County along 1-25 area range from $8 00 to $10 00/sf NNN Using a triple net lease of $8/sf, 5% vacancy, 5% management expense, 3% for reserves and a 6 5% CAP results in an indicated value of $5,090,000 or $107 58/sf Reconciliation and Summary After consideration of the market and income approaches to value, the market was given more weight, because of the sale of the subject The sales approach supported $4,500,000 The income supported $5,090,000 The Assessor's value of $3,799,685 is lower than the two approaches because eight acres of excess agricultural land is valued well below market value as required by statute, therefore, I recommend the Assessor's value be upheld for 2023 Sketch P 368 0 Asphalt 40432 0 sq ft 2400 98 Concrete 260 0 5043 0 sq fl 118 0' 0 82 0' .;120 Landscapm I 600' Space Heat 60 0' 184 0 Service Garage 16000 0 sq ft Beg #2 Year Butt 1972 WH 6 Radiant Heat sketch by 4pex NWin sT° 1750 Asphalt 36190 0 sq ft 70 0 Showroom Seq #1 Year Built 1972 16434 0 sq ft HVAC ParGRaom 5 0 o O220 i470�0 ry laoa 3 Concrete 450 0 sq ft 308 0 II 8 0' 160 0 Budding #1 Total Budding Area 44434 0 sq ft Asphalt 616000sq ft 160 0 9/4/24, 2 11 PM Property Report Weld County PROPERTY PORTAL Property Information (970) 400-3650 Technical Support (970) 400-4357 Account: R5237408 September 4, 2024 Account Information Account Parcel Space Account Type Tax Year Buildings Actual Value Assessed Value R5237408 120726200023 Commercial 2024 2 3,799,685 1,059,990 Legal PT NW4 26-3-68 PT LOTA REC EXEMPT RE -123 EXC BEG N4 COR SEC S89D06'W 1270 76' S0D05'E 40' TO TPOB TH S00D05'E 700 23' TH ALG CURVE TO L (R=331') CHORD=N18D03'E 209 81' N0D05'W 200' N03D06'E 100 32' N0D05'W 620 22' N44D30'E 49 85' TH N89D06'E 423 07'N0D05'W 45' S89D06'W 528 08' TO TPOB BEG N4 COR OF SEC SO 05E 120 01' TH S0D0556E 125' S3D0934'W 100 32' S0D0556'E 200' TH ALG CURVE TO R (R=331 00') (BNG=S18D0335'W) CHD=206 31' TH N0D0556'W 620 22' TH N89D0604'E 70 01' TO POB Subdivision Block Lot Land Economic Area MEAD SEKICH, VALLEY 66, LYONS 66 Property Address Property City Zip Section Township Range 4322 HIGHWAY 66 MEAD 26 03 r 68 Owner(s) Account Owner Name Address R5237408 21ST CENTURY LAND LLC 601 5TH AVE SCOTTSBLUFF, NE 693613581 https //propertyreport weld gov/'?account=85237408 1/9 9/4/24, 2:11 PM Property Report Document History I Reception Rec Date Type Grantor Grantee Doc Fee Sale Date Sale Price 06-10-1996 SPR SITE REVIEW PLAN SPR-258 0.00 NA 0 1633004 03-29-1974 RE RECORDED EXEMPTION RE -123 0.00 NA 0 1633004 03-29-1974 RE RE -123 RE -123 - 0.00 03-29-1974 0 4644816 10-28-2020 SWD LONGS PEAK EQUIPMENT PROPERTIES LLC 4 PROPERTIES MEAD RIVERS LLC 1 450.00 10-26-2020 i 4,500,000 4647460 11-03-2020 SURV SURVEY SURVEY 0.00 11-03-2020 0 4940572 01-19-2024 SWDN 4 PROPERTIES MEAD RIVERS LLC 21ST CENTURY LAND LLC 0.00 01-12-2024 0 *If the hyperlink for the reception number does not work, try a manual search in the Clerk and Recorder records. Use the Grantor or Grantee in your search. Building Information Building 1 AccountNo Building ID Occupancy R5237408 1 Retail ID Type NBHD Occupancy 0/0 Complete r Bedrooms Baths Rooms 1 Commercial 3923 Retail 100 ' 0 0 https://propertyreport.weld.gov/?account=R5237408 2/9 This snap is a user generated static output from an Internet mapping site and is for reference only. Data layers that appear on this map may or may not be accurate, current, or otherwise reliable. THIS MAP IS NOT TO BE USED FOR NAVIGATION Clerk to the Board Phone: (970) 400-4225 Fax: (970) 336-7233 1150 O Street P.O. Box 758 Greeley, Colorado 80632 www.weld.gov September 16, 2024 4RIVERS