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Home My WebLink About20141792.tiff RESOLUTION RE: APPROVE, IN PART, PETITION FOR ABATEMENT OR REFUND OF TAXE S - WALGREEN COMPANY WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, at a duly and lawfully called regular meeting held on the 16th day of June, 2014, at which meeting there were present the following members: Chair Douglas Rademacher, and Commissioners Sean P. Conway, Mike Freeman, William F. Garcia, and Barbara Kirkmeyer, and WHEREAS, notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being present and assisted by Noel Lawrence, Appraiser, and taxpayer, Walgreen Company, being present and represented by Brenda Fearn, Sterling Property Tax Specialists, Inc., and WHEREAS, upon review, the Board deemed it advisable to continue the matter to June 18, 2014, to allow the Assessor's Office adequate time to review the supplemental information submitted by the petitioner, and WHEREAS, on July 18, 2014, the Board of County Commissioners carefully considered a negotiated stipulation agreement and revised petition, and is fully advised in relation thereto. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board concurs with the recommendation of the Assessor and the petition be and hereby is, approved, in part, and an abatement or refund be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $377,000.00 $28,350.17 2011 CCUAs2 C Jw NC) III 2014-1792 AS0087 TAX ABATEMENT PETITION —WALGREEN COMPANY PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of June, A.D., 2014. BOARD OF COUNTY COMMISSIONERS WELD COUNTY COLORADO ATTEST O ‘Q". av« �/1 Weld County � ot Oougla Rademacher, Chair Clerltt :.. . .�.�r� arbara Kirkmeyer, Pro-Tem BY: D ty Clerk to the Nil ,1�( =,�-.= Sean P. Conway Cr APP RM: ®uN'\ ' EMS ta._- / Mike Free n Tu �torney Wil m . arcia O Date of signature: 7- 1 2014-1792 AS0087 I PETITION FOR ABATEMENiith REICIAMO QF TAXES I,- Weld R E V f g Date Received t - /1 - County: _— . _. c JUL3OUseritif SOnmissioners'Date Stamp) Section I: Petitioner,please complete Section I only. 0000��I 9999 tJUL sJ(J HI"I IU NlJ Date: December 16 2013 RECEIVED Month Day Year JUN 1 r reen Company 7 2 " `Wa Petitioner's Name: 19 pany Petitioner's Mailing Address: d o Sterling Property Tax Specialists,Inc WELD COUNTY 950 S.Cherry Street,Suite 320 Denver CO 80246 COMMISSIONERS City or Town Stale Zip Code SCHEDULE OR PARCEL NUMBERS) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R3919505 2400 W.16th Street Petitioner states that the taxes assessed against the above property for the property tax year 2011 are f (� incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) See Exhibit 1 attached hereto and made an integral part hereof. Petitioner's estimate of value: $998,790 (2011 ) Value Year Petitioner requests an abatement or refund of the appropriate taxes. I declare,under penally of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been prepared or examined by me,and to the best of my knowledge,information and belief,is true,correct,and complete. Daytime Phone Number( Petitioner's Si et Da time Phone Number 1363 1 rnc'1-Q QCor lief-re-4-7'1714-Set-c h S I, /n c. \item �d eve^I 2" 'Lytle of agency must b he when petition is submitted by an agent. If the board of county commissioners,pursuant to section 39.10-114(1),or the property tax administrator, pursuant to section 39-2-116,denies the petition for refund or abatement of taxes In whole or in part,the petitioner may appeal to the board of assessment appeals pursuant to the provisions of section 39-2-125 within thirty days of the entry of any such decision,§39-10-114.5(1),C.R.S. Section II: Assessor's Recommendation (For Assessor's Use Only) Tax Year '2 RECEIVED o Actual Assessed Tax • -- Original ° y74 SIc _ �7 '�3�'t' "5.7, X13.