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Home My WebLink About20152438.tiff BOARD OF ASSESSMENT APPEALS STATE OF COLORADO NOTICE OF HEARING SCHEDULE NO. R3635305 DOCKET NO. 66442 Petitioner(s): Tax Year(s): 2015 AUTOMOTIVE SERVICES INC. RECEIVED V. Respondent: OCT 2 9 2015 WELD COUNTY BOARD OF EQUALIZATION WELD COUNTY COMMISSIONERS The Board of Assessment Appeals will hear the above-captioned matter: Date: March 8, 2016 Time: 8:30 AM Mountain Time on a trailing docket Location: 1313 Sherman Street Room 315, 3rd Floor Denver, CO 80203 Time Allocated: 2 hour(s) per side PLEASE TAKE NOTICE: The Board of Assessment Appeals uses a one-day modified trailing docket. Several cases are scheduled for hearing at 8:30 am each day. Cases are heard in the order determined by the Board, with the first case commencing at 8:30 am. At the completion of the first case on the docket, the Board hears the second case on the docket. The Board proceeds through the docket in this manner until all cases have been heard or until insufficient time remains to fully hear the remaining cases on the docket. Cases not heard will be continued to another day. You are required to appear for your hearing at 8:30 am on the date noted above and remain until your case is heard or continued, unless the Board removes your case from the trailing docket and schedules your case for a specific time later in the day. A list of cases removed from the trailing docket will be available at least one week prior to the hearing date. If your case is removed from the trailing docket, you are required to appear at the specific time scheduled by the Board. Please check the Hearing Schedule on the Board's web page or call (303) 864-7711 p 9 within one week prior to your hearing date to determine if your hearing has been scheduled for a specific time on the hearing date. If the Petitioner is a closely held entity as defined in CRS 13-1-127, the Petitioner must be represented by either an attorney licensed in Colorado or an officer of the entity. If the Petitioner is a domestic or foreign entity that is not closely held, as defined in CRS 7-90-102, an attorney licensed in Colorado must represent the entity in all legal proceedings before the Board. Pursuant to Board Rule 11, documentary evidence and witness lists must be received by the Board and the opposing party no later than February 23, 2016. If this date falls on a State Holiday, the documentary evidence and witness lists are due the following working day. Petitioner's Representative of Record: Mailed: October 23, 2015 STEVENS &ASSOCIATES INC TODD J. STEVENS 9635 MAROON CIRCLE, SUITE 450 ENGLEWOOD, CO 80112 I/-11" 2e: &t, I q JL/3$ ,45©09/ • For Office Use Only PETITION TO STATE BOARD OF ASSESSMENT APPEALS 1313 Sherman Street, Room 315 Phone: (303) 866-5880 Docket No. Denver, Colorado 80203 Fax: (303) 866-4485 Fee: Y N September 1, 2015 Date: R EC ii Mbcard H Property Owner: Automotive Services Inc. SEP 0 8 2015 Subject Property: 8337 Raspberry Way Frederick WELD COUNTY Street Address City COMMISSIONERS Schedule Number(s): R3635305 Attach separate sheet if necessary Weld M Board of Equalization Appeals the decision of the ❑Board of Commissioners Dated: August 6, 2015 County ❑State Property Tax Administrator This Appeal concerns: Valuation ❑Refund/Abatement ❑Exemption ❑State Assessed Tax Year: 2015 The subject property is currently classified as: ❑ Agricultural ❑Commercial ❑Exempt ®Industrial ❑Mixed Use ❑Natural Resources ❑Oil &Gas ❑Personal Cl Possessory ❑Producing ❑Residential ❑State Assessed ❑Vacant Land Interest Mines Actual Value assigned to subject property: $8,492,070 Petitioner's estimate of value: $6,500,000 Estimated time for Petitioner to present the appeal: minutes or 2.0 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: ❑Petitioner will be present at the hearing ❑Petitioner will appear by telephone ®Petitioner will be represented by an agent Petitioner is responsible for calling the Board at 303-866-5880 ❑Petitioner will be represented by an attorney on the scheduled date and time of hearing(Mountain Time Zone) ❑Petitioner would like to appear by video conference Petitioner must contact the Board at 303-866-5880 at least 20 days in advance of the scheduled hearing to confirm availability of video conference equipment.is responsible for calling the Board at 303-866-5880 If the property owner is an entity, it must appear under the representation of an attorney licenses 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$10,000,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$10,000.A trust filing a petition after 12/31/2010 must be represented by an attorney and must pay a$101.25 filing fee. Filing Fee: ❑ None Petitioner is appearing pro se (self-represented) and has not filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). ❑ $33.75 Petitioner is appearing pro se (self-represented) and has filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). ®$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 assessor did not properly consider the Cost,Market and Income approaches to value or aspects of the property in question. C,Gzm irad411A a0I5- 7L/3 9- eG' _91 As oo9 Required attachments to this form: ❑ Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial ® Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator Attachments required under certain circumstances: ® A notarized Letter of Authorization if an agent will be representing Petitioner ❑ A list of names, last known addresses and telephone numbers of co-owners or parties directly interested in the subject property if applicable. Certificate of Service I hereby 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: ®Board of Equalization Weld ❑Board of Commissioners County El State Property Tax Administrator at the following address: 1150 O. Street, P.O. Box 758 Greeley, CO 80632 on September 1, 2015 Date I hereby 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 all co-owners or parties directly interested in the subject property on _ Date I hereby certify that four(4) true and correct copies of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed or hand delivered to the Board of Assessment Appeals at 1313 Sherman Street, Room 315, Denver, CO 80203 on September 1, 2015 Date (One copy may be faxed to the Board but the original and two additional copies must be mailed or hand delivered.) Petitioner's Mailing Address is Required Even if Petitioner is Represented by An Agent or Attorney(per C.R.S.39-8-109) (a) Signature df gent ® or Attorney ❑ Signature of Petitioner Todd J. Stevens Automotive Services Inc. Printed Name Printed Name 9635 Maroon Circle Suite 450 1546 Cole Blvd Mailing Address Mailing Address Englewood, Colorado g0117 I,akewood CO 80401 City, State, Zip Code City, State, Zip Code Telephone: (303)347-1878 Telephone: (303)347-1878 Daytime number E-Mail: todd@stevensandassoc.com E-Mail: todd@stevensandassoc.com Attorney Reg. No.: 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 303-866-5880. Property Tax Consultant-Agency Agreement Owner Address: 1546 Cole Blvd#100,Lakewood,CO 80401 Property Address/Legal Description/Schedule#: See Attached exhibit A Consultant/Agent:Stevens&Associates Cost Reduction Specialists, Inc. I/We Automotive Services Inc, Golden Mesa LLC,Automotive Services, Inc,subsidiaries, parent companies and all affiliated companies agree with Stevens&Associates Cost Reduction Specialists, Inc.that for the property tax assessment years 2014,2015 and prior years,in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2014,2015 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists, Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists,Inc. as agent of the undersigned,In the name of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersigned, any and all documents relating to an appeal of the said assessments,for the assessment years in question and prior years, before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. Thus done and executed on this / -174 day of raet -2014. Agreed By: Automotive Services Inc, Golden Mesa LLC,Automotive Services, Inc By:� 2 •L{u.� . •___ Scott Stevinson Title: Managing Member STATE OF C,{1 /:_4d>O The foregoing instrument was acknowledged before me} This/0 day of A44/zr Please Direct all correspondence/refunds to: By: Scott stevinson Stevens&Associates/Inc. 9635 Maroon Cir,Suite 450 Witness my hand and official seal. Englewood, Colorado 80112 my commission expires: i 1`• �_ '- 0°‘ A r tltlil'�AAtfll/�,»� �YI�N• '`��/ Notary PuWip •. Notary Signature .7 • tf\ y11i Tr •.* :O1 , �� • �s�w Qom, I •. F .•4.-`� 14.. Exhibit A Automotive Services Inc Automotive Services Inc 5500 S Broadway 8337 Raspberry Way Arapahoe County parcel# Weld County parcel# 2077-15-4-00-001 /2042044 131323301001 /R3635305 Automotive Services Inc Automotive Services Inc 5540 S Broadway No Address Arapahoe County parcel# Arapahoe County parcel# 2077-15-4-00-002/2042052 1973-14-2-03-002/1167361 Automotive Services Inc 15000 W Colfax Ave Jefferson County parcel# 40-014-10-006/183918 Golden Mesa LLC 780 Denver West CO Mills Blvd Jefferson County parcel# 49-063-99-003/212368 Golden Mesa LLC 780 Denver West CO Mills Blvd Jefferson County parcel# 49-063-01-025/212369 Golden Mesa 1-LC Vacant Land Jefferson County parcel# 49-063-99-001 /209049 Automotive Services Inc 801 Denver West CO Mills Blvd Jefferson County parcel# 40-014-10-007/407069 Automotive Services Inc 444 S Havana St Arapahoe County parcel# 1973-14-2-24-001 / 1169712 Automotive Services Inc 494 S Havana St Arapahoe County parcel# 1973-14-2-03-001 /1167353 Automotive Services, Inc 10601 E Virginia Ave Arapahoe County parcel# 1973-14-2-17-001 /1168121 1 S1861 ' CLERK TO THE BOARD / PHONE ( 970 ) 336-7215 , EXT 4226 FAX ( 970 ) 352 - 0242 WEBSITE : www . co . weld . co . us J 1150 O STREET P . O . BOX 758 GREELEY CO 80632 August 4 , 2015 AUTOMOTIVE SERVICES INC 1546 COLE BLVD STE 100 LAKEWOOD , CO 80401 RE : THE BOARD OF EQUALIZATION 2015 , WELD COUNTY , COLORADO DENIAL OF PETITIONER ' S APPEAL AND AFFIRMATION OF ASSESSOR ' S VALUE ACCOUNT NO . : R3635305 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 petition for appeal of the Weld County Assessor' s valuation of your property described above , for the year 2015 . The Board of Equalization found that the evidence presented at the hearing supported the 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 . This decision is based upon the Board ' s analysis of the written and oral testimony presented by both parties . Further that it is the Board ' s decision that the taxpayer/did not present sufficient evidence to show that the value of the property was not reasonably valued by the Assessor. The Assessment and valuation of the Weld County Assessor was affirmed as follows : ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY ASSESSOR SET BY BOARD $ 8 , 492 , 070 . 00 $ 8 , 492 , 070. 