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Home My WebLink About20172530.tiffAugust 9.2017 Petitioner. RAINIER ELK LAKES SC AQUISITIONS LLC 13760 NOEL RD STE 800 DALLAS, TX 75240-1307 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) TAX ADVISORS PLLC 203 SE PARK PLAZA DR STE 230 VANCOUVER, WA 98684-5884 RE. THE BOARD OF EQUALIZATION 2017, WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2017-2530 Appeal # 2008217034 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 R8403100 Stipulated - Approved Stipulated Value $2,277.873 $2.119 238 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 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 arbitrators 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. 4 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 x8403100 •-- i 'M Y w I e• . w 4! .-• r e w a♦• •• e. ► e f+ 1 1 f a* + r • r f w •-• .� a S• * i* r• + .r - r i s• t i r i i S • 1.. STIPULATION (As To Tax Year 017. - Actual Value) RE PETITION OF : I NAME: Rainier Elk Lakes SC Acquisitions LLC ADDRESS: 2819 35th Ave Greeley, CO 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 ofEqualization 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: OR ELM. L T C ELK LAKES SHOPPING CENTER PUD 1ST REPLAT 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 $2,277,873.00 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 2,119,238.00 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: Further review of all approaches to value indicated an adjustment.. 7. Both parties agree that: The hearing scheduled before .the Board of Equalization on 8/1/17 at 2:30 PM be vacated. DA hearing has not yet been scheduled before the Board of Equalization. 88403100 i • P - itio rye (s this 26th day of July, 2017. ele yen or At ney Address: aO.?) PistiK_Pi a.2A , k7r r ve, Telephone: '3 1,0 0-'751?-_(vnt-i- Docket Number Stip-1,Frm 88403100 (Assistant) County Attorney for Respondent, Weld County Boarof 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 2 4 • t Christopher M. Woodruff Weld County Assessor Ice N1 ' Ave Greeley, CO 80631 NOTICE OF DETERMINATION I I I • I IV Date of Notice: 6/3012017 • Telephone: (970) 353-384 Fax: (970) 304-3433 Office Hours: 8:00AM — 5:00PM' Ad-904ifttitic . i i.,s _ wy4 • :S. TAX• •`_ 1 � T ` r • • •.� LEGAL OESC PTI0 PH' IC LOCATION 'ION - a=_'._ +' e _ `'s, . •4..• ' 6 .• #.•:- . . .•--•• . . , .+ R8403100 a 201 T° i 8 • 9683 • GR ELSIR LOT D ELK LAKES SHt PP 1 CENTER PUD 1ST REPEAT TINIER ELK LAKES SC AQUISITIONB LL • • .. REC El ► ED . 2819 GREELEY 35TH AVE ' , CO ' J . JUL 162017 , 13.760 NOEL RD STE 0 DALLAS, TIC 75240-1307 RI .I. e e WELOCOUNTY .. .• e ..- • I COMMISSIONERS .. . • -..f i . .. .. .. __ �..• f - .S ; •• T .•, • . L. • t. • a , .i ., am,. , i Y •r 1 - • I ` • • ' .` `• `S• + . T •• •i,` • r S • I L �` • ' •I • l ••,• • • • • • • .. a •. .. .4 !, • . • trY , `.� tf • • i. P i •.. ' yt Y +i•` - i i r i. • .../.:.411:41:14 • +' • . :3,.-49:1;:! r . w _ L r a CIL• . •. 4 } • ! -• L w • ' ' • . • • • ` • I I . e i 'LLt•' I• ,A ESSOR's V�tATIoN- - - ,+w • .� , . •w wr`'•L •:f•• • � w . e 7 • • f•^• y • I . .• - • • - . • _ • r ay.- .,� w rcVALI E *R16R To. I ACTUALiy.ALUEMOt :;411'.: • RI •! i .4 1•• a .L L - .. - 9 er. ! Pt , .L . • • • .. e • REI w • a y' i f - 9r J+ COMMERCIAL • • k 4 2,277,873 I. 1 • ' 2,277,673 i ' q S. . • • • j• • • .