HomeMy WebLinkAbout20202099.tiffCOUNTY BOARD OF EQUALIZATION
WELD COUNTY
Single County Schedule Number R8955677
STIPULATION (As To Tax Year 2020 Actual Value)
RE PETITION OF :
NAME:
ADDRESS:
CWC Income Properties 6 LLC
3487 W 10th St
3489 W 10th St
Greeley
Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation
regarding the tax year 2020 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:
PT SW4SW4 1 5 66 COM SW COR SEC N372.01' N88D38'E 50.02' TO BEG
N88D38'E 146.11' TO PT ON CURVE (CHORD N63D33'E 38.5') N38D28'E
71.25' N81 D57'E 193.62' S426.69' S88D46'W 324.74' TH ALG CURVE TO
2. The subject property is classified as commercial property.
3. The County Assessor originally assigned the following actual value to the
subject property for the tax year 2020 :
Total $5,394,144
4. After further review and negotiation, Petitioner (s) and Weld County Assessor
agree to the following tax year 2020 actual value for the subject property:
Total $5,295,000
5. The valuation, as established above, shall be binding only with respect to tax
year 2020 .
6. Brief narrative as to why the reduction was made:
After a review of all approaches to value, an adjustment was indicated.
7. Both parties agree that:
The hearing scheduled before the Board of Equalization on 8/3/2020
at 1:30 PM be vacated.
nA hearing has not yet been scheduled before the Board of Equalization.
1
o'�do7O-(DO 99
DATED this 21st day of July , 2020 .
MARK VON ENGELN
MARK VON ENGELN;Jul 21, 2.020 13:54 MUTT,
Petitioner(s) or Agent or Attorney
Address:
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE
Telephone: 3038880863
Docket Number R8955677
Stip-1.Frm
(Assistant) County Attorney for
Respondent, Weld County Board of
Commissioners
Address:
1150 "0" Street
P.O. Box 758
Greeley, CO 80632
Telephone:(970) 336-7235
Chief Deputy
County Assessor
Address:
1400 N.17th Avenue
Greeley, CO 80631
Telephone: (970) 400-3650
2
R8955677 / CWC Income Properties 6 LLC
Final Audit Report
2020-07-21
Created: 2020-07-21
By: Wade Melies (wmelies@co.weld.co.us)
Status: Signed
Transaction ID: CBJCHBCAABAABBjFjTMxpfSWNKkfhZYw2HJ5kYTXaBz4
"R8955677 / CWC Income Properties 6 LLC" History
Document created by Wade Melies (wmelies@co.weld.co.us)
2020-07-21 - 5:10:09 PM GMT- IP address: 204.133.39.9
Document emailed to Wade Melies (wmelies@co.weld.co.us) for approval
2020-07-21 - 5:10:11 PM GMT
`", Document approved by Wade Melies (wmelies@co.weld.co.us)
Approval Date: 2020-07-21 - 5:16:12 PM GMT - Time Source: server- IP address: 204.133.39.9
a Document emailed to Wade Melies (wmelies@weldgov.com) for approval
2020-07-21 - 5:16:14 PM GMT
Email viewed by Wade Melies (wmelies@weldgov.com)
2020-07-21 - 5:17:02 PM GMT- IP address: 204.133.39.9
Document approved by Wade Melies (wmelies@weldgov.com)
Approval Date: 2020-07-21 - 5:17:41 PM GMT - Time Source: server- IP address: 204.133.39.9
Document emailed to Jason Marini (appeals@weldgov.com) for signature
2020-07-21 - 5:17:43 PM GMT
Email viewed by Jason Marini (appeals@weldgov.com)
2020-07-21 - 5:54:51 PM GMT- IP address: 204.133.39.9
Document e -signed by Jason Marini (appeals@weldgov.com)
Signature Date: 2020-07-21 - 5:56:25 PM GMT - Time Source: server- IP address: 204.133.39.9
Document emailed to MARK VON ENGELN (mark.vonengeln@assetra.com) for signature
2020-07-21 - 5:56:27 PM GMT
Email viewed by MARK VON ENGELN (mark.vonengeln@assetra.com)
2020-07-21 - 7:46:04 PM GMT- IP address: 70.57.4.97
wits
Adobe Sign
Document e -signed by MARK VON ENGELN (mark.vonengeln@assetra.com)
Signature Date: 2020-07-21 - 7:54:10 PM GMT - Time Source: server- IP address: 70.57.4.97
Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature
2020-07-21 - 7:54:11 PM GMT
Email viewed by Karin McDougal (weld-cboe@weldgov.com)
2020-07-21 - 8:04:35 PM GMT- IP address: 204.133.39.9
Document e -signed by Karin McDougal (weld-cboe@weldgov.com)
Signature Date: 2020-07-21 - 8:04:54 PM GMT - Time Source: server- IP address: 204.133.39.9
Signed document emailed to Jason Marini (appeals@weldgov.com), MARK VON ENGELN
(mark.vonengeln@assetra.com), Wade Melies (wmelies@co.weld.co.us), Karin McDougal (weld-
cboe@weldgov.com), and 2 more
2020-07-21 - 8:04:54 PM GMT
Adobe Sign
•
NOTICE OF DETERMINATION
COMMERCIAL
EXEMPT PROPERTIES
Brenda Dones
Weld County Assessor
1400 N 17th Ave
Greeley, CO 80631
RECEIVED
JUL 1 4 2020
WELD COUNTY
COMMISSIONERS
Date of Notice: 6/26/2020
Telephone: (970) 400-3650
Fax: (970) 304-6433
Office Hours: 8:00AM - 5:00PM
ACCOUNT NO.
