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Home My WebLink About20152272.tiff 1861 y CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 7.17 "CtrErrAD FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET CO U N T Y P.O. BOX 758 -- GREELEY CO 80632 September 2, 2015 METAL SALES MANUFACTURING CORP 545 S 3RD ST STE 200 LOUISVILLE, KY 40202 RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R4573406 Dear Petitioner: On July 30, 2015, 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 your request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2015. The Board of Equalization found that the evidence presented at the hearing supported the stipulated value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $7,126,650.00 $6,600,000.00 The above 'Stipulated Value' is the value which will be used in the calculation of your property p p p Y taxes for 2015. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Very er� truly��ul( yours, `r� t, 4ett DLO;e,e Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor REAL PROPERTY TAX ADVISORS 575 PHARR RD NE UNIT 52846 ATLANTA, GA 30355-4073 2015-2272 AS0091 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R4573406 STIPULATION (As To Tax Year_2015,_Actual Value) RE PETITION OF : NAME: Metal Sales Manufacturing Corp. ADDRESS: 7990 E I-25 Frontage Rd. Frederick Petitioner(s)and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2015 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: L1A BLKI FREDERICK WEST BUSINESS CENTER 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 2015: Total $7,126,650.00 4. After further review and negotiation, Petitioner(s)and Weld County Assessor agree to the following tax year 2015 actual value for the subject property: Total $6,600,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2015, 6. Brief narrative as to why the reduction was made: Further review of the market indicated an adjustment. 7. Both parties agree that: OThe hearing scheduled before the Board of Equalization on(Date)at (Time) be vacated. ►1A hearing has not yet been scheduled before the Board of Equalization. R4573406 1 2015-2272 0,e,. GAS -7/94 /yoaq) DATED this 20th day of July, 2015. Petit orier(s) or Agent or Attorney PS (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: Address: Pgeoffer1 7 A nsoe-s 1150 "O„ Street s-75""PH/tom i o*-) po ,sox cz reC P.O. Box 758 A. -i., ,, 1034"'5' Greeley, CO 80632 Telephone: 1'tv-3 St6 t 7 Telephone:(970) 336-7235 Count ssessor Address: 1400 NA 7th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-1.171m R4573406 2 NOTICE OF DETERMINATION RECEIVED Christopher M. Woodruff .JUL 1 20� Date of Notice: 6/30/2015 Weld County Assessor Telephone: (970) 353-3845 1400 N 17th Ave WELD COUNTY Fax: (970) 304-6433 Greeley, CO 80631 COMMISSIONERS Office Hours: 8:00AM-5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION R4573406 2015 1459 FRE FWBCRA L1A BLK1 FREDERICK WEST BUSI NESS CENTER RPLT A EXC W1.68AC HWY ALSO cc w METAL SALES MANUFACTURING CORP EXC BEG NW COR SEC S0D07'E 29.66'N89D53 • 545 S 3RD ST STE 200 'E 50 N89D29'E 172.65'S20D46'W 218.73' O LOUISVILLE,KY 40202 TO TPOB TH S03D56'W 113.08'N0D02'W 92.1 3'TH N20D16'E 22.13'TO TPOB w a O 7990 E 1-25 FRONTAGE RD cc a. FREDERICK,CO 000000000 ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 7,126,650 7,126,650 TOTAL $7,126,650 $7,126,650 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: CM05- The law requires that data from Jan 2013 to June 2014 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, § 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): REAL PROPERTY TAX ADVISORS 575 PHARR RD NE UNIT 52846 ATLANTA, GA 30355-4073 �► C• �}u "7//5 6000-0155 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 29 through August 5 at 1150 O Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 10, §39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.00v/baa telephone number. Binding Arbitration r listed for hCounty Board For a list of arbitrators, contact the County Commissioners at the addressthe oa d of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2014? (Your opinion of value in terms of a spQ4c00d�r amount is required for real property pursuant to§ 39-8-106(1.5),C.R.S.) D 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.) CoM, Stc. P/use scc ATTESTATION I,the undersigned owner or agent' of the property identified above, affirm that the statements contained herein an any attachments hereto are true and complete. 