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Home My WebLink AboutPACKET Light and Power 1987-09-04tt - . -31 /131 - LIGHT & POWER COMMITTEE 0 September 4, 1987 - AGENDA T '.'' c y' 1. Christmas Lights - Barry Meyers 2. Light & Power Service Building Site Selection 3. 1988 Light & Power Budget Review Reports 1. Shut Offs 2. Platte River 3. Lineman Position 4. Other j j CHRISTMAS DECORATIONS Discussion Barry Meyers - Staff - 1 ' TOWN OF ESTES PARK Light and Power Department Robert L. Dekker Director ---:u.o. ti,a.10- J- .i&ic .3..L2Â¢3~2'k23*18+1/6&jigic - .,Or =.,8/'M~:/irai'.V - ->1Â»31~ :*1#19#017- IJ~~~~~- - t. Estes Park, Colorado 80517 h MEMORANDUM TO: Mayor, Town Board, Town Administrator FROM: Bob Dekker -~~ DATE: September 4, 1987 SUBJECT: Light & Power Service Building Site Selection During the last two years numerous sites in the Estes Park area have been investigated in an attempt to find the best possible location for the proposed Light and Power Department Service Building. After reviewing several options, the Board of Trustees directed the Public Works Department to obtain site preparation estimates for the three apparent top preferred sites. The attached copy of Dick Gerstberger's July 8, 1987, memorandum details the figures received from Jim Nytes. Additionally, copies of information on other available properties previously discussed are attached for your review. The last page in this section gives comparative costs for the sites that were studied. If you have questions, we are prepared to discuss them with you. P. O. Box 1200 Telephone (303) 586-5331 f TOWN OF ESTES PARK ix /AteST Public Works Department Richard L. Gerstberger Assistant Director 11 .1 . 1- -4--- -*RE<.01\%,21-41 Mf~z- -OV~~~~~* .~1 1- 4 /0/5 -7 1- ..- - Estes Park, Colorado 80517 MEMORANDUM TO: Rich Widmer FROM: Dick Gerstberger N<Â¢74 DATE: July 8, 1987 SUBJECT: Light and Power Dept. Service Center Site Evaluation Three sites have been evaluated as a prospective location for the Light and Power Department's new shop _facility. Steve has examined each site and located a building envelope considering topography and other constraints , (see attached topo maps). Cross sections were then developed for each site and earthwork quantities calculated. Two alternative configurations were examined for the city property. The second alternative rhore closely balances the cut and fill, but increases the berming requirements along the highway. Jim Nytes was then asked to give us a rough estimate of the cost of earth work. His estimates were used as the basis for developing the following totals. Earth Work Site Work Retaining Total & Walls Demolition City Property (Alt #1) $165,000 $ 5,000 0 $170,000 William's Property 59,700 30,000 $27,000 116,700 Â· O'Dell Property 149,600 30,000 24,000 203,600 City Property (Alt #2) 76,300* 10,000 45,000 131,300 *Includes 500' of 8' berm along highway The site work and demolition figures are guess-timates to include blasting, house demolition, and tree & concrete removal. RLG:lm Attachment P. A Hok 1200 rfÂ·leplic)[lp (3()1) 586.5 411 f-~ /-3 )1))// 4 PC--'/ ~< h )U 961961/-/<, t- _4 41\\ 9 0~/ - af t-e /A0 / 1 1( 1 - kil 01-33/ & -- - 7.50 \ - \ -17 -A 2% . - 80.40 + X 10A L --- --- r C- k - 0 7 7 \ V . 4 tr \ -- / / 36 . //1 1 \ / 3 /// 1 1 -22 . C / . / 'flv - x , --F , .. . I ... ... . BE,~VER PO~f\SE OND ADDITION / Â· -2,4 .. C ~1 4 \\ m l . I. I . ILÂ» .. I. 1.Â§ . 029'k, 1 - I I IC . 0 IC - - ... ... . .._...,_,-- - ...L ... .13. Â·A . a. - .- - \\ VII l/rr-7 / --Ll / / \\ 4.,AY i---ft I Ill V ..8 Wkr' I C . 1/ La-/9 ) h.1 - 4 =UmÂ»,4-Â«1- Il 1 Cil CA-/ %82Â£:ro) f 747Â« I il /7 10 50 -0 7<L==E C-))1 ~ i -111 6Â»1. -4 Ttat-7, 1 1 1- 1 - I . 