•Ti • r • AL $2217 873 .... $2,271:8 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessors determination of value after review is. based on the following: I . • a L C 05 - The law requires that data firm Jan 2015 to June 2016 be used to establish cunt values. We have considered ali•three apploachcis to value and we have denied your appeal based upon this data:.. I If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equal' anon fir'further consideration, § 394406(1 a), CRS. The deadline for filing real property appeals is •July 1 5. ' r 4 I The Assessor establishes property values. The- local taxing -authorities (county, school district, city, fire _protection, and other special distiicth) Set mill levies. •The mill levy requested by each taxing authority is based on a projected budget, and the pro rty- 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 yearns tax bill or ask your Assessor fora listing pf the local taxing authti, • I atel" • •. Please refer to the reverse ide of this notice for additional information. - — - r !tide Agent (If Applicable): TAX ADVISORS PLLC 203 SE PARK PLAZA DR STE 230 VANCOUVER, WA 9868$5884 I 16-DPIAR PR 207-06113. R8403100 2017-2530 i APPEAL PR o CEDURES County Board of Equalization Hearings will 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 real; -file online, or deliver a copy of both sides of this form to: a. ti Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 Online:- http://www.co.vveld.co.usiabpsicboe/ • To _preserve your appeal rights,- your - Petition to the County Board of Equalization must be _postmarked Ors -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 grill k be notified • of the date and time scheduled for your hearing. The County Board of Bqu.lizatioh-' must mail, a written decision to you within five business .days following the date of the debi&ionc:- Thetbunty Board of Equalization must conclude hearings and render decisions by August 5, § 39-87107(2), D.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 Anneals 1313 Sherman Street, Room 315 Denver, CO 80203 (303) 866-5880 • www.do l a. colorado. govlbaa Binding Arbitration • For a list of arbitrators, contact the County Commissioners at the address listed for theeCounty Board of Equalization. District court Contact the District Court in the County where the property is located. See your local telephone book for the address and telephone number. If the date fors filing any report, schedule, claim; tax return, statement, remittance, or other document fails upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if 11led on the next business day, 39-1-120(3), CRS. _~ PETITION To .coU Nery BOARD OF:EQUALIZATION WEI What is -your estimate of the prrope 's value ae of June 30, 2016T (Your opinion of value in terms of a specific_dollar amount is required for realproperty pursuant to § 39-9-106(1.5), CRS.) c:. _ . _ , 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, ia., comparable sales, rent roll, original installed cost, appraisal, etc.) _ . } Actual value exceeds market based.on- economic oerformande as indicated in attached valuation analysis. We request a conference with the assigned appraiser. 1 r . r k . ATTESTATION - • r� ns undersis ned owner or agent1 of the property identified above, affirm that the statements contained herein ments hereto are true and complete. 880) 750-6884 7/14/2017 Telephone -Number - Date Email Address 'Attach letter of authorization signed by property owner. 