CM-2015-730 - 4/03/2015City of Round Rock
i1)RO4` Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to property located at 500 N Mays St.
Type: City Manager Item
Governing Body:
City Manager Approval
Agenda Date:
4/3/2015
Dept Director:
Steve Sheets
Cost:
$5,000.00
Indexes:
Attachments:
00332088.PDF, 00332084.PDF
Department:
Legal Department
Text of Legislative File CM -2016.730
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to property
locaW at 500 N Mays St.
Staff recommends approval.
City or Ro.nd Rock Page t Pdnw on wwo15
LEGAL DEPARTMENT APPROVAL FOR CITY COUNCIL/CITY MANAGER ACTION
Required for Submission of ALL City Council and City Manager Items
Department Name: Legal Project Name: Appraisal Services
Project Mgr/Resource: Steve Sheels contracterNBndor: Paul Hornsby & Company
Council Action:
ORDINANCE RESOLUTION
QCity Manager Approval
CMA Wording
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to property located at 500 N Mays Sl.
Attorney Approval
'®Attorney �pLg (�.t, Date 3 . JU - 15
0:\wdox\SCClnts\0123\1500\MISC\00332088.XLS Updated 613108
. PAUL HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby. MAI, SRA CRE Joseph McAweeney, State Cedined
DaMd J. Englund, MAI, SRA Katie Daniewtrz, State Certified
Eli Hmxslik, MAI Matthew Cox, Appraiser Trainee
Lance Lawson, MAI Kimberly Garvey, Appraiser Trainee
Chris Homaby, MAI Tem Bowden, Business Manager
Clifford Shaw, State Certified! Jennifer Beardsley, Administrative Assistant
Melany Adler, Slate Certified
March 26, 2015
Laurie Hadley, City Manager
City of Round Rock
c/o Don Childs
Sheets & Crossfield, L.L.P.
309 East Main Street
Round Rock, Texas 78664
Re: Proposal for appraisal services relating a vacant tract of land located at 500 N Mays St,
Round Rock, Texas.
Dear Ms. Hadley:
As requested, I am pleased to provide this proposal for appraisal services relating to the property
captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised: A vacant tract of land located at 500 N
Mays St, Round Rock, Texas.
Purpose of the Appraisal: To estimate the market value of the fee
simple interest in the subject property and
adequate compensation for a partial
acquisition as of the date of inspection.
Use of the Report: Establishing a basis for partial acquisition of
the property.
2100 Kramer Lane • Suite 550 • Austin, Texas 78758 • 512-477-6311 • (Fax) 512-477-1793
CAA-aol5 -'130
Appraisal & Reporting Standards: The appraisal will be developed and the
report will be prepared in conformity with
and subject to the requirements of the
Uniform Standards of Professional
Appraisal Practice (USPAP) of the
Appraisal Foundation and the Code of
Professional Ethics and the Standards of
Professional Appraisal Practice of the
Appraisal Institute.
The results of our analysis will be set forth
in an Appraisal Report as defined by
Standards Rule 2-2(a) of USPAP.
Fee:
$5,000, payable upon delivery of the report.
Time spent after the initial assignment,
including, without limitation, updates,
meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be billed at the following
hourly rates:
Paul Hornsby: $300/hour
MAI Staff Appraisers: $250/hour
State Certified Appraisers: $200/hour
Information Necessary to
-Survey
Complete the Assignment
-Site Plan
(as available):
-Title commitment
-Any offers to buy or sell the property
within the last three years
Completion:
Estimated at 30 days weeks from your
written authorization to proceed.
If these terms are acceptable, please indicate by executing this agreement and returning one copy
to me. I look forward to working with you on this assignment.
Respectfully Submitted,
P
Paaul Hornsby & Company
Paul Hornsby, MAI, SRA, C
Accepted:
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Date
City of Round Rock
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