CM-2020-171 - 6/19/2020PAUL HmNSBY & COMPANY
O APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Eli Hanslik, MAI
Chris Hornsby, MAI
Melany Adler, MAI
Katie Daniewicz, MAI
Clifford Shaw, ASA
Matthew Cox, State Certified Appraiser
June 15, 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
Caitlin Warren, Appraiser Trainee
Jake Kane, Appraiser Trainee
Kim Hussey, Appraiser Trainee
Garrett Lynch, Appraiser Trainee
Lindsey Berry, Analyst
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating to a 6.098 acre tract of land at the northwest corner of
Pecan Avenue and N. Georgetown Avenue, Round Rock, Texas
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: A 6.098 acre tract of land at the northwest
corner of Pecan Avenue and N. Georgetown
Avenue, Round Rock, Texas.
Purpose of the Appraisal: To estimate the market value of the fee
simple interest in the subject property as of
the date of inspection.
Use of the Report: Establishing a basis for possible acquisition
of the property.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
(Fax)512-477-1793
64q -2 oW - / -V
Appraisal & Reporting Standards:
Fee:
Completion:
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
Valuation 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.
$5,500, payable upon delivery of the
reports.
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
Research Staff. $170/hour
Administrative Staff: $90/hour
Estimated at 30 — 45 days from your written
authorization to proceed.
If these ten-ris are acceptable, please indicate by executing this agreement and returning one copy
to one. I look forward to working with you on this assignment.
Respectfully Submitted,
Paul Hornsby & Company
//-1 al-tl
Paul Hornsby, MAI, SRA
Accepted:
Db-19-aoao
Date
City of Round Rock
By: City Manager
City of Round Rock
ROUND ROCK
TEXAS Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to 6.098 acres of vacant land located at the NW Corner of
Pecan Ave. and N. Georgetown Ave. for the Heritage Trail East Project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 6/19/2020
Dept Director: Rick Atkins, PARD Director
Cost: $5,500.00
Indexes: 2017 General Obligation Bonds
Attachments: LAF-00448265.PDF, Proposal-00448260.PDF
Department: Parks and Recreation Department
Text of Legislative File CM-2020-171
This item allows Paul Hornsby & Company to compile an appraisal report for the vacant
McConico property located at 700 Pecan Ave. The appraisal information will allow PARD/City
leadership to determine if it is advantageous for the City to purchase the property as parkland
along the future Heritage Trail East section of trail.
Cost: $5,500.00
Source of Funds: 2017 General Obligation Bonds
City of Round Rock Page 1 Printed on 611812020