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Home My WebLink About20141889.tiff RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES - MEDICAL SYSTEMS DENVER, INC. 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 23rd day of June, 2014, at which meeting there were present the following members: Chair Douglas Rademacher, and Commissioners Sean P. Conway, Mike Freeman, and Barbara Kirkmeyer, with Commissioner William F. Garcia being excused, 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 taxpayer, Medical Systems Denver, Inc., not being present, and WHEREAS, the Board of County Commissioners has carefully considered the attached 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, denied, and an abatement or refund be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2011 $0.00 $0.00 2012 C L'.1\SI Lsw 2014-1889 AS0087 TAX ABATEMENT PETITION - MEDICAL SYSTEMS DENVER, INC. PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of June, A.D., 2014. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST:die/Lev „�/ ;� (►yam Q�\ Q �t aC.Lto uugl Rademacher, Chair eltr Weld County Clerk to the Board arbaraKirkme r, Pro-Term BY: pliiQppa (�• Y'fQ�cl�Ki 7Th Clerk to the Board �� Sean P. Conway APP AST M: 'ise3/4„ Mike Freeman unty Attorney .J* CUSED 4, • am F. Garcia I ism flirsito Date of signature: 7-8—/4/ I ""`� 2014-1889 AS0087 g C98 (PM-7 s r PETITION FOR ABATEMENT OR REFUND OF TAXES County: Weld Date Received cRo/3 O 402- (Use Assessor's or Commissioners'Date Stamp) Section I: Petitioner,please complete Section I only. 1a .■■�P�y■i Date: December 2013 Month Day Year DEC 31 2013 Petitioner's Name: Medical Systems Denver Inc Petitioner's Mailing Address: 7600 Johnson Drive JJELD ;REFt 'E.Y COLOW$DO Frederick CO 80504 City or limn state lip('ode • SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDESS OR LEGAL DESCRIPTION OF PROPERTY 131326202001 / R6884497 7600 Johnson Drive Petitioner stales that the taxes assessed against the above property for property tax year(s) 2011 and 201 2 are incorrect for the following reasons:(Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) RECEIVED Petitioner's estimate of value: s 950,000 ( 2011 ) s 950,000 ( 2012 ) MAY 2 0 2014 Value Year Petitioner requests an abatement or refund of the appropriate taxes. WELD COUNTY�+ 1 declare.under penalty of perjury in the seam, d•• e,that thispetition.together with any accompanyingexhibits COMMISSIONERS p' ) P J 4 € ' or statements,has been prepared or ex fined y 1 and to the best of my knowledge,information and belief is true,correct,and complete. Daytime Phone Number( et on Si, Daytime Phone Number( 303 )347-1878 Agent's 5'_nature` *Letter of agency must be attach when petilio is submitted by an agent. If the hoard of count,commissi ers,pursuant to section 19-10-114(1a or the property tax administrator-pursuant to section 39-_2-116,denies the petition fm iebmd or abate cat of taxes in whole to in owl.the petitioner may appeal to the hoard c dw as ssment appeals pursuant to the provisions or section s9-2-I_ within thirty days of the entry of any such decision 39-10-114 511),C a s. Section 1 : Assessor's Recommendation (For Assessor's Use Only) Tax year WI/ Tar year Z0/2— Actual Asiad Tar Attusl Assessed Tax Original 244/14° 141,aeo 3Y e`f sr original izzf 4Y• JO,O2 o S7f' corrected /1mv,Ivo Alyeo 3g zit if corrected ,2w/994 34/,11" J(,-Pf 13 Abate/Refund __ i" Abate/Refund 'T E Assessor recommends approval as outlined above. No protest was filed for the year(S): Of a protest was filed please attach a copy of the NOD) rC Assessor recommends denial for the following reason(s). !f f Sao -v Assessor's or Deputy essor s I nature 2014-1889 !Mill Stevens & Associates R © Specialists in:Property Tax Reductions Tuesday, December 31, 2013 Certified Number: 7011 2000 0002 3126 8773 Weld County Assessor's Office 1150 O Street PO Box 758 Greeley, CO 80632 Re: Abatement • Medical Systems Denver Inc 7600 Johnson Drive Schedule Number: 131326202001 / R6884497 Dear County Assessor: Enclosed is the signed Abatement for the above matters. Should you have any questions, please feel free to contact me. Sincerely, Staci White