1 ~ t~ ''l ~ i 1 1 1 920 1-\3\y / '11 11 cGi/ X 77213 ZOO f *411?40. if-f 1 ,, } V C ls-,dz Â£) 1 j /fl Ill c / q/jl ~14**h) f /ril \9 Mti#+~P r f.Y.j" ' lili V/- -7 j j ilit 3Â» 1 IE/------01 1 152 1 1/ Cha<<TD>55>99/ jub-7>~ 4 46~ ~ ,~ ~ ~ - %1- t- f --ete-- 1 1 1 1 I \9Â§-1 \ j V *7731.8 ~6 / 7 / A f &- n <i C LU . to - \1 7 imiEs , 4 eDÂ· S Crj j f-\ 4. ... ./. 9 } il. I \ *7725.7 j A- 1\ / C:* 4 ) // f T* . .* 772/.3 3-- \ C l.5 k tj . LIT \)tr443 53(2-ft- 5f~- Â« 77,0-3 /~~ lit 2 lith i ~ \1 43 \ 1 0 Cl d I. 00 1 3-' t ' 4 r- , \0 . i \\0 1 rk rl liv 1 X 4 \\\ / L ~ // 0 / 11 . 0. ..\.-I.----- - . - I ./ 940 (2 0 11 4 7 11Â·32 0111 1-t t ACTIVE REALTY June 15, 1987 240 East Elkhorn Avenue, P.O. Box 2957 Estes Park: Colorado 8051 7 (303) 586-9551 Bob Dekker Town of Estes Park Public Works Estes Park, Colorado 80517 Dear Mr. Dekker: As per our telephone conversation, attached, please find an investment analysis on 390 Elm Road. On behalf of James and Robin Nytes, Sellers, Century 21- Active Realty would appreciate your consideration of this property for the location of your new Public Works Building. The information contained herein shows that this property would help support the proposed financial endeavor you are considering. Should you require further assistance or analysis, please don't hesitate to call on us! Respectfully, C..7pud . 64~ AÂ«D Patricia A. Bridgemari- Sales Associate PAB/gms Enclosure CC. James and Robin Nytes Each Office is Independently Owned and Operated IR 1.1-w 1,1.~11,1 '.1/,2.21.4 2Â·Â·1~116 Ar.Â·Â·f -,1..~1. ~t:1.r'.t''d,1 tiÂ·M.,1~1';,iÂ·Â·tÂ·Â·~~,;iÂ·. ..1,~ p ,.;,fr u - ....1- 1 H 1 1 **iati *,6 M. 4, 1,201,11=~ I'.-,1 1 4 't Â· :I \ . --L &= rj '' 1 .... - . .4 '7 -- - . -i, L .1 . 7 ... .2 ....4.. i. 't ' 11 11 1. 'A .,r. 1 .4,1. ~~ .+ 1. f . Each office i, indc':2ndcntly owncd and operated. 'r . r..... .. , 10 ''M- " .-' I. B '11 . . 2 2. 6 3-" INCOME PRODUCING PROPERTY bbl: . . I t. . I -- .., Date: June 12. 1987 I. f 26. I f 1 '. Prepared by: Trish Bridgeman 4 . M .4 . /24 .:: :/ I t 4 4 i. LOCATION & DESCRIPTION Address 390 Elm Road Estes Park, Colorado 40517 Type of Property l A rpqirlential anrl K oninmerrial rental q Approximate Age vari eq Construction varies Vicinity of North of Highway 36. West of Landfill Allocation of value for subdivision purposes: vacant 8.5 acres $100,000 , improved 4.15 acres 275,000 R. TERMS Purchase Price: $ 17'i. 000 Existing Loans: $ nnruâ„¢ginnahl e Equity Required: $ 375.000 Purchase Price of $375,000 includes addition of a 1 bedroom and a 2 bedroom apartment in the main home, allowing 3 rental units. Iii. FINANCING First Loan: Lender NA Interest Rate Original Amount $ Remaining Balance $ Original Term ,- ~ .~, . Â· Remaining Term Payments Second Loan: Lender NA Interest Rate Original Amount $ Remaining Balance $ Original Term Â· 6' - Remaining Term - Payments / Amortization Other Loans: ** assessed valuations below will change upon subdivision, more than likely, land value will remain the same on 4.15 acres and be the same, or more for the 8.5 acres, resulting in an increase in combined tax. IV. TAXES Assessed Valuation Buildings $ 34,900 . Land $ 9.530 ** Personal Property $ Total Assessed Value $ 44,430 Real Estate Taxes $ 2.644.53 * - Escrowed? NA * estimated using 60% of 1986 mill levy of 99.202 and 1987 assessed values. for purposes of thÂ·is analysis, I am using 1986 tax of $2.694.53. V. DEPRECIATION INFORMATION Value of Improvements: $717.250 Recovery Period 31.5 year R T, * Method * may be ab le to lise part 27.5 year Personal Property: $ Recovery Period Method D ' ' ---72Â·:c c 7.** .00 5 is:/ 21 14&434:5-Â¥219~~~rÂ·1Â·Mif<. " 65: E/k :%2: .. 