�J AUG 0 4 2014 c_, r J Corrected 17 i ;LT eCC 377 etc 'a of el') /, r i 714. 190 /1 9/O ,) '5/�'t /7 WELD COUNTY AbatetRefund COMMISSIONERS • __ ❑Assessor recommends approval as outlined above. No protest was filed for the year: Of a protest was tiled,please attach a copy of the NOD.) O ❑Assessor recommends denial for the following reason(s): O — Assessor's or Deputy Assessor's Signature 'SUPT-AR Nn 920-66/06 020Ay—/792 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section III g!Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39-10-114 shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor,as appropriate,within six months of the date of filing such petition,§39-1-113(1.7),C.R.S. Section III: Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to$1,000) The commissioners of County authorize the assessor by Resolution No. to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of one thousand dollars or less per tract,parcel,or lot of land or per schedule of personal property,in accordance with§39-1-113(1.5),C.R.S. The assessor and petitioner mutually agree to the values and tax abatementlrefund of: Tax Year ctual Assessed Tax Original Corrected Abate/Refund Note:The total tax amount does not include accrued interest,penalties,and fees associated with late and/or delinquent tax payments,if applicable. Please contact the county treasurer for full payment information. Petitioner's Signature Date Assessor's or Deputy Assessors Signature Date $ection Iv: Decision of the County Commissioners (Must be completed if Section Ill does not apply) WHEREAS,The County Commissioners of County.State of Colorado,at a duly a lawfully called regular meeting held on / / ,at which meeting there were present the followi members: Month Day Year with notice of such meeting and an opportunity to be present having been given tot taxpayer and the Assessor of said County and Assessor eing present—not present)and Name petitioner (being present--n present),and WHEREAS,The said Name County Commissioners have carefully considered the within peti' ,and are fully advised in relation thereto, NOW BE IT RESOLVED,That the Board(agrees—does no gree)with the recommendation of the assessor and the petition be(approved—approved in part—dens with an abatement/refund as follows: Year Assessed Value Taxes Ab Refund i /mot ,�, ts airperson of the Board of County Signature County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementio county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedi of the Board of County Commissioners. IN WITNESS W EOF,I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature e: Abatements greater than$1,000 per schedule,per year,must be submitted in duplicate to the Property Tax Administrator for review. Section V: Action of the Property Tax Administrator (For all abatements greater than$1,000) • .- Board of County Commissioners,relative to the within petition,is hereby ❑A.. . :: .proved in part$ ❑Denied for e followi reason(s): 04/ Secretary's Signature a ax Administrator's Signatur Dale 15-DPT‘R No.920£6/06 ao/3-os3 PETITION FOR ABATEMENT OR REFUND OF TAXESpprFi1' County:Weld OR'cIINAL Date Received • (Use Assessor's or Commissioners'Date Stamp) DEC 17 2013 Section I: Petitioner,please complete Section I only. Date: December 16 2013 r I 11ASSppE��SSOR Month Day Year �� '»•.