00 2015-2438 AS0091 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 , 2015, MUST comply with the following provisions of C . R . S . Section 39 -8 - 107 ( 5 ) : ( 5 ) ( a ) ( I ) On and after August 10 , 2015 , 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 2015-2438 AS0091 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: 303-866-5880 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 I 2015-2438 AS0091 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 contact me at ( 970 ) 336-7215 , Ext 4226 . Very truly yours , .,d-Zieljeddeuesce Esther E . Gesick , Clerk to the Board Weld County Board of County Commissioners Cc : Christopher Woodruff, Weld County Assessor STEVENS & ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD , CO 801125902 2015-2438 AS0091 Christopher M. Woodruff, Weld County Assessor Valuation Report Of Commercial Property For County Board of Equalization AUTOMOTIVE SERVICES INC Petitioner vs. Weld County Assessor's Office Respondent Parcel Number: 131323301001 Schedule Number: R3635305 Appeal Number: 2008210287 Date:July 30,2015 Time:1(,:00. 9:50 4,�✓1 Board:CBOE Prepared By Wade Melies Assessor's Office Staff Appraiser Assessor's Indicated Value COMMERCIAL $8,492,070 02075 2 1A3, I Salient Facts and Conclusions Purpose of Appraisal To determine Market Value as of 1/1/15 based on an appraisal date of 6/30/ 14. Property Rights Appraised Unencumbered fee simple interest. Location 8337 RASPBERRY WAY FREDERICK Land Area 361,005 Property Type Commercial Occ% 100% Occupancy Description Complete Auto Dealership Imp No 1 Year Built 2005 Quality Very Good Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 58,566 Value Indications: Land $1,444,020 Cost Approach $7,943,000 Market Approach $9,077,730 Income Approach $9,160,000 Final Value $8,492,070 Subject Description The subject property is located at 8337 Raspberry Way in the town of Frederick. It is located on the east side of I-25 and half way between Highway 119 and Highway 52. The subject has exceptional visibility from I-25. The subject property is home to the prestigious Stevinson Lexus dealership. The subject property contains 8.3 acres or 361,005 square feet. . There has been extensive development work done to the site prior to construction to maximize the I-25 visibility. The subject's improvement is a complete automotive dealership which contains 58,566 square feet. It was constructed with a metal frame and glass and stucco fascia, built in 2005, it is of very good quality and considered in above average condition. Subject Photos it ,. A.mit. Illitrw iI C 444 -.q ar�n� —7, - . __}1!i .t _ — • • — rare... .. 1� I �-•�.� I; I Vol,/err-ir•r,„. ` 1 r . _. - 4 u 4 . 'I it 1 . I I `I 1 . - -1� Ai [ ri ••. �.. .s:.lii•L'� \ NI _P; • . I 1 0 60.0' b Cr I .NF,. .. 4 It 25.5' b c i.. co I.: 75.5 rI `� 55.0 45.7 y + .;;1 '' ,1 in Sales �� i‘l ro New Car j to e r n Centel Lounge 6 Pick-up 66.3' — r at 0 I North� Showroom 9 N 1179.7' j p I.; ` ft • 5.0' 6� ��\� Coffee 45.1' fl 0 I t `q ;� Bar service Breezewa►� N I ft Mezzanine Office 4808.8' • lBoutique 6898.T I I' I Mens II l' m DMus/Contelence Room ^� , ^ Io l ly,. I. , f +� 1 I ... womens90 0 f«t l[7)' 1gR r I� 1 1 l 5.0' ' 127.7' 3 a I 1• .r E " 10.0' I IU I Y . . (}a t • , of i' in Pads Department " o I yv "' I l ir 6149.3' 1 N•-.I0 .; :.1 .: 4a ego �� 14A' 66.30 •w•r • �t: 104_0' Dock I • : f , N: ' 31.7' I �'3�.T > le 67 •..+• fr t a t- o : m YY u 20.0' Shop m I o m �g a'o I I -'''f ‘- :'� f/f First Floor 26855.2' a I Break 8 F "a :� t ;' • 58566.0' b t: <n ( r rell1Olt mit d� I I t )r . .. : r 0m 6 af+ ,d T) ^ 39.7' � - a N • i' : c sir 159.3' &i,ii I1 7 lAgt. ti3ffi , I ! Sketch by Apex Nl" . Cost Approach Land Value Sales utilized to establish the value in the subject neighborhood are 2013 and 2014 market sales for the 2015 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39- 104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2010 through the current market to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 361,005 square feet. Comparable commercial land in the subject area is valued at $4.00 per square foot. Three comparable sales located along I-25 are presented that support this value. Parcel Number Sale Date Sale Price Land Size Per S.F. Buyer Comp 1 146714323001 3/3/14 $ 1,688,000 217,803 $7.50 Catholic Health Initiatives Comp 2 8515113002 + 1 6/12/14 3,078,543 456,073 $6.75 Spanos Corp Comp 3 8513208033 4/25/12 $3, 147,200 740,520 $4.25 FSPR LLC Assessor's Indicated Subject Land Value $1 ,444,020 a : A..tole atbr - -. — , ' -8 i, ? J. h. i o jiand , i` ' �'- g .• t' ilia i P as ia a__,-�._ i g A' :-0 ..-. _ ," VC ' , 'q _.mi I ' ,l , it—a'.�stw .,, ate.y( n' — 4 t . t1 7 :1 _ " c ' -,P. ' et • a s i-r r',4 : 1.) is, : rim tj LI g. el - , '' Tsilv—Lif.. ; • •. Pr r - b"- . <!cè . � '_ ili• t.: . _ ,i,TA .l rl 6b ,,,i 30 a vs., ., .„.., 5 .. . ''fh a r- PP f ' .3 ; °as• berry Way 4.. I' ilk * I .' R.! : 1 '' I. • 67-41- gtit '�yi�< i , ` tom: , 1•_t.. M-� y • I if .l• • 4 ►;to Cost Approach Summary The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial properties in Weld, which has been approved by the Division of Property Taxation to be utilized by Colorado Assessors. The structure has been classified properly utilizing the Marshall and Swift Valuation service and an appropriate value assigned. A land value has likewise been established through the utilization of vacant land sales of comparable properties. Improvement Value $6,481,697 Total Value by Cost Approach Final Value $7,943,000 $135 per sq. ft. Cost Approach Summary PARCEL NUMBER '131323301001 PROPERTY OWNER Automotive Services Inc ADRESS 8337 Raspberry Way CITY, STATE, ZIP Frederick, CO DATE OF APPRAISAL 06/30/14 OCCUPANCY: Complete Automotive DeE NUMBER OF STORIES 1 FLOOR AREA (SQ. FT.) 58,566 AVERAGE STORY HEIGHT 20 CLASS: Class C YEAR BUILT 2005 COST RANK Very Good EFFECTIVE AGE 9 HEATING AND COOLING Package Unit ESTIMATED LIFE 35 UNITS COST TOTAL RCN BASIC STRUCTURE COS' 58,566 $108.45 $6,351 ,483 perimeter adjustment 0.90 wall height adjustment 1 .133 Current multiplier 1 .01 Local multiplier 0.98 Adjusted RCN Basic Cost $6,417,668 