110-320-36g1 7(r 3 rt s" nature Telephone Number Date Lvwo /r difiltrir'ty Iisof3.ca►µ- mail Address ' Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/13 R4573406 8431049 Agent Authorization TO STATE,COUNTY, CITY&OTHER PROPERTY TAXING JURISDICTIONS,ADMINISTRATIVE REVIEW BOARDS,TAX COMMISSIONS AND/OR COLLECTION ENTITIES IN THE UNITED STATES OF AMERICA: Real Property Tax Advisors,575 Pharr Road#52846,Atlanta, GA 30355,404-816-2050, its agents and employees are hereby appointed as our agents with the authority to: 1. represent ownership in matters of property taxation for certain real and/or personal property identified below and owned or occupied by the undersigned taxpayer, 2. file appeals and correspond with and/or meet with the taxing authority regarding an assessed value. This authorization shall remain in force and effect until revoked in writing. It is acknowledged that Real Property Tax Advisors could be advocating a reduction in assessed value through the appeal process and that the fee charged may be results based. Signed the z>26 day of /1/1b4.7 ,2015. Tax Year: 2015 Account/Parcel#: 131326201007 Taxing Authority: Weld County Address: 7990 E I-25 Frontage Road, Frederick,CO Legal Owner: Metal Sales Manufacturing Corp. Accepted: Metal Sales Manufacturing Corp. BY Print Name: Everett Martin Its:Tax Manager Date: / State of 4.1 County of Before me, a duly commissioned Notary Public within and for the State and County aforesaid, personally appeared , known to me to be the person who signed the foregoing instrument and acknowledged to me that (s)he signed the same for the purposes and consideration l ) expressed therein, and in the capacity therein stated. Signed this OCtU day of , 20 . ELIZABETH LEFTWIC otara u lic NOTARY PUBLIC My commission expires: STATE AT LARGE KENTUCKY MY COMMISSION EXPIRES JAN. 14.2019 • Real Property Tax Advisors RECEIVED JUL 15 2015 July 13, 2015 WELD COUNTY Weld County Board of Equalization COMMISSIONERS 1150 O Street, P.O. Box 758 Greeley, CO 80631 RE: Application for Changed Assessment -2015 PID(s): 131326201007 Account: R4573406 To Whom It May Concern: Enclosed, please find the following documents for each above referenced property: 1. Appeal Form 2. Agent Authorization Form for TY 2015 3. Sales Comps & Detail Please do not hesitate to contact us if you have any questions or concerns. Sincerely, Jaso . Harwood c/o Real Property Tax Advisors (770) 380-3687 575 Pharr Road#52846 Atlanta, Georgia 30355 Toll Free 866.816.2244 Office 404.816.2050 Fax 404.816.7279 www.realpropertytaxadvisors.com O) Ln N (O x- O) M 00 O N- N N LL (O - to EA Ef} EA- Zil. •- N d' teEf} 69 coo O O E O O O (4 7 7 c ✓ O O N £ E L O .L, d- co , C .co Q d 4Mf: 22 N a) enu) y d 00 co co i o ea y' L O Cl H? K> EA Q C. £ 0 in m 0E ° co W O U Eft c OV (.) — II O N a) - - Q *k D = a) ins = aQ N = = cn �t C M Q („) ER iii ati co � � o �a o ▪ o tic() V O (NNW)W) a) G N CO N"" a ro CAco CNI in N M CU L. RI (J s C4 '5 M < N- M L() 0 E G) N lf) M CO a N N e- O EZ _ m v E _ in a) o e > U) i a o o 0 O O O 0 V _ >7% CS d QON V C ` Z ti (O • t� co O N O w d N- M U ca o a) 73 .a .5 .- O O I— .7) LL -o in co N > Et 'Li en �' *L o v)a) y L' L a) O a) C 0) 0) ~ Q13 o li U o O Lo COM J N COE W CO O O) O) ti 259 30th St SOLD Greeley,CO 80631 Sale on 4/15/2014 for$4,400,000($13.69/SF)-Research Complete 321,390 SF Class B Manufacturing Building Built in 1984 CO 29th St ABranch 85 • 30th St ss' 5rJ4 /rJ3 t microsofe 31st St Virtual Earthy' J3r.,:ts li r s th L'ry:c�'u:. J'.Lt iLl'17 t ii Buyer&Seller Contact Info Recorded Buyer: CJBL Land Limited LLC Recorded Seller: Norwest Publishing Co True Buyer: All American Pet Proteins True Seller: RR Donnelley&Sons Company Craig Broughton Thomas Moran John Landers 111 S Wacker Dr 259 30th St Chicago, IL 60606 Greeley,CO 80631 (312)326-8000 (303)595-4440 Buyer Type: Corporate/User Seller Type: Corporate/User Buyer Broker: Citywide Commercial Properties,LLC Listing Broker: Binswanger Matt Capecelatro Alexis Lambeth (303)860-1400 (919)987-2926 Eric Dienstbach (303)779-4345 Transaction Details ID:3010012 Sale Date: 04/15/2014(1,084 days on market) Sale Type: Owner/User Escrow Length: 45 days Bldg Type: Manufacturing Sale Price: $4,400,000-Confirmed Year Built/Age: Built in 1984 Age:30 Asking Price: $10,700,000 RBA: 321,390 SF Price/SF: $13.69 Land Area: 25.70 AC(1,119,492 SF) Price/AC Land Gross: $171,206.23 Percent Leased: 100.0% Tenancy: Single Percent Improved: 93.8% Sale Conditions: High Vacancy Property Total Value Assessed: $2,478,440 in 2014 Improved Value Assessed $2,324,390 Land Value Assessed: $154,050 Land Assessed/AC: $5,994 Financing: $7,418,000.00 from Colorado Business Bank Legal Desc: See deed Parcel No: 096120101015 Copyrighted report licensed to Real Property Tax Advisors,LLC-614676. 