- ". COLORADO Petitioner's Name:Walgreen Company Petitioner's Mailing Address: So Sterling Property Tax Specialists,Inc. 950 5.Cherry Street,Suite 320 Denver CO 80246 City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R3919505 2400 W.16th Street Petitioner states that the taxes assessed against the above property for the property tax year 2011 are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) See Exhibit 1 attached hereto and made an integral part hereof. Petitioner's estimate of value: $998,790 20( 11 ) Value Year Petitioner requests an abatement or refund of the appropriate taxes. I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been prepared or examined by me,and to the best of my knowledge,information and belief,is true,correct,and complete. Daytime Phone Number 1 1 Petitioner's Si. at Daytime Phone Number(343 )`IS-7-e?Car Z. j.:l�roeP/d1F � - 4.3,13'hr /�-C• 'Letter of agency must b he3 when petition is submitted by an agent. If the board of county commissioners,pursuant to section 39-10-114(1),or the property tax administrator, pursuant to section 39-2-116,denies the petition for refund or abatement of taxes in whole or in part,the petitioner may appeal to the board of assessment appeals pursuant to the provisions of section 39-2-125 within thirty days of the entry of any such decision,§39-10-114.5(1),C.R.S. Section II: Assessor's Recommendation (For Assessors Use Only) Tax Year ';2 DP Actual Assessed Z Tax 576/ 71D Original ' / 7/ 7 /t'U ➢J 7 a7//1.;17 ,9/ Zl0 `1'2/79f `36,/9.f 9 Corrected Abate/Refund 9',&,73t t ‘ S52 '2% 2 l ,(b. Lrl Assessor recommends approval as outlined above. �r l��.� i?ry,, / No protest was filed for the year: (If a protest was filed,please attach a copy of the NOD.) ❑Assessor recommends denial for the following reason(s): Assessor6srDesessorsature 15-DPT-AR No,920-66/06 2014-1792 RECEIVED JUN 1 7 2014 WELD COUNTY COMMISSIONERS COUNTY BOARD OF COMMISSIONERS WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R3919505 STIPULATION (As To Tax Year 2011 Actual Value) RE PETITION OF : NAME: Walgreen Co. ADDRESS: 300 Wilmot Rd Tax Dept. MS#3301 Deerfield, IL 80015 Petitioner(s),WALGREEN CO. and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2011 valuation of the subject property, and jointly move that the Board of Commissioners enter its order based on this Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: GR CS L1 BLK1 COTTONWOOD SQUARE 2. The subject property is classified as COMMERCIAL property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2011. Land $ 711.720 Improvements$ Total 2.578.880 4 . After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 711.720 Improvements$ 588,280 Total $ 1.300.000 5. The valuations, as established above, shall be binding only with respect to tax year au,. 6. Brief narrative as to why the reduction was made: Value w:s adiusted based moon the vacancy rate of the subject Property as well as the lack of interior 5msh, ED his ay of June, 2014. et oner s)or omey Petitioner(s) or Attorney Address: Address: 415) S. C.1-✓' to tut- S.JCL.320 4 rDe.,wee. co 8 oz•t t.e. Telephone: 3t3- r5 ' ' Telepho�nee::, County Asses r l Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 Esther Gesick From: Noel Lawrence Sent: Monday, June 16, 2014 3:24 PM To: Esther Gesick; Chris Woodruff Subject: RE: Petition for Abatement-Walgreen Company We have reached an agreement with the petitioner and will be presenting that value on Wednesday. The petitioner's agent will not be appearing so there will be no need to provide any teleconference equipment. I will attach a copy of a signed stipulation to the abatement. Respectfully, Yoe(Lawrence Commercial Appraiser Assessor's Office 1400 N. 17th Avenue Greeley, CO 80631 970-353-3845 ext. 3695 'I t' r ' -- • Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Esther Gesick Sent: Monday, June 16, 2014 2:44 PM To: Chris Woodruff; Noel Lawrence Subject: Petition for Abatement - Walgreen Company Hello Chris and Noel, I just wanted to apologize for the breakdown in communication on today's hearing. I've instructed Rafaela that if she receives any documentation for future tax abatements, she needs to be sure and forward a copy to the Assessor's Office for your review prior to the hearing. Once you've completed your review and dialogue with the Walgreens tax agent, please let me know if I need to plan on providing a conference phone in the hearing room on Wednesday, or if the matter gets resolved and she has nothing further to submit/testify. Thanks! Esther E. Gesick Clerk to the Board 1150 O Street/P.O. Box 758/Greeley, CO 80632 1 95o S.Cherry Street i ,yy Suite 320 y!R { , t d Denver,CO 80246 ktibk‘_.)