EXTRAS: Sq Ft Cost PSF Asphalt 178,250 $2.36 $420,670 Concrete Slab 16,000 $5.33 $85,280 Mezzanine Office 4,809 $45.38 $218,232 TOTAL RCN $7,141 ,851 LESS DEPRECIATION PHYSICAL 9.0% $642,767 RCN LESS DEPR. $6,499,084 ADD IN LAND VALUE $1 ,444,020 TOTAL VALUE $7,943,104 Rounded Value $7,943,000 Value PSF $135.62 Market Approach Summary Real Property for the tax year 2015 must be valued utilizing data for the period one and one-half years immediately prior to June 30, 2014. If comparable valuation data is not available from such one and one-half year period to adequately determine the level of value for a class of property, the period of five years immediately prior to June 30, 2014 shall be utilized to determine the level of value. The Assessor has appropriately considered the Market Approach to value for the property on appeal. The Sales Comparison Approach was considered in developing a market value for the Subject. Sales used to establish a market value for the tax year 2015 are from January 1, 2013 through June 30, 2014. Pursuant to 39- 1- 104 (10.2) (c) C. R. S., the Assessor may utilize sales five years prior to Julne 30, 2014 to establish the proper value. All sales have been confirmed and verified through transfer declarations as well as interviews with buyers, sellers or their representatives to the sale. All sales used are arm's length transactions, and considered to be the most comparable properties sold in relationship to the Subject property. Six comparables sale are presented as comparable to the subject. Without adjustments the sales develop a range of $ 155 to $240 per square foot, with an average of $ 187 per square foot. The subject property is larger than any of the comparables. For this analysis the lower end of the range will be used, $ 155 per square foot. Total Value by Market Approach $9,077,730 $155 per sq. ft. 4 vVcllir•.uton .. ` Roosevelt National Forest Mummy Range Fort Collins Ault 0 Eaton • lic' ' '- Windsor < Rocky Mountain National Park Greeley ,...---c. Love and cb. Estes Park Plans ^„., b mer a • Orchid- antains m Milliken k., ` _.. p Berthoud '- %. o• I ' % #ct1d J jS Lyons Platteville Lolly ol Subject Indian Peaks NiwotY Keenesburg Wilderness 1 Fort Luptor• Front Range Erie Boul A' � Lafayett_ °i! Brighton;/ Nederland Broomfield `1 6 a., Westminster ,, )rest `^ d, Central City ' Arvada tbmmerce City ational Forst -� yp Golder. rr � Bennett Denver -- �� 20 mile:,Microsoft• Gr•grg + etown Aurora Virtual Earth " Genesee Lakewood :J_..3 Ji=rsnis �jr s_Luti J ;:4,11 \i Address City Property Info Sale Info 1 1800 Industrial Cir Longmont 18.978 SF General Retail/Auto Sold: 53,100,000 ($163.35/SF) Dealership 1799 Exposition Dr Boulder 18.898 SF General Retail/Auto Sold: S3,100,000 (5164.04/SF) Dealership 2501 35th Ave Greeley 12.594 SF General Retail/Auto Sold: 53,025,000 ($240.19/SF) Dealership 4 1415 Vista View Dr Longmont 30.359 SF General Retail/Auto Sold: 56,000,000 ($197.63/SF) Dealership 5 3701 S College Ave Fort Collins 13,175 SF General Retail/Auto Sold: S2,700,000 ($204.93/SF) Dealership 6 759 W 104th Ave Northglenn 37.124 SF General Retail/Auto Sold: S5,762,500 ($155.22/SF) Dealership Copyrighted report licensed to Weld County Assessor's Office - 611800. 7/28/2015 Page 1 1800 Industrial Cir King Automotive Longmont, CO 80501 Auto Dealership Building of 18,978 SF Sold on 12S/2013 for $3,100,000 - Research Complete bujer Valley Nissan 1005 Ken Pratt Blvd Longmont, CO 80501I, — ar (303) 776-0443IL , • L st } � i "a`_ -_ seller - Fred L Otis - 1812 56th Ave Greeley, CO 80634 (970) 330-6700 vital data Escrow/Contract: - Sale Price: $3,100,000 Sale Date: 12/9/2013 Status: Full Value Days on Market: - Building SF: 18,978 SF Exchange: No Price/SF: $163.35 Conditions: - Pro Forma Cap Rate: - Land Area SF: 130,680 Actual Cap Rate: - Acres: 3 Down Pmnt: $1 ,000,000 $/SF Land Gross: $23.72 Pct Down: 32.3% Year Built, Age: 1976 Age: 37 Doc No: 3356659 Parking Spaces: 120 Trans Tax: - Parking Ratio: 6.32/1000 SF Corner No FAR 0.15 Zoning: MI, Longmont Lot Dimensions: - No Tenants: 1 Frontage: - Percent Improved: 40.6% Tenancy: - Submarket: Longmont Ret Comp ID: 2916404 Map Page: Pierson Graphics Corp 41 -K Parcel No: 1315090-34-005 [Partial List] Property Type: Retail income expense data Listing Broker Buyer Broker RE/MAX Traditions 2204 18th Ave Longmont, CO 80501 (303) 772-3800 Keith Kanemoto financing prior sale 1st Firstbank Date/Doc No: 7/8/2005 HA/Pr-fit $2,100,000 Sale Price: $2,485,000 Comp ID: 1043617 Copyrighted report licensed to Weld County Assessor's Office- 611800. 722/2015 Page 1 '1799 Exposition Dr Audi Boulder- FKA Stammler Audi Boulder, CO 80301 Auto Dealership Building of 18,898 SF Sold on 8/26/2013 for $3,100,000 - Research Complete 7y(� •• 7 "{tic {�W � Kuni Automotive • y � (—.�_. . _ '+ . c/o Tim Hays ; _ --�" l�. � l; I � ab 203 SE Park Plaza Dr "' I •-• '- .! Vancouver, WA 98684 ' - (503) 372-7457 �' -. � •- _- -- _TwM4- `= - : L`,°.• . ,-• - .iii Stammler Imports, Inc. s, ,r""�s�' * y� c/o Adolf Stammler - 1799 Exposition Dr Boulder, CO 80301 (303) 442-7007 vital data Escrow/Contract: 89 days Sale Price: $3,100,000 Sale Date: 8t26/2013 Status: Confirmed Days on Market: - Building SF: 18,898 SF Exchange: No Price/SF: $164.04 Conditions: - Pro Forma Cap Rate: - Land Area SF: 78,408 Actual Cap Rate: - Acres: 1 .8 Down Pmnt: - $/SF Land Gross: $39.54 Pct Down: - Year Built, Age: 1976 Age: 37 Doc No: 3338112 Parking Spaces: 83 Trans Tax: - Parking Ratio: 5.75/1000 SF Corner No FAR 0.24 Zoning: 2139 Lot Dimensions: - Percent Improved: 44.9% Frontage: 297 feet on Exposition Drive Subrnarket: Boulder Ret 143 feet on 38th Street Tenancy: Single Map Page: - Comp ID: 2825314 Parcel No: 1463294-02-010 Property Type: Retail income expense data Listing Broker Expenses - Taxes $50,462 No Listing Broker on Deal - Operating Expenses Total Expenses $50,462 Buyer Broker No Buyer Broker on Deal financing 1st Bank Of America B_.I'Pnit $2,635,000 Copyrighted report licensed to Weld County Assessor's Office- 611800. 