16-DPT-AR PR 207-08/13 R8403100 13760 Noel Road - Suite 800 Dallas, TX 75240 214134.8200 phone ' 214.234.8201 fax www.rainiercapitaixorn May 24, 2017 Weld County Assessor's Office 1400 N 17th Avenue Greeley, CO 80631 I INiER I El Re: Rainier Elk Lakes SC Acquisitions LLC; dba Elk Lakes Shopping Center Schedule/Account Number(s): R8403000, R8403100, R8403200, R8403300,1 03500, 88403800 Dear Assessor: { Please be advised that Tax Advisors, PLLC1Meritax LLC is hereby authorized to represent us in real and personal property tax matters related to the above -captioned account for the 2017 and 2018 Tax valuation years. Greg Damieo, Portia Howard, Mike De Salvo, Marcus Dupont or Tristan Mudd with Tax Advisors, may be reached at (360) 750-6884. Addy, please mail all appeals -related correspondence to: Tax Advisors, PLLC 203 SE Park Plaza Drive, Suite 230 Vancouver, WA 98684 Thank you and please call with questions. Very Truly Yours, Sign 3. Kenneth Dunn Printed Name President_ Title • r I r; Ito SUMMARY OF VALUE ALLOCATION RECOMMENDATIONS ELK LAKES SHOPPING CENTER 2819-2867 35th Avenue, Greeley, CO 80634 Recommended 2017 Actual Value Original 2017 Actual Values for Taxes Payable in 2018 Account Land AV Improv. AV No. Parcel Noe Land % Total Improv. % Total Total AV I R8403000 095923102002 $2,040 100.0% $0 0.0% $2,040 88403100 095923102003 $557,325 24.5% $1,720,548 75.5% $2,277,873 ' vw• •.•rI �. • a.• �1 A.r4O ar �.r.a r- ..—r.r•.*.l - w "..I'irsnr• a+. •rJ�r • �. •••� V • eaman �� a... r • 1M•+•rir L e- ••• .......r . •..i .. ik.aa - •r.•• 1.4•r . • •1•a+... •vM.a.a s-'w.a�• Y •ate.• L- R8r403200 00592310200 $900 100.0% $0 0.0% 1R8403300 9959.23102095_ $447,630,. 25.4% $173,17,96? 74.5% i•!a.•.r4�• • • - - -T��.a�T�F.6.. �— ar r.- _ $900 $1,785,592 R8403500 095923102007 $1,934,562 25.2% $5,729`,375 74.8% $7,883,938 1RS403800_'095923102009 $5,580100.0% jaa.. a-,. flT••T• Y.l..•'F- L1 - a�lr--:r �•F• l�.r4'� Oar 4•• ••Y� �l.AYi •7a••,V �•rr••1�•\ arIliN-M 'r•TrI�Y��a^.•.'•J 1Y $0 0.0% $5,580 • TOTALS: 6 Parcels $2 948.037 25.2% $8 767 886 74.89/ 11 715 923 Land AV Land % Total Improv. AV Improv. % Total Total $2,040 100.0% $0 0.0% $2,040 $557,325 28.2% $1,420,075 71.8% are 1.4.ti.•l.a.+r -.w .!• r k..t • seanea/K.M. •M v t+.r•F ••1•r� ii s.•iMsnT.• n $900 100.0% $0 0.0% $1,977,400 1 •Asia• -•..•r • • a r..... .— .4 $900 $447,530 60-.6% •$291-,270 39.4% $738,900_I - ..�— e. s+••+.•« +•�'.b... -rVr.•raaa•••-ae-ri + il.a..-a -r$1,934,552 26.2% $5,456,138 73.8% $7,390,700 • . $5,580 100.0% i$0 0.9%. $2 948 037 29.1% $7 167 483 70.9% 10 115 520 XAMerittax\ColoradostRaktlerCapital Manageme aka Lakes shopping CenterWM X7.18 VA (Merltax - Elk Lakes Shoppkg Corytari.xlsrn TAX ADVISORS, PLLC Certified Public Accountants P2-1 ELK LAKES SHOPPING CENTER 2819-2867 35th Avenue, Greeley, CO Parcel No. R8403100 (Bldgs. #2819 6 Unit Size Unit # Tenant (SF) Type IN.LIIINt 'I t.t P1L wirLutraus C e!u e 1 0. Contract Lease Terms Annual Contract Rent. Begin End Mos - y Total SiSF Concluded Market Rent Yearly Total STSF T ri le Net) PHOTOS 2819 Vitamin Cottage Natural Foods 7,550 NNN Apr -10 Apr -20 120 2839A Mattress Liquidators 4,890 NNN Feb -01 Feb -21 241 a ; TOTAL Minimum J I l r Maximum INLHIER.ETAIL BUILDINGS 2855A 2$55E BE -CO -ME, LLC 20550 2855D 2867A Bowen Eye Care Clinic -a TOTAL' Minimum Maximum . e' sit i 2,000 7,550 -- as -a ■. -- -a $109,475 $84,525 -- $14.50 $17.29 R 1 4 000 15.59 .Feb -01 Apr -20 120 S84,525 $1450 Apr -10 Feb -21 241 1 5 17.2'. Sep3 5 _ S.. -2i 18 000 15.69 $109,475 $14.50 $83,130 $17.00 27 000 $13.50 21 $15.21 86=15% Occupied 86.15% Leased fr • • .2839 'Bui-lairtg Photo schedule No. 88403300 6,032 Mod. Gr. Aug -14 Feb -27 151 $28,350 $410 8,000 12 02 6,000 6:t2 6 016 NNN Oct -07 Dec -21 171 $84,000 $14.00 -- -- : ''1.12f 56 $9.34 Oct -07 Dec -21 151 $26,350 $4.70 ii Feb -27" 171 $84.000 $14.00 w Mar -11 Jul -24 161 $56,175 $9.35 $81746 $1.45 $84,000 $14.00 10 0 FOAM% Occupied 100,00% Leased 2855 Building Photo