PROPERTIES MEAD, LLC 213 NORTH SPRUCE STREET OGALLALA, NE 69153 RE: Schedule Number R5237408 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 4322 State Highway 66, Longmont, Colorado 80504. The meeting is scheduled for Monday, October 7, 2024, at 9:00 a.m., in the Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County Administration Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631. The Assessor is recommending that the Board deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, particularly if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearin g If you have any questions concerning this matter, please do not hesitate to contact me at (970) 400-4217. Very truly yours, R 1.004 ty) Janet M. Warwick Deputy Clerk to the Board jwarwick@weld.gov Enclosures: Copy of Petition for Abatement of Refund of Taxes cc: Weld County Assessor Stevens and Associates Cost Reduction Specialists, Inc. Weld County Petition for Abatement or Refund of Taxes Certificate of Mailing First Name Last Name Company Address 1 City State Postal Code 4RIVERS OGALLALA NE 69153 213 NORTH PROPERTIES SPRUCE STREET MEAD, LLC TODD STEVENS STEVENS AND 10303 EAST DRY ENGLEWOOD CO 80112 CREEK ROAD, ASSOCIATES SUITE 240 COST REDUCTION SPECIALISTS, INC. I hereby certify that I have sent a notification of hearing date letter in accordance with the notification requirements of Weld County in the United States Mail, postage prepaid First Class Mail by letter as addressed on the attached list this 16th day of September, 2024. CI N N C] CI D O EJ 1 ru O ✓V, Uia,WThJL Janet M. Warwick___ Deputy Clerk to the Bc U.S. Postal Service"' CERTIFIED MAIL° RECEIPT Domestic Mail Only For delivery information, visit our website at www.usps.com. FF1C Certified Mail Fee Extra Services & Fees (check box, add fee as appropriate) ❑ Return Receipt (hardcopy) $ ❑ Return Receipt (electronic) ❑ Certified Mail Restricted Delivery ❑ Adult Signature Required • Adult Signature Restricted Delivery $ Postage s $ 4RIVERS PROPERTIES MEAD, LLC 213 NORTH SPRUCE STREET OGALLALA, NE 69153 lie Postmark Here COMPLETE THIS SECTION ON DELIVERY aD D N E a) a) 4J 0. O U ■ a) i a) > d) a) C O C)) co 0 a) E C 0 .C oe ■ c C3 .Q E a) "6 4-a RS O L al U) 0 Co ■ E 0 0 -E 2 u) I —0 2 in oz; ' � J 2 a) D 03 0 ) a� WO -0 >.-- U) = a) N a) D Q U_ t a 4RIVERS PROPERTIES MEAD, LLC 213 NORTH SPRUCE STREET OGALLALA, NE 69153 AnD a) e 1- 0 L > c* c c— UU0 T. O ro c N a) tncc O v o ii U Sn 5— U i N N ® cc ≥ET 13 > c 1O 0 c CD a a U U t 1 Q) a) (1) 0 O O 0000 ❑ O❑❑ 9590 9402 8258 3094 6632 59 I 2. Article Number (Transfer from service label) N N C1 a Er D CI a D 1'- cr 1 a Domestic Return Receipt PS Form 3811, July 2020 PSN 7530-02-000-9053 m P- P - CI U. II a a a D 1 a 1"\- .Gi U.S. Postal Service' CERTIFIED MAIL® RECEIPT Domestic Mail Only For delivery information. visit our website at www.usps.com . ay .r,-, 4.i Certified Mail Fee Extra Services & Fees (check box, add fee as appropriate) O Return Receipt (larrlcopy) $ o Return Receipt (electronic) ❑ Certified Mail Restricted Delivery ❑ Adult Signature Required $ ❑ Adult Signature Restricted Delivery $ Postage To' TODD STEVENS STEVENS AND ASSOCIATES -8/J COST REDUCTION SPECIALISTS, INC. 10303 EAST DRY CREEK ROAD, SUITE 240 ENGLEWOOD, CO 80112 cif te Postmark Here Instructions tft- aroaratis O COMPLETE THIS SECTION ON DELIVERY 0 W 0 U W co ate) a) 0 a) U) we o sic >1 O L C7 co 'd -0 Q) co co N - E c w as U C) o c _c ■ ■ U Q E -c 4-0 co O 13 U U) U Co Q ■ ui a scv a it O 9- O 0 v 4) O v 0 N a) abi 0 15 0 O U +- U O N cc 8_ ID_ ®tY .