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Docusign Envelope ID: D8F1F6B3-4E5C-46D1-9276-28B887499D7C <br /> Prove Provertv Owner Antoine A Puech A ellant(if different) <br /> Property Address 109 Church Street I Parcel ID or Abstract 19788274180 <br /> Statement of Appeal: Request reduction in value based on the building being very old and vacant: 100% <br /> vacant for over 2 years. <br /> Current Assessed Value $4,509,500 ounty Opinion $4,405,600 <br /> Time of Hearin 1:21 PM Appellant Opinion $3,500,000 <br /> County Representative Roger Gunn Board Decision $4,405,600 <br /> Evidence submitted by the appellant: <br /> • The taxpayer's opinion of value is based on the building being very old and vacant: 100% <br /> vacant for over 2 years only suitable as single office space with most people working from <br /> home. <br /> Evidence submitted by the county representative: <br /> • The subject property is a Class C office building with 4,693 square feet of first floor office <br /> space, 966 square feet second floor office area, and 414 square feet unfinished basement built <br /> in 1952 on.58 acres (25,154 square feet) located at the corner of Church Street and W. <br /> Rosemary Street. in Chapel Hill. <br /> • The highest and best use of this parcel is redevelopment. The parcel is good sized and shape on <br /> a prime corner in Downtown Chapel Hill. Similar parcels nearby have been developed in the <br /> last ten years with mid-rise buildings. <br /> • The County's commercial appraisal consultant recommends that the value of the building be <br /> minimal, and the land valued at$175 per square foot,which is similar to the sale prices of land <br /> in the immediate vicinity. <br /> • Based on this recommendation, The County recommends reducing the value of the building <br /> from $631,900 to $3,500 and increasing the land value from$3,873,700 to$4,402,000 and a <br /> total revised valuation of$4,405,600. <br /> • GIS Map of the Subject <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> Motion of the Board Accept Coun 's Proposed Value: $4,405,600 <br /> Made the motion Saru Salvi <br /> Seconded the motion Richal Vanhook <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner West Franklin Appellant(if different) <br /> Preservation Partners <br /> Property Address 206 W. Franklin Street Parcel ID or Abstract 9788264981 <br />