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Home My WebLink About20211927.tiffCOUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number: R2966486 STIPULATION (As To Tax Year 2021 Actual Value) RE PETITION OF : NAME: New West Investments ADDRESS: 1909 9th St Greeley, CO Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2021 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: GR 2427 L17 THRU 24 BLK3 PACKARDS 2. The subject property is classified as commercial. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2021 : Total: $798,000 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year2021 actual value for the subject property: Total: $627,000 5. The valuation, as established above, shall be binding only with respect to tax year 2021. 6. Brief narrative as to why the reduction was made: After a review of the 3 approaches to value and adjustment was indicated. 7. Both parties agree that: The hearing scheduled before the Board of Equalization on 08/02/2021 at 10:00 am be vacated. [TA hearing has not yet been scheduled before the Board of Equalization. R2966486 1 Oc7, 1-I9D7 ASolo9 DATED this 13 day of July , 2021 . Dan George Dan George (July 2021 18:05 CDT) Petitioner(s) or Agent or Attorney Address: 1st Net Real Estate Services Inc. 3333 S. Wadsworth Blvd. Suite D -10f. Telephone: 17209625750 R2966486 qfotA,4t �, �- •( (Assistant) County Attorney. for Respondent, Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 County Deputy Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 R2966486 New West Investments Final Audit Report 2021-07-14 Created: 2021-07-13 By: SUE GUNDRY (sgundry@co.weld.co.us) Status: Signed • Transaction ID: CBJCHBCAABAAv2MhTAx2hgfP_uwESEcnZ58QPcqfPk6B "R2966486 New West Investments" History '5 Document created by SUE GUNDRY (sgundry@co.weld.co.us) 2021-07-13 - 4:42:06 PM GMT- IP address: 204.133.39.9 C'-. Document emailed to SUE GUNDRY (sgundry@co.weld.co.us) for approval 2021-07-13 - 4:42:08 PM GMT 6® Document approved by SUE GUNDRY (sgundry@co.weld.co.us) Approval Date: 2021-07-13 - 4:47:57 PM GMT - Time Source: server- IP address: 204.133.39.9 P.+ Document emailed to Jason Marini (jmarini@co.weld.co.us) for approval 2021-07-13 - 4:47:58 PM GMT '5 Email viewed by Jason Marini (jmarini@co.weld.co.us) 2021-07-13 - 5:48:16 PM GMT- IP address: 204.133.39.9 b© Document approved by Jason Marini (jmarini@co.weld.co.us) Approval Date: 2021-07-13 - 10:44:43 PM GMT - Time Source: server- IP address: 204.133.39.9 , Document emailed to Jason Marini (appeals@weldgov.com) for signature 2021-07-13 - 10:44:44 PM GMT t Email viewed by Jason Marini (appeals@weldgov.com) 2021-07-13 - 10:45:18 PM GMT- IP address: 204.133.39.9 6fl Document e -signed by Jason Marini (appeals@weldgov.com) Signature Date: 2021-07-13 - 10:45:52 PM GMT - Time Source: server- IP address: 204.133.39.9 E,, Document emailed to Dan George (dgeorge@1stnetre.com) for signature 2021-07-13 - 10:45:54 PM GMT ' Email viewed by Dan George (dgeorge@1stnetre.com) 2021-07-13 - 11:02:16 PM GMT- IP address: 173.14.13.241 aYERED 9r Adobe Sign 6o Document e -signed by Dan George (dgeorge@lstnetre.com) Signature Date: 2021-07-13 - 11:05:03 PM GMT - Time Source: server- IP address: 173.14.13.241 C'-. Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2021-07-13 - 11:05:05 PM GMT t Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2021-07-14 - 3:33:31 PM GMT- IP address: 204.133.39.9 6o Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2021-07-14 - 3:34:03 PM GMT - Time Source: server- IP address: 204.133.39.9 • Agreement completed. 2021-07-14 - 3:34:03 PM GMT M' REWBY Adobe Sign Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 NOTICE OF DETERMINATION RECEIVED JUL 1 2 2021 WELD COUNTY Date of Notice: 6/30/2021 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM - 5:00PM ACCOUNT NO, TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2966486 2021 0600 GR 2427 1909 9TH L17 ST THRU GREELEY 24 BLK3 PACKARDS _______ NEW 539 DALLAS, WEST W COMMERCE INVESTMENTS 75208-1953 ST STE INC 2750 TX PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE REVIEW PRIOR TO ACTUAL REVIEW VALUE AFTER COMMERCIAL 798,000 798,000 TOTAL 798,000 798,000 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: The Assessor staff has requested additional information to properly review your property's value. Because we have not received this information, we have no choice but tc deny any adjustments. 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. The deadline for filing real property appeals is July 15. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. Agent (If Applicable): 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 15-DPT-AR PR 207-08/13 R2966486 2021-1927 A c€ ira County Board of Equalization Hearings will be held from July 26th through August 5th at 1150 0 Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail, file online, or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 Online: www.co.weld.co.us/appsl/cboe/ To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 10, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.gov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, .sc 39-1-120(3), C.R.S. What is your estimate of the property's value as of June 30, 2020? (Your opinion of value in terms of a specjfig dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) 50 nog What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.),2 A, , .1,Adizil Lst_ alti adAw S1 ATTESTATION I, the ndersigned owner or agent1 of the property identified above, affirm that the statements contained herein an , on any attachdents hereto are true and complete. i I/ .',_-.1tC_ ` /:2_(' 5-1)(;12-57c6 7 7rZ/ Signature Telephone Number Email Addr�ss Otdejb. 17E: (en 'Attach letter of authorization signed by property owner. Date 15-DPT-AR PR 207-08/13 R2966486 ri �illtl�jls IA IttlEANINIANSIC ®DO®IIF'l� 8®I 1St Net Real Estate Services, Inc., 3333 S. Wadsworth Blvd. Ste 200 Lakewood, CO 80227, Phone 720-962-5750 - Fax 720-962-5760 LETTER OF AUTHORITY To Whom It May Concern I, Robert L Drabkin , the agent of the owner, of the following real and/or business personal property ADDRESS 105 Wadsworth Blvd 1909 9TH St PARCEL/SCHEDULE NUMBER COUNTY Schedule #300447856 Jefferson County Account # R2966486 Weld County I do hereby authorize 1st Net Real Estate Services, Inc to represent my interests and to appear on my behalf before County Assessor, County Board of Equalization, Board of County Commissioners, the Colorado Board of Assessment Appeals, binding arbitration, District Court, all Colorado state courts, and/or any other agency or entity with regard to any and all matter(s) concerning the valuation and taxation of the above mentioned property(s) for tax years 2021 and 2022 The undersigned requests that copies of all decisions from any of the above entities, or any other agency or entity, as is involved pertaining to matters of valuation and/or taxation for the above -mentioned property(s), be mailed to 1st Net Real Estate Services, Inc. 3333 S. Wadsworth Blvd. Suite 200 Lakewood, CO 80227 Phone: (720) 962-5750 Fax: (720) 962-5760 I hereby expressly revoke any and all previous authorizations relating to the Property(s) This authorization shall remain in effect until this authorization is terminated in a written instrument executed by the undersigned Dated this Owner RLD 105 Signature day of `(.)-71L 20 /J,13-l651LC T INVESTMENT INC /, Print Name —L.`r ( ` jC 3L , (,� _�i2-i��/"/' Title Address 539 W Commerce Street #2750 City, State, Zip Dallas, TX 75208 Phone # 303-888-5983 Fax # Managing Member STATE OF Ot>1aSG ) SS COUNTY OF -.3tii-c-f-tc7aN) Sworn to and subscribed before me this Pour I- lL 1 -OnsK44 !6' day of Witness my hand and official seal My Commission expires I-24 2-C 20 Z_l___by /t(//A94/117 Notary Public ✓ Address )_03.±(3_41,ru,,, i311/41A `J�� (Us L t, &,&IZ z7 GREG A POLGAR NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20214003784 MY COMMISSION EXPIRES JANUARY 28, 2025 New West Investments 1909, 1911, 1915 Greeley St Income Rentable SF 1909-1915 9th St Greeley Late Fees Total Actual Operating Revenue Expenses Insurance Taxes Repairs& Mamt Snow Removal Utilities - Water Sewer Bank Service Charge Commissions Bookeeping Accounting Other Legal Tax Consultant 11,473 SF Total Expenses Expenses PSF Net Income from Rental Real Estate Capitalization Rate 2020 Mill Levy Indicated Property Value 2021 Income indication 8 00% Effective Rate 0 0874 2020 County Value $ 798,000 2019 2020 $ 2,671 $ 2,732 $ 10,953 $ 15,314 $ 670 $ 8,651 $ 910 $ 795 $ 1,141 $ 1,265 $ 88 $ 33 $ 2,667 $ 2,054 $ 192 $ 113 $ 2,700 $ 1,800 $ 5,350 $ 8,024 $ 3,997 $ 8,700 $ 712 $ 32,051 $ 49,479 $ 279 $ 431 $ 566,202 2019 2020 $ 95,643 50 $ 76,479 00 $ 95,644 $ 76,479 $ 95,644 $ 76,479 $ 63,593 $ 27,000 8 00% 8 00% $ 794,907 $ 337,498 7:27 AM 06/26/21 Cash Basis New West Investments, Inc. Profit & Loss January through December Ordinary Income/Expense Income Rental Income 1909-1915 9th Street. Greeley Total Income Expense 1909-15 9th St. Greeley. CO Property & Casualty Insurance Property Taxes Repairs & Maintenance Snow Removal Utilities (Common Area) Electric - Water & Sewer Bank Service Charges Interest Expense Commissions Professional Fees Bookkeeping Accounting Other Legal Fees Total Professional Fees Taxes Tax Consultant Total Tax Consultant Total Expense Jan - Dec 19 95,643.50 95,643 50 95,643.50 2,671.33 10,952.52 670.00 910.00 1,141.27 88.00 2,667.00 192.35 2,700.00 5,349.60 3,997.00 711.91 32,050 98 ..an - Dec 20 76,479.00 76,479.00 76,479.00 2,732.00 15,3- 4.00 8,650.80 795.00 1,265.00 32.50 2.053.50 112.50 1,8D0.00 8,024.40 8,699.50 0.00 0.00 49,479.20 Net Income 63, 592.52 26,999.80 Page 1 of 1 RENT ROLL - As of 06/30/20 1909-15 9TH STREET GREELEY, CO PREMISES 1909 9th Street Unit A 1909 9th Street Unit B 1911 9th Street 1913-15 9th Street B4 TENANT Maryan Ali Barre dba Samafale Hall Store Norma Vallejo dba Llantera F4:13 Mario Velusquez dba Tienda Velusquesz J & C Professional Services $/SF ORIG (MOD. LEASE LEASE EXT. AREA % SHARE ANNUAL GROSS} MONTHLY START EXP. OPTIONS 1659 1864 3450 16,800 $ 10.13 $ 1,500 1/1/2017 11/30/2021 None 14,940 $ 8.02 $ 1,335 3/15/2013 2/28/2021 None 23,400 $ 6.78 $ 2,150 12/21/2018 10/31/2022 None 