Real Estate Assistant Stevens and Associates staciw@stevensandassoc.com Stevens &Associates Cost Reduction Specialists, Inc. 9635 Maroon Circle, Suite 450, Englewood,Colorado 80112 (303)347-1878 ',flex(303)347-9242 Property Tax Consultant•Agency Agreement Owner Address:7600 Johnson Dr, Frederick,CO 80504 Property Address/Legal Description/Schedule#:See Attached exhibit A Consultant/Agent:Stevens&Associates Cost Reduction Specialists, Inc. I/VVe Medical Systems Denver Inc,subsidiaries, parent companies and all affiliated companies agree with Stevens& Associates Cost Reduction Specialists,Inc.that for the property tax assessment years 2014 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 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 3o day of December 2013. Agreed By: Medical Systems Denver /Inc By: 2 ///- "" Jack White Title:Pmrutivc'1ee-Pre'stdEttt' \ Cow 2 l //e STATE OF Col OC'C1a\rTh ThICQ day I)PmerY'J " a tied before me} ThI , � Please Direct all correspondence/refunds to: By: Jack White Stevens&Associates/Inc. 9635 Maroon Cir,Suite 450 Witness my hand and official seal. Englewood,Colorado 80112 my commission expires: (7n`Z/Oair7 O\& °Sem, ID gq Notary Public Notary elgneWre j ! CA LEEN D.MORGAN NOTARY PUBLIC STATE OF COLORADO tIYCONMISSION ExPIHE3 iflflTI. AO/5 Exhibit A Medical Systems Denver Inc 7600 Johnson Dr Weld County Parcel/Account# 131326202001 /R6884497 Ji • • • • LIMITED SUMMARY CONSULTING ASSIGNMENT OF Medical Systems Denver Inc Industrial 7600 Johnson Drive Frederick, Colorado WELD COUNTY PREPARED BY Stevens & Associates/Inc. DATE OF VALUE JANUARY 01, 2011 and 2012 BASE PERIOD ENDING JUNE 30, 2010 DATE OF REPORT DECEMBER 30, 2013 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Property Location: 7600 Johnson Drive Frederick, CO Parcel Number: 131326202001 Schedule Number: R6884497 Land: 105,837 Square Feet or 2.430 Acres Improvement Size: 20,749 Gross Square Feet Year of Construction: 1997 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: N/A Sales Comparison Approach: N/A Income Approach: $951,713 Reconciliation: $950,000 Date of Value: January 01, 2011 and 2012 INCOME PROFORMA GROSS SQUARE FEET 20,749 NET RENTABLE AREA 20,749 ANNUAL NET REVENUE RENTABLE AREA $5.40 $112,045 $112,045 VACANCY ALLOWANCE (OF ANNUAL GROSS) 10% $11,204 ANNUAL EFFECTIVE GROSS REVENUE $100,840 MANAGEMENT FEE (OF EFFECTIVE GROSS) 3% $3,025 TOTAL $97,815 OPERATING, MAINTENANCE AND RESERVES 10% $9,781 TOTAL $9,781 ANNUAL NET INCOME $88,033 TOTAL CAPITALIZATION RATE 9.25% CAPITALIZED VALUE OF PROPERTY $951,713 INCOME APPROACH LEASE COMPS LEASE NUMBER LEASE#1 PROPERTY TYPE Warehouse ADDRESS 4226 County Line R 22 YOC 1994 LEASE DATE Apr-09 BASE RENT $5.36 BASIS NNN LEASE SF 39,120 RENTABLE SF 39,120 05/15/2014 Attn: Chris Woodruff RE: 2011/2012 Abatement received 12/2013 R6884497/1313-26-2-02-001 Medical Systems Denver Inc 7600 Johnson Dr. Frederick, CO 2011/2012 Assessors Value$1,244,940($60/sf) SUBJECT: The subject property is an Office/Storage Warehouse facility located in the Frederick West Business Center located on the east side of I-25, half way between HWY 119 and Hwy 52 in the city of Frederick. The subject is a 20,749 square foot metal frame warehouse with, 14 foot sidewall height, built in 1997 and remodeled in 2006. There is approximately 15%office finish in the building. The subject sold 11/20/2006 for$1,400,000 or$67.50 per sq. ft.. The abatement is filed on behalf of the owner by Stevens&Associates. The petitioner is requesting a value of$950,000 or$46 per sq.ft.. The petitioner provided an Income Proforma indicating a value supporting the requested value. One lease comp was provided. The comp is located near the subject, however it contains almost twice the sq.ft. at 39,120 and is a bakery with cold storage capacity. Cost Approach: The subjects land has 105,837 sq. ft.and is valued at$1.75 per sq. ft. for a total of$185,215. Marshal & Swifts estimate of reconstruction costs are $1,063,937 and depreciation is estimated at 15%, making the RCNLD$904,346. This develops a cost approach value of$1,089,561 or$53/sf. Market Approach: Research revealed three sales similar to the subject during