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Home My WebLink About20193003.tiffAugust 6, 2019 Petitioner: SUFFOLK MGMT LTD LIABILITY CO 82.3 INT C/O FAIRACRES MANOR 1700 18TH AVE GREELEY, CO 80631-5134 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBS ITE: www.weldqov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): MEISSNER ASSOCIATES PO BOX 630408 LITTLETON, CO 80163-0408 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3003 Appeal 2008224870 Hearing 8/5/2019 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 2019. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R3124186 Stipulated - Approved Stipulated Value $4,387,688 $3,900,930 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, 2019, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2019, 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 eLe Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor August 6, 2019 Agent: MEISSNER ASSOCIATES PO BOX 630408 LITTLETON, CO 80163-0408 Petitioner: 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 SUFFOLK MGMT LTD LIABILITY CO 82.3 INT C/O FAIRACRES MANOR 1700 18TH AVE GREELEY, CO 80631-5134 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3003 Appeal 2008224870 Hearing 8/5/2019 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 2019. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R3124186 Stipulated - Approved $4,387,688 $3,900,930 Stipulated Value 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, 2019, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2019, 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 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R3124186 STIPULATION (As To Tax Year 2019 Actual Value) RE PETITION OF : NAME: ADDRESS: SUFFOLK MGMT LTD LIABILITY CO 82.3 INT 1700 18th Ave Greeley, CO 80631 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2019 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 1886 L3 TO 8 & L26 TO 31 EXC N34' L3 & 31 BLK5 FAIRACRES 1ST (FAIRACRES NURSING HOME) 2. The subject property is classified as Multi -Unit property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2019 Total $4,387,688 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2019 actual value for the subject property: Total $3,900,930 5. The valuation, as established above, shall be binding only with respect to tax year2019 6. Brief narrative as to why the reduction was made: After a review of the three approaches to value, an adjustment was indicated. 7. Both parties agree that: The hearing scheduled before the Board of Equalization on 8/1/2019 at 1:30 pm be vacated. nA hearing has not yet been scheduled before the Board of Equalization. Q019 -3003 /\SO l03 DATED this 22 day of July , 2019 . David Meissner David Meissner )Jul 22. 2019) Petitioner(s) or Agent or Attorney Address: Meissner Associates PO Box 630408 Littleton, CO 80163-0408 Telephone: 303-649-9550 Docket Number R3124186 Stip-1.Frm (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 Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 R3124186 / SUFFOLK MGMT LTD LIABILITY CO 82.3 INT Final Audit Report 2019-07-22 Created: 2019-07-22 By: Wade Melies (wmelies@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAA1X5MiFpBnA1Cgejh3h5jp4T9VUeUT3TF "R3124186 / SUFFOLK MGMT LTD LIABILITY CO 82.3 INT" Hi story �J Document created by Wade Melies (wmelies@co.weld.co.us) 2019-07-22 - 4:12:53 PM GMT- IP address: 204.133.39.9 LT Document emailed to Wade Melies (wmelies@co.weld.co.us) for approval 2019-07-22 - 4:12:55 PM GMT G`ro Document approved by Wade Melies (wmelies@co.weld.co.us) Approval Date: 2019-07-22 - 4:13:05 PM GMT - Time Source: server- IP address: 204.133.39.9 P. Document emailed to Susan Gundry (sgundry@co.weld.co.us) for approval 2019-07-22 - 4:13:06 PM GMT ``I Email viewed by Susan Gundry (sgundry@co.weld.co.us) 2019-07-22 - 4:40:14 PM GMT- IP address: 204.133.39.9 5 Document approved by Susan Gundry (sgundry@co.weld.co.us) Approval Date: 2019-07-22 - 4:49:36 PM GMT - Time Source: server- IP address: 204.133.39.9 E? Document emailed