4Â· 4333. 711 -42%93~}~ll f-*-i,Di'Cut-ay.'.reth . 1 497Â«41Â·,4,4Â«431Â«Â«': " - U... 0 - 1.1.R[J,>,16-1.-w-,NE,?64.itt . Iria f 13 i .22. . 7*~41Â£ fi:4Â·:46j~,c,C: 6, I .- 3 1 , ./.It 1 1 ... s:J : 1 1 )'\:Â·Utt 'Â· ".1.112 4.3'ibil 449:91,1 .- 1 . Â· /4~:1Â·2... ':ju--0,% , :f'.3--Â£2*is 44 ' ARi5 ---C . .1. e Â· â€¢â€¢ . :1.- 9.41%1..'..Acth#BE,7*ak . 194 .:Â·)-i j.....5 'U-/. *gitÂ·'K - ./ â€¢- 0 , 11 i . $ g. 2 0 Â· .... ) h Â«14 . - 0 e . .C N. . 3 1 5. nu li= 22 2, ./ - .1 , :g-: :Zi .:CS. .r, - Â¥Â¥.S 1 . t.:t 5%; . 3 . .92 26.8 U'' 5:5: I... S 1:i: 5 .9 EE' g .. U - I , Mas- --- -:=Ss I . . -. I - - I ncp 1 1 2516 45 8:Et: R==: g:: u,... 6 :23X :<i im :1& zag: 1:1 311:1 .. . T 31 . /3 1 , 63.6.--fEE .:h '. : Cl 6. 5: 41% .-J 292 92 .1 L I ./- ....0 1 -Ell y.- . . -6- I . ./. E 4- I ---Â· 1.- ' 21 -0 e m- . C / 0 . .. -I. I. % w 7 Â£'SS V Â·01Â·5 IN7 499 Â·~ ,~ Â° E:i: 236 &52 F -CL- --0 f 11 , . m .2 â‚¬ C 9 N .00 9 -- r.sh 4,44.C:" 6% .Â£9.2,2 :353 5,0 6:: 0 - 6 .Lilli :* 5. 0 1. .- 2 2 :*.5 . .O- C. - -9:3: 3%:E p.Â¥ Â·:,5.r 7 .0 09 . I O.- U U ./. .&: I. U - 0-U - .0:w ... '-'' . U.... U.: 0...2. 5364 Er 1 3 ;fti . t .6.0 6- 6/. U. 7- d n - ...0 ... 2. . 32 ~ =SL- 47 4 . ..0 . 6 ... d . 1 I .- .4 14 . 6 â€¢ U .*. I. . O - I .â‚¬ -C :- 2 eli - r - U. 1- Ir ,,y V -7 1 . . 0 1 ..1 - .MIOr . A ' i,- .1. r IN- C. 2 1 -0. :t.12 p/ 1 4 1 k j/1/ // 0 / . 3:,1 4 1/ :1 j ... -5 E:- . 11 il , , 1 ~ , 3 : ; n, 58 : 6 *3 . . 3.6/1 I . tri 0 ./. 4 '' 4 4. i. 6. 0 . - - ~44 9 ' .... 6 ... . I 6, CO ..1 0 Â· Â· , . es g 2 Et:< Â£:3 -. 24, Ar:. 83# U 0.0. .-It t, 6 95&1 U/W , ..7 . ~ 11 + I ,â€¢ D ' 0 :321 !& I f --' . %' J.-el V, J - 6. . -e rl ' , . g:. .. Â£.\ 5.- -- .56,3 J ..... . 522 42: 0 .0 . 52 Y'." ... D-- .~. 1:15: i .... I 5:Z: :f: 14-5 "556 -- 4 *IC. 6.66 --- d ....4 .:<Z a 7: .OC A j . i. . . 4. azz - - . EN dj L ....iErÂ·,Â·..Â· LÂ·U f Â·'15 4. it'.3.4-r .... 1. ' -.1 uu 6, * i.ic)0 .4 3 1 00 .... c fid; 1 :'06 01â€¢1 0-1, "i, .n4 0 jiL-A '' #w-'P -Do, . . 1, 4../... Pue . ' ." .65 . 6.1 15 141 JO ...11 6-b '44 06 6 01 1 '5 JO 9 1 %'-'4~J D Â· â€¢ .05 .09 * â€¢'wal, :â€¢â€¢ , 0 8,4 .0-41 . & 6,1.Dâ€¢ â€¢ sâ€¢â€¢i ,Â·ir< 00 0 1 1..â€¢4%.0. 00 I â€¢0-91 :â€¢w ?.ic .tr:*1.< I .4 ./. ./. 0/1.0 Pul ' 61% IDâ€ž p . , .....1 46 S k S. E.'* 5 E 7. N. U. 00 4/1 J.1-J 45' " 6 0 12.0 i.# 4 /'"0 4/1 e EA : /.44// Ac. f 3 9* 25 05 â€¢ , 5 .0-41 Â£, L..Â·/â€¢ s. 2 7*. 4-:~../â€¢ 1 1 0 "11 â€¢1"5 Pull Jo â€¢Mi' I . 1. 4 .1 â€¢ 1â€¢ wlt, 1, r. 4, .SCHEDULE A PROPERTY DESCRIPTION Â· ORDER NO: 24580-RME 1., A tract of land situate in the Northwest 1/4 of Section 26, Township 5 North, Range 73 West of the Sixth P.M., Larimer County, Colorado, which considering the South line of the said Northwest 1/4 as bearing N 89 degrees 44'45" W, and with all bearings colrtai ned herein relative thereto, is contained within the boundary lines which begin at a point on the South line of the said Northwest 1/4 which bears N 89 degreA 44'45" W 132.00 feet from the center 1/4 corner of said Section 26, and run thence N 89 degrees 44'45" W 1192.16 feet along the said South line; thence N 00 decrees 22' W 664.23 feet along the West line of the Southeast 1/4 of the said Northwest 1/4; thence S 89 degrees 45'50" E 265.07 feet aldng the North line of the Southwest 1/4 of the Southeast 1/4 of the said Northwest 1/4; thence S 40 degrees 50' E 93.40 feet; thence S 55 degrees 39' E 405.47 feet to a point on the East line of the Southwest 1/4 of the Southeast 1/4 of the said Northwest 1/4;.thence S 00 degrees 11' E 34.40 feet along said East line; thence S 89 degrees 45'20" E 531.14 feet along the, North line of the South 1/2 of the Southeast 1/4 of the Southeast 1/4 of the said Northwest 1/4; thence S 00 degrees 44' E 332.32 feet to the point of beginning. 