� l .. . .. Ni, § .. z �' ,,,..._�Z 303.757.8865 PItOI'f- RTY TAX SPECIALISTS, INC. fax 303 7577691 www.sterlingpts.com December 16, 2013 re ta:Ir r.9" a WI w":o Weld County Board of County Commissioners DEC 17 20" c/o Mr- Christopher M. Woodruff Weld County Assessor 1400 N. 17th Avenue Greeley, CO 80631 Enclosed please find the 2011 Petition for Abatement or Refund of Taxes for the following schedule number: R3919505 Please sign and either fax or email the attached copy of this letter to acknowledge the receipt and filing of this abatement. Our fax number is 303-757-7691 and my email address is monica@sterlingpts.com. Since ely, C Mon ca Grosfiel Assis nt to Barr J- oldstein & e dra L. Gold i Above referenced Petition(s) received and filed: Date: j&/7/ e ounty 95o S.Cherry Street Suite 320 Denver,CO 80246 303.757.8865 PRO PPItTY TAX SI'ECIAI ISTA INC. fax 303.757.7691 www.sterlingpts.com $ PETITIONER'S EXHIBIT December 16, 2013 Weld County Board of County Commissioners c/o Mr. Christopher M. Woodruff Weld County Assessor 1400 N. 17th Avenue Greeley, CO 80631 RE: 2400 W. 16th Street(Schedule No. R3919505)(the"Property") Dear Commissioners: The undersigned, Sterling Property Tax Specialists, Inc., represents the single tenant user of the Property for the purpose of filing an abatement for the 2011 value. A copy of the Letter of Authorization is attached hereto and made an integral part hereof. Only the schedule number set forth herein above is being protested hereunder. The Property consists of a 33,293 square foot, multi-tenant medical office building. The Assessor's information indicated the improvement was constructed in 1976 and over time, has had three additions. The Assessor's information identifies the latest addition dated 1992. For calendar year 2011, the Assessor has valued the Property at$2,576,880,or$77.40 psf. Petitioner has reviewed the Assessor's website for sales of similar properties during the base period. It appears that no other medical office buildings sold within the base period that are of a similar size and age. However,two office buildings that are relatively similar in size, condition,and quality sold in the first quarter of 2010 that are indicative of the Property's overvaluation at $77.40 psf. Those two sales are detailed below: 1. 2505 1"Ave.—Account No. R3560986 Office Building constructed in 1984 consisting of 10,631 sq.ft. Sold February 26, 2010 for$439,000 or$41.29 psf 2. 3026 4th Ave.—Account No. R3854286 Office Building constructed in 1980 consisting of 26,878 sq.ft. Sold March 11, 2010 for$1,638,000 or$60.94 psf Also indicative of the market value as of June 30, 2010 is the post-base year sale of the subject Property. Though the Property was not under contract for sale on the June 30, 2010 valuation date, the Property sold on January 26, 2012 for $800,000, or $24 per sq. ft. It is widely known and accepted that by 2012, the real estate market was in a state of slow but steady recovery and that generally speaking, the marketplace as of June 30, 2010 was in a more depressed state than the subsequent date of valuation of June 30, 2012. Therefore, it follows that the 2011 value of the Property,with a valuation date of June 30, 2010,should be for a lesser amount than generated in the post-base year sale at$24 per sq.ft. The Assessor's value of the Property for calendar year 2013 was $998,790, or $30 psf. Petitioner contends