to Brenda Dones (bdones@co.weld.co.us) for signature 2019-07-22 - 4:49:37 PM GMT t Email viewed by Brenda Dones (bdones@co.weld.co.us) 2019-07-22 - 4:54:17 PM GMT- IP address: 204.133.39.9 A). Document e -signed by Brenda Dones (bdones@co.weld.co.us) Signature Date: 2019-07-22 - 4:55:49 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to David Meissner (meissnerassociates@gmail.com) for signature 2019-07-22 - 4:55:50 PM GMT Adobe Sign t Email viewed by David Meissner (meissnerassociates@gmail.com) 2019-07-22 - 5:44:46 PM GMT- IP address: 66.102.6.42 Document e -signed by David Meissner (meissnerassociates@gmail.com) Signature Date: 2019-07-22 - 5:48:41 PM GMT - Time Source: server- IP address: 63.151.68.18 Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2019-07-22 - 5:48:42 PM GMT t Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2019-07-22 - 5:55:08 PM GMT- IP address: 204.133.39.9 GAO Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2019-07-22 - 7:07:32 PM GMT - Time Source: server- IP address: 204.133.39.9 Signed document emailed to Wade Melies (wmelies@co.weld.co.us), Brenda Dones (bdones@co.weld.co.us), David Meissner (meissnerassociates@gmail.com), Susan Gundry (sgundry@co.weld.co.us), and 2 more 2019-07-22 - 7:07:32 PM GMT Adobe Sign Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 NOTICE OF DETERMINATION RECEIVED JUL 1 5 2010 WELD COUNTY COMMISSIONERS Date of Notice: 6/25/2019 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM - 5:00PM ACCOUNT NO, TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R3124186 2019 0600 GR 1886 L3 TO 8 & L26 TO 31 EXC N34' L3 & 31 BLK5 FAIRACRES 1ST (FAIRACRES NURS ING HOME) 1700 18TH AVE GREELEY PROPERTY OWNER SUFFOLK MGMT LTD LIABILITY CO 82.3 INT C/O FAIRACRES MANOR 1700 18TH AVE GREELEY, CO 80631-5134 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL COMMERCIAL 4,382,875 4,813 4,382,875 4,813 TOTAL 4,387,688 4,387,688 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. Agent (If Applicable): MEISSNER ASSOCIATES PO BOX 630408 LITTLETON, CO 80163-0408 15-DPT-AR PR 207-08/13 R3124186 2019-3003 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 25th through August 5th 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.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, § 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 specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ 66O 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.) V (e'Ct'_e `lee OV( ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein ands -any attaChmenjs hereto are true and complete. Signature 617 -.s�� Telephone Number Email Address ' Attach letter of authorization signed by property owner. Date 7[(z(zo r` 15-DPT-AR PR 207-08/13 R3124186 MEISSNER ASSOCIATES Real Estate Tax Reductions . Brokerage July 12, 2019 Board of Equalization Weld County PO Box 758 Greeley, CO 80631 Re: 2019 VALUATION PROTEST - Real Property Dear Board, Please consider the attached protest of the 2019 valuation. Salient facts are listed below: Subject Property: 1700 18th Ave Greeley, Account # R3124186 Property Type/Use: Nursing Home Owner of Record: Suffolk Mgmt Ltd Liability Co Current Actual Value (2019): $4,387,688 or $125/sf of building Requested Actual Value: $3,681,600 or $105/sf of building Basis of Protest: The subject property operates as Fairacres Manor skilled nursing facility. Sales comparables of this property type are rare, and many times, difficult to extract the real property value. We feel that multi -family sales are the best market representation (with $/sf of building as the unit of measure) for this property type since the use is similar for most of the facility. Please consider the attached base period sales of multi -family properties in the Greeley area which support our request. The information and facts contained herein and on any attachments constitute true and complete statements concerning the described property to the best of our knowledge. The Meissner Associates objective as an advocate of the taxpayer is a fair and