4500 39% $ 41,400 $ 9.20 $ 3,553 9/1/2018 Subtotal Base Rent 11473 100% $ 98,495 $ 8.58 NOTE Tenant went into default in April 2020, and paid a reduced rent of $2000/Month from April through June 2020. Lease was terminated by mutual agreement None effective July 17, 2020. LEASE RENT INCREASES TYPE 12/1/19: $1500; 12/1/20: $1500 3/1/20: $1335/Mo 2/1/20: $2150/Mo Modified Gross - Tena Modified Gross - Tena Modified Gross - Tena Modified Gross - Tena Mineral Le 36 Parking 5 6 11 14 36 Modified Gross - Tenant Reimbur: 3 1819-1825 9th St Greeley, CO 80631 Sale on 5/1/2019 for $425,000 ($50.18/SF) - Public Record 8,469 SF Retail Storefront Building Built in 1955 SOLD 4, N r Luther Park Lot %!!1 *2;2 :t 6th a 5I j0 d= Melo 4 2O2 Buyer & Seller Contact Info Recorded Buyer: Cookery International Inc 1864 Frontier Rd Greeley, CO 80634 Recorded Seller: Streit Bernard J Transaction Details ID: 4763371 Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: 05/01/2019 $425,000 $50.18 $29.57 Percent Leased: 100.0% Tenancy: Multi No. of Tenants: 3 Tenants at time of sale: Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed Land Value Assessed: Land Assessed/SF: Eldred Small Animal Hospital; Jalisco's Boutique; Moonlight Bridal Parcel No: 096106319002 Document No: 4485746 Expenses Retail - Storefront Built in 1955 Age: 64 8,469 SF 0.33 AC (14,375 SF) 84.2% $105,510 in 2018 $88,830 $16,680 $1.00 Income Expense Data - Taxes - Operating Expenses Total Expenses $14,345 $14,345 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 5/30/2021 Page 5 :1819-182 9th St 8,469 SF Retail Storefront Building Built in 1955 (con't) ,'` ' SOLD Current Retail Information ID 990751 Property Type Center Bldg Status Owner Type Zoning Owner Occupied Retail - Storefront Built in 1955 Individual No Rent/SF/Yr - CAM - Street Frontage Expenses Parking Features 97 feet on 9th St 146 feet on 19th Ave 2020 Tax @ $1 69/sf 12 free Surface Spaces are available Bus Line GLA Total Avail % Leased Bldg Vacant Land Area Lot Dimensions Building FAR No of Stores Location Information 8,469 SF 0 SF 1000% 0 SF 14,375 SF 0 59 Metro Market Submarket County CBSA CSA DMA Denver Greeley Ret/Greeley Ret Weld Greeley, CO Denver -Aurora, CO Denver, CO -WY -NE Copyrighted report licensed to 1st Net Real Estate Services - 89536 5/30/2021 Page 6 2504 6th Ave Garden City, CO 80631 Sale on 7/23/2020 for $460,000 ($52.73/SF) - Public Record 8,724 SF Retail Freestanding Building Built in 1949 SOLD (Ls 1 rag Buyer & Seller Contact Info -t Men dots 02021 Recorded Buyer: J & A Properties Llc Recorded Seller: Pettengill Stan A Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: No. of Tenants: Tenants at time of sale: Parcel No: Document No: 07/23/2020 $460,000 $52.73 $20.24 100.0% Multi 1 Tavern 096117406001 4611726 Transaction Details Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed Land Value Assessed: Land Assessed/SF: Retail - Freestanding Built in 1949 Age: 71 8,724 SF 0.52 AC (22,725 SF) 85.8% $94,110 in 2019 $80,700 $13,410 $0.00 ID: 5204009 Income Expense Data Expenses - Taxes - Operating Expenses Total Expenses $8,814 $8,814 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 5/30/2021 Page 1 2504 6th Ave SOLD 8,724 SF Retail Freestanding Building Built in 1949 (can't) Current Retail Information ID 8277232 Property Type Retail - Freestanding Center - Bldg Status Built in 1949 Owner Type - Zoning - Owner Occupied No Rent/SF/Yr CAM Street Frontage Property Mix Expenses Parking Features 151 feet on 6th 149 feet on 25th General Retail Multi -Family 2020 Tax @ $1 01/sf 8 free Surface Spaces are available Bus Line, Pylon Sign, Signage GLA Total Avail Leased Bldg Vacant Land Area Lot Dimensions Building FAR No of Stores (50 0%) 4,362 SF (50 0%) Location Information 8,724 SF 0 SF 100 0% 0 SF 22,725 SF 0 38 Metro Market Submarket County CBSA CSA DMA Denver Greeley Ret/Greeley Ret Weld Greeley, CO Denver -Aurora, CO Denver, CO -WY -NE Copyrighted report licensed 101st Net Real Estate Services 89536 5/30/2021 Page 2 11 922 37th St Evans, CO 80620 Sale on 10/27/2020 for $575,000 ($44.92/SF) - Public Record 12,800 SF Retail Freestanding Building Built in 1969 SOLD I L r J� tit 16th St :r 40.10 tth St j 36th ti, a. Q St f r 37th Si U r+ S4 0 id:: 1 t moor 1O2021 Buyer & Seller Contact Info Recorded Buyer: Dan Baker 922 37th St Evans, CO 80620 True Buyer: Buyer Broker: Cushman & Wakefield Aki Palmer (970) 267-7727 Recorded Seller: Bombay Palace Inc Bombay Palace Inc True Seller: Seller Type: Listing Broker: Bombay Palace Inc 11491 E Maplewood Ave Englewood, CO 80111 (303) 770-7032 Individual Cushman & Wakefield Aki Palmer (970) 267-7727 Transaction Details ID: 5285466 Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: 10/27/2020 (131 days on market) $575,000 $790,000 $44.92 $26.94 Percent Leased: - Tenancy: Single Parcel No: 096129206004 Document No: 4654160 Sale History: Sold on 3/22/2021 Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed Land Value Assessed: Land Assessed/SF: Sold for $575,000 ($44.92/SF) on 10/27/2020 Owner User Retail - Freestanding Built in 1969 Age: 5'1 12,800 SF 0.49 AC (21,344 SF) 75.0% $121,630 