Board of Equalization and Review - April 25, 2012 Date run: 5/10/2012 9:10:33 AM NCPTS V4 TR-121 Appeal Docket Report Report Parameters: Calendar Pk: TIME ROW NO. 5 LEVEL Docket Date: CASE NUMBER 4/25/2012 APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 1 BER 11-BER002865 37058 557 REALTY LLC / FELLERS, SCHEWE, SCOTT & ROBERTS, INC. PROPERTY TAX MANAGEMENT ATTN: TERRY LANDERS 20318907 N REI 0001967670-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV /LVWLQJVRIVKRSSLQJ FHQWHUVIRUVDOH &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI &RXQW\ PRYHVIRUDUHGXFWLRQLQ YDOXHWR 0 6,658,400 3,975,300 01 REDUCTION 5,927,000 01 REDUCTION 5,778,800 PB/HJ 9:00 AM 2 BER 11-BER003145 34189 ARROWPOINT ASSOCIATES 1900 / THOMSON REUTERS 20322101 N REI 0001967958-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV &RUUHFWLRQRIDFUHDJH &RXQW\ V&DVHFRUUHFWHG DFUHDJHWRUHIOHFW DFUHV7KHUHVXOWLQJ YDOXHLV6WDII UHFRPPHQGVDUHGXFWLRQ LQYDOXHWR 0 2,181,500 1,836,700 01 REDUCTION 1,850,600 01 REDUCTION 1,850,600 PB/HJ 9:00 AM 3 BER 11-BER002956 40229 BMW PROPERTIES LLC / THOMSON REUTERS 20316107 N REI 0001967422-20112011-0000-0 01 Above Market )RUHFORVXUH1R 6DOH'DWH6DOH3ULFH 732SLQLRQRI9DOXH 1RQHJLYHQ 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RQHSURYLGHG &RXQW\ V&DVH9DFDQW ODQGYDOXHGLGQRW FKDQJHIURP &RXQW\PRYHVIRUQR FKDQJHLQYDOXH BAGBY, DAVID 0 8,300 9:00 AM 4 BER 11-BER003176 39636 BRI 1828 ARROWPOINT LLC / EASLEY, MCCALEB & ASSOCIATES, INC - ATTN: NEAL COOPER 20322102 N REI 0001967961-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 5HQWUROOILQDQFLDOV &RXQW\CV&DVH7KH LQFRPHDSSURDFKXVLQJ 1/$RIVTIWDQG PDUNHWUHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI &RXQW\ PRYHVIRUDUHGXFWLRQLQ YDOXHWR 0 8,607,700 PAGE 1 of 14 0 02 NO CHANGE 5,500,000 01 REDUCTION 8,300 02 NO CHANGE 7,280,000 01 REDUCTION 8,300 PB/HJ 7,077,700 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 5 BER 11-BER003161 39638 BRI 1828 ARROWPOINT LLC / EASLEY, MCCALEB & ASSOCIATES, INC - ATTN: NEAL COOPER 20322103 N REI 0001967964-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 5HQWUROOILQDQFLDOV &RXQW\CV&DVH7KH LQFRPHDSSURDFKXVLQJ 1/$RIVTIWDQG PDUNHWUHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI &RXQW\ PRYHVIRUDUHGXFWLRQLQ YDOXHWR 0 8,870,800 7,400,000 01 REDUCTION 7,405,500 01 REDUCTION 7,405,500 PB/HJ 9:00 AM 6 BER 11-BER002711 40902 CIVF I-NC1BO1 LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20317104 N REI 0001967447-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUQRFKDQJHLQ YDOXH 0 3,283,300 2,700,000 02 NO CHANGE 3,283,300 03 INCREASE IN VALUE 5,150,800 PB/HJ 9:00 AM 7 BER 11-BER002426 41354 KENKAYLA REAL ESTATE LLC / SPECTRUM PROPERTY TAX ADVISORS INC ATTN: ROBERT M LELAND JR. 20316206 N REI 