CM-2018-1817 - 8/17/2018Paul Hornsby, MAI, SRA
Eli Hanslik, MAI
Chris Hornsby, MAI
Melany Adler, MAI
Katie Danlewicz, MAI
Clifford Shaw, ASA
August 8, 2018
PAUL I ORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
City of Round Rock
c,'o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Matthew Cox, Slate Certified Appraiser
Kimberly Garrey. Appraiser Trainee
Justin Sims, Appraiser Trainee
Jason Thomas. Appraiser Trainee
CaiteinWarren Appraiser Trainee
Terri Bowden. Business Manager
Hansi Holzhammer, Administrative Support
Re: Proposal for appraisal services relating to Parcels I and 7, two tracts of land located in
Round Rock, Texas along the proposed Kenney Fort Boulevard alignment.
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:
Appraisal services relating to Parcels 1 and
7, two tracts of land located in Round Rock,
Texas along the proposed Kenney Fort
Boulevard alignment.
To estimate compensation for partial
acquisition of the subject properties 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
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 ■
(Fax)512-477-1793
Fee:
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 two Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$5,500 ($4,250 each), payable upon delivery
of the report. This Fee is predicated on the
assumption that only the land component of
the properties will be appraised and the
primary improvements are not impacted by
the proposed acquisitions. Should
improvements need to be appraised, the fee
will be 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):
Completion: Estimated at 30 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
P A)
Paul Flornsby, MAI, SPLA
Accepted:
City of Round Rock
S- I - 1<6 &A-\.
Date By: ley, City Manager
�'� L0110Jcwi4-1
- City of Round Rock
ROUNDROCK
-xA Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to Kenney Fort Segments 2 & 3 project (Proposal #3).
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 8/17/2018
Dept Director: Steve Sheets
Cost: $8,500.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 00407404.PDF, 00407157.PDF
Department: Legal Department
Text of Legislative File CM -2018-1817
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating
to Kenney Fort Segments 2 & 3 project (Proposal #3).
There are a total of 20 parcels required for construction of this proposed roadway project.
At the current time 14 of those parcels are expected to need appraisals to assist with
purchase offers and acquisition. An initial proposal for 6 priority parcels was approved on
5110118, and second proposal was for an additional 6 parcels was approved on 611118.
This third Proposal is for the remainin-q two appraisals which have been identified
to date.
Cost: $8,500.00
Source of Funds: RR Transportation and Economic Development Corporation
CJtyolRoundRoek Page 1 Printed on W6/2018