the extended data collection period of 07/01/2008-06/30/2010. A sale located across I-25 in Indian Peaks Business Park sold May 2009 for $62 per sq. ft.. A sale in Glacier Business Park sold Jul. 2008 for$61 per sq.ft.. The third sale occurred in Sekich Business Park on Oct. 2009 for$83 per sq. ft.. These sales support a Market Approach value of $60/sf is selected, equating to a value of$1,244,940. Income Approach: Three comparable leases where found. The first in the Glacier Business Park for$6.80 NNN per sq. ft., a second in Sekich Business Park at$6.80 NNN per sq.ft., and a third in Gateway Business Park for$6.00 NNN per sq.ft.. The Assessor's office research of vacancy in the Frederick West Business Center and similar business parks resulted in an estimated 10%vacancy for properties similar to the subject. Typical management and reserve are deducted as expenses. The Winter 2009/2010 Burbach &Associates Real Estate Investment Survey indicate the capitalization rate should be 9%. Using this data an Income Approach indicated value is estimated to be$1,240,790 or$59/sf. Reconciliation and Summary: In reconciling the Cost, Market, Income Approach the most weight is given to the Market Approach based on the subject being owner occupied. The Assessor recommends the value for 2011 and 2012 be sustained at$1,244,940 or$60/sf. Overall Foot Print —tea 20749.0 S.F. 180 0' Class "S" 190.0' 90 0' 14'Sidewall Height Radiant Heat Whse/Storage Service Bay 14,000 S.F. 4000.0 S.F. O 8 50.0' Meaanine Storage 2000.0 S.F. O I rim a R/RI Oft t .[ S.F. I f/1 60.0 60.0' Office/RetailCo 2749.0 S.F. 0 60.0' Sketch by Apex ry CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 5226 FAX: (970) 352-0242 X861 1150 O STREET P.O. BOX 758 v� Ili• �� GREELEY, COLORADO 80632 II3L0 0 i)I N T YII May 20, 2014, 2014 Medical Systems Denver Inc 7600 Johnson Drive Frederick, CO 80504 RE: SCHEDULE NUMBER R6884497 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: 7600 Johnson Drive. The meeting is scheduled for June 23, 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 deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, particularly 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, Raf ela A. Martinez Deputy Clerk to the Board cc: Assessor Stevens &Associates CLERK TO THE BOARD 1861 PHONE: (970) 336-7215, Ext. 5226 O FAX: (970) 352-0242 I1150 VM O STREET P.O. BOX 758 VGREELEY, COLORADO 80632 �_cOUTY July 9, 2014 Medical Systems Denver, Inc. 7600 Johnson Drive Frederick, CO 80504 RE: SCHEDULE NUMBER R6884497 Dear Property Owner: On June 23, 2014, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. 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 V truly yours, ^ Ra a A. Martinez Deputy Clerk to the Board cc: Assessor RM/eg U.S. Postal Service,. • N CERTIFIED MAIL,. RECEIPT •0 (Domestic Mail Only;No Insurance Coverage Provided) E•r•elivery lnf rmati•n visit •ur we•sHa at www.ue•s.c rn® 0 p uR Postage S Certified Fee 1 p I Postmark p Return Rece Fee Here (Endorsement Required) ired) n_ p' (Endorsement Delivery Fee — rsemsement li Required) ru ru Total Postage&Fees C:1 Sent To p 1 t.. P�Y_ta.t�1[kc- au.kte.�-- �"8tt d Street,ilpf No.; or PO Box No. —7 w35 ffl . LJCo City State,ZIP+4 1 VwL►YL�..lQYI. •.1..L1f kw>("ea Boll Z SENeE': Ce M'LETE THIS SECTI aN C•M•LETE THIS SECTION eN •ELIVE•v • Complete items 1,2,and 3.Also complete A. i9nature item 4 if Restricted Delivery is desired. O Agent // _ • Print your name and address on the reverse X ( • Ir �.%�• I� �I i Add ressee 5o that we can retto the the card to you. B. Received by(Printed Name) C. Date Delivery • Attach this card to the back of the mailplece, or on the front if space permits. J 1• t Iy 1. Article Addressed to: D. Is delivery address different from item 1? ❑Yes If YES,enter delivery address below: O No CI±E1 . StaCii l•JhIca. 9 635 Mak ar` #45v 3. Service Type UA.i.UOt�, E o(l Ja Certified Mail ❑Express Mall 000 ll 2 ❑Registered O Return Receipt for Merchandise O Insured Mall O C.O.D. 4. Restricted Delivery?(Extra Fee) 0 Yes 2. Article Number 7004 2890 0003 (Transferfomsantelabe�) 5708 9677 PS Form 3811,February 2004 Domestic Retum Receipt 102M-oz-M454o Hello