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Docusign Envelope ID:41A5CO43-OEBB-4B4B-BB6A-9411707F7CAF <br /> Made the motion Richal Vanhook <br /> Seconded the motion Shannon Julian <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner TGAP The Warehouse at Appellant(if different) Morgan Fowler/Ryan, <br /> CH Owner LLC LLC <br /> Property Address 1316 W. Rosemary Street Parcel ID or Abstract 9788271139 <br /> Statement of Appeal: Request reduction in value based on a market proforma income approach and <br /> uniformity with other student apartment properties. <br /> Current Assessed Value $29,150,500 ounty Opinion $29,150,500 <br /> Time of Hearin 4:11 PM Appellant Opinion $26,286,300 <br /> County Representative Roger Gunn Board Decision $29,150,500 <br /> Evidence submitted by the appellant: <br /> • The appellant is requesting a lower valuation based on a market proforma income approach <br /> and uniformity with other student apartment properties. <br /> Evidence submitted by the county representative: <br /> • The subject is a 56-unit,215 bed student apartment complex in downtown Chapel Hill known <br /> as The Warehouse Apartments that was constructed in 1999. <br /> • Based on the attached Income Approach and the County's commercial property appraiser <br /> consultant's analysis,the current valuation is supported and no change in value is <br /> recommended. <br /> • GIS Map of Subject <br /> • Current Property Record Card(4 pages) <br /> • Income Approach <br /> • Commercial Property Appraiser Consultant's Analysis(4 pages) <br /> Motion of the Board No Change in Assessed Value 1 $29,150,500 <br /> Made the motion Shannon Julian <br /> Seconded the motion Richal Vanhook <br /> Voted For All BOER Members <br /> Voted Against <br /> Consent Agenda: <br /> Motion of the Board Accept Proposed Consent Agenda?: Yes <br /> Made the motion Richal Vanhook <br /> 15 <br />