HomeMy WebLinkAbout20172347.tiffAugust 9, 2017
Petitioner:
3390 LLC
46338 COUNTY ROAD 1
PARKER, CO 80138-4928
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.co.weld.co.us
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Agent (if applicable):
RE: THE BOARD OF EQUALIZATION 2017, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket #: 2017-2347 Appeal #: 2008216868 Hearing Date:
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. Section 39-8-101 et seq., considered
petition for appeal of the Weld County Assessor's valuation of your property described above, for the year
2017.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
R3236404 Stipulated - Approved
Stipulated Value
$977,162 $926,039
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. Section 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, 2016, MUST comply with the
following provisions of C.R.S. Section 39-8-107(5):
(5)(a)(I) On and after August 10, 2011, 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 section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 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. Section 39-8-108(1), the rules of Colorado appellate
review and C.R.S. Section 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. Section 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,
az,L,e
Esther E. Gesick, Clerk to the Board
Weld County Board of County Commissioners
and Board of Equalization
Cc: Christopher Woodruff, Weld County Assessor
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
Single County Schedule Number R3236404
STIPULATION (As To Tax Yearr2017_ Actual Value)
RE PETITION OF :
NAME: 3390 LLC
ADDRESS: 3390 23r° Ave
Evans, CO
ftECEIVEp
JUL 2 0 2017
WELD COUNTY ASSESSOR
GREELEY, COLORADO
Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation
regarding the tax year 2017 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:
I. The property subject to this Stipulation is described as:
GR 2CVCCRA L3 BLK1 CHAPPELOW VILLAGE COMMERCIAL
CENTER 2ND FG RPLT A
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 2017:
Total $977,162.00
4. After further review and negotiation, Petitioner (s) and Weld County Assessor
agree to the following tax year 2017 actual value for the subject property:
Total $926,039.00
5. The valuation, as established above, shall be binding only with respect to tax
year 2017.
6. Brief narrative as to why the reduction was made:
After a review of all three approaches, it was determined an adjustment was
warranted.
7. Both parties agree that:
®The hearing scheduled before the Board of Equalization on 08/02/2017 at
1:30 pm be vacated.
R3236404
1
❑A hearing has not yet been scheduled before the Board of Equalization,
DATED this 18 day of July, 2017.
Petitioner( or Agent or Attorney _
Address:
V5 IV,47‘
o *3. • C :, l _.!
reirk4n 21 $OJT:
Telephone: .-358, - ii70%
Docket Number
Stip- I .Frm
Assistant) County Attorney
Respondent, Weld County Board of
Commissioners
Address:
1150 "O" Street
P.O. Box 758
Greeley, CO 80632
Telephone:(970) 336-7235
Address:
1400 N.17th Avenue
Greeley, CO 80631
Telephone: (970) 353-3845 ext. 3697
R3236404
2
NOTICE OF DETERMINATION
Christopher M. Woodruff
Weld County Assessor
1400 N 17th Ave
Greeley, CO 80631
.ACCOUNT NO
R3236404
PROPERTY
TAX YEAR
2017
TAX AREA
0650
3390 LLC
46338 COUNTY ROAD 1
PARKER, co 80138-4928
PROPERTY CLASSIFICATION..
COMMERCIAL
Date of Notice: 6/30/201'7
Telephone: <970) 400-3650
Fax: (970) 304-6433
Office Hours: 8:00AM a 5:00PM
LEGAL DESCRIPTION?' PHYSICAL LOCATION
GR 2CVCCRA L3 BLK1 CHAPPELOW VILLAGE Co
MMERCIAL CENTER 2ND FG RPLT A
3390 23RD AVE
EVAN , CO
RECEIVED
JUL 142017
WELD COUNTY
COMMISSIONERS
ASSESSOR'S VALUATION
ACTUAL VALUE PRIOR TO
REVIEW
EW
977,162
TOTAL
$977,162
ACTUAL VALUE AFTER
,PEV1-
977,162
$977,162
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:
CMOS- The law requires that data from Jan 2015 to June 2016 be used to establish current values.
We have considered all three approaches to value and we have denied your appeal based upon this
data.
If you disagree with the Assessor's decision, you have the right to appeal to the County
Board of Equalization for further consideration, § 394406(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):
RECEIVED
'JUL 132011
WELD COUNTY ASSESSOR
GREELEY, COLORADO
16-DPT-AR
PR 207-08/1:3
R3236404
2017-2347
APPEAL PROCEDURES
County Board of Equalization Hearingswill be held from
July 24th through August 4th 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) 3564000 ext, 4225
Online: http://www.tco oweld tcp ,, p picboe/
To preserve your appeal rights, your Petition to the County Board of Equalization must be
postmarked or delivered on or before July 16 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
§ 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), CRS*
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
1313 Sherman Street, Room 315
Denver, CO80203
(303) 866-5880
sawvyyv,dola.coloradoago /
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, claims tax return, statement, remittance, or other document
falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed
on the next business day, sc 394-120(3), CRS.
District Court
Contact the District Court in the County
where the property is located. See your
local telephone book for the address and
telephone numbers
What is Ifour estimate of the property's value as of June 30, 2016? (Your opinion of value in terms of a
specific dollar amount is required for real property pursuant to 00 9-8-10 .5), .R. .j
qoo,eoer••
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, etcco:totigit humil date. n*, otel cou vieilierPa a lochelit
*es
YieJevisef'itmerrkrel/'tesiiwruwl awn
I, the undersigned owner or agent1 of the property identified above, affirm that the statements contained herein
and . n an att chments hereto are true and complete.
