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Home My WebLink About20194061.tiffd- ( e e v PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office Use Only 1313 Sherman Street, Room 315 Phone: 303-864-7710 Denver, Colorado 80203 Fax: 303-864-7719 RECEIVED SEP 0 9 2019 WELD COUNTY COMMISSIONERS Property Owner: SPT Ivey Greeley MOB LLC Date: 09/04/2019 (- C 3 7 Docket No. Fee: Y Check/Credit Card #/ Payment Trans #: P F H Subject Property: 5890 W 13 ST Greeley Schedule Number(s): R7430598 Appeals the decision of the Weld County Board of Equalization This appeal is: Valuation/Protest Appeal Dated: 08/06/2019 Tax Year(s): 2019 The subject property is currently classified as: Commercial Actual Value assigned to the subject propertv$14,671,714 Petitioner's estimate of value:$11,815,000 Estimated time for Petitioner to present the appeal: 4 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: Petitioner will be represented by an agent Agent would like to appear in person If the property owner is an entity, it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed $15,000, exclusive of costs, interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127, C.R.S. A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed $15,000. A trust filing a petition may be represented by a trustee, an attorney or an agent. Filling Fee: $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property The property is valued in excess of fair market value based on the three approaches to value. In addition, the property is valued in excess of other similarly situated properties. 2019-4061 Ci; Y Yl t-) r cat; O (1S 09 nco«9 GG'•(XS R(60(3 mica), cct Km) act o((9 A‘So (03 R an.)® Innovative Solutions to Taxing Problems. September 5, 2019 To: Weld Board of Equalization P. O. Box 758 Greeley, CO 80632 Re: 2019 Property Protests RECEIVED SEP092019 WELD COUNTY COMMISSIONERS Enclosed are copies of the 2019 appeals that were E -Filed to the BAA: Taxpayer Parcel Centerplaceof Greeley III LLC R4997408 Rush Truck Centers of Colorado Inc I R6783222 SPT Ivey Greeley MOB LLC R7430598 SPT Ivey Greeley Cottonwood MOB LL . R7193998 7979 E. Tufts Avenue Stanford Place II Suite 1500 Denver, CO 80237 Tel. 720.524.0022 www. ryan.com If you have questions, or need additional information, please contact Mr. Matthew Poling at (720) 524-0022. Sincerely, Audria Eisenach Senior Analyst Enclosures Documents attached to this petition: County Board of Equalization Appeals The Assessor's Notice of Determination The Decision of the County Board of Equalization Additional Documentation Notarized Letter of Authorization Certificate of Service I certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to the County Board of Equalization, the Board of County Commisioners or the State Property Tax Administrator who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property on the date I submitted the Petition to the State Board of Assesment Appeals. ATTESTATION I understand that in accordance with Sections 18-8-503 and 18-8-501(2)(a)(I), C.R.S., false statements made herein are punishable by law. I state under penalty of perjury in the second degree, as defined in Section 18-8-503, C.R.S. that: I am the owner of the property that is the subject of this appeal, or I am the authorized agent or attorney for the owner of the property that is the subject of this appeal; and The information in this Petition to the State Board of Assessment Appeals (including all attachments) is true and correct to the best of my knowledge and belief. I understand that, upon acceptance by the Board of Assessment Appeals, I will need to pay the required filing fee associated with this Petition, if any. I understand that no further changes can be made to the Petition or attachments, unless corrections are required by the Board of Assessment Appeals. I understand my obligation to mail, fax or hand deliver a true and correct copy of the Petition (including all attachments) to the County Board of Equalization, the Board of County Commissioners or the State Property Tax Administration who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property. I will mail, fax or hand deliver the Petition (including all attachments) on the date I submit the Petition to the Board of Assessment Appeals. Petitioner's mailing address is required even if Petitioner is represented by an agent or attorney. Signature of Agent Signature of Petitioner Ryan Llc Company Name Ryan LIc - Audria Eisenach Printed Name SPT Ivey Greeley MOB LLC Property Owner Andres panza Printed Name 7979 E. Tufts Avenue 1255 23rd Streeet NW, #675 Mailing Address Mailing Address Denver, CO 80237 Washington Dc, DC 20037 City, State, Zip Code City, State, Zip Code Telephone: 720-524-0022 Telephone: 202-470-1548 Daytime number Email: audria.eisenach@ryan.com Email: It is the Petitioner's responsibility to notify the BAA of any change of address. Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or may be requested by phone at 303-864-7710. August 6, 2019 Agent: RYAN 7979 E TUFTS AVE SUITE 1500 DENVER, CO 80237-2843 Petitioner: G.tLAD oce_e_ArGy -0 -orlLi)OCc CLERK TO THE BOARD /IC% PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldqov.com 1150 O STREET 'P P.O. BOX 758 GREELEY CO 80632 SPT IVEY GREELEY MOB LLC 591 W PUTNAM AVE GREENWICH, CT 06830-6005 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3202 Appeal 2008224989 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 R7193998 Deny - Administrative Deny $8,007,157 R7430598 Deny - Administrative Deny $14,671,714 $8,007,157 $14,671,714 Totals: $22,678,871 2 Total Accounts $22,678,871 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 C.I.�C�CJ tLL �• ��tG� Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor ,t'O. r L- ea, ct,- C3 C2e,Le,, Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 NOTICE OF DETERMINATION 11-( APP e� 7(1 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 R7430598 2019 0600 PROPERTY OWNER SPT IVEY GREELEY MOB LLC 591 W PUTNAM AVE GREENWICH, CT 06830-6005 GR 2MHR L1 BLK 1 REPLAT OF MOSIER HILL 2 ND FLG 5890 W 13TH ST GREELEY COMMERCIAL PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW 14,671,714 14,671,714 TOTAL 14,671,714 14,671,714 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): RYAN 7979 E TUFTS AVE SUITE 1500 DENVER, CO 80237-2843 15-DPT-AR PR 207-08/13 R7430598 Starwood Capital (Medical Office) Greeley County Board of Equalization Hearings will be held from July 25th through August 5"' 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 0 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.col orado.govfbaa 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.. R7430598 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 11 15OOO amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) 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.) The subject property is values in excess of fair market value based on the three approaches to value: cost, market and income. In addition, the property is valued in excess of other similarly situated properties. ATTESTATION 1, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachments hereto are true and complete. Signature Ryan, LLC c/o Ethan Horn ethan.horn@ryan.com Email Address 303.222.1853 Telephone Number ' Attach letter of authorization signed by property owner. 07/15/2019 Date 15-DPT.AR PR 207-08/13 R4715207 4 LETTER OF AUTHORIZATION FOR PROPERTY TAX REPRESENTATION SPT Ivey Greeley Cottonwood MOB LL Property Owner R74305.98, 58901 13 ST Greeley Subject Property Weld County; CO Jurisdiction and State 201912020 Year This letter authorizes Ryan, LLC and its affiliate, Ryan Tax Compliance Services, LLC to represent the above -named property as its property tax agent in the jurisdiction and state named above. This authorization includes, but is not limited to: filing property renditions or returns; signing and filing appeals; examining property tax records; and, appearances before the assessor, boards of equalization or review, or other governmental agencies responsible for the assessment of property. If there are any questions concerning this authorization please contact the. following: Michelle Tarbell, (720) 524-0022, Michelie.Tarbell@ryan,coni A copy of any application or appeal attached to this authorization has been provided tothe undersigned property owner. A facsimile or scanned image of a signature below shall constitute an original signing of this authorization and the document containing the original signature will be submitted upon request. This authorization shall remain effective as long as permitted by law or until revoked in writing by the owner. The person signing below certifies that they are a duly. appointed officer, representative or agent of the ow. -r _ d that they have the legal capacity to execute this authorization. Property •caner Si re Title jJ Sworn and subscribed before me this (S1 day of Sc,5e,- H Printed Name Date Starwood Capital Group (Chicago) Greeley Mok , 2019. Notary Public My commission expires: KSENIA