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Commonly Referenced Numbers

11 months ago

There has been some confusion surrounding the Yampa Building. Specifically, there are a few numbers that have been used without clear understanding of what each number means. Below are commonly referenced numbers and explanations of what each number represents:

$1.6 Million

This number is the "Assessed Value" of the Yampa Building, according to the County Assessor. See below for details on the difference between an "Assessed Value" and a "Market Value".

$5.8 Million

This number is listed as the "Replacement Value" in the Colorado Department of Education's (CDE) BEST Assessment (linked below). This assessment was completed by certified engineers identified by CDE.

$3.3 Million

This number comes from the CDE's BEST Assessment completed in 2017 (linked below). The $3.3 million number is listed as the "Condition Budget" of the Yampa Building. This number represents a cost estimate of needs for the building in the next five years. 

What is the difference between "Assessed Value" and "Market Value"?

According to Moffat County Assessor, Chuck Cobb:

Market Value: The most probable price that a given property will bring in an open market (exposed to the market for a reasonable amount of time). Or, in plain English, it's the price that a buyer is willing to pay for a property, and that a seller is willing to accept.

Assessed Value: Municipalities employ an assessor to place a value on a property in order to "levy property taxes" on it. To arrive at a value, the assessor looks at what similar properties are selling for, the value of any recent improvements, any income you may be making from it, and other factors - like the replacement cost of the property. When sales of properties are minimal or non-existent, the assessor uses statistics and modeling to create a value for a specific property. Factors such as the buildings construction type, its typical use, age, condition, improvements, total square footage, and land all are factors that affect the value set by the assessor. Additionally, for commercial properties, the use of the income approach for value is used frequently to determine the value of a commercial building. Factors such as office rental rates, sales, and generally accepted expenses are used to determine a net income and that is then multiplied by a cap rate to determine the value of a commercial property. This approach would be more typical for a building like the schools. Values set by the assessor are only completed every two years in Colorado, and is based on a collection period of 24 months in a rears... Hence the fact that because of the ebbs and flows of a market, the assessors value may be lower or higher than what the current market will bear. Lastly, since properties like the school district's or other municipal buildings are tax exempt, the assessors values are not scrutinized like one that is taxable.

The Bottom Line - Market Value and Assessed Value do have some similarities, but in no way should they be considered equal.

Board of Education Goals for Repurposing the Yampa Building
Goal 1 - The Board wants the building to stay in the public's hands.

Goal 2 - The Board does not want another empty building in Craig.

Goal 3 - The Board does not want to be a landlord.

Appraisal Information

11 months ago

In June of 2018, the school district first engaged an appraiser for the Yampa Administration Building. Bob Stevens, from Stevens Real Estate Services in Grand Junction, first presented to the Board in August of 2018. He recommended a phased approach for the appraisal. The first phase being a marketability analysis, which determines whether or not there is a real, effective demand for the property. Effective demand is defined as the level of demand that represents a real intention to purchase by people with the means to pay. The second phase would be the more traditional appraisal. Mr. Stevens completed the first phase to determine marketability in November of 2018. His recommendation to the Board was to not complete the second phase. "There is... very little effective demand" (emphasis added), he said, "I would strongly recommend against paying me to go ahead and do a full appraisal". The Board did not re-engage Mr. Stevens to complete the second phase.

Board Meeting Minutes:

June 28, 2018 Minutes

August 30, 2018 Minutes

November 29, 2018 Minutes

Frequently Asked Questions

11 months ago

What would the District get out of this Transfer of Ownership?

If the Board votes to transfer ownership to Moffat County, there would be approximately $3.3 million dollars worth of repairs that the District would not need to budget for in future years and would not need to ask the community for. In addition to that, there would be a small operational cost savings. Lastly, Memorial Regional Health has offered to discount Health Services for the District over 3 years, for a total savings of $218,126.91. All of these sources of saved money can be used to do new, different, and better things for the students in Moffat County School District.

Who else expressed interest in the Yampa Building?

Superintendent Ulrich presented to City Council and the County Commissioners in April/May of 2018 to brainstorm possible uses of the building. Moffat County Christian Academy (MCCA) and the North West Colorado Arts Council (NWCAC) also inquired about the building. However, none of the above mentioned organizations submitted formal requests regarding the building. 

Click here to view NWCAC's statement on the matter.

What is the appraised value of the building and property?

A formal appraisal was not completed on the building. Please click here for more information on the process the Board went through regarding an appraisal.

Why wasn't the Yampa Building put on the market?

One of the goals the Board has had since the decision was made to vacate the Yampa Building is to keep the building in the public's hands. If the Board chose to put the building on the market or do a bidding process for the building, the Board would lose the ability to ensure the building stayed in the public. Another reason is because a formal appraisal was not completed for the building.

Please click here for more information on the process the Board went through regarding an appraisal.

The Transfer of Ownership

11 months ago

On July 30, 2019, the Board of Education will vote to transfer ownership of the Yampa Building to Moffat County. If approved, a Quitclaim deed will be signed by the Board of Education President, Secretary, and the County Commissioner Chairperson. The Quitclaim deed includes a stipulation that the building must be used for "charitable or public health care purposes" for the next 30 years.

Treatment Facility Information

11 months ago

Memorial Regional Health (MRH) initially expressed interest in utilizing the Yampa Building in November of 2018. Representatives from MRH presented their plan for the development of a comprehensive treatment program to the Board of Education at the Board's February 21, 2019 meeting.

In response to a Craig Press article, Superintendent Ulrich and CEO Andy Daniels published a joint statement on May 24, 2019 to help dispel rumors.

Questions and requests for more information regarding the plans for a Treatment Facility should be directed to Memorial Regional health.


Phone: 970-824-9411