7/13/2015 Page 1 259 30th St SOLD 321,390 SF Class B Manufacturing Building Built in 1984(con't) Document No: 4009580 Transaction Notes The 321,390 SF industrial building located at 259 30th Street in Greeley,CO sold on 4/15/2014 for$4,400,000. The property was vacant close to a year prior to closing,no additional conditions of sale were reported and it was considered a market value transaction. Financing was obtained for improvements and modifications to the property but it was reported the owner was going begin to move in immediately. Information contained in this comparable has been confirmed with the brokers involved in the transaction. They confirmed the location, size,date,parties involved, and price. Information was also based on recorded documents and county assessor information. Income Expense Data Expenses -Taxes $187,256 -Operating Expenses Total Expenses $187,256 Current industrial Information ID:763770 Bldg Type: Manufacturing RBA: 321,390 SF Bldg Status: Built in 1984 %Leased: 100.0% Rent/SF/Yr: $4.50 Stories: 2 Bldg Vacant: 0 SF Total Avail: 130,494 SF Building FAR: 0.29 Warehouse Avail: 130,494 SF/5,000 ofc Office Avail: 0 SF CAM - Max Contig: 130,494 SF Zoning: I-M Smallest Space: 130,494 SF Owner Type: Corporate/User Land Area: 25.70 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 30'0" Column Spacing: 60'w x 60'd Loading Docks: 9 ext(bldg.total) Levelators: 9 ext Cross Docks: No Crane: 3/2 tons Drive Ins: 2/10'0"w x 14'0"h(total) Const Type: Reinforced Concrete Sprinklers: Wet Rail Spots: 6 ext Rail Line: Union Pacific Railroad Expenses: 2014 Tax @$0.58/sf Power: 9999a/480v Parking: 164 free Surface Spaces are available Features: Mezzanine Location Information Metro Market: Denver Submarket: Weld County Ind/Weld County Ind County: Weld CBSA: Greeley,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Copyrighted report licensed to Real Property Tax Advisors,LLC-614676. 7/13/2015 Page 2 3333 E Center Dr SOLD 2 Milliken,CO 80543 Sale on 3/4/2014 for$3,600,000($28.15/SF) 127,865 SF Class B Manufacturing Building Built in 2000 County Road 48 1: 1 d' Center Dr V 0 r, State Highway 60 State Higt 500 yrJ, MKrosoft` t Virtual Earth"" yba jimrr.:r,e t:Lit • aLutat. a Buyer&Seller Contact info Recorded Buyer: Bayou Oil Services Recorded Seller: All American Homes of Colorado,LLC True Buyer: Bayou Well Services True Seller: All American Homes of Indiana,LLC Brett Agee Steve Scheinkman 800 Gessner Rd 1418 S 13th St Houston,TX 77024 Decatur, IN 46733 (713)935-8900 (260)724-9171 Buyer Type: Corporate/User Seller Type: Corporate/User Buyer Broker: DTZ Listing Broker: Newmark Grubb Knight Frank Travis Ackerman Steve Fletcher (970)267-7720 (303)260-4254 Mike Wafer (303)260-4242 Russell Gruber (303)260-4253 Transaction Details ID:2972061 Sale Date: 03/04/2014(148 days on market) Sale Type: Owner/User Escrow Length: 120 days Bldg Type: Manufacturing Sale Price: $3,600,000-Confirmed Year Built/Age: Built in 2000 Age: 14 Asking Price: $4,300,000 RBA: 127,865 SF Price/SF: $28.15 Land Area: 23.32 AC(1,015,819 SF) Price/AC Land Gross: $154,373.93 Percent Leased: 100.0% Tenancy: Single No.of Tenants: 1 Tenants at time of sale: Bayou Workover Services Financing: Down payment of$3,600,000.00(100.0%) Parcel No: 105707001001 Document No: 3999876 Copyrighted report licensed to Real Property Tax Advisors,LLC-614676. 7/13/2015 Page 3 3333 E Center Dr SOLD 127,865 SF Class B Manufacturing Building Built in 2000(con't) Transaction Notes The listing and buyer's broker verified the 127,865 SF building sold for$3.6 million. This was an all-cash transaction. There were no conditions to the sale. A seller contact reported they no longer needed the building as the Colorado operations consolidated with the Indiana location. Income Expense Data Expenses -Taxes $140,481 -Operating Expenses Total Expenses $140,481 Current industrial Information ID:5918625 Bldg Type: Manufacturing RBA: 127,865 SF Bldg Status: Built in 2000 % Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.13 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: - Smallest Space: - Owner Type: Corporate/User Land Area: 23.32 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 24'0"-30'0" Column Spacing: - Loading Docks: 11 ext(bldg.total) Levelators: None Cross Docks: No Crane: 6/1-5 tons Drive Ins: 3/12'0"w x 16'0"h(total) Const Type: Steel Sprinklers: - Rail Spots: - Rail Line: None Property Mix: Office 6,964 SF (5.4%) Expenses: 2014 Tax @$1.10/sf Power: 1200a/277-488v Parking: 200 free Surface Spaces are available; Ratio of 1.34/1,000 SF Features: Fenced Lot,Signage Location Information Metro Market: Denver Submarket: Weld County Ind/Weld County Ind County: Weld CBSA: Greeley,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Copyrighted report licensed to Real Property Tax Advisors,LLC-614676. 7/13/2015 Page 4 Hello