0001967438-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH7KH LQFRPHDSSURDFKXVLQJ PDUNHWUHQWLQGLFDWHVD YDOXHRI6WDII UHFRPPHQGVDUHGXFWLRQ LQYDOXHWR 0 1,320,500 1,092,800 01 REDUCTION 1,092,800 HJ/PB 9:00 AM 8 BER 11-BER002673 40608 TEXTRON INC / PARADIGM TAX GROUP - ATTN: ERIC VINTON 20324103 N REI 0001968023-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUQRFKDQJHLQ YDOXH 0 7,101,800 7,101,800 02 NO CHANGE 7,101,800 HJ/PB PAGE 2 of 14 750,000 01 REDUCTION 5,000,000 02 NO CHANGE DECISION COMMENTS Changed from the cost approach to the income approach per BER decision. Board of Equalization and Review - April 25, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 9 BER 11-BER002420 41474 WEC 2000B-CLF7 LLC / SPECTRUM PROPERTY TAX ADVISORS INC ATTN: ROBERT M LELAND JR. 20318909 N REI 0001967675-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 3URIRUPD &RXQW\ V&DVH7KH LQFRPHDSSURDFKXVLQJ PDUNHWUHQWLQGLFDWHVD YDOXHRI7KH FRXQW\PRYHVIRUQR FKDQJHLQYDOXH 0 2,672,100 2,587,400 02 NO CHANGE 2,672,100 02 NO CHANGE 2,672,100 PB/HJ 9:00 AM 10 BER 11-BER002587 41036 WINDSOR AT SOUTH POINT LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20320210 N REI 0002621050-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG3DUWRIDPXOWL SDUFHOVDOH/LVWLQJ FRUUHFWHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUDQLQFUHDVHLQ YDOXHWR 0 3,121,500 2,700,000 03 INCREASE 4,874,300 03 INCREASE IN VALUE 4,874,300 PB/HJ 9:00 AM 11 BER 11-BER002568 41038 WINDSOR AT SOUTH POINT LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20321107 N REI 0001967923-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG3DUWRIDPXOWL SDUFHOVDOH/LVWLQJ FRUUHFWHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUDQLQFUHDVHLQ YDOXHWR 0 1,132,700 1,000,000 03 INCREASE 2,862,900 03 INCREASE IN VALUE 2,862,900 PB/HJ 9:00 AM 12 BER 11-BER002575 41037 WINDSOR AT SOUTH POINT LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20321108 N REI 0001967925-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\CV&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG3DUWRIDPXOWL SDUFHOVDOH/LVWLQJ FRUUHFWHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUDQLQFUHDVHLQ YDOXHWR 0 1,427,400 1,100,000 03 INCREASE 2,781,100 03 INCREASE IN VALUE 2,781,100 PB/HJ PAGE 3 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 13 BER 11-BER002572 41039 WINDSOR AT SOUTH POINT LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20321211 N REI 0001967956-20112011-0000-0 01 Above Market )RUHFORVXUH1R BAGBY, 6DOH'DWH6DOH3ULFH DAVID 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73 V&DVHDQG,VVXHV 1RLQIRUPDWLRQSURYLGHG &RXQW\ V&DVH1RUHQW UROOVRUILQDQFLDOV SURYLGHG3DUWRIDPXOWL SDUFHOVDOH/LVWLQJ FRUUHFWHG7KHLQFRPH DSSURDFKXVLQJPDUNHW UHQWDQGYDFDQF\ LQGLFDWHVDYDOXHRI 7KHFRXQW\ PRYHVIRUDQLQFUHDVHLQ YDOXHWR 0 1,964,600 9:00 AM 14 BER 11-BER000909 36446 9801 SOUTH TRYON LLC / GUTHRIE, DAVIS, HENDERSON & STATON, P.L.L.C. - ATTN: S. DEAN HAMRICK 20310216 N REI 0001967303-20112011-0000-0 01 Above Market )RUHFORVXUH1R 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV 7RR+LJK 0 911,300 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGRQ 6RXWK7U\RQSDVWWKH :HVWLQJKRXVH%OYG LQWHUVHFWLRQ7KHFRXQW\ FRUUHFWHGWKHOLVWLQJE\ UHPRYLQJDEXLOGLQJDQG DGMXVWLQJWKHYDOXHRQD VKHG7KHUHFRPPHQGHG YDOXHLV PAGE 4 of 14 ERWIN, CHARLES APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION 1,750,000 03 INCREASE 2,267,600 03 INCREASE IN VALUE 517,300 01 REDUCTION 866,600 01 REDUCTION DECISION VALUE ($) MOTION 2,267,600 PB/HJ 570,000 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 15 LEVEL BER CASE NUMBER 11-BER001472 APPEAL ID 39653 OWNER/ APPELLANT AYRSLEY ARCADE DEV GROUP LLC ATTN: MARK GOOD PARCEL ID/ VIN CONSE NT ABS TYPE 20309508 N REI ABS NUMBER 0001967185-20112011-0000-0 REASON 01 Above Market STAFF NOTES )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION ERWIN, CHARLES 0 7,985,300 6,337,017 01 REDUCTION 7,693,200 01 REDUCTION 7,469,600 HJ/PB ERWIN, CHARLES 0 7,116,400 5,582,052 01 REDUCTION 7,116,400 01 REDUCTION 6,647,200 PB/HJ 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGLQ $\UVOH\9LOODJHRIIRI 6RXWK7U\RQ6WUHHW7KH EXLOGLQJLVPL[HGXVH 5HWDLORQWKHILUVWIORRU DQGRIILFHRQWKHWZR XSSHUIORRUV5HWDLO YDFDQF\IRUWKLV VXEPDUNHWLVDQG RIILFHYDFDQF\LV SHU.DUQHV7KHFRXQW\ XVHGDYDFDQF\UDWHRI 7KHFRXQW\XVHG 6)IRUWKHRIILFH UHQWDODQG6)IRU WKHUHWDLO.DUQHVVKRZV 6)DQG UHVSHFWLYHO\7KHVXEMHFW UHQWUROOVDUHSURYLGHGLQ \RXULQIRUPDWLRQDQGDUH LQWKHVHUDQJHV7KHUHLV DSDUNLQJGHFNWKDW SURYLGHVSDUNLQJIRU RWKHUEXLOGLQJV$SRUWLRQ RIWKLVYDOXHSURYLGHGE\ WKHDSSHOODQWZDV GHGXFWHG7KHFRXQW\ WKHUHIRUHUHFRPPHQGVD UHGXFWLRQWR 9:00 AM 16 BER 11-BER001473 39571 AYRSLEY RETAIL DEVELOPMENT GROUP - ATTN: MARK GOOD 20309506 N REI 0001967182-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGLQ $\UVOH\9LOODJH2QWKH LQFRPHVWDWHPHQW VXSSOLHGIRUWKLVSDUFHO 7KHLQFRPHZDV WKHFRXQW\3*, LVDQGWKLVLV EHIRUHFRUUHFWLQJWKH OHDVDEOHVTXDUHIRRWDJH WR7KLV,QFRPH VKRZVDUHQWRI 6)7KHFRXQW\XVHV 6)$OVRDSSOLHGZHUH YDFDQF\RIDQG H[SHQVHVRI7KLV EXLOGLQJZDV RFFXSLHGDVRI 7KHFRXQW\UHFRPPHQGV QRFKDQJH PAGE 5 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 17 LEVEL BER CASE NUMBER 11-BER001467 APPEAL ID 40161 OWNER/ APPELLANT AYRSLEY RETAIL DEVELOPMENT LLC - ATTN: MARK GOOD PARCEL ID/ VIN CONSE NT ABS TYPE 20309147 N REI ABS NUMBER 0001966698-20112011-0000-0 REASON 01 Above Market STAFF NOTES )RUHFORVXUHQR 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION ERWIN, CHARLES 0 3,217,300 3,149,100 01 REDUCTION 3,109,900 01 