that in light of the above-referenced market conditions, the Property's value for calendar year 2011 should not exceed that of the post-base year sale of$24 per sq.ft. However, acknowledging that 2400 W. 16`h Street Page 2 the sale occurred post-base year and taking into account the base year sales of somewhat comparable properties, Petitioner hereby requests the Board adjust the value of the Property for calendar year 2011 to that of$30 per sq.ft., or$998,790. All information contained herein should be considered confidential and not available to any third parties. Sincerely, STERLING PROPERTY TAX SPECIALISTS, INC. By: K• dra L. Gold ei ,Vice President LETTER OF AUTHORIZATION December 30,2010 Sterling Property Tax Specialists, Inc. 950 South Cherry Street, Suite 320 Denver, Colorado 80246 RE: 2011 and 2012 Property Tax Assessment Matters Gentlemen: The undersigned, as owner, or Lessee entitled to protest the valuation of the Property under our lease, located in Weld County, Colorado, at See Attached, and more particularly described on Assessor's Notice of Valuation, Schedule No(s). See Attached hereby authorizes Sterling Property Tax Specialists, Inc. and Barry J. Goldstein, Esq., to act as agent on my behalf regarding all 2011 and 2012 property tax assessment matters, and obtain any and all documents relating thereto and file any protests necessary. This Authorization shall be effective as of the date set forth above. WALGREEN COMPANY By: Ann Pelts, Real Estate Tax Administrator Telephone: 847-527-4418 Walgreen Company Weld County 2011 /2012 1641 23rd Ave R3919505 1641 23rd Ave R3919605 1480 Main Street R2569303 3700 35th Avenue R2682304 3700 W 10th Street R2941404 5962 Firestone Blvd R3846705 2600 1 Ith Ave R4696707 NEC of Mountain View&Hwy 7 R6775936 490 Erie Parkway R5341708 { R3919505 2400 W.16th Street, Greeley,Colorado YOC 1976 GSA 33,293 . . I.!" c , r ,,,„.1.- \. r r y' r • V. 1104' t N r ,f t 'i.. ;4,• • r-4--w'-i--ivu":.,"• • M - _ --•. 1..L3e*�' .. ti „, .',...!.,-.,: :::',-;4A. ,,,,, . ''''It?'4w..--,- ' ,,Mi„,tra,....,17,•-- - RECEIVED JUN 06 2O1' WELD COUNTY COMMISSIONERS 6/20/2014 24UU VV pith St-(.Uoogle Maps A - zaoo w 16tH St u„ M T '' 1 — 1 1 — f -a t Explore this nrt a x iJ • • t t t r. },Alt0,f. emmoilkti '1 ' ,f--7. fry` t i 0010 . r :- ''' ' ''''''''''''''''• -1 •,y `tL ''14----'147t t • "., .fit_: -------.,.,.,.3.,7..+. '' ..;; lb 3 �' �*,. a f �'7� U `2400 W 16th St A r .t- 1061: I ,- i :.''...,it- • .:, r-Ir./J. _. -4p . . - , 44 0. . . , . . .. .......,,. 44, , •-•,. ., ,.,,. ,,.. . _ , • 1 -_,„ i ' \: lc- . . . • - ...._ - Yf r, „- �ptbi.1�.7 • .-144. I 1 1 �� J A r41p. lr , • L. ,, .. . . . . .. ,:i li , , - .. , ., ,. . .A.?, ' i q y" t. • _ 4 1 .: • ,., J • 3. 4 t Z j "£' ? ; imagery G2014 DigitaiGtobe,USDA Farm Servme Agency,Map data 02014 Google 1.?0- hftnc-/hnn4nNmmn It=rrun/ma rig/nlano/94f1(1+W+16th+Ct/,Th4fl411'77-104717RdRd1(lrrJrlata.IRm1I'fall 4m71lm1I 1c(hR7Apa1R7ri(lfririrl7h.fhrlaf1lY)f 1fG.ric+elh 1/1 For year 2011 Assessor's Income Approach,adjusted for excess vacancy Comparison NLA 33,293 per Assessor PSF Potential Gross Income $8.00 $266,344 Vacancy and collection loss 30.00% $2.40 $79,903 Effective Gross Income $5.60 $186,441 Allowable expenses 8.00% $0.45 $14,915 Net Operating Income $5.15 }171.5P8 Cap rate ETR Loaded cap rate 9.50% Indicated value $1,805,532 Indicated value rounded $54.23 psf NLA $1.805.500 Less Excess Vacancy adjustment $758,000 Indicated value after vacancy adjustment $1 047 cnq Per square foot $31.46 EXCESS VACANCY DISCOUNTING SCHEDULE#: R3919505 ADDRESS: 2400\\' 16th St. NET RENTABLE AREA: 33,293 NET OPERATING INCOME (NOI) $171,526 ACTUAL VACANCY - 75.00°a NORMAL VACANCY - 30.00°''o EXCESS VACANCY 45.00°o NET OPERATING INCOME LOSS (ANNUAL) $77,187 (Excess Vacancy°°s