4 , ,. S'1'li~J0rA.12'1' '1'I'1'I IC GUARANTY COMPANY L)2021-144:1 ESTIMATE OF PURCHASER'S CASH REQUIREMENTS Pl/ ..1 6 8 -L -14 ACTIVE REALTY DATE June 12, 1987 240 East Eli<horn Avenue, P.O. Box 2957 Estes Park, Coloraao 80517 'T PREPARED BY: Trish Bridgeman i (303) 586-9551 2 NAME Town of Estes Park, Public Works ADDRESS 390 Elm Road approximately 17.65 plerpo p 1119 improvements PROPOSED SETTLEMENT DATE July 1, 1987 4..Â·<CHARGES CREDITS ' I J /: PURCHASE PRICE (includes addition of 1&2 L:9<1375,000 bedroom apartment) MORTGAGE 1st LOAN CO. MORTGAGE 2nd Deposits 710 , INTEREST ADJ US'].MENT - INTEREST RATE 1. F MOTGAGEE POLICY ~ ATTORNEY'S EXAMINATION Â· RECORDING FEES 3- DOC FEE: .01Â¢ per $1,000.00 - 37.50 TAX CERTIFICATE 5 REALTY TAX SERVICE ..9 - 1- R .,SURVEY CREDIT REPORT APPRAISAL FEE M.G.I.C. FEE ./ LOAN FEE _ ASSUMPTION FEE OTHER CliARGES . OTHER CHARGES CREDIT FOR CURRENT YEARS TAXES-JAN. 1 to July 1 1347 CURRENT TAX ESCROW based on 1986 tax - - TAXES $2694.34 FOR 12 MONTHS '' 1st YEARS INSURANCE - 1,200 INSURANCE$ FOR MONTHS FHA MORTGAGE INSURANCE PREMIUM SUBTOTAL 376,245.50 2077 Estimate of Purchaser' s cash requirements $ 374,168.50 THIS IS AN ESTIMATE ONLY PURCHASER Each Ollice is Independently Owned and Operated 6 4 /'' E CENT[_!RY 21 Â® ESTIMATE Annual Property Operating Data KLD 41} INVESTMENT ~ FOR THE NEXT \ Â¢"(?77~Imy,Â·.// SC)ClETY - 12 MONTHS Date June 12. 1987 i 2,â‚¬ Ae,Â£,A / 4.FO*Â»s ; 375.000 ~ 10-8 ic,~ 1 279:68-0 Loans L ; nonaksumable Purpose Tnvestment Analysis Equity $ 375. 000 / Nim. Town of Estes Park Location 390 Elm Rnari - FINANCING Typoo,Properly Residential Â£ ('n,nmereial TnE],ilm,D .Bal;,ncâ€¢ Payment ~ Pymt/Ye. Int,lu:t T:f m AseSSce/Appfaibcd VUlueS 1 st $ 5 Land : 9.530 21 % 2ndÂ·:2Â·5 Improveinunt $ 34 900 79 % 30 $ f Pe.,Son.1 P,operty $ Polenlial Total $ 4& 430 100 % 111 1. Adjustod Basis as of $ 284 $ 2 3 Cornmunw 1 SCHEDULED RENTAL INCOME .. 45 840 home per mo 2 Less: Vacancy ana Cfcoll Losi:505 7 3 209 2 bdr 500 3 EFFECTIVE RENTAL INCOME . 42 631 new 2 bdr 400 4 Pluh: OthÂ¢, Incomo new 1 bdr 300 5 GAOSS OPERATING INCOME 42 631 4 plex 230 6 Less: Operating Expenses 230 7 Accounting and Legal 50 0 230 8 Advanihing, Licenses and Pormits 100 ,) ') t) L J U 9 Pfoperly Inswancu 1 200 cabin 300 10 Property Managemom 10% - 4 263 mobile 200 11 Payroil-Resident Management : efficiency.200 12 Other 150 garage . .1 3 Taxes-Worker's Compensation storage - ' d 75 14 Pusonal P,operly Taxeg 100 garaqe 15 Acal E,tal. T..â€¢1 2 694 garage 225 16 Repuies ano 1.laintenanco 1 200 mtl bldg 500 17 Sciviccs-Elevator 18 Janitorial- Ttl Plo 3,820 19 Lawn x 12 x 12 20 Pool Ttl Yr 45,840 91 --- Auobish 22 Oinuf -- 23 , SupplicJ 24 Utlitti.:s-Electficity , 25 C a s una Oil 609 26 Sewer ana Wal., 27 T,:lephon. . , - 28 Othor 29 Miscellaneous 30 / 31 TOTAL OPERATING EXPENSES 7 86Ii 32 NET OPERATING INCOME 34 76(; 33 Lass: Annual Debt Service 34 CASH FLOW BEFORE TAXES 34 768 NATIONAL ASSOCIATION OF AEALTORS' dow.*P.J in Coopui.,tion with 4 .11111.N, thu Tt.u Atattmenis and ligwes piu;unloa REALTORS NATIONAL MARKETING INSTITUTE' hur.,41 ,.nut; not guar.ate.c. ace wcufuo 19/5 3 79Â·r601 t,oin ~ouicus w. bult... author,tative. Pfcpatod t,y ' Â¥11 ' CENTURY 21 INVESTMENT ,- I * I I. ..., - Investor's L A.A SOCIETY 7..'., .'L 13?tfify':gati~ J .I, .2 ...,~ . 1.2-~f~-f;:. .'.j.) 5.!F' 't... L delight. MEMBER, SPECIALTY: Â·.-- 1-Â·22.75 r=:15%14! i . . Â·~, ''Â·Â·Â·' :/-2 RESIDENTIAL&COMMERCIAL r.1.''.0 -J. ...:... 1 1-2 INCOME PROPERTIES keh -F:..'- ..1 7 2Â· :ig..," '... dry , ~.