in 2019 $91,260 $30,370 $1.00 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 5/30/2021 Page 23 922 -37th St _ 12,800 SF Retail Freestanding Building Built in 1969 (cen't) SOLD Income Expense Data -' Expenses - Taxes - Operating Expenses $12,269 Total Expenses $12,269 r Current Retail Information ID 8394428 Property Type Retail - Freestanding GLA 12,800 SF Center - Total Avail 0 SF Bldg Status Built in 1969 % Leased 100 0% Owner Type - Bldg Vacant 0 SF Zoning US 85 Ret/Comm Neighbor Land Area 21,344 SF Owner Occupied No Lot Dimensions - Building FAR 0 60 Rent/SF/Yr - No of Stores - CAM - Street Frontage 138 feet on 37th St 172 feet on Denver St 198 feet on Us -85 Hwy Expenses 2020 Tax @ $0 96/sf Parking 30 free Surface Spaces are available Features Fenced Lot, Pylon Sign, Signage Location Information Metro Market Denver Submarket Greeley Ret/Greeley Ret County Weld CBSA Greeley, CO CSA Denver -Aurora, CO DMA Denver, CO -WY -NE Copyrighted report licensed to 1st Net Real Estate Services - 89536 5/30/2021 Page 24 10 2723 W 11th St Rd - Pike Building Greeley, CO 80634 Sale on 8/31/2018 for $325,000 ($45.77/SF) - Public Record 7,100 SF Retail Storefront Retail/Office Building Built in 1976 Buyer & Seller Contact Info Recorded Buyer: Vevest Ilc Buyer Broker: Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: No. of Tenants: Tenants at time of sale: Financing: Sale History: Brokers Guild Real Estate Steven Duong (303) 752-0007 08/31/2018 (197 days on market) $325,000 -Confirmed $375,000 $45.77 $13.09 Recorded Seller: Listing Broker: Transaction Details 1 Morton Therapeutic Massage Down payment of $325,000.00 (100.0%) SoOd for $325,000 ($45.77/SF) on 8/31/2018 SoOd for $495,000 ($69.72/SF) on 3/4/2016 So]d for $500,000 ($70.42/SF) on 5/28/2015 Expenses Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Income Expense Data - Taxes - Operating Expenses Total Expenses 1 2tr! cat Maurice a & Patty L Pike 7233 County Road 72 Windsor, CO 80550 Patty Pike The Group, Inc. Craig Hau (970) 229-0700 Owner User Retail - Storefront Retail/Office Built in 1976 Age: 42 7,100 SF 0.57 AC (24,829 SF) 5/30/2021 $10,929 Copyrighted report licensed to 1st Net Real Estate Services - 89`36. SOLD ID: 4500242 Page 21 "2723 W 11th St Rd -_Pike Building _ SOLD 7,100 SF Retail Storefront Retail/Office Building Built in 1976 (cori't) Current Retail Information ID 6444032 Property Type Center Bldg Status Owner Type Zoning Owner Occupied Retail - Storefront Retail/Office Pike Building Built in 1976 Individual Coml-High No Rent/SF/Yr Withheld _ CAM - Street Frontage Expenses Parking Features 70 feet on W 11th St Rd 2020 Tax @ $2 12/sf 20 free Surface Spaces are available Signage GLA Total Avail % Leased Bldg Vacant Land Area Lot Dimensions Building FAR No of Stores Location Information 7,100 SF 1,600 SF 77 5% 1,600 SF 24,829 SF 0 29 Metro Market Submarket County CBSA CSA DMA Denver Greeley Ret/Greeley Ret Weld Greeley, CO Denver -Aurora, CO Denver, CO -WY -NE Copyrighted report licensed 101st Net Real Estate Services 89536 5/30/2021 Page 22 Dan George To: Subject: Robert Drabkin RE 1909-15 9th Street Greeley CO, Attached Notice of Determination From: Robert Drabkin <rdrabkin@new-west net> Sent: Wednesday, July 7, 20212 31 PM To: Dan George <dgeorge@lstnetre com> Subject: RE 1909-15 9th Street Greeley CO, Attached Notice of Determination Dan • Phase I Completed 11/21/2019 • Phase II Completed 02/12/2020 e Mitigation Work Completed 03/09/2021 • Scope of Work Install Subslab vapor ventilation system, which is the same equipment used in a radon mitigation system Area addressed was the entire building floor slab (11,400 SF) Cost - $6995 00 Cost was included in the 2020 Repairs & Maintenance Expense provided you Robert Robert L Drabkm New West Investments Inc (303) 888-5983 rdrabktn(a�new-west net From: Dan George <dgeorge@lstnetre corn> Sent: Wednesday, July 7, 2021 11 04 AM To: Robert Drabkin <rdrabkin@new-west net> Subject: RE 1909-15 9th Street Greeley CO, Attached Notice of Determination Is the Environmental site assessment going to end up have additional cost to you for cleanup? When was the Phase I site Assessment done? How large of an area is contaminated? Dan George 1St Net Real Estate Services, Inc 720-962-5750 - Main 720-933-2366 - Cell From: Robert Drabkin <rdrabkin@new-west net> Sent: Wednesday, July 7, 2021 12 55 PM To: Dan George <dgeorge@lstnetre corn> Subject: RE 1909-15 9th Street Greeley CO, Attached Notice of Determination Thanks Next steps? 