R8955677
TAX YEAR
2020
TAX AREA
3399
O!
0
CWC INCOME PROPERTIES 6 LLC
11236 EL CAMINO REAL STE 200
SAN DIEGO, CA 92130-2647
LEGAL DESCRIPTION% -PHYSICAL LOCATIC
PT SW4SW4 1 5 66 COM SW COR SEC N372.01'
N88D38'E 50.02' TO BEG N88D38'E 146.11'
TO PT ON CURVE (CHORD N63D33'E 38.5') N
38D28'E 71.25' N81D57'E 193.62' S426.69'
S88D46'W 324.74' TH ALG CURVE TO RIGHT
(R=90' CHORD N45D36'W 128.63') N240.17'
3487 W 10TH ST GREELEY
ASSESSOR'S VALUATIG
ACTUAL VALUE PRIOR TO
REVIEW
ACTUAL VALUE AFTER
REVIEW
5,290,818
103,326
5,290,818
103,326
TOTAL
5,394,144
5,394,144
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:
CM06 - 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 to 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.
ABA Asset Realty Advisors, Inc.
Real Estate Services
5 Belleview Drive
Greenwood Village, CO 80121
Agent (If Applicable):
ASSET REALTY ADVISORS INC
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO 80121
W W W.ASSETRA.COM
Office (303) 781-2608
Cell (303) 888-0863
15-DPT-AR
PR 207-08/13
R8955677
MARK VON ENGELN
mark.vonengeln@assetra.com
2020-2099
ASO iotb
QPIG1NAL
mail Address
APP€ALPROCEDURES
County Board of Equalization Hearings will be held from
July 27t'' through August 3rd at 1150 O 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.ciov/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, § 39-1-120(3), C.R.S.
PETITION TO COUNTY BOARD OF EQUALIZATION
What is your estimate of the property's value as of June 30, 2018? (Your opinion of value in terms of a
spec. is II r rr}eatt is required for real property pursuant to § 39-8-106(1.5), C.R.S.)
What is the b `is 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.)
ATTESTATION
jgned or _ •ent' of the property identified above, affirm that the statements contained herein
ttach er -t• are true and complete.
g$$'ON 161z
Telephone Number Date
coorN
' Attach letter of authorization signed by property owner.
15-DPT-AR
PR 207-08/13
R8955677
ILE
REAL PROPERTY PROTEST PETITION
COUNTY: WELD
ADDRESS: 1400 N. 10TH AVENUE
GREELEY CO 80631
OWNER'S NAME AND ADDRESS:
CWC INCOME PROPERTIES 6, LLC
do TRS PROPERTY MANAGEMENT INC
PO BOX 461585
AURORA, CO 80046
copy
TAX YEAR: 2020
SCHEDULE #
ACOUNT # R8955677
NOTICE:
AGENT: ASSET REALTY ADVISORS, INC.
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO 80121
(o) 303-781-2608 (c) 303-888-0863
mark.vonengeln@assetra.com
LEGAL OR PROPERTY DESCRIPTION: 3487 W. 10TH STREET, GREELEY
PROPERTY PRIOR YEAR CURRENT YEAR REQUESTED
CLASSIFICATION ACTUAL VALUE ACTUAL VALUE VALUE
COMMERCIAL
LAND
IMPROVEMENT
TOTAL
5,394,144 5,394,144 4,433,911
DOCUMENTATION & REASON FOR REQUESTING A REVIEW:
THE PROPERTY WAS PARTIALLY LEASED IN 2017 WITH A NOI OF $127,780. THE NOI
WAS $199,526 FOR 6 MONTHS. THE ESTIMATED NOI FOR 12 MONTHS OF 2018 WAS
$390,052, WHEN CAPPED AT 9% THE ESTIMATED VALUE IS $4,433,911.
ATTACHMENTS: STATEMENT OF AGENCY, PROFIT LOSS STATEMENTS
I, MARK VON ENGELN CERTIFY THAT I MAILED TO THE WELD COUNTY ASSESSOR'S
OFFICE A COPY OF THIS PETITION ON MAY � 2020_
BY:
C:IDOCUMENTS/STOLTING110T" STREET 2020
STATEMENT OF AGENCY
Property Owner, CWC INCOME PROPERTIES 6, LLC AND TRS PROPERTY MANAGEMENT, INC. as
their managing agent, (hereinafter Property Owner), hereby appoints Asset Realty Advisors. Inc.
