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DocuSign Envelope ID:C96AFABB-155D-4309-8C5B-76691BED5397 PICCOLO RAMO LLC PIN 9788168559 David B. Sutton appeared before the Board on behalf of Piccolo Ramo LLC to appeal the value of the property located at 402 W.Franklin Street, Chapel Hill. The current assessed value of the property is $738,900. A list of evidence follows: APPELLANT COUNTY 9788168559 Appeal 9788168559 County The appellant is requesting that the Board reduce the valuation citing the fact that at the time of purchase, the appraised value was lower than County's appraisal and is suggesting a valuation of$625,000. 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$619,292 for the property. As a result of this review, Orange County recommends adjusting the market factor on the land from-20%to-34%for a revised valuation of$618,500 for the property. The Board reviewed all documents and information provided by the appellant and the County. After deliberation and review,Mr. Beattie made a motion to accept the County's revised valuation of$618,500 for the property. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 Mr. Beattie made a motion to recess the meeting until 1:45 PM. Mr. Beattie called the meeting back to order at 1:45 PM. AKG NORTH AMERICA INC PIN 9824697043 Jeff Glock,tax representative for the appellant appeared before the Board on behalf of the appellant to appeal the value of the property located at 7315 Oakwood Street,Mebane. The current assessed value of the property is $17,185,200. A list of evidence follows: APPELLANT COUNTY 9824697043 Appeal 9824697043 County The appellant is requesting that the Board reduce the valuation based on the cost and sales comparison approaches. The appellant stated that the subject is primarily an industrial facility with an office added in 2014. Construction of this facility began in 1982 with 28,300 sq. ft. and additional space has been added over time due to the appellant's needs. The appellant stated that the overall weighted average age of the facility is 18 '/2 years old and contains approximately 250,000 square feet on just over 40 acres. The appellant stated that the manufacturing side is made of steel and the office is made of concrete/masonry. The appellant stated that the income approach was not prepared for the subject due to the lack of lease