722/2015 Page 2 2501 35th Ave Champion Dodge & Hyundai Greeley, CO 80634 Auto Dealership Building of 12,594 SF Sold on 6/6/2013 for $3,025,000 - Research Complete ea buyer - 4 . 4 .� . f. ' a.i_" • Pierce Automotive 2425 E Camelback Rd : f -t` — 's-. a9 '� -' r` _" 111► Phoenix, AZ 85016 it -�,. 1 •-4 , 1. .`' (602) 549-7777 fi - . - — ; filar 1 - - Taber Properties 4535 W 29th Ave Greeley, CO 80634 (970) 482-0365 vital data Escrow/Contract: - Sale Price: $3,025,000 Sale Date: 6/6/2013 Status. Confirmed Days on Market: - Building SF: 12,594 SF Exchange: No Price/SF: $240.19 Conditions: - Pro Forma Cap Rate - Land Area SF: 259,269 Actual Cap Rate - Acres: 5.95 Down Pmnt: - $/SF Land Gross: $11 .67 Pct Down: - Year Built, Age: 1993 Age: 20 Doc No: 3938553 Parking Spaces: - Trans Tax: - Parking Ratio: - Corner: No FAR 0.05 Zoning: C-H - Greeley Lot Dimensions: - No Tenants: 3 Frontage: - Percent Improved. 51 .8% Tenancy: - Submarket: Northern Colorado Ret Comp ID: 2769897 Map Page. Pierson Graphics Corp 98-KO45 Parcel No. 095914401015 [Partial List] Property Type. Retail income expense data Listing Broker Buyer Broker financing prior sale 1st Jp Morgan Chase Bk Date/Doc No: 8/3/2005 B_a'Prrmt $4,000,000 Sale Price: $2,900,000 Comp ID: 1039836 Copyrighted report licensed to Weld County Assessor's Office- 611800. 722/2015 Page 3 1415 Vista View Dr Pontiac Chevrolet Bldg Longmont, CO 80504 Auto Dealership Building of 30,359 SF Sold on 8/9/2012 for $6,000,000 - Research Complete baVer King Auto Group �� ► 1415 Vista View Dr '' Longmont, CO 80504 :.. _ _ . . ?' � , . ��'. A=gym (303) 776-2650 ip seller Brett Hajek 13882 N 95th St Longmont, CO 80504 vital data Escrow/Contract: - Sale Price: $6,000,000 Sale Date: 8/3/2012 Status: Full Value Days on Market: - Building SF: 30,359 SF Exchange: No Price/SF: $197.63 Conditions: Business Value Included Pro Forma Cap Rate: - Land Area SF: 279,655 Actual Cap Rate: - Acres: 6.42 Down Pmnt: - $/SF Land Gross: $21 .45 Pct Down: - Year Built, Age: 2005 Age: 7 Doc No: 3858618 Parking Spaces: 300 Trans Tax: $600 Parking Ratio: - Corner No FAR 0.11 Zoning: - Lot Dimensions: - No Tenants: 1 Frontage: 861 feet on Co-119 Hwy Percent Improved: 74.2% 881 feet on Vista View Dr Tenancy: Single Submarket: Longmont Ret Comp ID: 2528786 Map Page: - Parcel No: 131308204015 Property Type: Retail income expense data Listing Broker Expenses - Taxes $89,515 - Operating Expenses Total Expenses $89,515 Buyer Broker financing Copyrighted report licensed to Weld County Assessor's Office- 611800. 722/2015 Page 4 3701 S College Ave Fort Collins, CO 80525 Auto Dealership Building of 13,175 SF Sold on 6/6/2012 for $2,700,000 - Research Complete Moreland Properties LLC 3870 Byrd Dr am. Loveland, CO 80538 (303) 301 -2899 �� ,®P�" iEL iii 41 •'Da seller . "411.2i- _- Lexington Realty Trust 1 Penn Plz New York, NY 10119 (212) 692-7200 vital data Escrow/Contract: 9 days Sale Price: $2,700,000 Sale Date: 6/6/2012 Status: Confirmed Days on Market: - Building SF: 13,175 SF Exchange: No Price/SF: $204.93 Conditions: Purchase By Tenant Pro Forma Cap Rate: - Land Area SF: 124,146 Actual Cap Rate: - Acres: 2.85 Down Pmnt: $2,700,000 $/SF Land Gross: $21 .75 Pct Down: 100.0% Year Built, Age: 1982 Age: 30 Doc No: 20120037018 Parking Spaces: 100 Trans Tax: $270 Parking Ratio: 10/1000 SF Corner No FAR 0.11 Zoning: C, Fort Collins Lot Dimensions: - No Tenants: 1 Frontage: 111 feet on S College Ave Percent Improved: - 170 feet on Creger Dr Tenancy: Single Submarket: Northern Colorado Ret Comp ID: 2488471 Map Page: - Parcel No: 97351 -19-005 Property Type: Retail income expense data Listing Broker Expenses - Taxes $49,835 SullivanHayes Brokerage - Operating Expenses 2000 S Colorado Blvd Denver, CO 80222 Total Expenses $49,835 (303) 534-0900 Michael Kendall, Erika Shorter Buyer Broker No Buyer Broker on Deal financing prior sale Date/Doc No: 2/19/2009 Sale Price: Comp ID: 1655087 Copyrighted report licensed to Weld County Assessor's office- 611800. 722/2015 Page 5 759 W 104th Ave Autonation Northglenn, CO 80234 Auto Dealership Building of 37,124 SF Sold on 1/6/2012 for $5,762,500 - Research Complete buyer ,t AutoNation, Inc. wvuunno, 200 SW 1st Ave Ft Lauderdale, FL 33301 f (954) 769-6000 �' — ••" +' % a: • 11111111 "' David C Fitzgerald . 759 W 104th Ave Northglenn, CO 80234 (303) 457-4810 • vital data Escrow/Contract: 60 days Sale Price: $5,762,500 Sale Date: 1 /612012 Status: Confirmed Days on Market: - Building SF: 37,124 SF Exchange: No Price/SF: $155.22 Conditions: - Pro Forma Cap Rate: - Land Area SF: 297,898 Actual Cap Rate: - Acres: 6.84 Down Pmnt: $5,762,500 $/SF Land Gross: $19.34 Pct Down: 100.0% Year Built, Age: 1994 Age: 18 Doc No: 0001727 Parking Spaces: 450 Trans Tax: - Parking Ratio: - Corner No FAR 0.12 Zoning: C-0 Lot Dimensions: - No Tenants: 1 Frontage: 458 feet on 104th Ave Percent Improved: 41 .6% 568 feet on Huron St Tenancy: Multi Submarket: Northwest Ret Comp ID: 2243810 Map Page: Pierson Graphics Corp 42-H Parcel No: 1719-10-3-07-034 Property Type: Retail income expense data (Listing Broker CBRE 8390 E Crescent Pky Greenwood Village, CO 80111 (720) 528-6300 Glenn Anderson Buyer Broker Cypress Equities SRS Real Estate Partners 790 E Broward Blvd 1875 Lawrence St Fort Lauderdale, FL 33301 Denver, CO 80202 (954) 903-9510 (303) 572-1800 Jacqueline Blake Don Edrington financing prior sale Date/Doc No: 6/17/1999 Sale Price: $2,500,000 Comp ID: 1004484 Copyrighted report licensed to Weld County Assessor's Office- 611800. 