BEREZOV NOTARY PUBLIC State of Connecticut My Commission Ex ices October 31, 20, I 7� PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office Use Only Property Owner: 1313 Sherman Street, Room 315 Phone: 303-864-7710 Denver, Colorado 80203 Fax: 303-864-7719 RECEIVED SEP 0 9 2019 WELD COUNTY COMMISSIONERS SPT Ivey Greeley Cottonwood MOB LL Date: 09/04/2019 17 03 Docket No. Fee: Y Check/Credit Card #1 Payment Trans #: P F H Subject Property: 2210 16 ST GREELEY Schedule Number(s): R7193998 Appeals the decision of the Weld County Board of Equalization This appeal is: Valuation/Protest Appeal The subject property is currently classified as: Commercial Dated: 08/06/2019 Tax Year(s): 2019 Actual Value assigned to the subject property$8,007,157 Petitioner's estimate of value:$6,125,000 Estimated time for Petitioner to present the appeal: 4 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: Petitioner will be represented by an agent Agent would like to appear in person If the property owner is an entity, it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed $15,000, exclusive of costs, interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127, C.R.S. A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed $15,000. A trust filing a petition may be represented by a trustee, an attorney or an agent. Filling Fee: $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property The property is valued in excess of fair market value based on the three approaches to value. In addition, the property is valued in excess of other similarly situated properties. Ryan*) ovative Solutions to Taxing Problems. September 5, 2019 To: Weld Board of Equalization P. O. Box 758 Greeley, CO 80632 Re: 2019 Property Protests RECEIVED SEP092019 WELD COUNTY COMMISSIONERS Enclosed are copies of the 2019 appeals that were E -Filed to the BAA: Taxpayer Parcel Centerplace of Greeley JII LLC R4997408 Rush Truck Centers of Colorado Inc I R6783222 SPT Ivey Greeley MOB LLC R7430598 t SPT Ivey Greeley Cottonwood MOB LL I R7193998 7979 E. Tufts Avenue Stanford Place II Suite 1500 Denver, CO 80237 Tel. 720.524.0022 www.ryan.com If you have questions, or need additional information, please contact Mr. Matthew Poling at (720) 524-0022. Sincerely, Audria Eisenach Senior Analyst Enclosures Documents attached to this petition: County Board of Equalization Appeals The Assessor's Notice of Determination The Decision of the County Board of Equalization Additional Documentation Notarized Letter of Authorization Certificate of Service I certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to the County Board of Equalization, the Board of County Commisioners or the State Property Tax Administrator who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property on the date I submitted the Petition to the State Board of Assesment Appeals. ATTESTATION I understand that in accordance with Sections 18-8-503 and 18-8-501(2)(a)(I), C.R.S., false statements made herein are punishable by law. I state under penalty of perjury in the second degree, as defined in Section 18-8-503, C.R.S. that: I am the owner of the property that is the subject of this appeal, or I am the authorized agent or attorney for the owner of the property that is the subject of this appeal; and The information in this Petition to the State Board of Assessment Appeals (including all attachments) is true and correct to the best of my knowledge and belief. I understand that, upon acceptance by the Board of Assessment Appeals, I will need to pay the required filing fee associated with this Petition, if any. I understand that no further changes can be made to the Petition or attachments, unless corrections are required by the Board of Assessment Appeals. I understand my obligation to mail, fax or hand deliver a true and correct copy of the Petition (including all attachments) to the County Board of Equalization, the Board of County Commissioners or the State Property Tax Administration who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property. I will mail, fax or hand deliver the Petition (including all attachments) on the date I submit the Petition to the Board of Assessment Appeals. Petitioner's mailing address is required even if Petitioner is represented by an agent or attorney. Signature of Agent Signature of Petitioner Ryan Llc Company Name Ryan Llc - Audria Eisenach Printed Name SPT Ivey Greeley Cottonwood MOB LL Property Owner Andres Panza Printed Name 7979 E. Tufts Avenue 1255 23rd Street NW, #675 Mailing Address Mailing Address Denver, CO 80237 Washington Dc, DC 20037 City, State, Zip Code City, State, Zip Code Telephone: 720-524-0022 Telephone: 202-470-1548 Daytime number Email: audria.eisenach@ryan.com Email: It is the Petitioner's responsibility to notify the BAA of any change of address. Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or may be requested by phone at 303-864-7710. August 6, 2019 Agent: RYAN 7979 E TUFTS AVE SUITE 1500 DENVER, CO 80237-2843 Petitioner: 5-kawooc.\ Ce_e_ArGy Cod-oncvoocf% CLERK TO THE BOARD MO6 PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 SPT IVEY GREELEY MOB LLC 591 W PUTNAM AVE GREENWICH, CT 06830-6005 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3202 Appeal 2008224989 Hearing 8/5/2019 Dear Petitioner: A-prni h r ,l as 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 R7193998 Deny - Administrative Deny R7430598 Deny - Administrative Deny $8,007,157 $14,671,714 $8,007,157 $14,671,714 Totals: $22,678,871 2 Total Accounts $22,678,871 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 aZ" bk_e IGZ Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 W O ' c\ — L.5 (Q. c_ L.ei LQ ) N., W U U V- I r LA, (3 U� NOTICE OF DETERMINATION 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 R7193998 2019 0600 PROPERTY OWNER SPT IVEY GREELEY COTTONWOOD MOB LLC C/O STARWOOD PROPERTY TRUST INC 591 W PUTNAM AVE GREENWICH, CT 06830-6005 COMMERCIAL PROPERTY CLASSIFICATION GR HS L2-3-4-5 BLK 1 HAYS SUB EXC N10' W 10' L3 FOR DED RNV ALSO EXC E96.47' OF S 96.84' L5 2210 16TH ST GREELEY ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW 8,007,157 8,007,157 TOTAL 8,007,157 8,007,157 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): RYAN 7979 E TUFTS AVE SUITE 1500 DENVER, CO 80237-2843 15 -DIRT -AR PR 207-08/13 R7193998 Starwood Capital (Medical Office) Greeley Cottonwood MOB 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) 3564000 ext, 4225 Online: www.co.weld.co.uslappsl/cboef 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 vtvirvv.dola.colorado.00v/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. R7193998 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), CRS.) $ 61125,000 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.) The subject property is values in excess of fair market value based on the three approaches to value; cost, market and income. In addition, the property is valued in excess of other similarly situated properties. I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachmenjs hereto are true and complete. Signature Ryan, LLC c/o Ethan Horn ethan.hom@ryan.com Email Address 303.222.1853 Telephone Number ' Attach letter of authorization signed by property owner. 07/15/2019 Date 15 -OPT -AR PR 207-08113 R4715207 LETTER OF AUTHORIZATION FOR PROPERTY TAX REPRESENTATION SPT, Ivey Greeley Cottonwood MOB LL Property Owner .. .. _.. ............... R7193998, 2210 16 ST GREELEY Subject Property Weld County, CO Jurisdiction and State 2019/2020 Year This letter authorizes Ryan, LLC and its affiliate, Ryan Tax Compliance Services, LLC to represent the above -named property as its property tax agent in the jurisdiction and state named above. This authorization includes., but is not limited to: filing property renditions or returns; signing and filing appeals; examining property tax records; and, appearances before the assessor, boards of equalization or review, or other governmental agencies responsible for the assessment of property. If there are any questions concerning this authorization please contact the following: Michelle Tarbell, (720) 524-0022, Michelle.Tarbell@ryan.com A copy of any application or appeal attached to this authorization has been provided to the undersigned property owner. A facsimile or scanned image of a signature below shall constitute an original signing of this authorization and the document containing the original signature will be submitted upon request This authorization shall remain effective as long as permitted by law or until revoked in writing by the owner. The perso Eg g below certifies that they are a duly appointed officer, representative or agent of the o ran at they have the legal capacity to execute this authorization. Property Title f -/ s Printed Name Date 011101 .0l1'li Sworn and subscribed before me this `J 1 day of , 1 , 2019, Notary Public My commission expires: Starwood Capital Group (Chicago). Greeley Cottonwood MOB KSENIA BEREZOV NOTARY Pusuc State of Connecticut.. My Commission Ex i es October 31, 20..._5 Hello