A, 4 -p. rejlt .JW 2867 Building Photo ar ANCHOR TENANT BUILDINGS Schedule No. 88403500 2825 2833 2859 2863 Office Depot, Inc. Petsmart, Inc. Car Toys, Inc. Rich Coll LLC Tt7TAL'RE#AiL Minimum Maximum ire ra ge 20,531 Mod. Gr, Oct -01 Oct -21 240 19,455 Mod. Gr. Nov -00 Jan -26 303 5,740 N N N Feb -01 Feb -21 241 23 223 NNN A •-13 Sep -23 122 68,949 -- -- $241,239 $228,596 $96,317 $255,453 $11.75 $11.75 $16.78 $11.00 %Si;6O6 $z1 1 £2 5,740 __ Nov -00 Feb 21 122 $96,317 $11.00 23,223 Aug -13 JaInI-26 303 $265,453 $1 6,78 17 237 -- M'a4 Mar -23 226 $205,401 $1232 $225,841 $11400 $214,005 $11,00 $80,360 $14.00 $255,453 $11,00 77 $'1125 100.00% Occupied 100.00% Leased N PROJECT TOTAL: _ _ 85A21 -- -= -$17,427;956 1;2..7 5iiO88.:Oi:O : AO DISCUSSION a' COMMENTS: 97r90%Occup'ed / Leased Asking rents for vacant spaces range from $13 to $14/SF (NNN). Market et rent conclusions adjusted all rents to triple net. Unit #2855A was crier, recently leased out at VINSF (NNN) over a 5eyear term with 2 -months free rent and $10/SF Ti allowance. The lease commenced on 6/6/2014. The Asset Manager believes that available space would fetch a $12.50 to $13.00/SF initial base rent, if they had interest. Unfortunately, the property has had no real interest in quite some time. X:\Metitix‘Cabrada\Ralnlr Capital IM a a enfant\£Ik Lakes Shopping Cent.rVIA\ 2017-18 VA (Medttax - Elk Lakes Shopping Csntarl.xkm TAX ADVISORS, P'LLC Certified Public Accountants P2-2 INCOME APPROACH ELK LAKES SHOPPING CENTER 2819-2867 35th Avenue, Greeley, CO 80634 Parcel No. R8403100 (Bldgs. #2819 & 2889) Rentable Rent/ Monthly Annual SF SF/Yr. Rent Rent Income Items Rental Income Pad-Inline (#2819) 7,550 $14.50 $9,123 $109,475 Pad-Inline (#2839) 6,890 $16.00 $9,187 $110,240 Pad-Inline (#2855) Pad-Inline (#2867) Anchor (#2825) Anchor (#2833) Jr._Anchor. (#2859) Anchor (#2863) MEM w Y w MAIN Y a - w Pot. Gross Rent (PGR) 14,440 $15.22 $18,310 $219,715 POT. GROSS INCOME (PGI) $15.22/SF $219,715 Vacancy & Credit Loss % PGI % EGI Per SF Total Rental Income 15.0% 17.6% $2.28 $32,957 EFF. GROSS INCOME (EGI) $12.93/SF $186,758 Estimated Expenses % PGI % EGI Per SF Total Net Operating Expenses 8.5% 10.0% $1.29 $18,676 NET OPER. INCOME (NOI) $11.64/SF $168,082 VALUATION OF INCOME - Parcel No. R8403000 NET OPERATING INCOME (NOI) Unloaded Capitalization Rate $168,082 + 8.50% Direct Capitalization Value $1,977,435 LESS: Contributory Value of Parcel No. R8403200 I l w Parcel No. R8403300 (Bldgs. #2855 & 2867 Rentable Rent/ Monthly Annual SF SF/Yr. Rent Rent w 6,032 $1.50 $754 $9,048 6,000 $14.00 $7,000 $84,000 -- M -- !.A Y -- Y 12,032 $7.73 $7,754 $93,048 $7.73/SF $93,048 % PGI % EGI Per SF Total 25.0% 33.3% $1.93 $23,262 $5.80/SF $69,786 % PGI % EGI Per SF Total 7.5% 10.0% $0.58 $6,979 I $5.22/SF $62,807 Parcel No. R8403500 (Bldgs. #2825, 2833, 2859, & 2863) Rentable Rent/ Monthly Annual SF SF/Yr. Rent Rent w w w •M•- OS MN -- 20,531 $11.00 $18,820 $225,841 19,455 $11.00 $17,834 $214,005 5,740 $14.00 $6,697 $80,360 23,223 $11.00 $21,288 $255,453 68,949 $11.25 $64,638 $775,659 $11.25/SF $775,659 % PGI % EGI Per SF Total 10.0% 11.1% $1.12 $77,566 $10.12/SF $698,093 ¶4 PGI % EGI Per SF Total 9.0% 10.0% $1.01 $69,809 I Parcel No. R8403100 $62,807 + 8.50% $738,911 $9.11 /SF $628,284 I Parcel No. R8403300 $628,284 + 8.50% $7,391,574 ($900) TOTAL. FOR ELKS LAKE SHOPPING CENTER Rentable Rent/ Monthly • Annualj SF SF/Yr. Rent Rent; 7,550 $14.50 $9,123 6,890 $16.00 $9,187 6,032 $1.50 $754 6,000 $14.00 $7,000 20,531 $11.00 $18,820 19,455 $11.00 $17,834 5,740 $14.00 $6,697 23,223 $11.00 $21,288 $109,475 i $110,240 , $9,048 $84,000 i $225,841 , $214,005 $80,360 $255,453 • 95,421 $11.41 $90,702 $1,088,422 j $11.41/SF $1,088,422 % PGI % EGI Per SF Total; 12.3% 14.0% $1.40 $133,785 I $10.00/SF $954,637 % PGI 9A EGI Per. SF [ Total' 8.8% 10.0% $1.00 $95,464 $9.00/SF $859,173 �w Parcel No. 88403300' • • $859,173 i 8.50%i $10,107,920 ($900), INCOME VALUE {rn 13 .94/SF $1,977,400 I $61.41 /SF $738,900 $107.19/SF $7,390,700 $106.92/SF $10,107,000 • X;\Medux \Cobrado\Rdtnler Capital Management\ESk Lakes Shopping CenterkVA\ 2017-18 VA (Mesta'- Elk Lakes Shopping Centerj•xtsm TAX ADVISORS, PLLC Certified Public Accountants P2-3 • , INCOME & EX'ENSE ANALYSIS ELK LAKES SHOP ING CENTER 2819286735th Avenue, Greeley, CO 80634 Year REVENUE (INCOME) Rental income Net Rental Income Additional I Other income Expense Reimbursements EFF. GROSS INCOME (EGI) OPERATING E .PE1 SES eal Estate Taxes Insurance Common Area Maintenance (CAM) NoneCAM Expenses Management %ofEGI Reserves %ofEGI TOTAL EXPENSES Expenses as % EGI NET EXPENSES After Reim!), Net Expenses as % Net Rent 2015 Actuals Total $/SF 2016 Half Year Actuals Total $ISF $1,252,097 $13.12 $577,017 $6.05 $341,710 $3.58 $1$0,618 $1.89 I 18-Mo. Annualized FTP2017 conclusion i Total $iSFL I Total i1t ! $1,222,759 $12.81 i $954,637 $10.00 $349,_175 $3.66 _.N $ISF • __ $1,593,807 $16.70 $757,635 $7.94 $7,571,935 $16.47 $954,637 $10.00 2015 Actuals _ 2016 Half Year Actua $244,52G $2.56 $18,055 $158,029 $23,608 $68,274 $1,908 $514,402 $172,692 $0:19 $1.66 $0.25 $0. 72 4.3% $a.02 2,0% $5.39 32.28% $1.81 13.79% $197,796 $32,245 $105,648 $9,078 $36,465 $1,908 $383,147 $202,523 $2.07 $0.34 $1.11 $0.10 $0.38 4.8% $0.02 2.0% $4:02 50.57% $2.12 35.10% i 18-Mo. Annualized $221,161 $33,626 $176,268 $21,851 $70,013 $2s552 i-_ $525,476 $176,301 $2.32 $035 $1.85 $0.23 $0.73 a 4.5% $0.03 2.0%1 $5.51 33.43°l01 $'x.85 14.42% I i a t i _. _._... 2017 conclusions 5 1 4, fir" wn gees wM ii I f , t r Eget Salt i I i $95,464 $i.00 E i0. 0'!/ * The Net Expenses ses as % of Net EGI considers the effective expense to the property y net the CAMAINN Charges as a percentage of the Effective Income before such charges. NET OPER. INCOME (NOI) $1,079,405 $11 .31 $374,494 $3.92 $9,046,459 $10.97 I $859,173 $9.00 XAMeritaikeoloradoVainkrCapitai MaflogernentVik Lakes Shopping CenterWAN, 201748 VA (Meritax - PS Lakes Shopping fiber .xisrn TAX ADVISORS, PLLC Certified Public Accountants P2-4 EXHIBIT 1 Historical Income & Expense Statement P2-5 21312017 11:09 AM Rent Roll Property: elk From date: 12/31/2016 By Property Property • , UJrritie - .Lease - - tease type Area Lease From Lease To Term Monthly Monthly Rent Rent Per Area Artnt►al Rent - Mnumi Rent Per Area Annum' ROC. Per Area Armlet Mkt - Per Area • .Security Deposit Letter of Credit Antetahl - elk - Elk Lakes Shopping Center,Greeley I _ 1 Current Leases I elk 2815 Home Depot USA, Inc. Retail Net Lease 0.00 6/12/1998 6/11/2050 624 0.00 0.00 - 0.00 0.00 0-00 0.00 0.00 0-00 elk 2819 vitaminVrtarnIn Cottage Natural Foods Retail Net Lease 7,550.00 4/21/2010 4/20/2020 120 9r122.92 1.21 109,475.04 14.50 5.10 0.00 0.00 0.00 elk 2825 Office Depot, Inc. 20,531.00. 10/29/2001 10/31/2021 241 20403.27 0.98 241,239.24 11.75 1.98 0.00 0.00 0.00 Retail Net Lease elk 2833 - lPetsmart, Inc. *1014 Retail Net Lease 19,455.00 11/2112000 1/31/2026 303 38,099,36 . 