CM-2018-1785 - 7/23/2018PAUL HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA Matthew Cox, State Certified Appraiser
Eli Hanslik, MAI Kimberly Garvey, Appraiser Trainee
Chris Hornsby, MAI Justin Sims, Appraiser Trainee
Melany Adler. MAI Jason Thomas, Appraiser Trainee
Katie Daniewlez, MAI Caitlin Warren, Appraiser Trainee
Clifford Shaw. ASA Terri Bowden, Business Manager
Hansa Holzhammer, Administrative Support
May 23, 2018
City of Round Rock
e o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Re: Proposal for appraisal services relating to partial acquisitions for five properties on the Lake
Creek Trail project.
Dear Mr. Sheets:
As requested, I am pleased to provide this proposal for appraisal services relating to the
properties captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised:
Purpose of the Appraisal:
Use of the Report:
Appraisal & Reporting Standards:
Partial acquisitions for five properties on the
Lake Creek Trail project.
To estimate the market value of the fee
simple interest in the subject property as of
the date of inspection.
Establishing a basis for partial acquisition of
the properties.
The appraisals will be developed and the
reports will be prepared in conformity with
and subject to the requirements of the
Uniform Standards of Professional
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512477-6311 •
(Fax) 512477-1793
01M.2,01S*-17605
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 five Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
Fee: $22,500 ($4,500 each), payable
incrementally upon delivery of each report.
These fees arc predicated on the assumption
that only the land component of each
property will be appraised and the primary
improvements are not impacted by the
proposed acquisition. Should improvements
need to be appraised, the fee will revised to
a mutually agreeable amount.
All time spent subsequent to the initial
appraisals, including, without limitation,
updates, meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be billed at the following
hourly rates.
Paul Hornsby: $4I5/hour
MAI Staff Appraisers: $3I0/hour
State Certified Appraisers: $205/hour
Land Planning: $210/hour
Research Staff: $160/hour
Administrative Staff: $80/hour
Information Necessary to -Survey
Complete the Assignment -Title commitment
(as available): -Any offers to buy or sell the properties
within the last three years
Completion: Estimated at 60-90 days 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,
Paul Hornsby & Company
Paul Hornsby, MAI, SRA
Accepted: City of Round Rock,
--4,
Date
Bey, Coy cr ^ -�,
City of Round Rock
F'
ROUND ROCKAgenda Item Summary
Agenda Number:
Title: Consider executing a Proposal for appraisal services with Paul Hornsby &
Company related to partial acquisitions of real property (trail easements) for
five properties on the Lake Creek Trail Project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 7/20/2018
Dept Director: Rick Atkins, Director
Cost: $22,500.00
Indexes: 2014 General Obligation Bonds
Attachments: LAF Lake Creek Trails - Appraisal Proposal (07.11.2018)
(00405047xA08F8),pdf, Appraisal Proposal - Lake Creek Trails
(07.11.2018) (00405048xA08F8).pdf, Lake Creek Trail Plan.pdf, Land
Acquisition Exhibit.pdf
Department: Parks and Recreation Department
Text of Legislative File CM -2018-1785
Consider executing a Proposal for appraisal services with Paul Hornsby & Company
related to partial acquisitions of real property (trail easements) for five properties on the
Lake Creek Trail Project.
This item authorizes Paul Hornsby & Company to conduct appraisals for trail easements
on the five properties along the proposed Lake Creek Trail.
The Lake Creek Trail project includes a 10' wide trail spanning from Round Rock West
Drive to Centennial Plaza. It will include pedestrian underpasses under the Railroad,
I1-1-35, and a bridge spanning Lake Creek near Centennial Plaza. It will also include site
amenities and general park elements along the trail.
Cost. $22,500.00
Source of Funds: 2014 General Obligation Bonds
City of Round Rock Page 1 Printed on 7/18/2018
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