1 Prepared For NEW WEST INVESTMENTS INC. 5005 GALLERIA DRIVE,UNIT 3142 FARMERS BRANCH, TX 75244 (303) 888-5983 • vs PHASE II ENVIRONMEN'T'AL SITE ASSESSMENT 1909-1915 9th STREET GREELEY, CO 80631 Date Issued: February 12, 2020 NV5 Project Number: 202000027.KTF APEX Project Number: 1-0212.004.00 ala f '1 • Prepared By NV5 AND APEX CONSULTING SERVICES, INC, 55 LONGMONT DAM ROAD LYONS CO 80540 (303) 823-0132 /, Febtuaty 12, 2020 Mt Robert L Drabkin New West Investments Inc 5005 Gallet is !live, Unit 3142 Farmers Btanch, TX 75244 (303) 888-5983 - tdrabkin(. r new -west net Re: Phase II Environmental Site Assessment 1909-1915 96 Street, Greeley, CO 80631 Dear Mi Diabkin NV5 in conjunction with Apex Consulting Set vices, Inc (APEX) is pleased to provide the tesults of out Phase II Environmental Site Assessment at 1909-1915 9th Street in Greeley, Colotado (Property) The following teport details the field activities, methods, and findings of the assessment We appieciate the opportunity to provide environmental services for this project If you have any questions conceiving this report, or if we can assist you in any other matter, please call Sincetely, NV5 APEX CONSULTING SERVICES, INC Ken Feldman P G Director Lender Services Michael D Hattel, P G, R E A Pt incipal 55 Longmont Dam Road I Lyons CO 805401 www NV5 corn [ Office 303 823 0132 TRANSACTION SERVICES - INFRASTRUCTURE - ENERGY PROGRAM MANAGEMENT - ENVIRONMENTAL TABLE OF CONTENTS 1 0 INTRODUCTION 1 1 Pioperty Description 12 Background 2 0 FIELD ACTIVITIES 2 1 Utility Locates 2 2 Health & Safety Plan 2 3 Soil & Groundwater Sampling 2 4 Sub -slab An Quality Sampling 3 0 ANALYTICAL METHODS AND RESULTS 3 1 Analytical Methods 3 2 Analytical Results 4 0 SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 41 Summary 4.2 Conclusions 4 3 Recommendations 5 0 LIMITATIONS APPENDICES Appendix A Figures, Boling Logs and Table Appendix B Laboratory Analytical Report Appendix C Qualifications 1 I I 2 7_ 2 2 4 5 5 5 6 6 6 7 8 1 0 INTRODUCTION 1.1 Property Description NV5 and Apex Consulting Services, Inc (APEX) were retained by New West Investments Inc , to perfoim a Phase II Environmental Site Assessment (ESA) at the ptoperty located at 1909-1915 9th Stteet in Greeley Colotado (Property) The location of the Property is illustiated on a site map (Figure 1) which is included in Appendix A The Property is cutrently developed with a multi -tenant commetcial building cuitently occupied by a market store (1909 Unit A), a tiie shop (1909 Unit B), a metcantile stote (1911) and a hail dent tepau shop (1913-1915) The building is of CMU and steel flame construction with a flat, built-up toof, a concrete slab on glade foundation with sptead footings and isolated pad footings at column locations, and buck and CMU extetior walls The remainder of the property consists of asphalt pavement to the east and a small at ea to the north of the building, conctete flatwotk and limited landscaping 12 Background In Novembet 2019, Global Realty Services Group (GRS) prepared a Phase I ESA for 1909-1915 9th Street in Greeley, Colotado GRS noted that histotical tenants and opetations at the Property included auto tepait, fleet fueling, tetail stoles, a bakety and auto glass/auto accessory shops Auto/fleet truck tepait opetations were identified from approximately 1970 to 1990 The report noted that in 1990/1991, two underground storage tanks (UST) wete temoved from neat the northeast cornet of the building and associated Phase II investigations wete conducted to assess any impact from these tanks Subsequent to satisfactoty completion of this work, a No Further Action lettet was issued by the State of Colorado Division of Oil & Public Safety No concerns tequiting additional investigation were identified GRS identified the historic auto/fleet truck iepait opetations, and subsequent auto tepair operations and tecommended that a Phase II subsurface assessment should be conducted to evaluate potential subsut face impacts, if any PHASE II ENVIRONMENTAL SITE ASSESSMENT I PROJECT NO 202000027 KTF 2.0 FIELD ACTIVITIES 2 1 Utility Locates Pi tor to initiating the field activities (soil borings), the State of Colorado law tequues that, at least 48 hours pilot to the initiation of any subsurface work (dulling, backhoe operation, etc), a utility Inspection be performed at the Property This inspection consists of the mailing of underground utility locations by authorized utility locating personnel The utility inspection was performed prior to the probing activities commenced on January 23, 2020 2 2 Health & Safety Plan A project specific health and safety plan (H&S Plan) was developed and reviewed with the dolling subcontiactot (Remington Technologies) pi rot commencing with dulling activities The H&S Plan was tevtewed and signed by APEX and Remington Technologies Petsonnel pilot to dulling activities 2 3 Soil & Groundwater Sampling On Januaty 23, 2020, APEX subcontracted with Remington Technologies to provide and operate dulling equipment Remington Technologies, under the detection of APEX, advanced three (3) probe borings at the Property with a dnect-push, tuck -mounted Geopiobe rig (6620 DT) equipped with a foul -foot long stainless -steel dual tod system at the Property All dulling rods and/or sampling equipment were decontaminated between samples and/ot bot ings to prevent cross -contamination Boling PB- I was advanced east of the building neat the south gaiage door Boring PB-2 advanced neat the northeast comet of the building Boling PB-3 was advanced just south of the north adjacent alley and neat the northwest coiner of the building The boungs were advanced to terminal depths ranging fiom 18 to 20 feet below ground surface (BGS) Groundwater was piesent in the borings at