REDUCTION 3,109,900 PB/HJ ERWIN, CHARLES 0 3,067,600 2,823,300 01 REDUCTION 2,797,200 01 REDUCTION 2,797,200 HJ/PB 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVLQ$\UVOH\ 9LOODJH7KHFRXQW\ UHFRPPHQGVDUHGXFWLRQ GXHWRFRUUHFWLRQRI1HW OHDVHDEOH$UHD7KH UHFRPPHQGHGYDOXHLV 7KHVXEMHFW LQFRPHVWDWHPHQWVKRZ LQFRPHRIDQG WKHFRXQW\KDVD3*,RI 7KHUHQWVDVRI ZHUHLQWKH 6)WR6)UDQJHDQG WKHFRXQW\XVHV 7KHEXLOGLQJZDV RFFXSLHG 9:00 AM 18 BER 11-BER001469 40168 AYRSLEY RETAIL DEVELOPMENT LLC - ATTN: MARK GOOD 20309157 N REI 0001966720-20112011-0000-0 01 Above Market )RUHFORVXUH 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGLQ $\UVOH\9LOODJH7KH FRXQW\UHFRPPHQGVD UHGXFWLRQWR PAGE 6 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 19 LEVEL BER CASE NUMBER 11-BER001470 APPEAL ID 39576 OWNER/ APPELLANT CHARLESTON ROW ASSOCIATES LLC - ATTN: MARK GOOD PARCEL ID/ VIN CONSE NT ABS TYPE 20309510 N REI ABS NUMBER 0001967189-20112011-0000-0 REASON 01 Above Market STAFF NOTES )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION ERWIN, CHARLES 0 15,068,300 8,704,027 01 REDUCTION 11,148,400 01 REDUCTION 10,822,700 HJ/PB ERWIN, CHARLES 0 1,226,100 800,000 01 REDUCTION 1,050,500 01 REDUCTION 1,050,500 PB/HJ 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGLQ $\UVOH\9LOODJHRIIRI 6RXWK7U\RQ6WUHHW7KH EXLOGLQJLVPL[HGXVH 5HWDLORQWKHILUVWIORRU DQGRIILFHRQWKHWZR XSSHUIORRUV5HWDLO YDFDQF\IRUWKLV VXEPDUNHWLVDQG RIILFHYDFDQF\LV SHU.DUQHV7KHFRXQW\ XVHGDYDFDQF\UDWHRI 7KHFRXQW\XVHG 6)IRUWKHRIILFH UHQWDODQG6)IRU WKHUHWDLO.DUQHVVKRZV 6)DQG UHVSHFWLYHO\7KHVXEMHFW UHQWUROOVDUHSURYLGHGLQ \RXULQIRUPDWLRQDQGDUH LQWKHVHUDQJHV7KHUHLV DSDUNLQJGHFNWKDW SURYLGHVSDUNLQJIRU RWKHUEXLOGLQJV$SRUWLRQ RIWKLVYDOXHSURYLGHGE\ WKHDSSHOODQWZDV GHGXFWHG7KHFRXQW\ WKHUHIRUHUHFRPPHQGVD UHGXFWLRQWR 9:00 AM 20 BER 11-BER002434 41344 HALO HOLDINGS LLC / SPECTRUM PROPERTY TAX ADVISORS INC ATTN: ROBERT M LELAND JR. 20311307 N REI 0001967338-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHGRQ :HVWLQJKRXVH%OYGQHDU WKHLQWHUVHFWLRQRI, 7KHVXEMHFWLVDQROGHU %XUJHU.LQJ5HVWDXUDQW DQGDWLQVSHFWLRQZDVLQ DYHUDJHFRQGLWLRQ7KH FRXQW\UHFRPPHQGVD UHGXFWLRQWR PAGE 7 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 21 LEVEL BER CASE NUMBER 11-BER001475 APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE 39574 OKP PROPERTY, LLC - ATTN: MARK GOOD 20309501 N REI ABS NUMBER 0001967172-20112011-0000-0 REASON 01 Above Market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of 14 APPRAISER ERWIN, CHARLES PENALTY AMOUNT ($) 0 PENALTY DECISION APPR VALUE ($) 6,028,100 APPELLANT OPINION VALUE ($) STAFF REC 6,337,017 03 INCREASE STAFF REC VALUE ($) DECISION 7,988,500 03 INCREASE IN VALUE DECISION VALUE ($) MOTION 7,788,800 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 