722/2015 Page 6 Income Approach To Value The Weld County Assessor has appropriately considered the Income Approach to value for the Subject property on appeal. The Assessor has gathered income information from local commercial properties for the time frame of January 1, 2013 through June 30, 2014. This information, combined with statewide and industry-wide data, is used to determine typical income and expenses for various property types. In conclusion of the Income Approach, the Assessor has considered both groups of data and has put more emphasis on the local factors and data than the state and national data. This information was then applied to the subject property to arrive at an appropriate Income Approach Value. Total Value by Income Approach $9, 160,000 $156 per sq. ft. MARKET INCOME WORKSHEET Parcel : "131323301001 Name: Complete Autodealership Address: 8337 Raspberry Way, Frederick Bldg Sq Ft Use 58,566 Complete Autodealership Net Comparable Bldg Income Rentals Use Address Size Per Sq Ft R8026799 Auto Dealership 800 Bryan Ct. 22,204 $18.54 Interstate Ford Subject Rents Annual Rent per Annual Gross Area Rent PSF Month Income 58,566 $18.00 $87,849 $1 ,054,188 LessVacancy & Expenses Vacancy 15% $158,128 EGI $896,060 Expenses mgmt 5% $44,803 R/R 3% $26,882 Net Income $824,375 Net Income/Overall Cap Rate = Property Value Property Value Cap Rate + Eff Tax Rate 0.090 0.090 $9,159,722 Estimated Property Value rounded $9,160,000 Value psf $156.40 Conclusion Real property for tax year 2015 must be valued utilizing the level of value for the period of one and one- half years immediately prior to July 1,2014. Except that, if comparable valuation data is not available from such one-and one-half-year period to adequately determine the level of value of a class of property. The period of five years immediately prior to June 30, 2014 shall be utilized to determine the level of value. Said level of value shall be adjusted to the final day of the data gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., or creation of a condominium, or any new regulations restricting or increasing the use of the land, or a combination thereof. {39- 1- 104(11) (b) (1) C. R .S.} The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approach, and Income Approach to value. {39- 1-103 (5) (a) C. R. S.} The Assessor has considered all three approaches to value for the subject parcel on appeal. Final Reconciliation After consideration of the cost, market and income approaches, it is the WELD County Assessor's opinion that the value of $8,492,070 or $ 145 per square foot, most accurately reflects the value of the subject property in WELD County for the 2015 tax year. Cost Approach Market Approach Income Approach $7,943,000 $9,077,730 $9, 160,000 Assessor's Indicated Value COMMERCIAL $8,492,070 LIMITED SUMMARY CONSULTING ASSIGNMENT OF Automotive Services Inc Auto Dealership 8337 Raspberry Way Frederick, Colorado Weld County PREPARDED BY Stevens & Associates/Inc . DATE OF VALUE JANUARY 1 , 2015 BASE PERIOD ENDING JUNE 30 , 2014 DATE OF REPORT JUNE 5, 2015 c>21)/5-ro2 EXHIBIT ?e4a4tovzr iC3B5Sor SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Property Location : 8337 Raspberry Way Frederick, Colorado Parcel Number : 131323301001 Schedule Number : R3635305 Land : 361, 005 Square Feet or 8 . 29 Acres Improvement Size 58, 566 Gross Square Feet Year of Construction 2005 Highest and Best Use For ad valorem tax purposes in Colorado the highest and best use of the subject is its current use . Cost Approach : $ 6, 530, 080 Sales Comparision Approach : N /A Income Approach : N /A Reconciliation : $ 6, 500, 000 Date of Value : January 1 , 2015 ir t . • yy , F. .e' J - ...in.:: .,„.—'," ,) - 'g'.'I I .?.1: y r k' . .. - f r' t ti' &. ' d ..r • sla S. lin 4 44 15 Los gt 414>St air Ib y t LI hl i! - x. x. .. r ... 1 i may, , � 1 ;it - !Lsib *. / ° - \r II' ♦ i-I• a03J.._•II .. .' °,1 . . . kt s. - t ,.a ._ > s '• 3a. .� • If s i s'« i ^ 1.. - r D% x t 4 ?pak ::MP'^ na.„ie� x , .. .. is s ...< :i�. � - -� el r 5 - - ." - t s �..g 4 Q . ,•• - - - }D' , 1 -41 c _ y _._ 4 `CO � D 0 OIT • N a ;_ C tr 6- ,4 O dco _�- - U p O ca 4 Q a O . la I tI �r CO f !~ R' all 03 • ail 1 �.# . .. a) �: ' (13 0) Ce Q M e E 1 _ 2 5 Frontage R is ,,, N lull .....-. (��.■J■{■ • - ,.0 M -11'-' 1 T' R? '1 1141.:"4.' 1t x' r'2 'a 1 • �q�p��{' p e R d - • 100.1.4105 tirV 0. . . ..„6— ; d!;.,..., ..-:', ikir .4. ; , «.nrAy w W s t ` 4 t I.H, • :�. , --), pixy S E:J - !�IIMIS �: . • t. el i.n" •: - It f t _ �'� t „ . . ` S �0M- - ��t, i ` �L . ..' — - il ...� ittia.- . .. ..- ...-:.--..t Itter _ ....... - L a ShowRoom ( 303 ) $ 2 , 343, 884 Service Garage ( 528 ) $ 1, 921,420 Service Shed ( 526 ) $ 305, 299 Mezz - Offices $ 236, 817 Parking Spaces $ 278, 640 Land $ 1 ,444, 020 Total $ 6, 530,080 CALCULATOR COST FORM MARSHALL & SWIFT COST VALUATION MANUAL SCHEDULE NO . R3635305 PARCEL NO . 131323301001 APPRAISER TODD STEVENS DATE 1 . LEGAL 2 . BLDG . NAME OWNER NAME Automotive Services Inc 3 . BLDG . ADDRESS 8337 Raspberry Way 4 . OCCUPANCY SHOWROOM ( 303 ) 5 . BUILDING CLASS C BUILDING QUALITY AVERAGE 6 . EXTERIOR WALL 7 . NO . OF STORIES 8 . AVERAGE FLOOR AREA 18, 747 9 . AVERAGE PERIMETER 10. EFFECTIVE AGE 9 YOC 2005 2014 CONDITION LIFE 40 11 . BASE SQUARE FOOT COST $ 130 . 44 12 . HEATING, COOLING, VENTILATION 13 . ELEVATOR DEDUCTION 14. MISC., SPRINKLER $ 2 . 79 15 . TOTAL LINES 11 THROUGH 14 $ 133 . 23 HEIGHT & SIZE REFINEMENTS 16 . NUMBER OF STORIES - MULTIPLIER 1 . 