- 1 /1 1 : 71 .1..'. %Â·'A.1 4 . .... . 1 ...t '04 ~4 Â· Â· c.k. XPLA#/ 1 -tl..1, r, 1 . 1 r. ... 1,4 1 q Â· n i .:.Â· 4 31.....:ill?: r:UiftLC:' .f Ii'~f..14.61,1, . : -- - ~=rer-mi,A.4 4.34 'v - to work for you' . . 1. --â€¢ Â· v.-- .1.~ .: . -r. . :. 2 , 4. ./ . .,,4-_ ACTIVE REALTY INC. CAMUrY I. 1-2. p 1 it* 240 East Elkhorn, P.O. Box 2957 17#E- 7n Â£1. f.. i ; .Â· ,~. Estes Park, Colorado 80517 ' Business (303) 586-9551 ... *. Residence (303) 586-5619 ..i Â· T~n,Se~~e~fiEDo~s~li~n~N ' ~ . ; 1?7.'61.,I-~.u-.i~>:.ut:.Ii~Â·,1'..Ii-~i{:.-;-pi~ -4 tâ€¢IDE......rn.r 'w/rn AN' O/r' .rn ; -Il. Each Office is Independently Owned and Operated 1/4 21.'r.~ ..3,Â·:i,T'.4% 2 -iÂ·Â·.,2 ..1:..4 , .C'~ :i,1 -Â·.i-., w h The opportunities for this property are so numerous, no one person could possibly think of them all! I have a few suggestions/fI'ni sure you and your investors will come,up 3 74.tÂ·*3.*r,T.8...9 1.1 1Â· >:f-Â·,t "...f-i' 13.:t.- .."iÂ· b,Â« ,.1Â· i,Â·. 1' % Pi/ with many more. Â·- ''/ 4 '., 4~ , Ihere are approximately- 10 vfcaRtacres of de<relopable land, subject to County approval This would be a terrific location for an employee housing complex, someone's business i :AlÂ·.:.,i, .fli -1.../1.Â·M 'Â·" close to home, more leasable space, ............................ Use the inves tment analysis' as -a-work sheet for your investors. The owner's home is not included in the income or depreciation figures. Add $700 - $800 - ? per month for rent, and 33% for depreciation if your ~investor will not be living in the owner's home. ( rent does not include the 900 gb unfinished room, which could be turned into a two i - bedroom apartment ) *Remember i~add a banagement fee to operating expenses, if needed. The owner's home could be rented as a whole to whomever, or very easily turned into a 4.1 three, or fourplex. .:..... ................... 1 .,4 .... .- ,- I; :, Please call anytime if you have any questions. I'll be glad to explain, or help you Â· .i . . ....% 4%- fill out the inves tment analysis. f This is a great opportunity for someone, and should 1/ sell quickly. . 1 ' Â·kÂ« .4 4 -b 20 . ' 4.. . 9. 4 i . ..4 Figures used for depreciation are based on currently used, and are +not suggested by < myself, nor Century 21 Active Realty, the remainder of value oIl land of 15% is based on County Assessor's assessed value. h :. /7 , . ok_ 4421..LOGÂ«n 6\JU 60 - 91 =4//2 Viia,4- 46757(,larf/'.A_-0 Â¥ .giale 80 D .t: 39(1 171 m R 0.71 1$350,000.00 . - Ideal LOCATION: Above Park Fntrance Fâ‚¬tate'R .,1 I nrUN,vviE: Income Property ZONING: Commercial 2 07 Commercial , 1,LDC. SIZE: Vari 01 19 -< LOT 51: Apx 19.65 &_312 '~UNER'S HObE ; setting. LEGAU Metes and Bounds - LEASUMENT: $ See Inves tment Analysis -~Â·Â« 3 K 1 '~RESIDENTIAL RENTALS LEASE TERM: all tenancies Tare month to month Â· TA.xES: $2,694.34& 19813_ ~ , 5 4 : : COMMERCIAL RENTALS WATER: Well + s tg tnks SEWER: 2 septic tnk+leach N 1, .i: f.4'....., DEVELOPABLE LAND * ELEC: Town GAS: Public + Propane EQUIPMENT INCLUDED. complete list in o ffice tap deb: UTSD $900 due, 14 units value:$20,000 4 - 7.-< EQul,MENT EXCLUDED: Tenants fixtures and personal K *subjectâ€ž to county approval possessions, list in office for owner's home Â·'' 9 LOAN: Apx $270,000 Private, nonassunable Â· :.., ., +. Â·e.Â·-. 01-1 iu fy TERMS Cash, Cash to new loan 74*--in:21 RENwaKS: Owner' s home: apx 2500 44, 3 or 4 bedroom, 3 car garage, + apx 900 [Punfinished room with stubbed in plunbing & separate entrance. ..Â·-7 residential rentals. 5 conmercial rentals. Great location for development of much needed employee housing for Estes Park! * INVESTMENT ...ANALYSIS Lk tf, 7.. L. 1. 