22 LEVEL BER CASE NUMBER 11-BER003308 APPEAL ID 37387 OWNER/ APPELLANT SAM'S MART INC / TAX ADVANTAGE PROPERTY SERVICES ATTN: DAVE PAWLOWSKI PARCEL ID/ VIN CONSE NT ABS TYPE 20311311 N REI ABS NUMBER 0001967352-20112011-0000-0 REASON 01 Above Market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of 14 APPRAISER ERWIN, CHARLES PENALTY AMOUNT ($) 0 PENALTY DECISION APPR VALUE ($) 2,034,600 APPELLANT OPINION VALUE ($) STAFF REC 1,640,000 01 REDUCTION STAFF REC VALUE ($) DECISION 2,034,600 01 REDUCTION DECISION VALUE ($) MOTION 1,738,700 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 23 LEVEL BER CASE NUMBER 11-BER003666 APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE 40552 SUN CHEMICAL CORPORATION / INTERNATIONAL APPRAISAL COMPANY ATTN: RICK BROWN 20310205 N REI ABS NUMBER 0001967293-20112011-0000-0 REASON 01 Above Market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of 14 APPRAISER ERWIN, CHARLES PENALTY AMOUNT ($) 0 PENALTY DECISION APPR VALUE ($) 3,418,200 APPELLANT OPINION VALUE ($) STAFF REC 1,600,000 01 REDUCTION STAFF REC VALUE ($) DECISION 2,414,800 01 REDUCTION DECISION VALUE ($) MOTION 2,147,400 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 24 LEVEL BER CASE NUMBER 11-BER002695 APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE 40852 VILLAGE AT WHITEHALL 112 LLC / PARADIGM TAX GROUP ATTN: ERIC VINTON 20309133 N REI ABS NUMBER 0001966659-20112011-0000-0 REASON 01 Above Market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of 14 APPRAISER ERWIN, CHARLES PENALTY AMOUNT ($) 0 PENALTY DECISION APPR VALUE ($) 5,958,500 APPELLANT OPINION VALUE ($) STAFF REC 4,000,000 01 REDUCTION STAFF REC VALUE ($) DECISION 5,148,400 01 REDUCTION DECISION VALUE ($) MOTION 5,036,300 PB/HJ DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. 9:00 AM 25 LEVEL BER CASE NUMBER 11-BER001491 APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE 40547 WELSH ADS NC LLC / THOMSON REUTERS 20310110 N REI ABS NUMBER 0001967278-20112011-0000-0 REASON 01 Above Market STAFF NOTES )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO 1$ $SSUDLVDO'DWH1$ 73CV&DVHDQG,VVXHV WRRKLJK APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION ERWIN, CHARLES 0 4,363,100 2,600,000 01 REDUCTION 4,290,800 01 REDUCTION DECISION VALUE ($) MOTION 4,290,800 PB/HJ 6DOHV5DWLR &2' &RXQW\CV&DVH7KH VXEMHFWLVORFDWHG2IIRI :HVWLQJKRXVH%OYG DSSUR[LPDWHO\PLOH IURP,7KHYDOXHZDV RULJLQDOO\RQFRVW7KH FRXQW\UHFRPPHQGV PRYLQJWRWKHLQFRPH DSSURDFK7KLVZRXOG LQFXUDUHGXFWLRQWR 7KHVXEMHFW KDVDOHDVHIRU6) 7KHFRXQW\IHHOVWKLVLVD EHORZPDUNHWOHDVHDV WKHDYHUDJHLQWKLV VXEPDUNHWLV6) 7KHFRXQW\VKRZVRQWKH OLVWLQJRIWKHVXEMHFWD FUDQHZD\DQGDODUJH SRUWLRQRIWKHVSDFHDV EHLQJDLUFRQGLWLRQHG,I WKLVLVLQIDFWWUXHWKH OHDVHLVPRVWFHUWDLQO\D EHORZPDUNHWOHDVH &UDQHZD\VDUHXVXDOO\LQ PRUHOLJKWWRKHDY\ LQGXVWULDOVLWXDWLRQVZLWK UHQWDURXQGRU PRUH,QDGGLWLRQWKHUH DSSHDUVWREHDQH[FHVV ODQGDUHDDGMDFHQWWRWKH URDGZD\WKDWFRXOGEH XVHGWRH[SDQGWKH FXUUHQWIDFLOLW\7KLVYDOXH LVGHILQLWHO\QRWLQFOXGHG LQWKHFXUUHQWOHDVH DJUHHPHQW7KHFRXQW\ UHFRPPHQGVQRIXUWKHU FKDQJH 9:00 AM 26 BER 11-BER003571 41504 ALLEGIANCE HEALTHCARE COR / THOMSON REUTERS 20316104 Y REI 0001967416-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 5,929,700 3,742,101 WITHDRAWAL 5,929,700 Withdrawn 0 9:00 AM 27 BER 11-BER003192 41243 BRI 1828 ARROWPOINT LLC / EASLEY, MCCALEB & ASSOCIATES, INC - ATTN: NEAL COOPER 20322139 Y REI 0001968020-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 56,100 35,000 WITHDRAWAL 56,100 Withdrawn 0 9:00 AM 28 BER 11-BER002631 41417 CEDAR FAIR SOUTHWEST INC / PROPERTY TAX SERVICE COMPANY 20315208 Y REI 0001967403-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 20,214,900 16,609,300 WITHDRAWAL 20,214,900 Withdrawn 0 PAGE 12 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 29 BER 11-BER000660 40698 EAST GROUP CHARLOTTE LKE LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 20315213 Y REI 0001967413-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 8,778,400 0 WITHDRAWAL 8,778,400 Withdrawn 0 9:00 AM 30 BER 11-BER000646 40710 EASTGROUP PROPERTIES LP / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 20324109 Y REI 0001968036-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 2,879,300 0 WITHDRAWAL 2,879,300 Withdrawn 0 9:00 AM 31 BER 11-BER002870 39237 LAKEMONT INDUSTRIAL HOLDING CO / THOMSON REUTERS 20315202 Y REI 0001967395-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 24,720,600 23,250,000 WITHDRAWAL 24,720,600 Withdrawn 0 9:00 AM 32 BER 11-BER003059 36846 MAERSK INC / THOMSON REUTERS 20322109 Y REI 0001967968-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 31,490,200 0 WITHDRAWAL 31,490,200 Withdrawn 0 9:00 AM 33 BER 11-BER003502 41535 PROLOGISMACQUARIE ILLINOIS- OHIO / THOMSON REUTERS 20315211 Y REI 0001967411-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 8,806,400 0 WITHDRAWAL 8,806,400 Withdrawn 0 9:00 AM 34 BER 11-BER001512 36747 REXROTH CORPORATION THE / THOMSON REUTERS 20321109 Y REI 0001967926-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 4,587,100 2,000,000 WITHDRAWAL 4,587,100 Withdrawn 0 9:00 AM 35 BER 11-BER003503 37190 SUZANNE MARKLEY 20324108 Y REI 0001968033-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 4,354,600 0 WITHDRAWAL 4,354,600 Withdrawn 0 9:00 AM 36 BER 11-BER002957 40492 W T CHARLOTTE LLC 20325105 Y REI 0001968044-20112011-0000-0 01 Above Market WITHDRAWN BAGBY, DAVID 0 11,269,200 0 WITHDRAWAL 11,269,200 Withdrawn 0 9:00 AM 37 BER 11-BER002046 41532 CABOT INDUSTRIAL PROPERTIES LP / STALLINGS GROUP - ATTN: JEFF ROBINSON 20310220 Y REI 0001967310-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 2,191,000 1,500,000 WITHDRAWAL 2,191,000 Withdrawn 0 9:00 AM 38 BER 11-BER003547 40618 EOS INDUSTRIAL AT CROSSROADS, LLC / THOMSON REUTERS 20311316 Y REI 0001967359-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 6,889,300 0 WITHDRAWAL 6,889,300 Withdrawn 0 9:00 AM 39 BER 11-BER003549 40616 EOS INDUSTRIAL CROSSROADS / THOMSON REUTERS 20311313 Y REI 0001967354-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 4,544,400 0 WITHDRAWAL 4,544,400 Withdrawn 0 9:00 AM 40 BER 11-BER003555 40657 EOS INDUSTRIAL CROSSROADS / THOMSON REUTERS 20311315 Y REI 0001967357-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 2,455,200 0 WITHDRAWAL 2,455,200 Withdrawn 0 9:00 AM 41 BER 11-BER003552 40630 EOS INDUSTRIAL CROSSROADS / THOMSON REUTERS 20311317 Y REI 0001967361-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 5,893,900 0 WITHDRAWAL 5,893,900 Withdrawn 0 9:00 AM 42 BER 11-BER003499 34187 PROLOGISNORTH CAROLINA LTD PARTNERSHIP / THOMSON REUTERS 20309145 Y REI 0001966693-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 834,600 0 WITHDRAWAL 834,600 Withdrawn 0 9:00 AM 43 BER 11-BER003494 41522 SUZANNE MARKLEY 20309146 Y REI 0001966695-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 4,906,100 0 WITHDRAWAL 4,906,100 Withdrawn 0 PAGE 13 of 14 DECISION COMMENTS Board of Equalization and Review - April 25, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 44 BER 11-BER003488 34178 SUZANNE MARKLEY 20310106 Y REI 0001967267-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 8,000 0 WITHDRAWAL 8,000 Withdrawn 0 9:00 AM 45 BER 11-BER003472 37200 SUZANNE MARKLEY 20310107 Y REI 0001967269-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 2,928,100 0 WITHDRAWAL 2,928,100 Withdrawn 0 9:00 AM 46 BER 11-BER003478 34183 SUZANNE MARKLEY 20311301 Y REI 0001967329-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 264,800 0 WITHDRAWAL 264,800 Withdrawn 0 9:00 AM 47 BER 11-BER003487 41521 SUZANNE MARKLEY 20311302 Y REI 0001967333-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 3,093,200 0 WITHDRAWAL 3,093,200 Withdrawn 0 9:00 AM 48 BER 11-BER003490 34185 SUZANNE MARKLEY 20311308 Y REI 0001967341-20112011-0000-0 01 Above Market WITHDRAWN ERWIN, CHARLES 0 376,400 0 WITHDRAWAL 376,400 Withdrawn 0 Notes: %(5SFO%KDVEHHQXQVFKGXOHGSHU(UQLH&DLQDQG$SSU'DYLG%DE\7KLVLVDQ$%SDUFHODQGWKH$SFOLVVWLOODWWKH,1)OHYHO,WZLOOEHUHVFKHGXOHGZKHQWKH\FDQEHKHDUGWRJHWKHU1RGDWHKDVEHHQVHW\HW UHPRYHGIURPGRFNHWDQGDGGHGWRGRFNHWDVWKH\FRXOGQRWDWWHQG$//0,187(6$&&(37('$1'$33529('$6/,67(')2572'$< 6+($5,1*+-'* Thursday, May 10, 2012 BER MEETING MINUTES - APPROVED AND SIGNED BY PAGE 14 of 14 BER CHAIRMAN DECISION COMMENTS