appioxirnate depths of 15-16 BGS The locations of the piobe boi ings ate illustrated on Figure 2 which is included in Appendix A PHASE II ENVIRONMENTAL SITE ASSESSMENT ? PROJECT NO 202000027 KTF Sandy clay, and sand wete present in all of the probe botings Shale (bedrock) was encounteted at a depth of 18 feet in boring PB-3 Soil cotes wete continuously collected fiom the borings with a four -foot long stainless -steel duel rod system and disposable acetate sleeves Soil samples wete collected from each cote The cotes and soil samples collected from each boring wete field screened for the presence of staining, unusual odors and volatile organic compounds (VOCs) vapors with a photo -ionization detectot (PID) equipped with a 10 8 electwo-volt lamp Unusual odors, staining of VOCs were not present in the samples or cotes collected fiom the borings Soil samples wete collected fiom cotes fiorn each soil boring fiom above groundwatet or from areas where surface contamination would be expected Descriptions of encounteted soils, soil sample depths and VOC measurements ate illusttated on the boi ing logs that are Included in Appendix A Following the completion of probing, polyvinyl chloride (PVC) casing and factoty slotted scteen were placed in soil borings PB-1, PB-2 and PB-3. Groundwater samples were collected from the botings with a low flow pet istaltic pump Two (2), shallow hand augei botings were completed inside Unit 1909 B and fout shallow hand auget boi ings weie also completed inside Unit 1913-1915 Additionally, a shallow hand auget boring was completed outside and south of Unit 1913-1915 in the sidewalk and outside and east of Unit 1909 B The locations of the shallow botings ate illusttated on Figute 2 which is included in AppendixA APEX subcontracted a cot mg company to bole thiough the concrete at each location Soils were sampled utilizing a stainless -steel hand augei The hand auger was decontaminated between samples and/ot boi ings to prevent cross -contamination Bot ing PB-4 was completed in the sidewalk outside and south of Unit 1915 Boi ings PB-5 thiough PB-8 weie completed neat the floor drams located inside Unit 1913-1915 Boring PB-9 and PB-10 were completed neat the Hoot drains located inside unit 1909 Finally, boring PB-11 was completed along the outside eastern wall of the building adjacent to the garage door to Unit 1909 B The botings wete advanced to terminal depths iangtng fiom 3 8 to 5 5 feet below ground surface (BGS) The locations of all of the bottngs ate illustrated on Ftgute 2 which is included in Appendix A Pt -LASE II ENVIRONMENTAL SITE' ASSESSMENT 3 PROJECT NO 202000027 KTF Sandy clay was present in all of the shallow botings The soil samples collected from each boiing were field screened fot the presence of staining, unusual odots and volatile organic compounds (VOCs) vapors with a photo -ionization detectot (PID) equipped with a 10 8 electto-volt lamp Unusual odors, staining 01 VOCs were not present in any of the samples or coies Groundwater was not present in the borings Soil sample depths ate illustrated on the boiing logs that ate included in Appendix A 2.4 Sub -slab Air Quality Sampling Sub -slab au quality sampling was petfoimed neat foot drains inside Units 1909 B and 1913-1915 A 5 -foot long, 1 -inch diameter, polyvinyl chloride (PVC) soil vapor well was installed in the hand auget botings PB-5 and PB-10 The bottom 1 -foot of PVC consisted of 01 -inch screen Silica sand (glade 10/20) was placed around the screen and hydrated bentonite was placed on top of the sand to surface Nylon tubing was placed and sealed inside the well and extended to approximately 1 -foot above the foot A peristaltic pump was attached to the nylon tubing and was utilized to purge the sample point fot approximately 10 minutes (Photo 2 in Appendix A) Theteaftet, the peristaltic pump was utilized to collect a purged sub -slab an sample into a 1-litei Tedlat bag. rs Following completion of field activities, each boting was backfilled with the soil and bentonite chips (hydrated with deionized water) The surface at each boring was tesurfaced to match the surrounding at ea (concrete) PHASE [I ENVIRONMENTAL SITE ASSESSMENT 4 PROJECT NO 202000027 KTF 3 0 ANALYTICAL METHODS AND RESULTS 3.1 Analytical Methods The soil, gioundwatei and sub -slab an samples weie handled with clean, new, nitrite gloves and placed in labotatoty supplied sample containers and labeled The samples were immediately placed in a cooler on ice The samples were delivered under chain of custody to Summit Scientific in Golden, Colorado for analysis Each soil and groundwater sample were analyzed fot volatile oiganic (VOC) and gasoline range oiganic compounds (GRO) by EPA Method 8260 and total extractable petioleum hydrocarbons (TEPH) by Method 8015 The sub -slab air samples were analyzed for VOCs by EPA Method TO -15 3.2 Analytical Results No VOCs, GRO or TEPH compounds were detected in any of the soil of gioundwatei samples Several VOC compounds weie detected in each of the sub -slab au samples The labotatoty analytical report is included in Appendix B The detected VOCs ate illustrated