416 341, -,e3 'MIS a JP/00
SL nature
akacratii'FlaaoLGeV
Telephone Number
Email Address
' Attach letter of authorization signed by property owner.
Date
16 -OPT -AR
PP. 207-08/13
R3236404
3380 23r' Ave.
To my knowledge there have only been two restaurants in Evans that have at 3390 23' Ave. at $9007000
sold during the valuation period. Our property
(approx.. $146 per s.f.) on October 21, 2015 and thone at The3033 eh Ave, at
cc�unty has zero basis
$895,000 (approx. $99 per sat) on February 1 0, 2018)
for a valuation of $977,162 {approx.. $159 per s•f.}. Restaurants in Greeley must be
discounted because they are in a better market. And I didn't see any that were close
to ours. Both ladies that I spoke to said that land valueshave increased.
Fproperty
antasy at
best. Reality is this. Mr Tointon bought the property.adjacent northf our
for $5b0,000 in 2d0'7. In the last two years the price has 145 acres,
$390,000
without a serious nibble. He'll be lucky to get $280,000 for the
$900,000 is it Did the County use this factual purchasebankrupt
forvaluation? I l
data County used for valuation including relevant restaurant properties
immediately eQ my expert can review for appeals
3033 8th Ave
Evans, CO 80620
Restaurant Building of 9,041 SF Sold on 2/10/2015 for $895,000
- Research Complete
buyer
Charles Campbell
6400 Westown Pky
West Des Moines, IA 58288
(515) 226-0128
1"an AnnIn erns . 111\ 11 V'N"..1 Tel
seller
h•.wnelnJ-w-Y.N-•1
Jim L Ells
2535 71st Ave
Greeley, CO 80634
(970) 339-5782
. a
vital data
4
Escrow/Contract:
Sale Date:
Days on Market:
Exchange:
Conditions:
Land Area SF:
Acres:
SF Land Gross:
Year Built, Age:
Parking Spaces:
Parking Ratio:
FAR
Lot Dimensions:
Frontage:
Tenancy:
Corrtp ID:
2110/2016
14063 days
No
94,029
2.16
$9.52
1987 Age: 29
110
0.10
326 feet on 8th Ave 323 feet on ..,
3514021
Sale Price:
Status:
Building SF:
PriicF:
Pro Forma Cap Rate:
Actual Cap Rate:
Down Prrnnt:
Pct Down:
Doc No:
Trans Tax:
Corner:
Zoning:
Percent Improved:
Subrnarket:
Map Page:
Parcel No:
Property Type:
$895,000
Confirmed
9,041 SF
$98.99
4179755
No
C
58+8°,
Greeley Ret
096120224002
Retail
Income expense data
Net Income
financing
Net Operating Income
de Debt Service
- Capital Expenditure
Cash Flow
$318,500
J...1..Welims
..1I.
[�s�ng Bra
• •• ...1 I 1•I w..14.1— h..--4 a1. 14
Cushman & Wakefield
772 Whalers Way
Fort Collins, CO 80525
(970) 7764900
Jason Ells
[Buyer Broker
CBIRE
3500 John F Kennedy Pky
Fort Collins, CO 80525
(970) 3724007
Peter Kelly, Steve Stoecker
prior sale
Date/Doc No:
Sale Price:
CornpiD:
4/24/2012
$415,000
2306708
WI it TI flN
I INN FS i't7R ?IE TWON Pt
Copyrighted report licensed to Western investor Network, LW - 755004,
7/1112017
**.nq gar f was t In Ai
Page 4
APPEAL OF PROPERTY VALUATION AT 3390 23rd AVE., EVANS, CO,
R3246404
OWNER: 3390,LLC
46338 county Road 1
Parker, CO 80138-4928
Contact: Daryl (lone, Managing Member, ad arthi° a t+ _ aol.com, 303.358.4705
To Ms. Sue Gundry:
Please find enclosed Loan Purchase Agreement (11 p), Assignment and Assumption
of Interests and Obligations, Loan No.30301119 (6p), and Confirmation Deed (Ip).
The basis of our appeal is that we purchased this property' for $900,000 on October
21, 2015 within the county's described time table. We participated in a bid process
and were the highest bidder. This bankruptcy and foreclosure was taken through
the Weld County Courts with the prior owners.
After consultation with my attorney this purchase price of $900,000 should be the
only consideration of evaluation.
Neither the former owner or those in control of the loan did not protest the valuation
because the bankruptcy and health problems.
According to the City records the square feet of the perimeter of the building footprint
which includes what is there today is 5T850 s.f. There is about 290 s.f. of overhang
at the north and west entrances. The pergola at the south over the exterior patio is
not an overhang. Lot 2 (N. of us) was bought for about $500,000 in '15. Could have
been bought for $275,000 in mid to late"! 6. Land went down not up, Wasn't sold.
This property had many problems such as:
Monthly rent was lowered approx.. $5,500 below original lease for tenant to survive
About 8,000 square feet (about 32' wide) of paved drives and parking, curb and
gutters along with major landscaping that you see to the north of the building exists
on two other properties that we do not own. They make no effort to maintain it. I
doubt the county knows that.
There is a broken concrete curb on north side and broken paving in west parking
Drainage at SE corner of site is terrible.
Have to replace missing landscape on 23rd and 34
One of the rooftop units needed repair.
Six exterior lights had to be replaced.
Several areas of stucco required repair along with windows &doors need caulking.
Concrete slab at south and west patios need raising 1" or replacement & caulking.
Doors on east side are in serious need of painting.
Glass @ south door to west: patio needs replacement.
Pergola need replacement.
Hello