1 1 FIRST YEAR CASH FLOW (BEFORE & AFTER TAX EFFECT) Gross Scheauled Income f- 0 4 .:j...r......5-$32,640 45,840 Â· A Lusa: Vacancy / Credit Loss ( 7 96) ; '- ...0, -.. viÂ·,Â·Â·,- z,285 3,209 Rental Income .41,0..iN:,149~* 30,355 ~ 42.631 0' Plus: Other Income Â·r, .::'t >Â© ; 0 Â·Â·,Â·i- - 1.3 .,gil .... 1-:t{)=iÂ·nt; ..NY/ ,34- Gross Operating Income - , j .....'.1:.~ 1 '.: -f:' 1-1,3.2, $ 30,355 42,631 Luss: Operating Expenses (does #46/ include mngmt)' Â· 7 79/ 3.594 7.863 70 /< ' 4 26,741 34.768 Net Operating Income .- Less: Debt Service Equals: CASH FLOW (Pre-Tax) ~ ... A.,1...:': .:Â» 3'c:.= d..Tilfee.i,Ws. . . 1 34,768 Tax Benefits 34,768 Net Operating Income i ...-.$ ': 1 .4 ..i .'12..525 :!IW-,2.4174 .,Â£11 Less: Loan Interest Less: Depreciation 4441+A-1 #**41 R}* 1 411# -n /Wh ~Â·4\ 4/ 2. 6.897 Equals: Taxable Income (LOSS) 2' ~9':''vt. ' '~ 1.'' 'Ate]194'-. Â·$ 27.871 Multiply by: Tax Bracket ( 28%) -28 96 Equals: Taxes Saved /Paid Â·Â·. ' 7.804 CASH FLOW , ' $ 14 . 768 Tax Results -7.804 - Net Spendable Income Â·... , 26.964 I . 041 -- -- - - /b#(Aa CENTURY 3 (,2 1987 Cclitury 21 K.:al 66Ue Corporation as trud:u fur 111: NAF. 49 .Ilid '- - tr.id. iturk. 1 MI ItÂ«ESTMENT of Century 21 Real Glate Corporution. Equ.111 lowing Oppoduaity Q . te ,/1 SUJUY. EACH OFFICE IS INDEPENDENTLY OWNED AND OVOLATED. ' *=t-my 4 .1 4 OWNER: Nytes poss: 3 days -after DOD for ** TO SHOW:Call Trish AGENT: Trish Bridgeman ** Owner' s Hame PHN: 586-5619 COMM: S/4 OFFICE: Century 21 Active Realry PHN: 586-9551 b COMMERCIAL Information Deemed Reliable But Not Cuaranted - fruit- COMMERCIAL INVESTMENT ANALYSIS CONTINUED 390 ELM ROAD JUNE 12, 1987 PRICE & INITIAL CASH INVESTMENT : ' $275,000 GROSS SCHEDULED INCOME {GSI) : 45,840 ANNUAL OPERATING EXPENSES (AOE) : 7,863'I NET OPERATING INCOME (NOI&PTC) : 34,768 NET SPENDABLE INCOME (NSI) : 26,964 - GROSS RENT MULTIPLIER (GRM) : PRICE : GSI = 5.999 NET RENT MULTIPLIER (NRM) : PRICE : NOI = 7.91 CAPITALIZATION RATE (CAP RATE) : NOI : PRICE = 12.6% EXPENSE RATIO : AOE : GSI = 17.2% PRE TAX CASH ON CASH RATE OF RETURN : PTC : CASH INVESTMENT = 12.6% Â·ON FULL INVESTMENT OF $375,000 = 9.3% AFTER TAX CASH ON CASH RATE OF RETURN: NSI : CASH INVESTMENT = 9.8% ON FULL INVESTMENT OF $375,000 7.4% The figures and information contained herein are estimates for the purpose of Invest- ment Analysis. While information is deemed reliable, it is not guaranteed by Century 0 21 Active Realty, the preparing agent, nor the Seller. . 1 CENTURY 21 INVESTMENT SOCIETY .21,7.60."IUR:Wig~i VIN,9 MEMBER, SPECIALTY: . - [4, Â¥-1 6*Â¥11 i RESIDENTIAL& COMMERCIAL - INCOMEPROPERTIES IMI~.rit),El *flJthbYL.*Uhaimp~ 1 LEEd ULS ACTIVE REALTY INC. 240 East Elkhorn, RO. Box 2957 , Estes Park, Colorado 80517 Business (303) 586-9551 Residence (303) 586-5619 1*, TRISH BRIDGEMAN UP Investment Consultant Each Office is Independently Owned and Operated bob-b 1042 â€¢0 4. NU)N / 2/ /9123 4BJU - I --l 4 LU 0 1.1~ 4 k i / -2-/ -3 25 4 1 M i 9%1 r kit f / %'8 U < 0 Z J 10 1 4 i Oog WED 0 LL 00 moÂ«*2912 % 1121 4 1 -1 Â§ 1 4, .4..e -o -r-T-g 6 1 S ..4.1 1.,,# 4 / AN . f .01-- 4 / f - 4---- i 5 If -1 1$16.3&.34(36;~&f-:,:dirit'.*/i 111 5 111 Z 344 T Ti'2~Â« i I -1 4 5 m KEY. 7 1 m ' 1 gil 1 -8%.% O 3 BM W (R# CE No lei / 42 11 FRi % <C Or-- CEJU C-1 â‚¬ ~4*Â·Â£9= - --1 3 1,1,111000 Ni 1 1 0- Ch . C. -, 2 3 21+FT- - - 20 10.0/ :-: C. Z CL : < Â¢ M U 0 N 0 CL' 0 . a lilli 0 - 4~ 40 -0 0 11 D 1- 4- 2 8L %* 1- 2 1 Â¥4.1 I '.-QR 4 2 |ZO 0 li-a. W.. 1 U.10 4 ~-199.6*E- -1- _ 3 0,11,0*01(1-31 1~~ ~ LE 1* CP 1. Z 8 - 15.1 1- al LU 4 *O 21 . 