(hereinafter ARA) as Property Owner's representative in connection with the valuations for assessment of
Property Owner's real and personal property which are identified by entity and property tax schedule
number(s) ON EXHIBIT A in VARIOUS county(s) of Colorado for the year(s) 2019 AND 2020 for taxes
payable in 2020 AND 2021 and shall have full authority to review all applicable records relating to the
valuation for assessment of such property; to negotiate the valuation for assessment of such property with
the County Assessor, with any representative of the Assessor's office, or with the county, at an amount
which ARA deems appropriate in the circumstances; and to pursue any statutory remedies which client
may possess before the County Assessor, County Board of Equalization, Board of Assessment Appeals,
District Court, Appellate Courts, or in binding arbitration in the Property Owner's name and in Property
Owner's behalf and to hire and appoint an attorney of ARA's own choosing to represent the Property Owner
at any time when, in ARA's discretion, an attorney is needed.
THIS AGREEMENT SHALL REMAIN IN EFFECT UNTIL REVOKED IN WRITING BY PROPERTY
OWNER.
e°
Agent, Mark L. von E geln
Asset Realty Adviso , Inc.
5 E. Belleview Drive
Greenwood Village, CO 80121
303-781-2808
303-888-0863 (C)
STATE OF COLORADO
COUNTY OF
Thomas R. Stolting, M
TRS Property Manag
CWC Income Propert
PO Box 469585
Aurora. CO 80046
ging Agent of
nt, Inc. for
6 LLC
The foregoing agreement has been acknowledged before me this day of o` .'.?.,
2020, by (Property Owner) . r Nuotts (If by natural person or pardons. insert name(s); if by person acting as represents a or official capacity or
as attorney -in -fact, or other capacity or description; if by officer of a corporation, insert name of such
officer(s) as the president or other officer of such corporation, naming it). If acknowledgement is taken by
a Notary Public, the date of expiration f his seal shall also appear on the certificate.
Witness official
(Notary Public) r
My commission expires 4` k
ANAICOCUMENTSISTOLTINGLION
',NOTARY PUBUC
TATS OF COLORADO
WIg..DTARY ID 19004013004
EXHIBIT A
CWC INCOME PROPERTIES 6, LLC
PROPERTY NAME SCHEDULE # ADDRESS COUNTY
OWNER
Hover Center R0104630 1751 N. Hover Street Boulder
CWC Income Properties
6, LLC
Depot Hill Center R8868683 1000 Depot Hill Road Broomfield
CWC Income Properties
6, LLC
Depot Hill Center R8868684 1002 Depot Hill Road Broomfield
CWC Income Properties
6, LLC
10th Street Center R8955677 3487 W. 10th Street Weld
CWC Income Properties
6, LLC
ARAIDOCUMENTSISTOLTING13098
. WELD COUNTY ASSESSOR
BRENDA DONES
1400 N 17TH AVE
GREELEY, CO 80631
DATE: May 1, 2020
ACCOUNT NUMBER
R8955677
TAX YEAR
2020
2020 REAL PROPERTY NOTICE OF VALUATION
Phone: (970) 400-3650, Fax: (970) 304-6433 TAXPAYER COPY
Office Hours: 8:00 a.m. - 5:00 p.m. M -F
appeals@weldgov.com
www.weldgov.com
TAX AREA CODE
3399
P
R
ow
PN
EE
RR
Y
CWC INCOME PROPERTIES 6 LLC
11236 EL CAMINO REAL STE 200
SAN DIEGO CA 92130-2617
CLASSIFICATION
COMMERCIAL
EXEMPT PROPERTIES
TOTALS
PROPERTY DESCRIPTION (MAY NOT BE COMPLETE)
095901318023
3487 W 10TH ST GREELEY PT SW4SW4 1 5 66 COM SW COR
SEC N372.01' N88D38'E 50.02' TO BEG N88D38'E 146.11' TO PT
ON CURVE (CHORD N63D33'E 38.5) N 38D28'E 71.25' N81 D57'E
193.62' S426.69' S88D46'W 324.74' TH ALG CURVE TO RIGHT
PRIOR YEAR ACTUAL VALUE CURHLN L [EAR ACTUAL VALHI -
5,290,818
103,326
5,290,818
103,326
oR-CHANCE
0
0
5,394,144
5,394,144
0
THE PRIOR YEAR TAX ESTIMATE IS $134,100. THE CURRENT YEAR TAX ESTIMATE IS $134,100.
THIS RESULTS IN NO CHANGE IN TAX. THIS ESTIMATE IS BASED ON 2019 TAX RATES. YOU WILL RECEIVE A TAX BILL IN 2021.
The current year tax amount is merely an estimate based u on.the best information available. You have the right to protest the adjustment in
valuation, but not the estimate of taxes, 39-5-12 1(1.5). C.it,s: ;•:
PROPERTY CHARACTERISTICS
For specific property characteristic details, please see the Building Information and Valuation Information Tabs on your Property Report
at the following URL: www.co.weld.co.us/aoosl/proDertvoortal/.
