CM-2020-066 - 3/6/2020PAUL I IO NSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA v
Ell Hanslik, MAI
Chris Homsby, MAI
Melany Adler, MAI
Kalle Daniewlcz, MAI
Clifford Shaw, ASA
Matthew Cox, Stale Certified Appraiser
Leslie Persia, AICP, Director of land Planning
Rey Gonzalez, Professional Engineer, Cost Estimator
February 21, 2020
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Justin Sims, Appraiser Trainee
Jason Thomas, Appraiser Trainee
Caiilin Warren, Appraiser Trainee
Jake Kane, Appraiser Trainee
Kim Hussey, Appraiser Trainee
Garrett Lynch, Appraiser Trainee
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Brittany Bise, Administrative Support
Re: Proposal for appraisal services relating five (5) tracts of vacant land located along Brushy
Creek, south of E. Palm Valley Boulevard
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:
I. A 1.43 acre tract owned
by BSH
Holdings LP (WCAD
Account
#R052492);
2. A 27.8 acre tract owned
by IBSH
Holdings LP (WCAD
Account
#R055959);
3. A 4.56 acre tract owned
by Louis
Henna, Jr. (WCAD Account #11055960);
4. A 5.83 acre tract of land
owned by
Robert Herber (WCAD
Account
#R055964);
7600 N_ Capital of Texas Highway • Building B. Suite 210 • Austin, Texas 78731 •512-477-6311 •
(Fax)512-477-1793
6j411,2-D-Z0- 0�*
5. A 2.0 acre tract of land owned by the
Billie Sue Cross Trust (WCAD Account
#R056006).
Purpose of the Appraisal: To estimate just compensation for a trail
easement.
Use of the Report: Establishing a basis for acquisition of the
easements.
Appraisal & Reporting Standards: 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
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 Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
Fee: $4,500 per property, payable incrementally
upon delivery of the reports. The fees
assume that only land components are to be
appraised.
All time spent subsequent to the initial
appraisal including, without limitation,
updates, meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be billed at the following
hourly rates.
Paul Hornsby: $435/hour
MAI Staff Appraisers: $335/hour
State Certified Appraisers: $225/hour
Land Planning: $235/hour
Research Staff: $170/hour
Administrative Staff: $90/hour
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
Pa"il-I
Paul Hornsby, MAI, SRA
Accepted:
City of Round Rock
By: Lauric Hadley,hity Manages Date
City of Round Rock
ROUNO ROCK
rtru�5 Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to five (5) tracts of vacant land located along Brushy Creek,
south of E. Palm Valley Boulevard for the Heritage Trail East Project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 3/6/2020
Dept Director: Rick Atkins, Director
Cost: $22,500.00
Indexes: 2014 General Obligation Bonds
Attachments: Paul Hornsby Proposal, LAF
Department: Parks and Recreation Department
Text of Legislative File CM-2020-066
This item will allow Paul Hornsby & Company to provide appraisal reports for the necessary
land acquisition associated with Heritage Trail East, located along Brushy Creek, south of E.
Palm Valley Boulevard. There are a total of five (5) properties along this trail corridor that will
need to be acquired, including one property just east of Mays St. and four (4) to the west of
Mays St.
This project includes a 10' wide trail detailing the history of Round Rock as a timeline. The
project spans from Mays St. to Georgetown Ave. Initially, the project will be to complete just
the trail section with minimal interpretation along the trail as funding allows. Ultimate build -out of
the trail will include historical elements, educational elements, arts & cultural elements, general
park elements and elements that encourage community events and development revitalization
along the corridor.
Cost: $22,500.00
Source of Funds: 2014 General Obligation Bonds
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