(15. T00 l"- a) > -5 -t mac( ODUU. ei ❑❑❑I 00 m� 0 0g�9 0 0 (1) T3 a) C/) 13 a) t Q TODD STEVENS w U O Q O Q z w H UI U z (fi UI Q W UI z O O O U 'Cr N H 0 O cc w w U CC d v� w O 0 E NG LEWOO D, CO 80112 flit • � . 9590 9402 8258 3094 6632 42 N a a 11 r1 r1 ru O Domestic Return Receipt LO C) I 0 0 0 0 CO LO �o >, CO CO a. Jan Warwick To: Cc: Subject: Good morning, Carla Quiroz Chloe White; b RE: (2023) - BOCC Notice for Hearing Your below request for administrative denial of your Petitions for Abatement or Refund of Taxes has been received. Per our procedures, the hearings will still be held, but the Board of County Commissioners will be alerted to your request and can then vote to deny the petitions. At which point, you will be noticed of your further appeal options. Sincere regards, Jan Warwick Deputy Clerk to the Board Weld County 1150 0 Street Greeley, CO 80631 tel: 970-400-4217 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended o nly for the person or entity to which it is addressed and may contain information that is privileged, confidential o r otherwise protected from disclosure. If you have received this communication in error, please immediately n otify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Carla Quiroz <Carla@stevensandassoc.com> Sent: Wednesday, September 25, 2024 10:22 AM To: Jan Warwick <jwarwick@weld.gov> Subject: (2023) - BOCC Notice for Hearing Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Hello Jan, We would like to kindly request an administrative denial to the following accounts that we received a 2023 BOCC notice of hearing for. 2023 - R5237408 1 2023 - R8971272 2023 - R8971273 2023 - R8971274 Please confirm receipt of this email. Best regards, �a 2thtay Carla Quiroz Executive Assistant Direct (720) 500-1087 Main (303) 347-1878 Fax (303) 347-9242 Email Carla@stevensandassoc.com STEVENS &ASSOCIATES SPECRAL1$TS lit PROPERTY. SALES S USE TAX REDUCTIONS 10303 £J..z Div its Rcmd. Suite 24€, Er * 'x4 Colon 36) X011: Visit our website at stevensandassoc.com The information contained in this electronic email and any accompanying attachment(s) is intended only for the use of the intended recipient and may be confidential and/or privileged. If you have received this communication in error. please immediately notify the sender by return email. and delete the original message and all copies from your system. 2 October 11, 2024 Clerk to the Board Phone: (970) 400-4225 Fax: (970) 336-7233 1150 O Street P.O. Box 758 Greeley, Colorado 80632 www.weld.gov 4RIVERS PROPERTIES MEAD LLC 213 N SPRUCE ST OGALLALA NE 69153 RE: Schedule Number R5237408 Dear Property Owner: On October 7, 2024, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to C.R.S. §39-2-125(f), you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals — Department of Local Affairs 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: (303) 864-7710 Email: dola_baa@state.co.us. In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index.htm. Very truly yours, . (Jam -ureic Janet M. Warwick Deputy Clerk to the Board jwarwick©weld.gov Enclosures: Resolution #2024-2647, Copy of Petition for Abatement of Refund of Taxes cc: Weld County Assessor Stevens and Associates Cost Reduction Specialists, Inc. Jan Warwick From: Sent: To: Cc: Subject: Attachments: Good afternoon, Jan Warwick Friday, October 11, 2024 3 20 PM 'Todd Stevens' Chloe White Tax Abatements, Decision Letters - 3772FRED, LLC - R8971272, R8971273, and R8971274, AND 4RIVERS PROPERTIES MEAD, LLC - R5237408 Letter - Decision R8971272, R8971273, R8971274 w attachments pdf, Letter - Decision R5237408 w attachments pdf On October 7, 2024, the