PLEASE REFER TO THE BACK OF THIS FORM FOR GENERAL INFORMATION CONCERNING YOUR PROPERTY VALUATION AND YOUR APPEAL RIGHTS.
5904
CWC Income Properties 6, LLC
PROFIT AND LOSS
January - December 2018
TOTAL
Income
Rental Income
Rental Income - CAM Fees
Rental Income - Late Fees
Total Income
GROSS PROFIT
Expenses
CAM Related Expenses
CAM - Gas & Electricity
CAM - Landscape & Groundskeep
CAM - Lighting
CAM - Office Expense
CAM - Other
CAM - Parking Lot
CAM - Policing
CAM - Property Insurance
CAM - Property Management Fees
CAM - Property Taxes
CAM - Repairs & Maintenance
CAM - Roofing
CAM - Snow Removal
CAM - Trash
CAM - Water & Sewer
Total CAM Related Expenses
Owner Expense
Total Expenses
NET OPERATING INCOME
Other Income
Interest Income
Total Other Income
NET OTHER INCOME
NET INCOME
431,766.85
122,173.91
145.00
$554,085.76
$554,085.76
2,733.14
5,215.83
3,894.05
119.60
101.60
770.00
6,119.91
9,531.83
24,570.01
65,930.48
4,447.46
752.00
3,113.00
1,048.76
12,172.60
140,520.27
15,865.05
$156,385.32
$397,700.44
19.10
$19.10
$19.10
$397,719.54
Accrual Basis Tuesday, June 16, 2020 02:50 PM GMT -07:00 1/1
Greeley Dec Rent Roll
X/>,
12/26/18
IP6
• 1I
. .-ww..ww
�
'
1 . •
D
December
• . 1
Greeley'
Suite
Tenant '
Ex iration ;Rent Increases Late Terms
Base Rent
CAM
Total Due
:Amount Paid
Date Paid !Postmark Notes
1
2
-- --r-----
3483B
Advance Services, Inc.
'04/30/20 ;05/01/19 15th, 10%
$1,671.00
$509.56
..................��---------
$2,180.56
$2,180.56
....
12/03/18:
'
3485CDE
3489A
Hero DVO, LLC
1---------------------------
iBeauty Systems Group LLC _
........_.....,..{.,�.�...---...-...
' 12/31/20 - i
�...�..._.r
$10,065.00
..
11/30/18
$4,000.00
$14,065.01
$14,065.00
$2,773.03
._.._ ....._.p.._._.._..........._...........-------.�.��------------1
3
_
09/30/21 c-
5th, 10%
-
$2,115.17#
------�-M-- •---
$657.86
--- w�._.,,w..._
$2,773.03
12/03/18
4
3483C
Fancy Nails
07/31/25
08/01/19
5th, 10%
1782.00$0.00
$ ,
1 78 .0�
$ 2
$1,782.00
12/03/18
5
,----._.--s-..�
-
3489B
.__�...
_ .._ .-,r,w,.,�, _
Jackson Hewitt Tax Service j
_v_rr�r ...r._+- ee
05/31/19
-
5th, 10% J
$1,200.00
$392.04
$1,592.00
$1,592.00
11/30/18
6
w 7
3487G
3487O
w.r_vr___.►.rw._ v_ m.ti.fl....-WW..
Jon's Custom Creations Tattoo
Little Caesars Pizza #1491
r.-_ww-rrwr-rev_- vw_v_.v_..�v._-_
07/31/21 ;08/01/19
-.�v..•r_....._
5th, 10%
5th, 10%
$955.00
$1,553.25
-------re
$374.00
$535.001
$1,329.00
$2,088.25
$1,329.00
088.2
$2,088.25
12/06/18
11 /30/18
8 _
3
3489C
Department of Military and Vet
_
06/30/20
aaa Y -
07/01/19
$1,379.25
$0.00
$1,379.25
$1,379.25
12/05/18
9
3483DE
CSK Auto, Inc. ;11/30/22
-
$10,023.90
$1,750.00
__N.._...
$11,773.90
.. _-__-_.._�.
$__11,7__73.9.0_
_ ..-w.
12/04/18
10
11
3483A
34878
,-..I.Y.�
Panda Noodles House, Inc. ;
..
Planned Parenthood of the Roc
033120
03/31/20
.I.-__.._.�..I!_Y.I_.
04/01/19
.
4-
O -_^I -'-A..
5th, 10%
.A.. -Y__ -......_-V....l.--..
$1,553.00
$1,546.88
$523.00
$450.00
$2,076.00
$1,996.88
.e.-- .
$2,076.00`
$1,996.88
.F-_'�..wy�-. �..
12/03/18
12/07/18
I�..--�1....A...I..t..1I. I.. e.._-.. __.._.V.. -..I --•w
12
3487C
Soto Salon
09/30/26
10/01/19
5th, 10%
$1,031.00
$474.0_0$1,505.00
$1,505.00
12/17/18
$114.34 Atmos Energy reimbursement
due. Nov late fee: $150.50.
