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DocuSign Envelope ID:C96AFABB-155D-4309-8C5B-76691BED5397 Yes: 3 Noes: 0 600 FRANKLIN SQUARE LLC PIN 9799268800.008 Dave Pawlowski appeared before the Board on behalf of the appellant to appeal the value of the property located at 1829 E.Franklin Street Unit H, Chapel Hill. The current assessed value of the property is $119,200. A list of evidence follows: APPELLANT COUNTY 9799268800.008 Appeal 9799268800.008 County The appellant is appealing the valuation on the basis that the income and expenses from 2018 to 2020 suggesting a lower valuation of$89,185. The same evidence and analyses from the appellant and the County were presented for this property as were presented for parcel 9799268800.001. Chris Mashburn from CCA stated that if the Board could place 80%weight on the valuation from the income approach, an allocated value of$112,741 would be indicated for parcel 9799268800.008. The Board reviewed all documents and information provided by the appellant and the County. After deliberation and review,Mr. Beattie made a motion to adjust the value of the subject to $112,741. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 FRANCHISE RLTY INTST PIN 9788168237 Rex Willoughby appeared before the Board to appeal the value of the property located at 409 W. Franklin Street, Chapel Hill. The current assessed value of the property is $5,101,300.A list of evidence follows: APPELLANT COUNTY 9788168237 Appeal 9788168237 County The appellant is requesting that the Board reduce the valuation citing the fact that the property was purchased in 1992 and has had a$2.6 million dollar increase in value since the 2017revaluation with no changes to the property. The appellant is requesting a reduction in value to the 2020 valuation of $2,501,900. Jimmy Milliken represented the County and stated that upon review of this property by CCA, CCA weighted the sales comparison approach at 50%and the income approach at 50%for a reconciled valuation of$2,543,827.As a result of this review, Orange County recommends changing the land market factor from-5%to-54%for a revised valuation of$2,550,300 for the property.