CM-2018-1796 - 7/27/2018IN PAUL HOI NSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Eli Hanslik, MAI
Chris Hornsby, MAI
Melany Adler, MAI
Katie Daniewiez, MAl
Clifford Shaw, ASA
Matthew Cox, State Certified Appraiser
July 12, 2018
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Kimberly Garvey, Appraiser Trainee
Justin Sims, Appraiser Trainee
Jason Thomas, Appraiser Trainee
Caitlin Warren, Appraiser Trainee
Jake Kane, Analyst
Terri Bowden, Business Manager
Hansl Holzhammer, Administrative Support
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating a 7.49 acre tract of land located at 19 Roundville
Lane, Round Rock, TX 78664.
Dear Mr. Sheets:
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:
Purpose of the Appraisal:
Use of the Report:
A 7.49 acre tract of land located at 19
Roundville Lane, Round Rock, TX 78664.
To estimate the market value of the fee
simple interest in the subject property and
the easement estate in the proposed
acquisition as of the date of inspection.
Establishing a basis for partial acquisition of
the property.
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
7600 N. Capital of Texas Highway • Building B, Suite 210 a Austin, Texas 78731 • 512477-6311 •
(Fax) 512477-1793
0"r, 20 t d -(-7 Cl Cv
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= $4,500, payable upon delivery of the report.
This fee is predicated on the assumption that
only the land component of the 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: $415/hour
MAI Staff Appraisers: $310/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 property
within the last three years
Completion: Estimated at 45 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
1
-7 z7 r
Date By: Laurie Ifadley, City Ma er
City of Round Rock
' ROUND ROCK
Agenda Item Summary
Agenda Number:
Title: Consider executing a Proposal for appraisal services with Paul Hornsby &
Company related to partial acquisition of a 0.505 acre right of way easement
related to the road improvement project along Roundville Lane.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 7/27/2018
Dept Director: Gary D. Hudder, Transportation Director
Cost: $4,500.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: Exhibits -Alpha Metes & Bounds, Exhibits-Roundville Lane 100% Plan
Set -Alpha Easement, Appraisal Proposal Alpha Westinghouse Roundville
Ln
Department: Transportation Department
Text of Legislative File CM -2018-1796
Consider executing a Proposal for appraisal services with Paul Hornsby & Company
related to partial acquisition of a 0.505 acre right of way easement related to the road
improvement project along Roundville Lane.
The Roundville Lane Project involves the reconstruction of Roundville Lane from A.W.
Grimes Blvd. (CR 170) to the eastbound frontage road of SH 45 for approximately 2,700
feet. The roadway alignment follows existing Roundville Lane and terminates at the SH 45
frontage road. This project is being constructed as a 3 -lane, urban, concrete roadway.
Unfortunately, the project is confined to a 50' ROW and the final alignment of the road
requires a 0.505ac easement, in order to meet design standards for storm water and
sidewalks.
The Roundville Lane project currently has a Possession and Use agreement in place with
Alpha paving for the aforementioned 0.505ac easement. The City of Round Rock is
currently in negotiations with Alpha Paving to acquire a permanent sidewalk and drainage
easement. Alpha Paving is requesting substantially more than what the City had initially
offered; hence the request to engage the appraisal services of Paul Hornsby &
Company(PH & Co.). The purpose of the appraisal is to determine the fair market value of
City of Round Rock Page t Pdnted on 7/25/2018
Agenda Nem SUMM8fY Continued CM --2018-1798
the subject easement.
The Transportation Department recommends that the City of Round Rock approve a check
in the amount of $4,500.00 in exchange for executing an Appraisal Report for the 0.505ac
portion of the Alpha Paving site to be used as sidewalk & drainage easement.
Cost: $4,500.00
Source of Funds: RR Transportation and Economic Development Corporation
CNy of Round Rock Page 2 Printed on 7/25/2018