...13,--
14
3487F
3487A
Maria Diego Martin _ --_
Vacant
08/31/19 �. I-
ssa,
_
5th, 10%
$1,161.50
$433.50
$1,595.00
+
vacant
$1,595.00
- -- - --'
12/04/18
15
�------ �
3487E r
Suer Cellular, LLC '1,10/31/21 :11/01/19
P
5th $50/day 1
_ �
$1 178.66
$544.00
$1,722.66
$1,722.66 12/07/18
3
370,145.
Page 9
c
C Linconne Properties 6,
PROFIT AND LOSS BY CLASS
January - December 2017
Income
Rental Income
Rental Income - CAM Fees
`row Income
GROSS PROFIT
Expenses
CAM Related Expenses
CAM - Gas & Electricity
CAM - Landscape & Groundskeep
CAM - Office Expense
CAM - Parking Lot
CAM - Policing
CAM - Property Insurance
CAM - Property Management Fees
CAM - Property Taxes
CAM - Repairs & Maintenance
CAM - Snow Removal
CAW] - Trash
CAM - Water & Sewer
Tali CAM Related Expenses
Insurance
Owner Expense
Repairs & Maintenance
Total expenses
NET OPERATING INCOME
NET INCOME
GREELEY
HOVER
TOTAL
90,000.34
20,489.84
$110,490.18
$110,490.18
326.65
292.50
110.56
500.00
500.00
1,768.17
1,769.77
-47,892.15
725.00
274.00
472.37
-41,153.13
7,136.00
16,475.56
251.58
$ -17,289.99
$127,780.17
$127,780.17
17,959.62
4,916.66
$22,876.28
$22,876.28
1,050.00
155.72
830.17
-91,828.46
89.13
1,230.00
58.71
414.73
4,151.00
937.05
$ -83,326.68
$106,202.96
$106,202.96
$107,959.96
$25,406.50
$133,366.46
$133,366.46
$0.00
$326.65
$1,342.50
$266.28
$500.00
$500.00
$2,598.34
$1,769.77
$ -139,720.61
$89.13
$1,955.00
$274.00
$531.08
$ -129,567.86
$11,287.00
$17,412.61
$251.58
$ -100,616.67
$233,983.13
$233,983.13
Accrual Basis Wednesday, May 13, 2020 03:40 PM GMT -07:00
1/1
IP6
Greeley 1 Tenant
2
Advanced Services
Adventure Dental
Expiration
04/30/20
12/31/20
3 Beauty Systems Group (Sally Bear, 09/30/21
4 Fancy Nails 07/31/25
(Jackson Hewitt 05/31/19
-4
Greeley Dec Rent Roll
December
Rent Increase Rent+CAM
05/01/18 $2,114.56
$14;065.00
$2,773.03
08/01/18
$1,730.0
$1,592.0
$1,233.001 $1,233.00
51,945.001 $1,945.00
Jon's Custom Creations Tattoo
Little Caesars
07/31/21
08/01/18
01/31/23
Amount Paid
Date Paid
$2,114.56
$14,065.00
$2,773.03
12/01/17
11/22/17
Notes
$1,730.00
$1,592.00
12/12/17
12/05/17
12/18/17
02/01/18
Military & Veteran Affairs
O'Reilly Auto Parts
06/30/20
07/01/18
11/30/22
Panda Noodle
41 :Planned Parenthood
03/31/20 04/01/18
02/28/19
09/30/26 10/01/18
08/31/19 ;09/01/18
12/11/17
12/05/171
$1,400.0 $1,400.00 12/13/17:
$11,773.90 $11,773.90 12/12/17;
$2,032.001 $2,032.00
$1,996.88
.....................
$1,450.00
$1,539.50,
'Sozo Salon
13 Tippy Toes
14 'IA , '
5._
4-1
12/05/17;
$1,996.88 12/12/17
Late.