Board of Weld County Commissioners considered your petitions for abatement or refund of taxes and denied same Please see the attached documents regarding your options to appeal this decision to the State Board of Assessment Appeals within thirty days A hard -copy is to follow If you have any questions or concerns, please do not hesitate to contact me Sincere regards, Jan Warwick Deputy Clerk to the Board Weld County 1150 O Street Greeley, CO 80631 tel 970-400-4217 Confidentiality Notice This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited Weld County Petition for Abatement or Refund of Taxes Certificate of Mailing First Name Last Name Company Address 1 City State Postal Code 4RIVERS 213 N SPRUCE ST OGALLALA NE 69153 PROPERTIES MEAD LLC TODD 10303 E DRY ENGLEWOOD CO 80112 STEVENS STEVENS AND CREEK RD ASSOCIATES COST REDUCTION SPECIALISTS INC STE 240 info@stevensandassoc.com I hereby certify that I have sent a Tax Abatement Petition decision letter in accordance with the notification requirements of Weld County in the United States Mail, postage prepaid First Class Mail by letter as addressed on the attached list this 11th day of October, 2024. U, ca U - Q"' S S S a Cr' rR ru 0 Janet M. Warwick Deputy Clerk to the' U.S. Postal Service"' CERTIFIED MAIL® RECEIPT Domestic Mail Only For delivery information, visit our website at www.usps.com • . SIC Certified Mail Fee Extra Services & Fees (check box, add fee as appropriate) ❑ Return Receipt (hardcopy) $ ❑ Return Receipt (electronic) ❑ Certified Mail Restricted Delivery ❑ Adult Signature Required $ • Adult Signature Restricted Delivery $ Postage lob Sen stye City fiemea Postmark Here 4RIVERS PROPERTIES MEAD LLC 213 N SPRUCE ST OGALLALA NE 69153 } c CD LC >, E E O tD 10 1O 1O .•••""-- ai -715 V �-) -cu:)` Di0 to N Cl) __C a� _mom . giUU ao o oa' . to .N E U t0 U Z a_ c 2 c U a.rrfcOcc2cnocc ❑❑❑ D DO a) e O '.4C) .: 0 ® o °' cc r— ctl c c 2 a 0 co co U 1O lo 65 a) a) (f) <c 00 ❑ 0 ❑ > > 00 O O U U Q) O U ❑ EL 0 a) a)0 .C� a o N . cu M U ce-' N -0 r R! _s_h cn 1— E E 4; C , a) i O O a E 0 co 0- co N. a 46 0 4-0 D O Co U Q ■ • a 2 u-i CC LIJ - 0 eC V) W cc N U eC z N rn l.fi cn LO z C Q Q 0 9590 9402 6113 0209 7529 87 U 0) O z LP. En t Q N U, 1.11 a 0 a a CI O O u a ru a r-- Domestic Return Receipt PS Form 3811, July 2015 PSN 7530-02-000-9053 U.S. Postal Service'M CERTIFIED MAIL® RECEIPT Domestic Mail Only For delivery information, visit our website at www.usps.com . Certified Mail Fee let Extra Services & Fees (check box, add fee A apprQprlate) L2Kleturn Receipt (hardcopy) $ '7 . lc" O Return Receipt (electronic) $ ❑ Certified Mail Restricted Delivery $ • Adult Signature Required $ ❑ Adult Signature Restricted Delivery $ Postage 4 ,q7 Total Postage and Fees q x $ Sent To seri1 es ( even 5.,a5l-,,en Street and pt. No., or PO Box No. I _ 1n_3o3.3__C___1?__ C� City, State, ZIP+4 75.1) Postmark Here �.S • 41'J PS Form 3x400 Januar 2023 PSN 75 +-02-000-3047 See Reverse for Instructions a) a) V1 CD 10 < a Do CD 0 NS 00 eceived by (Printed Na ag CO 8 22 2® ;S Qg CC a _ 2 2 O .o I-pn t'cc i u! 2 O 0 EE *- 000000 ❑ SD a) a2 2®°C' cc�2� � U (f5- � o �-v1 I ID O <<OOO (5❑❑❑❑❑ a U ae a) > a -'U 0 0 E o o -O o ` -�- as U Q. a ..= U tn -51 O a) Q a) " t - "J 0 7 0 O i 0 1E a) O 4-'.C a� r C -CCO O ta co0 Q O ■ ■ Article Addressed to: H O U w F— < Z o w z w Q Z 0 0 w O � U z H Ln Lal W z O U 0 [V H CC L CC 0 u-i G m a O 00 Lu 0 O O w 9590 9402 6113 0209 7530 07 2. Article Number (Transfer from service lab c t stricted Delivery U, ru N U- En L1 :tea. cc C m cc a) E 0 PS Form 3811, July 2015 PSN 7530-02-000-9053 Hello