1 1 t /*la3dOh:Id N 89Â° 48' 1" W 1080.03' 1/2" PIPE H3N01S 335 41'- ET 382.23 GAVELL PROPERTY 55025 Aly3dObld bl]NO1S . LEGAL DESCRIPTION: The east 5 acres of that portion of Lot 5, Manford Addition to the Town of Estes Park, Colorado, lying South of Manford Avenue. (Copy of complete legal description and map attached.) UTILITIES: Accessable GAS: Accessable WATER: Town of Estes Park, line in street SEWER: Upper Thompson on Lot, Community Drive and Manford Ave. TITLE EVIDENCE: Title Insurance - Transamerica CHARACTER OF THE LAND: Quite flat, easy to build on. Good access; blacktop on three sides. ZONING: Commercial-Outlying PRICE: $325,000.00 - Cash (Offer to sell -at this price expires, June 30, 1987. ) Presented to: TOWN OF ESTES PARK, CO. May 12, 1987 0. M. NAGL & CO. by: Steve Nagl U . .. Description of the East 5 acres of that portion of Lot 5, MANFORD ADDITION to the Town of Estes Park, lying South of Manford Avenue, more particularly described as follows: COMMENCING at a point on the East line of said Lot 5 and the Southerly right of way of Manford Avenue, which is the TRUE POINT OF BEGINNING, said point bears South 63Â°03'50" East a distance of 1453.44 feet from the center quarter corner of Section 30, Township 5 North, Range 72 West of the 6th P.M., . thence South along the East line of said Lot 5 a distance of 436.70 feet to the Southeast corner of said Lot 5, which is monumented by an iron pipe; thence West along the South line of said Lot 5 a distance of 403.12 feet; thence North a distance of 643.87 feet to the Southerly right of way of Manford Avenue; thence South 62Â°48' East along the Southerly right of way of Manford Avenue a distance of 453.24 feet to the TRUE POINT OF BEGINNING. All of the above bearings are relative to the North line of the Southeast Quarter of said Section 30, bearing South 89Â°11'00" East; EXCEPT the South 25 feet of the above described property as con- veyed by deed recorded April 9, 1971 in Book 1457 at Page 986. .h*-6: 0.4. Nhaf 109. 12) 6Â·h j 7 . - I D 1. â€¢ 0 . 1 - , m ;Tic *cls A - . 4 e - - 1 . 0 14. ti A#. . k. U . ... 1 .0 - .. -I'll 0 17-ER *81Â«31 -t'l l--I . 1 . . . 1.-"le.9 1, 3 6/ 2 9 -M - 1 . 1 40//3.. . 'll' I. 2 15 .6 ' ' . I- 1 4 + 13 +C D .., f -r-I 4- - 6.12 4 C 1/ 0 11 '06 - '.'ptit. ~ 9,1 4. 6 4>04 - n 7. - -ig. 1/5 1-,tr Jb:Â·~ - 447Â·Â· -; 4 -- .434. 7~ IC.*'ED 2 .. ' telr . \% -94. , I 1 1 ---- I -I =VE. - c. &4 + f . 71 * ) in Fv ... 1*LU 4q. ~~-*l I RENTAL -22=2-----I.- - -- D LAX/ - IGnâ€¢ 1.0,7 V.AtwaYE,NUE TO L YOwl , Uj ,Â«, -.-2~r Ell.. -* 1 - ix I 1-/G' E-'f ~4E~t $TAMLE f PARK[ PUM CREEI .:# RODEO GROCJIDS ARA \ -/Nt I Â¥7. KJA"\ i. */Im ver ..... -- -. 1 h. STAMLEY PUK m-1.9- 1 E rrAL *oct. W--0 Po[1 * TBI. 1 . , 1 6 ,1 1 T' t. lir,+ M â€¢ N ,4 , : Li Â£ p. cL & ti .., 211 i 0 t ' ligz~ r=%E P 4/- 1 1*91 12 . . 11 n 1 , . . ..i-Â» --,4 . . 1 1 0 0 . * $ , teÂ·' l -mo'~ -9.:1~6 44*.41511Â·.Ur....+0'.6 . a A. nÂ»~ * tâ‚¬Â· ~ ~ Â·Â· ~ t.Â·Â· a ...... ' . ... , 1. F a. . .4 * . i 11 0 i\ . . 3. 2 4 .0 1. ' Bi. . . 11 1 444 /3 ~ Â·- 9 -r . : rtÂ»â€¢ OF UTES 'Al/ 4- ~ <. .- i 1.-At- MIG T}Â·COION â€¢ATER TREATIENT 9 â€¢: -â€¢ t. M.AM , y *. rÂ¥â€¢ - RE- 97,,R jf t.1 g ..r , I Â· 1. 1 1 7: i Z S G ... 4 Â·f: '->tir . yÂ· 1, '4' / . *F* i ** .1 ik~fil.t +bk' .7,3 : 3 91 '446 I I Nk . - . 1':r \42 r ./."F r f.h W Fill re 1 1 1./ 6 ' 1 I - r 14, 9 -* " ~ 1 --- 1, u 4 LIGHT AND POWER DEPARTMENT New Service Building Considerarions Size 12,000 sq. ft. Employee Parking 10,000 sq. ft. Department Vehicle Parking and Travel 20,000 sq. ft. Outside Storage 20,000 sq. ft. TOTAL 62,000 sq. ft. The present Light and Power service building is located on the land fill. While the building itself still meets most of the department needs, several conditions indicate a new facility should be constructed: 1. The entire surface around the building settles over one half foot per year making it necessary to build up the approaches every year. 2. The settling causes underground utility lines (power, gas, sewer) to shear off at the foundation periodically. This is dangerous and costly to repair. Also, the leach field no longer can be used, which requires septic tank pumping frequently. 