$1,539.00 12/07/17
$45,644.871 $44,194.37
Budget Comparison
For The Period Ending: December 2016
Books: Cash
West Greeley Associates, LLC dbaCentennial Commons (cent)
MTD MTD YTD YTD % Annua
Actual Budget Variance Variance Actual Budget Variance Variance Budg
INCOME
OPERATING INCOME
Prepayment- Revenue Rec'd Before 17,771.28 0.00 17,771.28 0.00 17,771.28 0.00 17,771.28 0.00 0.00
Chgs
Actual Rent 34,499.20 38,181.00 -3,681.80 -9.64 429,980.48 452,300.00 -22,319.52 -4.93 452,300.00
Less: Vacancies 0.00 -5,633.00 5,633.00 100.00 -46,946.65 -67,596.00 20,649.35 30.55 -67,596.00
Less: Bat! Debt W/O Rent 0.00 0.00 0.00 0.00 2,960.14 0.00 -2,960.14 0.00 0.00
CAMS Collected 11,011.29 8,987.00 2,024.29 22.52 110,003.56 107,844.00 2,159.56 2.00 107,844.00
TOTAL OPERATING INCOME 63,281.77 41,535.00 21,746.77 52.36 507,848.53 492,548.00 15,300.53 3.11 492,548.00
NON -OPERATING INCOME
Interest Income 3.43 130.00 -126.57 -97.36 4139 560.00 -518.61 -92.61 560.00
Late and NSF Fee 0.00 0.00 0.00 0.00 341.48 0.00 341.48 0.00 0.00
Late Pay -Interest 0.00 0.00 0.00 0.00 52.20 0.00 52.20 0.00 0.00
TOTAL NON-OPER. INCOME 3.43 130.00 -126.57 -97.36 435.07 560.00 -124.93 -22.31 560.00
TOTAL INCOME 63,285.20 41,665.00 21,620.20 51.89 508,283.60 493,108.00 15,175.60 3.08 493,108.00
OPERATING EXPENSES
RECOVERABLE EXPENSES
Property Administration:
Supplies 0.00 0.00 0.00 0.00 1,151.70 0.00 -1,151.70 0.00 0.00
Property Management Fees 3,361.90 1,627.00 -1,734.00 -106.58 19,461.16 19,237.00 -224.16 1.17 19,237.00
Total Property Administration 3,361.00 1,627.00 -1,734.00 -106.58 20,612.86 19,237.00 -1,375.86 7.15 19,237.00
Utilities:
Electricity
Gas
Water & Sewer
457.46 300.00 -157.46 -52.49 4,311.05 3,370.00 -941.05 27.92 3,370.00
21.39 0.00 -2139 0.00 21.39 0.00 -21.39 0.00 0.00
662.16 660.00 -2.16 -0.33 10,349.01 9,335.00 -1,014.01 10.86 9,335.00
Total Utilities 1,141.01 960.00 -181.01 -18.86 14,681.45 12,705.00 -1,976.45 15.56 12,705.00
Gen.IIaint./Contracted Labor 673.30 750.00 76.70 10.23 13,949.03 9,000.00 -4,949.03 54.99 9,00(100
HVAC Contract 0.00 0.00 0.00 0.00 295.00 0.00 -295.00 0.00 0.00
Janitorial Supplies 0.00 0.00 0.00 0.00 177.42 0.00 -177.42 0.00 0.00
Landscape Contract 0.00 0.00 0.00 0.00 3,335.72 4,000.00 664.28 -16.61 4,000.00
Landscape Irrigation Repair 0.00 0.00 0.00 0.00 914.87 300.00 -614.87 204.96 300.00
Landscape Other 86.50 0.00 -86.50 0.00 375.00 500.00 125.00 -25.00 500.00
Lighting Contract 0.00 0.00 0.00 0.00 905.93 0.00 -905.93 0.00 0.00
Occasion Decorating 0.00 170.00 170.00 100.00 0.00 170.00 170.00 -100.00 17(100
Sweeping -Parking Lot 0.00 480.00 480.00 100.00 4,920.00 5,760.00 840.00 -14.58 5,760.00
Snow Removal 318.39 1,000.00 681.61 68.16 5,505.89 12,000.00 6,494.11 -54.12 12,000.00
Trash Removal 150.00 75.00 -75.00 -100.00 1,145.00 900.00 -245.00 27.22 900.00
Total Service Expense
468.39 1,725.00 1,256.61 72.85 11,570.89 18,830.00 7,259.11 -38.55 18,830.00
Page : 1
Budget Comparison
For The Period Ending: December 2016
Books: Cash
West Greeley Associates, LLC dbaCentennial Commons (cent)
MTD MTD % YTD YTD
Actual Budget Variance Variance Actual Budget Variance
Variance
Annual)
Budg
Repair and Maintenance:
Electrical Repairs/Supplies 0.00 0.00 0.00 0.00 426.15 0.00 -426.15 0.00 0.00
HVAC Repairs/Supplies 0.00 0.00 0.00 0.00 2,822.96 0.00 -2,822.96 0.00 0.00
Light Bulbs / Fixtures 0.00 0.00 0.00 0.00 1,023.37 900.00 -123.37 13.71 900.00
Doorg and Locks 0.00 0.00 0.00 0.00 1,959.60 0.00 -1,959.60 0.00 0.00
Other Exterior Repairs 0.00 0.00 0.00 0.00 2,594.73 0.00 -2,594.73 0.00 0.00
Painting / Drywal8ng 0.00 0.00 0.00 0.00 0.00 2,000.00 2,000.00 -100.00 2,000.00
Parking Lot - Repair & Maint 0.00 0.00 0.00 0.00 6,000.00 6,000.00 0.00 0.00 6,000.00
Plumbing Repairs/Supplies 127.50 0.00 -127.50 0.00 690.34 0.00 -690.34 0.00 0.00
Roof Bepairs 0.00 0.00 0.00 0.00 4,172.71 3,600.00 -572.71 15.91 3,600.00
Total Repair and Maintenance 127.50 0.00 -127.50 0.00 19,689.86 12,500.00 -7,189.86 57.52 12,500.00
Taxes and Insurance:
Instrance
Taxes Real Estate
Total Taxes and Insurance
1,415.27 1,200.00 -215.27 -17.94 9,785.73 10,800.00 1,014.27 -9.39 10,800.00
4,653.00 4,653.00 0.00 0.00 74,226.73 55,836.00 -18,390.73 32.94 55,836.00