000 17 . HEIGHT PER STORY - MULTIPLIER 1 .000 18 . FLOOR AREA - PERIMETER MULTIPLIER 1 .000 19 . COMBINED MULTIPLIERS 1 .000 FINAL CALCULATIONS 20 . REFINED SQUARE FOOT COST $ 133 . 23 21 . CURRENT COST MULTIPLIER 1 . 05 22 . LOCAL COST MULTIPLIER 1 23 . FINAL SQUARE FOOT COST $ 139 .89 24 . AREA 18, 747 25 . AREA X SF COST $ 2, 622, 546 26 . LUMP SUMS 27 . REPLACEMENT COSTS $ 2, 622 , 546 28 . DEPRECIATION % 10% 29 . DEPRECIATED AMOUNT $ 262, 255 29 . DEPRECIATED COST $ 2, 360, 291 INDEXED COST 100% $ 2, 360, 291 JUL-2014 COST ADJUSTMENT 1 . 007 $ 2, 343, 884 TOTAL COST 2014 $ 2, 343, 884 CALCULATOR COST FORM MARSHALL & SWIFT COST VALUATION MANUAL SCHEDULE NO . R3635305 PARCEL NO . 131323301001 APPRAISER TODD STEVENS DATE 1 . LEGAL 2 . BLDG . NAME OWNER NAME Automotive Services Inc 3 . BLDG . ADDRESS 8337 Raspberry Way 4 . OCCUPANCY SVC GARAGE ( 528 ) 5 . BUILDING CLASS C BUILDING QUALITY AVERAGE 6 . EXTERIOR WALL 7 . NO . OF STORIES 8 . AVERAGE FLOOR AREA 36, 471 9 . AVERAGE PERIMETER 10 . EFFECTIVE AGE 9 YOC 2005 2014 CONDITION LIFE 40 11 . BASE SQUARE FOOT COST $ 53 . 35 12 . HEATING, COOLING , VENTILATION 13 . ELEVATOR DEDUCTION 14 . MISC . , SPRINKLER $ 2 . 79 15 . TOTAL LINES 11 THROUGH 14 $ 56 . 14 HEIGHT & SIZE REFINEMENTS 16 . NUMBER OF STORIES - MULTIPLIER 1 . 000 17 . HEIGHT PER STORY - MULTIPLIER 1 .000 18 . FLOOR AREA - PERIMETER MULTIPLIER 1 . 000 19 . COMBINED MULTIPLIERS 1 . 000 FINAL CALCULATIONS 20 . REFINED SQUARE FOOT COST $ 56 . 14 21 . CURRENT COST MULTIPLIER 1 . 05 22 . LOCAL COST MULTIPLIER 1 23 . FINAL SQUARE FOOT COST $ 58 . 95 24 . AREA 36,471 25 . AREA X SF COST $ 2, 149 , 856 26 . LUMP SUMS 27 . REPLACEMENT COSTS $ 2 , 149,856 28 . DEPRECIATION % 10% 29 . DEPRECIATED AMOUNT $ 214,986 29 . DEPRECIATED COST $ 1, 934, 870 INDEXED COST 100% $ 1, 934, 870 JUL-2014 COST ADJUSTMENT 1 . 007 $ 1 , 921 ,420 TOTAL COST 2014 $ 1, 921, 420 CALCULATOR COST FORM MARSHALL & SWIFT COST VALUATION MANUAL SCHEDULE NO . R3635305 PARCEL NO . 131323301001 APPRAISER TODD STEVENS DATE 1 . LEGAL 2 . BLDG . NAME OWNER NAME Automotive Services Inc 3 . BLDG . ADDRESS 8337 Raspberry Way 4 . OCCUPANCY SVC SHED ( 526 ) 5 . BUILDING CLASS C BUILDING QUALITY AVERAGE 6 . EXTERIOR WALL 7 . NO . OF STORIES 8 . AVERAGE FLOOR AREA 4, 809 9 . AVERAGE PERIMETER 10 . EFFECTIVE AGE 9 YOC 2005 2014 CONDITION LIFE 40 11 . BASE SQUARE FOOT COST $ 64 . 34 ' 12 . HEATING / COOLING, VENTILATION 13 . ELEVATOR DEDUCTION 14 . MISC., SPRINKLER $ 3 . 31 15 . TOTAL LINES 11 THROUGH 14 $ 67 . 65 HEIGHT & SIZE REFINEMENTS 16 . NUMBER OF STORIES - MULTIPLIER 1 . 000 17 . HEIGHT PER STORY - MULTIPLIER 1 .000 18 . FLOOR AREA - PERIMETER MULTIPLIER 1 .000 19 . COMBINED MULTIPLIERS 1 .000 FINAL CALCULATIONS 20. REFINED SQUARE FOOT COST $ 67 . 65 21 . CURRENT COST MULTIPLIER 1 .05 22 . LOCAL COST MULTIPLIER 1. 23 , FINAL SQUARE FOOT COST $ 71 .03 24 . AREA 4, 809 25 . AREA X SF COST $ 341, 595 26 . LUMP SUMS 27 . REPLACEMENT COSTS $ 341, 595 28 . DEPRECIATION % 10% 29 . DEPRECIATED AMOUNT $ 34, 160 29 . DEPRECIATED COST $ 307 , 436 INDEXED COST 100% $ 307,436 JUL- 2014 COST ADJUSTMENT 1 . 007 $ 305, 299 TOTAL COST 2014 $ 305, 299 CALCULATOR COST FORM MARSHALL & SWIFT COST VALUATION MANUAL SCHEDULE NO . R3635305 PARCEL NO . 131323301001 APPRAISER TODD STEVENS DATE 1 . LEGAL 2 . BLDG . NAME OWNER NAME Automotive Services Inc 3 . BLDG . ADDRESS 8337 Raspberry Way 4 . OCCUPANCY MEZ - OFFICE 5 . BUILDING CLASS C BUILDING QUALITY AVERAGE 6 . EXTERIOR WALL 7 . NO . OF STORIES 8 . AVERAGE FLOOR AREA 6 , 899 9 . AVERAGE PERIMETER 10 . EFFECTIVE AGE 9 YOC 2005 2014 CONDITION LIFE 40 11 . BASE SQUARE FOOT COST $ 33 . 27 12 . HEATING, COOLING, VENTILATION 13 . ELEVATOR DEDUCTION 14 . MISC., SPRINKLER $ 3 . 31 15 . TOTAL LINES 11 THROUGH 14 $ 36 . 58 HEIGHT & SIZE REFINEMENTS 16 . NUMBER OF STORIES - MULTIPLIER 1 .000 17 . HEIGHT PER STORY - MULTIPLIER 1 .000 18 . FLOOR AREA - PERIMETER MULTIPLIER 1 .000 19 . COMBINED MULTIPLIERS 1 . 000 FINAL CALCULATIONS 20 . REFINED SQUARE FOOT COST $ 36 . 58 21 . CURRENT COST MULTIPLIER 1 .05 22 . LOCAL COST MULTIPLIER 1 23 . FINAL SQUARE FOOT COST $ 38 .41 24. AREA 6, 899 25 . AREA X SF COST $ 264, 972 26 . LUMP SUMS 27 . REPLACEMENT COSTS $ 264, 972 28 . DEPRECIATION % 10% 29 . DEPRECIATED AMOUNT $ 26, 497 29 . DEPRECIATED COST $ 238, 475 INDEXED COST 100% $ 238,475 JUL- 2014 COST ADJUSTMENT 1 . 007 $ 236, 817 TOTAL COST 2014 $ 236, 817 E2 — - el en N en t%1 4!°t 64 64 G096R 64 6+4 QS 64 -` N N r- Cpps r- r- l- 'r!' o 0 0 0 0 0 0 .... . . . . . . . N O o'U 0 o 0 0 0 0 0 0 0 0 0 CJ O CD 00 00 00 00 00 00 00 cfs V) O U Ca 0 0 0 0 0 0 C 0 0 0 0 0 L vls O U v7 in to to ten to © C� 0 0 0 0 u 4.4 Cin O O U •oONCDinQ` � � � en . rot It — — q 64 64 64 603 "" "" C Ct' Ct' d' d' It Id- It t.., N (''1 N N N N N N N O lt V 45 uc GU)•74- ab y •C •-- V 4? CU ca Vtelv • 3 .-0 asu ._ a -a (,) g .1O w° I on 4' a o co A ° a. E u a. ' V c C CL OA OJ ' U t� O 1: C .E cd ap E •i15 126 cs • � .E .E ut uZZ ca � c� CZ � � � as 12 O a E a I. c 1- E Mo L t {a w VD Esther Gesick From: Beth Diehl [beth.diehl@stevensandassoc.com] Sent: Wednesday, July 29, 2015 12:13 PM To: Esther Gesick Cc: Wade Melies; Staci White Subject: BOE Hearings Hi Esther. We will take admin denials on the following: 2316 Investments LLC 2400 W 16th St 095912428001 R3919505 146703111004, R8928300, Wide Open Real Estate LLC 3761 Monarch St 146703111005 R8928400 PMC Milliken LLC 2600 Center Drive 105912152002 R3252104 Richmond American Homes of Colorado Inc Wyndham Hill Various Various - 38 lots We will hear the following tomorrow, Thursday, July 29,2015 @ 9:30am. Automotive Services Inc 8337 Raspberry Way 131323301001 R3635305 Beth Diehl Stevens & Associates 9635 Maroon Circle