NOT) ABSORPTION FACTOR ( 1 IRS @ 9.0°o ) YEAR FACTOR ABSORPTION ADJ. FACTOR 1 0.917431 1.00 0.917431 0 0.000000 0.00 0 0 0.000000 0.00 0 0 0.000000 0.00 0 0 0.000000 0.00 0 FINAL FACTOR = 0.917 DISCOUNT TO BE APPLIED - INCOME LOSS $70,800 Annual Loss x Final Factor) ANNUALIZED TENANT FINISH AND LEASING COSTS $749,093 Tenant Finish and Leasing Costs per Square Foot= $50.01 ((Cost per sgft x Excess vacant sgfr) / #of years for stabilization) YEAR FACTOR ABSORPTION ADJ. FACTOR 1 0.917431 1.00 0.917431 0 0.000000 1.00 0 0 0.000000 1.00 0 0 0.000000 1.00 0 0 0.000000 1.00 0 FINAL FACTOR = 0.917 DISCOUNT TO BE APPLIED -TEN. FIN.&LEASING COSTS $687,200 FINAL DISCOUNT $758,000 Weld County Colora d Page 1 of 1 ' — AZ Search I Search . .... ...-. Q WELD COUNTY COLORADO Weld County Coloradorit _ 'r ' . All Weld Lounty> Home ( About I Deparunenu iServices I Contact Us 1 Properly Information Weld County Colorado Improved Property Sales Search • Property Location Sale Details Parcel Number:066117431018(Map) Reception Number.3678414 Account Number.R3560186 Sale Date:28•Feb•10 Section:17 Township:05 Range:65 Sale Price:TAMAN 00 Address:2505 1 AV,GREELEY Grantor.CENTENNIAL BOARD COOPERATIVE Description:HWY B:CORRIDOR EDUCATION SERVICES Grantee:BDC I LLC Property Characteristics Year Built 1984 Property Type:Commercial Land Type:Commerdal Acres:2.8640 Land SO.FT.:1247560000 Buildings Sq.Feet Number of Buildings:1 Total SO.FT.:10631 0000 Primary Occupancy:OMo 8u,lding Residential SO.FT.: Commercial SOFT.: Built As:Office Budding 0.0000 10031.0000 Exterior. Basement FIn.SO.FT.: Class.Masonry 00000 Menanme SO.FT.:00000 HVAC:Package Unn Garage SO.fT.:00000 Condo SOFT.:0 Number of Rooms:0 Number of Bedrooms:0 Carport SO.FT.:00000 Number of Baths:0 O Porch SO.FT.:00000 Balcony S0.FT.:0 0000 . Out Building 50.FT.: f a • .. ... 6aaao 44/4 z9 par • • • <cc Back to Search Results improved Land Property Search II Vec oat Property Search • • camry,a xe4 deli Cain,/ Manx tai oPtlt resent,:t Fence PtLc a nvd.brt, (.4-mt.-el 4 M,ruacn httn://www.co.weld.co.us/apps/assessor/sales data/sales data de... 5/15/2013 42505 1st Ave — SOLD II 1 r Greeley,CO 80631 `Sale on 2/26/2010 for$439,000($65-92/SF)•Research Complete '8,860 SF Class B Office Building Built In 1984 a 1N u E24th St . , '�r y a E 24 a 41 Park .1tih O E25ti ) x . r`° Microsoft'. `„ I Intual Earth' . , Li.,;u -d-a-----Lt-t- .m Buyer 8,Beller Contact Into Recorded Buyer BDC I LLC Recorded Seller; Centennial Board Cooperative Educational Service True Buyer. BDC I LLC True Seiler. Centennial Board Cooperative Craig Banes Educational Service 1165 S Pennsylvania St Tiny Buswell Denver,CO 80210 830 S Lincoln St (303)741-4500 Longmont,CO 80501 (303)772-4420 Buyer Type: Corporate/User Buyer Broker. No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Transaction Details ID:1883887 Sale Date: 02/2812010 Sale Type: Owner/User Escrow Length. 120 days Bldg Type: Office Sale Price: $439,000-Confirmed Year Built1Age: Built In 1984 Age:26 Asking Price: - RBA: 6,660 SF Price/SF: $65.92 Land Area: 2.86 AC(124,756 SF) Price/AC Land Cross. $153,282.12 Percent Leased: 100.0% Tenancy:. Multi Percent Improved: 72.9% Total Value Assessed: $200,110 In 2009 Improved Value Assessed $145,840 Land Value Assessed: $54,270 Land Assessed/AC: $18,949 No.of Tenants: 1 Tenants at time of sale, Weld Cnly Beard of Cooperative Ed Srves Financing: $1,600,000.00 from Steele Street Bk Trust Parcel No: 096117401018 Document No; 3678414 no cop.1ghled moon eentams mseamh Icented to Stednp Property Tax specialels.Inc-70913. 