6,068.27 5,853.00 -215.27 -3.68 84,012.46 66,636.00 -17,376.46 26.08 66,636.00
TOTAL RECOVERABLE EXPENSES 11,925.97 10,915.00 -1,010.97 -9.26 170,520.49 143,708.00 -26,812.49 18.66 143,708.00
NON-RECQVERABLE EXPENSES
Property Administration:
Bank Charges
Legal Elk Accounting
Administrative Bonus
Asset Management Fee
Total Property Administration
Utilities:
Electricity
Gas
Total Utilities
Service Expense:
HVAC Contract
Total Service Expense
Repair and Maintenance:
HVAC Repairs/ Supplies
Other Exterior Repairs
Signage
Total Repair and Maintenance
0.00 0.00 0.00 0.00 20.02 0.00 -20.02 0.00 D.00
0.00 0.00 0.00 0.00 2,000.00 810.00 -1,190.00 146.91 810.00
1,500.00 0.00 -1,500.00 0.00 1,500.00 0.00 -1,500.00 0.00 0.00
1,200.00 1,200.00 0.00 0.00 14,400.00 14,400.00 0.00 0.00 14,400.00
2,700.00 1,200.00 -1,500.00 -125.00 17,920.02 15,210.00 -2,710.02 17.82 15,210.00
-50.71 350.00 400.71 114.49 2,155.99 3,500.00 1,344.01 -38.40 3,500.00
12834 300.00 171.66 57.22 2,641.79 2,725.00 83.21 -3.05 2,725.00
77.63 650.00 572.37 88.06 4,797.78 6,225.00 1,427.22 -22.93 6,225.00
0.00 0.00 0.00 0.00 588.00 0.00 -588.00 0.00 0.00
0.00 0.00 0.00 0.00 588.00 0.00 -588.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 18,000.00 18,000.00 -100.00 18,000.00
0.00 0.00 0.00 0.00 952.94 0.00 -952,94 0.00 0.00
0.00 0.00 0.00 0.00 215.57 0.00 -215.57 0.00 0.00
0.00 0.00 0.00 0.00 1,168.51 18,000.00 16,831.49 -93.51 18,000.00
Page : 2
Budget Comparison
For The Period Ending: December 2016
Books: Cash
West Greeley Associates, LLC dbaCentennial Commons (cent)
MTD MTD % YTD YTD % Annual
Actual Budget Variance Variance Actual Budget Variance Variance Budget
TOTAL NON -RECOVERABLE EXP. 2,777.63 1,850.00 -927.63 -50.14 24,474.31 39,435.00 14,960.69 -37.94 39,435.00
TOTAL OPERATING EXPENSES 14,703.60 12,765.00 -1,938.60 -15.19 194,994.80 183,143.00 -11,851.80 6.47 183,143.00
NET OPERATING INCOME 48,581.60 28,900.00 19,681.60 68.1( 313,288.80 09,965.00 3,323.80 1.07 309,965.00
NON -OPERATING EXPENSES
Lease Commissions
Tenant Finish
Owner Expenses
Tenant Finish
Total Owner Expenses
'Interest
1stitioetgage In ereiit
2nd • •: Interest
Line • ' edit InLre Est
0.00 0.00 0.00 0.00 10,666.70 3,900.00 -6,766.70 173.51 3,900.00
0.00 0.00 0.00 0.00 24,225.11 0.00 -24,225.11 0.00 0.00
0.00 0.00 0.00 0.00 2,124.15 0.00 -2,124.15 0.00 0.00
0.00 0.00 0.00 0.00 2,124.15 0.00 -2,124.15 0.00 0.00
2,98952
0.00
0.00
2,990.00
0.00
0.00
0.48
0.00
0.00
0.02
0.00
0.00
37,509.27
-125.40
551.69
37,149.00
0.00
0.00
-360.27
125.40
-551.69
0.97
0.00
0.00
37,149.00
0.00
0.00
Total Interest Expense 2,989.52 2,990.00 0.48 0.02 37,935.56 37,149.00 -786.56 2.12 37,149.00
TOTAL NON -OPERATING EXP. 2,989.52 2,990.00 0.48 0,024,951.52 1,049.00 -33,902.52 82.59 41,049.00
NET INCOME 45,592.08 25,910.00 19,682.08 75.' . 238,337.28 ,916.00 -30,578.72 -11.37 268,916.00
`
x38937 ,
g.1,24 g Ii?- 8"
Page : 3
Rent Roil
Centennial Commons Shopping Center
6 December 31, 2016
Potential Actual Est Rent Lease Lease
Unit Name Sqft Rent Rent CAMs SqFt Deposit From To
3483-A Panda Noodles House 1,758 952.00 952.00 558.00 6.50 1,500.00 01/01/15 03/31/20
3483-B Advanced Services Inc. 1,605 1,605.00 1,605.00 509.56 12.00 1,000.00 05/01/14 04/30/17
3483-C Phu Pham - Fancy Nails 1,146 1,639.00 1,639.00 17.16 2,300.00 08/01/15 07/31/25
3483 -DE O'Reilly Auto Enterprises, LLC 6,993 10,023.90 10,023.90 1,750.00 17.20 - 11/03/87 11/30/22
3485-CDE Captain Smiles of Greeley P.C. 12,236 10,065.00 10,065.00 3,830.43 9.87 8,000.00 02/28/07 12/31/20
3487-A VACANT 1,758 2,131.00''
3487-B Planned Parenthood 1,375 1,546.88 1,546.88 436.56 13.50 03/01/90 02/28/19
3487-C Katherine Angell, Soza Salon 1,375 1,667.00 1,667.00 436.00 14.55 - 07/01/16 09/30/26
3487-D Thin Air Pizza Works, Inc. 1,635 1,410.00 1,410.00 519.00 10.35 - 11/15/07 01/31/18
3487-E Francisca Navarro dba Tippy Tot 1,088 907.00 907.00 345.00 10.00 1,200.00 07/01/16 08/31/19
3487-F Francisca Navarro dba Tippy Tot 1,327 - 421.32 800.00 10/01/19 08/31/19
3487-G Jon's Custom Creations Tattoos 1,146 764.00 764.00 364.00 8.00 - 06/01/16 07/31/21
3489-A Beauty Supply Group, LLC 2,072 2,115.17 2,115.17 657.86 12.25 - 10/01/11 09/30/16