equalized assessed value, performing valuation services outside of appraisal practice. The above valuation request is consistent with the property owner/client's desire for lower taxes and fees earned by Meissner Associates are contingent on assessment reductions. Attached please find the agency authorization signed by our client. Please contact us at (303)649-9550 if any additional information is needed. Thank you. Sincerely, David J. Meissner r. REALTOR' P.O. Box 630408 , Littleton, CO 80163-0408 (303) 649-9550 (970) 819-0960 www.meissnerassociates.com meissnerassociates@gmail.com FAX (720) 223-6127 Property Owner/ lent MEISSNER ASSOCIATES Real Estate Tax Reductions Brokerage CONSULTANT - EXCLUSIVE AGENCY AGREEMENT PROPERTY OWNER/CLIENT Suffolk Mgmt Ltd Liability Co / Bidell PROPERTY ADDRESS 1700 E 18th St Greeley COLORADO COUNTY Weld SCHEDULE NUMBER(S) R3124186 Client agrees with Meissner Associates that for the real estate assessment year 2019, and for the biennial period 2019 and 2020, for the property referenced above, that Meissner Associates is hereby engaged and authorized to act as exclusive agent and consultant for Client, in the preparation of a real estate assessment petition for the Client to the County Board of Equalization, and if necessary, to the State of Colorado Board of Assessment Appeals. Valuation services outside of appraisal practice will be performed. Client hereby authorizes Meissner Associates, as exclusive agent of the Client to execute and cause to be filed on behalf of Client and in the name of Client, any and all documents relating to a petition of the assessments, for the assessment year 2019 and for the remaining year of the biennial period referenced above, to the County Board of Equalization, and if necessary, to the State of Colorado Board of Assessment Appeals. If the services of an attorney at law are required in connection with any petition referenced herein, it is the Client's option and expense to continue the petition by engaging an attorney. Meissner Associates will co- operate with the attorney in the furtherance of the petition. Meissner Associates does not perform the duties or functions of an attorney at law. Any fees payable to Meissner Associates for its services are separate and distinct from any fees payable by the Client to any attorney at law retained by the Client, are strictly contingent on assessment reductions, and are payable according to the terms of the FEE AGREEMENT. This CONSULTANT - EXCLUSIVE AGENCY AGREEMENT terminates upon receipt by Meissner Associates of the final resolution of any petition(s) initiated during the biennial period referenced above. 8/-1&',e Date March 13, 2019 David J. Meissner, Meissner Associates Date P.O. Box 630408 Littleton, CO 80163-0408 (303) 649-9550 (970) 819-0960 www.mcissnerassociates.com meissnerassociates@gmail.com FAX (720) 223-6127 . 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Fairacres Manor Inc 1700 18th Ave, Greeley, CO - (970) 353-3370 1 review , r. 14th St - 1 a co cri D m 17th St Rd aria a ibtontviej+ Rd 1F1' L` f l _1 16th St r Lakeside or 1: 5 a 15th St • I< < W it i 8tt Map data 02009Tele Atlas 1 of 1 5/9/2009 10:34 AN Nt LAX+, e (_,,L}ics 9 401 11th St - Lincoln Square SOLD Greeley, CO 80631 Recorded Buyer: Housing Authority Of Weld County 505 9th Ave Greeley, CO 80631 (970) 353-7437 True Buyer: Housing Authority Of Weld County Weld County Recorded Seller: Lincoln Square Associates, Ltd 401 11th St Greeley, CO 80631 (970) 353-1176 True Seller: Laura G. Archibeque Sale Date: 01/17/2018 Sale Price: $1,995,000 - Confirmed Price/ Price/Unit: $95,000 PrFrma Cap Rate: - Actual Cap Rate: 6.00% GRM/GIM: - Parcel No: Financing: Comp ID: ci7<g-7(sc Bldg Type: Class C Multi-FamilvApartments Year Built/Age: Built 1981 Age: 37 GBA: • F #of Units: 21 '- Zoning: R -H Sale Conditions: - 096105424013 Down payment of $1,995,000 (100.0%) 4111058 — Research Status: Confirmed 1713-1807 28th St - Summit Lofts Apartments SOLD Greeley, CO 80631 True Buyer: John O'Hara PO Box 566 Castle Rock, CO 