512012014 Page 1 25051st Ave SOLD• 6,660 SF Class B Office Building Bull In 1984(cony) • I • Transaction Notes • Centennial Board Cooperative Educational Service sold the properly at 2505 1st Ave to BDC I LLC for$439,000 on February 26 2010.The 7,568sf office building was sold as an owner/user property.The sale required no brokers and had no unusal conditions. Plat map was not available. Income Expense Data Expenses -Taxes $13,143 -Operating Expenses Total Expenses Current Building Information ID:1531636 Bldg Type: Office Bldg Status: Built in 1984 Class: B RBA. 6,660 SF Total Avail. 0 SF %Leased 100.0% Bldg Vacant: 0 SF Rent/SF/Yr Tenancy: Single Elevators 0 Owner Type: Corporate/User Core Factor. - Owner Occupied No Stories: 1 Zoning: B1 Typical Floor Size: 7,568 SF Land Area: 2.86 AC Building FAR: 0.05 Const Type: Masonry Expenses: 2012 Tax @ S2.89/sf Parking: 32 free Surface Spaces are available; Ratio of 4.23/1.000 SF Location information Located. E 24th St&1st Ave,E of US Hwy 85 Metro Market: Denver Submarket' Weld County/Weld County County' Weld CBSA' Greeley,CO CSA' Denver-Aurora-Boulder,CO DMA• Denver,CO-NE-WY-NV This my-Wiled report contains research 1uns.d to Sterfrp Property Tax Spec aGsts,Inc.-709f 3. 5/20/2014 Page 2 CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 5226 1861 FAX: (970) 352-0242 1150 O STREET P.O. BOX 758 GREELEY, COLORADO 80632 `, & UNTY May 9, 2014 Walgreen Company CIO Sterling Property Tax Specialists, Inc. 950 S. Cherry St. Suite 320 Denver, CO 80246 RE: SCHEDULE NUMBER: R3919505 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 2400 W. 16th Street. The meeting is scheduled for June 16, 2014, at 9:00 a.m., in the Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County Administration Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631. The Assessor is recommending that the Board partially deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, especially if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearing. If you have any questions concerning this matter, please do not hesitate to contact me at (970) 336-7215, Extension 5226. Sincerely, qtado._,agiAtilL-03/- Rafaela A. Martinez Deputy Clerk to the Board cc: Assessor Sterling Property Tax CLERK TO THE BOARD PHONE: (970) 336-7215, Ext. 5226 1861 FAX: (970) 352-0242 1150 O STREET P.O. BOX 758 i \\ GREELEY, COLORADO 8063 80632 COUNTY J\ July 9, 2014 Walgreen Company c/o Sterling Property Tax Specialists, Inc 950 S. Cherry Street Suite #320 Denver, CO 80246 RE: SCHEDULE NUMBER: R3919505 Dear Property Owner: On June 16, 2014 the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied it in part. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index.htm Very truly yours, (--- (1t.00- c •,9-Q lt Rafaela A. Martinez Deputy Clerk to the Board cc: Assessor RM/eg U.S. Postal Service. 1- CERTIFIED MAIL. RECEIPT -a (Domestic Mall Only;No Insurance Coverage Provided) Er F r•elivery Inf rmatl n vials • r we.Es- alto at www.usps.c , O trl Postage $ /1 nR ID l7 Certified Fee O Return Receipt Fee Postmark (Endorsement Required) Here Er Restricted Delivery Fee(Endorsement Required) co ru Total Postage.4 Fees $ CI Sent To t/ ritiluk -Mv ~ Street,Apt.No.; /1 I� .a '/� or PO Box No. 950 5. choiO... CL y03µ City,State.ZIPY4 JT •` _" �•1T • SENDER: COMPLLTE THIS SECT/ON • Complete items'1,2,and 3.Also complete 9R re item 4 if Restricted Delivery Is desired.' ' ens • Print your name and address on the reverse l O Addressee so that we can return the card to you. B. ved by( tin e) C. Date of Delivery • Attach this card to the back of the mallplece, L Or( or on the front if space permits. 0. is delivery address different from Item 1 1. Article Addressed to: If YES,enter delivery address below: 950 S. C s+. 432.0 Service Type 1 J r . 80 Pt/Lc O Express Mall ..Q Aepktarad ❑Return Receipt for Merchandise l Insured Mall ❑C.O.D. 4. Restricted Delivery?(Extra Fee) ❑yes 2. Article Number 7004 2890 0003 5708 9646 • Mansler nom ssrwoe Its PS Form 3811,February 2004 Domestic Return Receipt 1025vsa2-M-1540 Hello