3489-B Topsail Tax Service - Jackson He 1,200 1,200.00 1,200.00 381.00 12.00 2,000.00 10/15/05 05/31/19
3489-C Dept. of the Military & Veterans 800 1,400.25 1,400.25 21.00 - 08/01/05 06/30/17
18 Tota I
17 Total Occupied
% Occupied
1 Total Vacant
% Vacant
37,514 37,426.20 35,295.20 10, 208.73 16, 800.00
35,756 35,295.20
95.31% 94.31%
1,758 2,131.00
4.69% 5.69%
(40
July 14, 2020
Petitioner:
CWC INCOME PROPERTIES 6 LLC
11236 EL CAMINO REAL STE 200
SAN DIEGO, CA 92130-2647
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):
ASSET REALTY ADVISORS INC
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO
80121
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket 2020-2099, AS0106 Appeal 2008226229 Hearing 8/3/2020 1:30 PM
Account(s) Appealed:
R8955677
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 3, 2020, at or about the hour of
1:30 PM, 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, 2020, 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
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 14, 2020
Agent: Petitioner:
ASSET REALTY ADVISORS INC
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO 80121
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
CWC INCOME PROPERTIES 6
LLC
11236 EL CAMINO REAL STE
200
SAN DIEGO, CA 92130-2647
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket 2020-2099, AS0106 Appeal 2008226229 Hearing 8/3/2020 1:30 PM
Account(s) Appealed:
R8955677
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 3, 2020, at or about the hour of
1:30 PM, 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, 2020, 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 3, 2020
Petitioner:
CWC INCOME PROPERTIES 6 LLC
11236 EL CAMINO REAL STE 200
SAN DIEGO, CA 92130-2647
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):
ASSET REALTY ADVISORS INC
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO 80121
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2020-2099 Appeal 2008226229 Hearing
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 2020.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
R8955677 Stipulated - Approved
Stipulated Value
$5,394,144 $5,295,000
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, 2020, MUST comply with the
following provisions of C.R.S. §39-8-107(5):
(5)(a)(I) On and after August 10, 2020, 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 subparagraph (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) All of the underlying data used by the county in calculating the value of the subject property that is being
appealed, including the capitalization rate for such property; and
(B) The names of any commercially available and copyrighted publications used in calculating the value of
the subject property.
(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 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
August 3, 2020
Agent:
ASSET REALTY ADVISORS INC
5 E BELLEVIEW DRIVE
GREENWOOD VILLAGE, CO 80121
Petitioner:
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
CWC INCOME PROPERTIES 6 LLC
11236 EL CAMINO REAL STE 200
SAN DIEGO, CA 92130-2647
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2020-2099 Appeal 2008226229 Hearing
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 2020.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
R8955677 Stipulated - Approved
Stipulated Value
$5,394,144 $5,295,000
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, 2020, MUST comply with the
following provisions of C.R.S. §39-8-107(5):
(5)(a)(I) On and after August 10, 2020, 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 subparagraph (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) All of the underlying data used by the county in calculating the value of the subject property that is being
appealed, including the capitalization rate for such property; and
(B) The names of any commercially available and copyrighted publications used in calculating the value of
the subject property.
(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
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 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
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