on Table I included below and in Appendix A Compound PB 5 A PB-10 A Standard Isopropyl Alcohol 490 0 <12 0 None 2-Butanone 17 0 21 0 None Hexane 61 0 270 0 None Chloroform 250 0 90 0 0 533 Ethyl acetate 11 0 14 0 None Benzene 16 0 54 0 1 570 Cyclohexane 11 0 64 0 None Bromodtchloromethane 26 0 9 5 0 331 2 2 4 Tnmethylpentane 7 0 19 0 None Heptane 45 0 240 0 None Toluene 150 0 530 0 None 2-Hexanone 46 0 50 0 None Tetrachloroethene 1800 0 1400 0 47 200 Ethytbenzene 77 0 84 0 4 910 m p-Xylene 250 0 280 0 None o-Xylene 87 0 100 0 None 4-Ethyltoluene 40 0 54 0 None 1 3 5-Tnmethytbenzene 19 0 27 0 None 1 2 4-Trimelhylbenzene 60 0 77 0 None Standard = EPA Regional Screening Level Indoor Worker Ambient Air Table (TR=1E-06 HQ= 1) April 2019 All concentrations reported in nncrolrants per cubic meter(ul1m3) Samples Collected on January 23 2020 PHASE ii ENVIRONMENTAL SITE ASSESSMENT 5 PROJECT NO 202000027 KTF 4.0 SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 4.1 Summary On January 23, 2020, three (3) piobe botings (PB-1, PB-2 and PB-3) wete advanced to terminal depths tanging fiom 18 to 20 feet BGS at the Property. Groundwater was encounteted in the probe bottngs at a depth of approximately 15 to 16 feet BGS Additionally, eight (8) shallow hand auger botings (PB-4 thtough PB-1 I) wete advanced to terminal depths of 3 8 and 5 5 feet BGS Soil cores and samples collected from the botings were field screened for the presence of staining, unusual odors and VOC vapors with a PID No odots, staining of VOC vapors wete present in any of the cotes 01 samples Analytical tesults did not identify any VOCs, GRO or TEPH compounds in any of the soil of gtoundwater samples Sub -slab au quality sampling was petformed neat floor drains inside Units 1909 B and 1913-1915 Some VOC compounds were detected in each of the sub -slab au samples, including tetrachloroethene (PCE) at concentiations ranging from 1,400 to 1 800 micrograms pet cubic meter ug/M3) Other pettoleum VOC degradation compounds were detected at much lowet concenttattons 4.2 Conclusions Given the lack of any detected contaminant constituents in the soil 01 gioundwater samples, it is the opinion of NV5 and APEX that the elevated VOC constituents, patttculatly PCE, detected in the sub -slab vapor samples ate the result of small spills of solvents and automotive fluids that may have petmeated through the conctete floor slabs to the coatse fill material beneath the slabs and volatilized It is also possible that the identified constituents may be from off -site sources PHASE II ENVIRONMENTAL SITE ASSESSMENT 6 PROJECT NO 202000027 KTF $ , 4 There ate no regulatory guidelines in regards to contaminant constituents in soil vapor While the EPA has regulatory scteening levels for tndoot worket ambient au, indoor au concentrations can fluctuate extensively depending on source concentrations, soil factors, vapor pathways such as slab clacks and penetrations, au pressure differences, use of HVAC systems, open doois and weathet conditions Additionally, the use and storage of volatile materials, such as solvents fot cleaning and degreasing, and automotive fluids, in the tite shop and to a lesset extent the hail/dent shop, can produce tndoot an concentrations at much greater concentrations then those that would be anticipated due to vapor intrusion fiom under the building Given these vat tables, neither tndoot air sampling nor calculations to estimate the impact to indoor au aie considered accurate to assess vapor inttuston from under the building While a low probability of incidence, given the concentrations of PCE detected, it is possible that vapor intrusion iesulting in indoor air concentrations above the EPA scteening level could occut 4.3 Recommendations No additional actions of investigations ate required based on the identified VOC constituents in soil vapor It could be prudent to install a sub -slab depressurization system (similar to a radon mitigation system) in order to prevent the VOC vapors fiom enter mg the building This will also serve to mitigate the impact over time as the volatile compounds ate temoved fiom undet the building and vented to the atmosphere PHASE II ENVIRONMENTAL SITE ASSESSMENT 7 PROJECT NO 202000027 KTF 1st Net Real Estate Services Inc. 3333 S. Wadsworth Blvd. Ste. D105 Lakewood CO 80227 •••••••••••••••. ...... 7018 3090 DDDD 4839 9465 11NJTED STATES' POSTAL SERVICE a. Weld County Board of Equalization 1150OStreet PO Box 758 Greeley CO g0631 1023 80631 U.S. POSTAGE PAID FCM LG ENV DENVER; CO 80227 JUL08, 21 AMOUNT $9.05 R2307M152644-35 July 12, 2021 Petitioner: NEW WEST INVESTMENTS INC 539 W COMMERCE ST STE 2750 DALLAS, TX 75208-1953 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBS ITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2021-1927, AS0109 Appeal 2008230125 Hearing 8/2/2021 10:00 AM Account(s) Appealed: R2966486 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 2, 2021, at or about the hour of 10:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its 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, 2021, and mailed to you within five (5) business days. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 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. If you wish to discuss your value with the Assessor's Office, please call them at (970) 400-3650. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by emailing assessor@weldgov.com or sending a fax to (970) 304-6433. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. 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 LPLIs./o:yf G'i. Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Assessor July 12, 2021 Agent: 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Petitioner: NEW WEST INVESTMENTS INC 539 W COMMERCE ST STE 2750 DALLAS, TX 75208-1953 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2021-1927, AS0109 Appeal 2008230125 Hearing 8/2/2021 10:00 AM Account(s) Appealed: R2966486 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 2, 2021, at or about the hour of 10:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its 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, 2021, and mailed to you within five (5) business days. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 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. If you wish to discuss your value with the Assessor's Office, please call them at (970) 400-3650. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request to assessor@weldgov.com. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. 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 Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Assessor August 5, 2021 Petitioner: NEW WEST INVESTMENTS INC 539 W COMMERCE ST STE 2750 DALLAS, TX 75208-1953 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2021-1927 Appeal 2008230125 Hearing 8/5/2021 Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. §39-8-101 et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2021. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R2966486 Stipulated - Approved Stipulated Value $798,000 $627,000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2021, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2021, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall provide to the County Board of Equalization or to the Board of County Commissioners of the County in the case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subsection (5)(a)(I) of this paragraph (a) within ninety days after the appeal has been filed with the Board of Assessment Appeals. (b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) The primary method used by the county to determine the value of the subject property; and (B) The rates used by the county to determine the value of the subject property under the method identified in accordance with subsection (5)(b)(l)(A) of this section. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the County Attorney and shall be accompanied by a certification that the County Assessor or the County Board of Equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: (303) 864-7710 Email: baa@state.co.us Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado appellate review and C.R.S. §24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization within 30 days that you will pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fees may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor August 5, 2021 Agent: 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 Petitioner: CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldqov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 NEW WEST INVESTMENTS INC 539 W COMMERCE ST STE 2750 DALLAS, TX 75208-1953 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2021-1927 Appeal 2008230125 Hearing 8/5/2021 Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. §39-8-101et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2021. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R2966486 Stipulated - Approved Stipulated Value $798,000 $627,000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2021, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2021, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall provide to the county Board of Equalization or to the Board of County Commissioners of the County in the case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subsection (5)(a)(I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals. (b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) The primary method used by the county to determine the value of the subject property; and (B) The rates used by the county to determine the value of the subject property under the method identified in accordance with subsection (5)(b)(l)(A) of this section. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the County Attorney and shall be accompanied by a certification that the County Assessor or the County Board of Equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: (303) 864-7710 Email: baa@state.co.us Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado appellate review and C.R.S. §24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization within 30 days that you will pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor Hello