1.96 457,192.56 23.50 2.01 0.00 0.00 0.00 elk 2839A MattreSs liquidators, Inc Retell Net Lease 4,890.00 2/17/2001 212812021 241 7,043.75 1.44 84,525.00 17.29 4.83 0.00 0.00 0.00 elk �'A, 28556, 28550, BE -COME, LLC Retail Net Lease 6,032.00 8/6/2014 2/28/22027 151 2,362.50 0.39 28,350,00 4.70 1.66 0.00 3,466.75 0.00 elk ; 2854 Car Tom, Inc,. Retail Net Lease 5,740.00 7.115/2001 2;28/2021 241 8./026.43 1,.40 96,317.16 16.78 4.85 4.00 4.00 G.00 elk 2863 Rich Coll, LLC Retell Net Lease 23,223.00 8/17/2013 9/30/2023 122 21,287.75 0.92 255,453.00 11.00 4.78 3.41 23,233.00 0.00 elk I 2867A, 28678 Bowen Eye Care Olr,ic Retail Net Lease 6,000.00 10/1!2007 12/3112021 171 7,000.001 1.17 84,000.00 14.00 4.81 0.00 4,000.00 0.00 elk 28390 VACANT 2,000.00 0 0.00I 0.00 0.00. 0.00 0.00 0.00 0,00 0.00 Total Current i 95,421.00 1234046.00_ i 1.18 1,356,552.00 14.22 3.41 0.83 30,699.75 0.00 Total Units Total Area Percentage Monthly Rent Annual Rent _— Occupied 13.00 j 93,421.00 97.90 113,046.00 1,356,552.00 Vacant 1.00 2,000.00 2.10 0,00 0.001 Total j 14.00 95,421.00 113,046.00 1,356,552.00 Page loft EXHIBIT 1-1 P2-6 ELK LAKES SHOPPING CENTER INCOME STATEMENT 2016 RENTAL REVENUE COMMON AREA MAINTENANCE REIMBURSEMENTS REAL ESTATE TAX RESMRURSEMENTS INSURANCE REIMBURSEMENTS UTILITY REIMBURSEMENTS P'f OPERATING EXPENSES INTEREST INCOME TOTAL SQUARE FOOTAGE 95A21 $87,899 $27,018 $11,911 $655 $278 $0 $7 $80,157 $14,292 $10,318 $1,039 $278 $0 $7 $118,022 $14,230 $3,987 $724 $242 $90 $7 $87,776 $14,320 $10,510 $724 $242 $7,495 $6 2016 N JUN JUL AUG SEP $122,691 $ L4,230 $10,053 $1,009 $350 $0 $5 $80,471 $14,320 $10,507 $819 $2.56 $4,621 $7 50 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $+0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$0 $0 $0 $0 $0 $0 $0 TOTAL I PSF $0 $0 $0 $0 $0 $0 $0 $577,017 $6.05 $98,411 1.13 $53,385 0.66 $4,970 0.05 $1446 0.02 $12,206 0.13 $45 0.00 TOTAL REVENUE . $127,7 - • -$106,092 $143,303 $121,076- •r , 146,3+4,1 `•° $111,102 OPFRATING EXPENSES CLEANING LANDSCAPE SERVICES HVAC MAINTENANCE SECURITY/UFE SAFETY GROUND & LOT GENERAL R&M EXPENSE GENERAL & ADMINISTRATIVE MANAGEMENT FEES UTILITIES REAL ESTATE TAXES PROPERTY INSURANCE LANDLORD WON-PASSTHRU SO $1,998 So SD $18,586 $543 $550 $6,269 $3,122 $0 $0 $1102 $0 $1,998 $0 $o $13,765 $0 5575 $5,635 $4,161 $99,3$2 $0 $803 $o $1,998 $0 $0 $5,329 50 $688 $4,985 $3,197 $0 $0 $543 $0 $2,348 $0 $0 S9,409 $2A92 $75 $6,997 $2,691 $0 $0 $1,899 $0 $4,308 $0 $293 $4,004 $92 $165 $6,129 $15,619 $98,443 $32,245 S998 $0 $315 $0 $0 $2,833 $ 650 $720 $6,450 $4,095 $0 $0 $8.60 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 so $0 $0 Se $0 $4 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5757,679 7.94 $0 $0 $0 $o So $0 SD $0 $0 $0 $0 $0 $0 $22,966 $0 $293 $55,925 $3,678 - $2,773 $36,465 $32,786 $197,796 $32,245 $6,305 0.00 0.14 0.00 0.00��0yy 0.59 _ . . 0.04 0.03 038 0.34 .7 0.34 0.07 TOTAL OPERATING EXPENSES t : : • . - ' $32.272. ' $128 90 . $15,739 • • 7.5,711'-" $152 ' 7 1$,923 -: - .$0 . - $4 . . so a - • 381)32 - . 4.0 DEBT SERVICE & LENDER RESERVES SENIOR LOAN - PRINCIPAL PMT SENIOR LOAN - INTEREST PART TOTAL SENIOR LOAN - PRINCIPAL AND INTEREST • $95,496 ,563 .$95,3 - ($13,9156) $95,179- • $376,447 - . 3.95 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $43,195 $43195 540,408 $43,1 541,802 543,195 50 50 so $0 So $0 $0 $0 MEZZANINE LOAN PRINCIPAL INTEREST ($x,295) ($43,195) ($40,408) ($43,195) ($41..802) ($43,19S) ($15,000) ($25,000) 015,000) ($15,00111 ($13,000) ($12,187) $0 $0 $0 $0 $0 $0 $0 $0 $0 $o $0 (x,990) ($87,161) 0.00 2,67 (2,67) (1.91) - TOTAL DEBT SERVICE • e - • 3 ($59,195) ($59,195) ($55, ) - 919SI 6,802 �( -• . $0 - - _ $0 . $342 In 3.59). TENANT IMPROVEMENTS LEASE COMMISSIONS CAPCTA.L IMPROVEMENTS $0 $0 So $0 S4 so $0 $0 $0 $0 • $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0.00 0.00 0,40 LEASING COSTS / DC • $a $0, _ $ • $0 $Q - - •gip - 0.00' CAPITAL IMPROVEMENTS j RESERVE IMPACT TI/L.C j RESERVE IMPACT RE TAX RESERVE IMPACT INSURANCE RESERVE IMPACT SO so S0 so $0 $121,345 ($6,714) ($6,714) ($6,714) ($6,715) ($6,715) ($6,714) ($20,829) $78,523 ($20,829) ($20,289) $71,287 ($20,829) $1,580 $1,580 $1,580 $1,590 $30845 $1580 $0 $0 $0 $0 $0 $0 SO $0 $0 0 so $0 $0 $0 $0 $O $0 So SD $0 $0 SENIOR•LOAN RESERVES. • • • 5121,345 ($40,264) $67,034 $2!2,946 $171,042 1.27 (0.42) 0.70 014 '1.79 CASH ROW AFTER iii F, I sip, Viet ,' RESE R'VES CSC Fees' COTax Payments DE Tax Payments C6TRIBUTtONS NET PROPERTY CASH FLOW • $$,119 (510,11,41.2. • $4#,032 ` $$,$e5 $24,660 $132,d19 $0 • 5205,31.2! . 2:15 $25,000 $25,000 $344 $24,656 $5,502 519,496 $1,200 $23,800 $150,000 $344 0.00 $5,502 0.06 $1,200 0.01 $267,9.4 2,81 -($16,8 21)• -:` ($33,164} 517,032 _ : Sims). : ($3,40) ' 4517,981) `. ($491) - (0.73) EXHIBIT 1-2 P2-7 ELK LAKES SHOPPING CENTER INCOME STATEMENT 2015 RENTAL REVENUE COMMON AREA MAINTENANCE: REIMBURSEMENTS REAL ESTATE t.AX REIMBUR15EMBIM INSURANCE REIMBURSEMENTS Llillf Y REIMBURSEMENTS PY OPERATING EXPENSES B4TIREST INCOME 5325,315 $15,519 $11,910 $1,048 $273 56,502 $0 $95,582 $13,558 $11,542 $291 5159 $0 $4 5122,431 516,860 $12,909 $738 5297 $0 $63 APR * MAY _ !UN 577,384 $11,68'7 $11,459 $603 $278 $0 $0 $128,792 $15,366 $13,663 $831 $300 $0 $8 $75,393 $]3,778 $11,459 5655 5278 $4,975 St JUL _ AUG St;P • $103,101 $14,949 $12,992 5739 $278 $1,653 5$ $93,394 $10,838 $11,459 $5 $278 $0 $8 $175,636 $10,334 $11,970 $683 $278 $0 St $108,479 $8,634 $13,481 5711 $277 51 $O $83,442 510,334 $10,818 $655 $279 $1,092 $9 TOTAL 5 WAR E FoOTA QE 95421 $107,141 $1.3,377 $11,911 $655 $278 $15,539 $9 $1,252,097 $13.12 $155,694 1.63 $244,632 1.52 $8,264 0.09 $3.358 0.04 $29,762 031 $130 ' TOTAL REVENUE p161,691 $121,632 - $153 99 ' $101,411 158,960 $106,,551 $133,720 $121,✓632 • $148,910 $130,591 $1 629 $1 11 S3,5 37 •1(1,70 OPFRATING EXPE-NSES CLEANING LANDSCAPE SERVICES NYAC MAINTENANCE SECURITIFJLIFE SAFETY GROUND & LOT GENERAL R&M EXPENSE GENERAL & ADM1N1STR.A,TIVE MANAGEMENT FEES UTILITIES' REAL ESTATE TAXES PROPERTY INSURANCE LANDLORD NON-PASSTHRU SO 50 $0 $0 $0 50 *50 $5,27$ $1,721 So $o $o $0 $8,597 $0 $0 $24,692 $388 $165 $7,199 $ 6,722 $119,023 - $0 $ 2,291 $0 $1,998 $0 $1,150 $18,156 $268 $2,933 $5,451 $4,376 $0 $0 $930 $0 $1,998 50 $0 $4,845 $231 $550 $4,544 $1,775 50 SO $753 $0 $2,145 50 $0 $2,763 50 $843 $4,845 $ 9,926 $0 $185 $1,665 SO $0 $o SO SO $0 $3,154 $6,571 $4,035 $119,013 $0 $30'7 So $$019 $o $0 53,087 $198 $550 $4,9.39 $3,917 $613 $0 $938 $0 $3,776 $o $0 $1547 $0 $2,500 $6,448 $5,324 $0 $0 5744 $0 $107 $O SO $1,743 $0 $1,966 $5,451 $5,'000 SO So $820 $0 $2,403 $0 $1,544 50 $345 $6,769 $4,922 $sIeGE $0 $155 $0 $1,998 So SO $4,622 5143 $590 $5,720 $3,149 $0 SO $2,148 $0 So $5,733 $80 $1,816 $5,001 $2,564 So $0 $984 $0 $38,1#4 $0 $1,150 $68,932 S1,129 $13,458 $68,274 $.13,571 $244,526 518,05$ $10,150 0.00 0.35 0.015 0.01 0.72 0,01 0.14 0.72 0.56 256 0.19 0.11 • TOTAL OPERATING EXPEht$ES- ' - - •I $7,A -- ; $169277 $35,252 . 514,697. . $40,242 5131,085 $22,320 $20,338 . : $15,085 . $22.006 .. $148'86 $18,24s t $512,493 -. 537 NET OPERATING INCOME OEBT SERVICE & LENDEP RESL-.L'ES SENIOR LOAN - PRINCIPAL PMT SENSOR LOAN - INTEREST PMT TOTAL SENIOR LOAN - PRINOPALAND INTEREST MaZANINE LOAN Pitman & INTEREST $154,643 645) $119,017 714 $118,738- • ($24,539) 5111,400.. - $.10'1,295 $133,1124- •' $108,585 So "50 So So $ o $o S0 SO • 589,742 moo,. $1' So $o $o ($43,19j) (S43195) ($)9,015) ($-43,195) 45.41,2011 (S43 1951 ($41,802) _ (.