80104 (720) 220-7940 John O'Hara True Seller: Weld County Manuel Montoya Jr PO Box 479 Kersey, CO 80644 (970) 351-0982 Manuel Montoya Sale Date: Sale Price: Price/SF: Price/Unit: PrFrma Cap Rate: Actual Cap Rate: GRM/GIM: Parcel No: Financing: Comp ID: 04/12/2017 $2,475,000 - Confirmed $77.16 $68,750 5.00% Bldg Type: Class C Multi-FamilvApartments Year Built/Age: Built 1971 Age: 46 GBA: 32,076 SF # of Units: 36 Zoning: RH, Greeley Sale Conditions: Deferred Maintenance 096118318023, 096118318026, 096118318027 $1,900,000 from First State Bank 3884317 — Research Status: Confirmed 509 18th St - University Apartments SOLD Greeley, CO 80631 Recorded Buyer: Bears Village 605 S College Ave Fort Collins, CO 80524 (970) 219-1493 Recorded Buyer: MMP Ventures I LLc 1680 Adams St Denver, CO 80206 True Buyer: Schuman Companies 4630 Royal Vista Cir Windsor, CO 80528 (970) 219-1493 Philip Schuman Weld County Recorded Seller: Trustees of State Colleges in Colorado 509 18th St Greeley, CO 80639 (970) 351-1890 Recorded Seller: - True Seller: University of Northern Colorado 501 20th St Greeley, CO 80639 (970) 351-1890 Copyrighted report licensed to Meissner Associates - 988353. 7/12/2019 Page 1 Sale Date: 02/15/2017 (174 days on mkt) Sale Price: $7,100,000 - Confirmed Price/SF: Price/Unit: $72,449 PrFrma Cap Rate: Actual Cap Rate: 6.50% GRM/GIM: - Parcel No: Financing: Comp ID: �occ( 61,(03( Bldg Type: Class C Multi-FamilvDormitory Year Built/Age: Built 1967 Age: 50 GBA: , # of Units: 98 Zoning: I -L Sale Conditions: 096108405017 $5,751,675 from Guaranty Bank & Trust 3834847 — Research Status: Confirmed ogccf6o --Ccsok 4c--• 4 3th Ave - New Colony Apartments SOLD Greeley, CO 80631 Recorded Buyer: Clement M McNaney III 11507CR70 Windsor, CO 80550 (970) 686-7730 Recorded Buyer: Longhorn Investors LLC 605 S College Ave Fort Collins, CO 80524 True Buyer: Clement M McNaney III 11507 CR 70 Windsor, CO 80550 (970) 686-7730 Clement McNaney Weld County Recorded Seller: New Colony LLC 1900 S Shields St Fort Collins, CO 80526 Recorded Seller: - True Seller: John H McCoy 1900 S Shields St Fort Collins, CO 80526 (970) 484-8542 John McCoy Sale Date: 09/29/2016 Sale Price: $2,625,000 - Confirmed Price/SF: $81.62 Price/Unit: $77,206 PrFrma Cap Rate: - Actual Cap Rate: 5.75% GRM/GIM: - Parcel No: - Bldg Type: Class C Multi-FamilvApartments Year Built/Age: Built 1967 Age: 49 GBA: 32,160 SF # of Units: 34 Zoning: - Sale Conditions: - Financing: Down payment of $625,000 (23.8%); $2,000,000 from Homestreet Bank Comp ID: 3722347 — Research Status: Confirmed Copyrighted report licensed to Meissner Associates - 988353. 7/12/2019 Page 2 5 530 13th Ave - Washington School Apartments SOLD Greeley, CO 80631 Recorded Buyer: G Units, LLC 605 S College Ave Fort Collins, CO 80524 Weld County Recorded Seller: Blutegel LLLP 5340 Waterstone Dr Boulder, CO 80301 Sale Date: 07/18/2016 Bldg Type: Class B Multi-FamilvApartments Sale Price: $2,200,000 - Confirmed Year Built/Age: - Price/SF: $96.02 GBA: 22,912 SF Price/Unit: $88,000 # of Units: 25 PrFrma Cap Rate: - Zoning: C Actual Cap Rate: 5.74% Sale Conditions: - GRM/GIM: - Parcel No: 096106402018 Financing: $1,680,000 from Homestreet Bank Comp ID: 3662772 — Research Status: Confirmed Copyrighted report licensed to Meissner Associates - 988353. 7/12/2019 Page 3 (e. 6,(A.cfrz rotL te tqcirbw Address Sale Info 1 20th St 401 11th St 1713-1807 28th St 509 18th St Greeley 1009 13th Ave 530 13th Ave Greeley ji 13th St 34th S• City Greeley Greeley ' Subject 31s1 St 37th St Evans Property Info 32,322 SF Multi- Family/Apartments 32,076 SF Multi- Family/Apartments 76,150 SF Multi-Family/Dormitory Greeley 32,160 SF Multi- Family/Apartments Greeley 22,912 SF Multi- Family/Apartments E 16th* St E 240 St F 76th St E374 -St Sold: $1,995,000 ($95,000/Unit) Sold: $2,475,000 ($68,750/Unit) Sold: $7,100,000 ($72,449/Unit) Sold: $2,625,000 ($77,206/Unit) Sold: $2,200,000 ($88,000/Unit) Greeley-‘ Court' Affix, 1 mile Map data @2019 Copyrighted report licensed to Meissner Associates - 988353. 7/12/2019 Page 4 Hello