Suite 450 Englewood, CO 80112 beth.diehl@stevensandassoc.com 303.347.1878 Phone 1 ' v NOTICE OF DETERMINATION RECEIVED Christopher M . Woodruff JUL 172015 Date of Notice : 6/30/2015 Weld County Assessor Telephone : ( 970) 353-3845 1400 N 17m 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 R3635305 2015 1459 FRE RHBP L1 RASPBERRY HILL BUSINESS PARK W AUTOMOTIVE SERVICES INC 8337 RASPBERRY WAY 1546 COLE BLVD STE 100 FREDERICK , CO 000000000 o LAKEWOOD , CO 80401 w a O cc a cc ASSESSOR 'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 8 ,492 ,070 8, 492,070 TOTAL $8,492,070 $8,492,070 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) : STEVENS & ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD , CO 80112-5902 2015-2438 EC,: 04A 7 // 7 Rscocjl APPEA.PROOEDURES 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.gov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2014? (Your opinion of value in terms of a specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ 6,500,000 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.) e assessor id not properly consider the market,cost,or income approaches to value or aspects of the property in question. ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachm nts hereto are true and complete. (303) 347-1878 07/06/2015 Signature Telephone Number Date todd@stevensandassoc.com Email Address ' Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/13 R3635305 8431009 Property Tax Consultant-Agency Agreement Owner Address: 1546 Cole Blvd#100,Lakewood,CO 80401 Property Address/Legal Description/Schedule#: See Attached exhibit A Consultant/Agent:Stevens&Associates Cost Reduction Specialists, Inc. I/We Automotive Services Inc,Golden Mesa LLC,Automotive Services, Inc,subsidiaries, parent companies and all affiliated companies agree with Stevens&Associates Cost Reduction Specialists, Inc.that for the property tax assessment years 2014,2015 and prior years,in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2014,2015 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists, Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists,Inc.as agent of the undersigned,in the name of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersigned,any and all documents relating to an appeal of the said assessments,for the assessment years in question and prior years, before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. Thus done and executed on this /1O74 day of .,el3rtiery-2014. Agreed By: Automotive Services Inc, Golden Mesa LLC,Automotive Services,Inc �j,,, By: /it,2{ Scott Stevinson Title:Managing Member STATE OF t=„ )r.�44j0 The foregoing instrument was acknowledged before me} This/0 day of (p(z,t� Please Direct all correspondence/refunds to: By: Scott Stevinson Stevens&Associates/Inc. 9635 Maroon Cir,Suite 450 Witness my hand and official seal. Englewood,Colorado 80112 my commission expires: -'\-\1 '`` 1/44*N��A,#.N �i� Notary Public Notary Signature 41.*••• wP . 4( �3, '•OE, *• rirtttt,.tt� a Exhibit A Automotive Services Inc Automotive Services Inc 5500 S Broadway 8337 Raspberry Way Arapahoe County parcel# Weld County parcel# 2077-15-4-00-001 /2042044 131323301001 /R3635305 Automotive Services Inc Automotive Services Inc 5540 S Broadway No Address Arapahoe County parcel# Arapahoe County parcel# 2077-15-4-00-002/2042052 1973-14-2-03-002/1167361 Automotive Services Inc 15000 W Colfax Ave Jefferson County parcel# 40-014-10-006/183918 Golden Mesa LLC 780 Denver West CO Mills Blvd Jefferson County parcel# 49-063-99-003/212368 Golden Mesa LLC 780 Denver West CO Mills Blvd Jefferson County parcel# 49-063-01-025/212369 Golden Mesa LLC Vacant Land Jefferson County parcel# 49-063-99-001 1209049 Automotive Services Inc 801 Denver West CO Mills Blvd Jefferson County parcel# 40-014-10-007/407069 Automotive Services Inc 444 S Havana St Arapahoe County parcel# 1973-14-2-24-001 /1169712 Automotive Services Inc 494 S Havana St Arapahoe County parcel# 1973-14-2-03-001 /1167353 Automotive Services, Inc 10601 E Virginia Ave Arapahoe County parcel# 1973-14-2-17-001 /1168121 I4illiiH'Iti �. ., . 7012 1010 0001 0994 5699 '.','r...,74,:',1',''' , ry ,� ,,OM 4 r i� 't i r,s rl�^' /..„,,,,,, .f' , fA � i 'a4 � J� 'Y te ` a U.S. POSTAGE '1 )! rl'i .:°. $8.03 ~ :tc:l�....E FCM lG ENV • #=r�;� .. 0130 a �yFI��•'I $07/15/15 "- r� v06 2S00 ca E 08307379 �� LISPS® FIRST-CLASS MAIL® Stevens &Associates Inc. 0 lb.10.10 oz. SHI 9635 Maroon Circle, Suite 450 , TOP { Englewood, Colorado 80112 Weld County Board of Equalization P.O. Box 758 Greeley, CO 80632 l'ililI'III'IlIIIIIIIII'IIIIIIIIIIIIIIIIII'lillill"l'111IIIIIII' , GREELEY CO 80632-0758 LISP'S CERTIFIED MAILTM o- a ' } x !„?•",,,,•^#1,,,,i,-; t r .. r k �S 6 Y:r v' ' arr.'b x ,,, ' (,' '' 9514 8000 2645 5196 0000 47 CLERK TO THE BOARD 2' N ' 86 ' /" á'Ate PHONE ( 970 ) 336-7215 , EXT 4226 FAX ( 970 ) 352 - 0242 WEBSITE : www . co . weld . co . us 1150 0 STREET P . O . BOX 758 C GREELEY CO 80632 O Ur N T July 22 , 2015 AUTOMOTIVE SERVICES INC 1546 COLE BLVD STE 100 LAKEWOOD , CO 80401 Account No . : R3635305 Dear Petitioner(s) : The Weld County Board of Equalization has set a date of July 30 , 2015 , at or about the hour of 4 : 00 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 , 2015 , and mailed to you on or before August 12 , 2015 . 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 . AS0091 AUTOMOTIVE SERVICES INC - R3635305 Page 2 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 dedrAA• ,) Cr k2L4 Esther E . Gesick Clerk to the Board Weld County Board of County Commissioners cc : Christopher Woodruff, Assessor STEVENS & ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD , CO 801125902 AS0091 Hello