$43,1951 . ($43,19) ($41,x') ($43,195) ($41,802) ($43,195) ($43,195) ($39,015) ($22,601) ($15,000) ($15,004) ($43,195) ($41$I21 (4,195) (50•802) ($45,195) ($43,195) f$41.804 ($43,195) ($41,0, (515,000) ($15,000) 015.000) ($15,000) ($15,000) 015,000) ($15,000) ($15,000) ($1,000), 51,081,E $0 (Ssols86) 0308,566) (5187,691) 1133 0.00 33 (S,33) (1.97) TOTALDE$T5ERV10E � 65 6 5 15 5588 S 195 - 56 2 195 $58 195 $696,2 ,3 TENANT IMPROVEMENTS LEASECOMMISSIONS CAPITAL IMPROVBMENi5 $0 SO So $0 $D ($233) So So [S45,000 $0 $o $0 $0 $0 $4 $0 $0 $0 $o $o $o $0 $0 $0 $0 $0 S0 $0 $O $0 $0 SO $93,910) ($43,223) $o ($43,356) $13$ 10 0,00 (0.45) (1.46) LEASING COST'S/ CAP' EX • ‘ $0 404) . •$2331 SO 58 $0 - $0 • • • So •.• $O . 50 ($93$10] ($43,1?. •[$1ILf266) (1,91) CAPITAL IMPROVEMENT$/ RESERVE IMPACT T AC / RESERVE IMPACT RE TAX RESERVE IMPACT INSURANCE RESERVE IMPACT $0 $o ($6,707) 66,'944) (520,218) $9$,&155 01,418) ($t618) So $0 $0 ($6,765) ($6,707) ($6,715) ($20,214) (520,218) (510,21$) ($1,4►) ($1,018) $16.437 $0 ($6.7141 $9&805 (5.1,618) S+0 So $o So 5145,295 So ($6,715) ($6,715) (56,71.51 0.7151 ($6,715) (549,0 (520,218) (520,218) (520,829) ($20,829) ($20,829) ($20,829) (51.618) ($1,580) ($1,580) ($1,580) 151.580) 1.52 (130) (0,47J (0.01) _SD1IOll LOAN MEMO - - - _ . - - __ __ $1,'41]_$? ,247 - - 11VAS) .11$28.$42) ' (71 5 ' $9(7A73 �_ . , '5'0] . - flanzilisi2s,pg . Siloam }Snick n,2dck __ - $13,2411 I 0.14' CASH FLOW AFTER DEBT SERVICE / RESERVES $64,214 • :($15,594 . -535,5.54 (523) _ LUAU - .$7,743r x,648 $a4450 564$10 522,660 I $041,718 $1,616 1 • $216,148 j 217 I DISTRIBUYI ONS $25,000 $25.000 573,003 $25,000 $25,000 525,000 $73, $25,000 $25,100 $25,0X1 $25,000 $25,000 $300,000 4,14 NE f PROPERTY CASH FLOW - $3,5,214 ($40,592) $10,554 ' (0131 ($17.257) $1,048 ($10,450} $21,503 (52,•40) $122, (523,384 - (0.68) It YID BUDGET YTD VAR IA NCE $1,106,842 $145,255 $1.82,748 ($27,054) Sias 6$ $18,754 $11,5441 ($3,280) $8,412 ($5,054) $76,057 ($46,295} $11 $130 $1, 511,471. . $82,466, $1,600 $1,600 x,376 ($3,613) $1,844 $2,844 00 (5350) $65,700 ($3232) S12,896 $11,667 59,170 ($4,288) $'69,460 $1,18.6 $34,125 ($19,404) $241.614 ($1;912) 522,244 54,189 _ $11330 $5,180 ;5069 -- •-1S6,334 -Suctos,312 ` , $76,131 EXHIBIT 1-3 P2-8 iiiuvrnii i 7016 3010 fl0O1 0625 61551 - - • J. • 4 I 4C ,1 • - !• •j • Y N •lawlf'++r+n'A?•+;• ` #irAleaa++s•dw94;+Z+«wv;:bo:� ntipaStl if 07/1412017 us POSTAGE First Class Mail rip TAX ADVISORS aBZWIIIMMISI V. }t¢4ISSIGVil LIMlIt. tIi$ILit7 (4iiPAST 203 SE Park P\aza Drina Susie 230 Vancouver, WA 98684 Ship to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley$, CO 80631 ica• re_a '°E At a 11' "-•i`. -'.. .. 1.c N 1y 4 k'► 7M'� � 'l�,•• :"cZ' r ° • ftate �� "y?,• '.1 •' s!'^X' );;I pis:- � • _� • 6 • , _ 1 t i ffinartASS MAL $007. 5fl2 ZIP 98654 041M10263346 tt •* w• �./�.�.11 i[1•by i S/ iiu`'..•f .�► '� .. 4 •Y• i a. f ., July 21, 2017 Petitioner: RAINIER ELK LAKES SC AQUISITIONS LLC 13760 NOEL RD STE 800 DALLAS, TX 75240-1307 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): TAX ADVISORS PLLC 203 SE PARK PLAZA DR STE 230 VANCOUVER, WA 98684-5884 RE: THE BOARD OF EQUALIZATION 2017, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket #: 2017-2530, AS0097 Appeal #: 2008217034 Hearing Date: 8/1/2017 2:30 PM Account(s) Appealed: R8403100 Dear Petitioner(s): The Weld County Board of Equalization has set a date of AUGUST 1, 2017, at or about the hour of 2:30 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2017, and mailed to you within five (5) business days. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of County Commissioners cc: Christopher Woodruff, Assessor Hello