3. The void under the building caused by settling is 4 feet deep in some areas. An exhaust system has to be operated 24 hours per day to remove explosive,methane gas from this void. 4. When this facility was built, energy costs were not a big factor. Now the entire building should be insulated better to reduce heating expenses. 5. More space is needed and adding to the existing building is not feasible. SITES CONSIDERED: 1. Deats Property - 1 Acre - $165,000 Pluses - Close to other shops Southeast slope - sunny Utilities close Minuses - Lot needs to be completely filled requiring retaining wall No room for expansion. 0 4 2. Williams Property - 1.5 Acres - $215,000 Pluses - Close to other shops Easily accessible -Â· r Utilities close Minuses - Great deal of excavation needed Size is restricted unless trailer house property can be purchased Would require "stairstep" building 3. McPhee Property - .86 Acre $7 Pluses - Accessible Close to other shops Utilities close Minuses - Too small. Cannot expand Great deal of excavation Little road frontage 4. Silge Property - 1 Acre - $55,000 Pluses - Accessible Close to shops Utilities close Minuses - Great deal of excavation Could not expand 5. Town Property - .75 Acres Pluses - No purchase necessary Utilities close Close to other shops South exposure - sunny Minuses - Bad Access In draw - construction problems No room for expansion 6. Town Property - 2.4 Acres Pluses - No purchase necessary Utilities close Close to other shops South exposure - sunny Good access Minuses - Road rerouting necessary Landscaping needed -2- 4 ... 7. Town Property - 8 Acres - FISH HATCHER'~ Pluses - Own property Utilities close Relatively level Sunny location Accessible Minuses - Further from downtown 5 miles from other shops Zoning? 8. Parrack Property - Dry Gulch - 4.63 Acres - $295,000 2 lots, 300' x 600' total Pluses - 5,000 sq. ft. building (Star - 50 x 100) 600' x 300' House? 1,200 sq. ft., well built 3 car garage, 36' x 30' 2 car garage, 24' x 24' Flattest ground in town Sunny Accessible Minuses - Long distance from other shops All utilities not available (well and septic system) Not sure what zoning allows Other properties may be available but no inquiries have been made at this time. Probably need additional guidance from council if research is wanted. Selection of shop location dependent on possible future plans to have all departments' facilities combined on one site. 9. 34&- 452-6 - f- de'$24, - SOÂ·Â£Â£- 0 -F-z* 21 U 432 9,00 0 -3- 0 O 0 0 O O 0 0 O 0 0 0 O 0 O N lo m 0 0 0 e 4 0 - 4 4 4 4 0 *JE 0 0 . 00 ,-1 In Ln In O -10 r- m 00 m 1-1 5 5 E-1 4 0 w 4, r- LO 0 0 - O al Z 0 0 0 0 0 0 0 4-) 01 0 0 0 0 0 0 0 H 0 C O 0 0 0 0 0 0 0 0 ...1 O - 4 4 IM- 0 4 m u Q 0 O 0 0 1-1 0 O 0 O O m LÂ»R Nrc â€¢F-1 0 m m m cn O (1) 3 m H-U m 14 > rot- E 00 Â·r-1 04~ 0 -1-1 0 C 0 0 0 0 0 0 C O 0 OJ 4 O 0 O 0 0 0 O 1 0 0 r- CD m O 0 0 71 8 4 4 4 4 4 4 4 4 CU -ID .-1 0 Â£0 m rt O In O (Cl C) -4 Â¢0 rl rt 0 m .1 (.4 Ln IN 0.2 CO R â€¢-1 0 N ,-1 0 - Al Q N 34 M 4-)41 04 9 -1 04 0 0 00 1-1 0 d a) 0 0- 0 0 O .r-1 0 0 0 O 1-1 0 0 O (6 0 1 In 0 1-1 1 0 0 0 4 + O . C) O . . . 1.8 (D o R I h LO ~1 1 Ul 0 LO 41 1-4 04 r-4 00 - r. LO N @ 2 3 N ,-10 m N m 04 + 10 Ln LO 0 1 0 00 Ln A . . . . . . I O N (,1 N N 01 r=. rr r--1 rt N I. 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