CM-2021-290 - 10/29/2021im11LE11
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Eli Hanslik, MAI
Melany Adler, MAI
Katie Daniewicz, MAI
Clifford Shaw, ASA
Justin Sims, Analyst
October 26, 2021
HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Jason Thomas, Analyst
Jake Kane, Analyst
Kim Hussey, Analyst
Lindsey Berry, Analyst
Tanner Cole, Analyst
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating to: Tract I a 10.23 acre tract of land located at the
southwest corner of E Old Settlers Boulevard and N Kenney Fort Boulevard and Tract 2 a 9.93
acre tract of land located at 95 Twin Ridge Parkway, Round Rock, Texas.
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:
Tract I : a 10.23 acre tract of land located at
the southwest corner of E Old Settlers
Boulevard and N Kenney Fort Boulevard.
This property will be appraised under the
extraordinary assumption that it can be
rezoned to C 1 a.
Tract 2: a 9.93 acre tract of land located at
95 Twin Ridge Parkway, Round Rock,
Texas.
To estimate the market value of the fee
simple interest in the subject properties as
of the date of inspection.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 ♦ 512-477-6311 •
(Fax)512-477-1793
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Use of the Report:
Appraisal & Reporting Standards:
Fee -
Tract l: Establishing a basis for potential
disposition of the property.
Tract 2: Establishing a basis for potential
acquisition of the property.
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 Practice of the Appraisal
Institute.
The results of our analysis will be set forth
in two (2) Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$9,000 ($4,500 each), payable incrementally
upon delivery of each report. These fees are
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 be revised to a mutually
agreeable amount.
Ali 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
$450/hour
Chris Hornsby
$395/hour
MAI Staff Appraisers
$350/hour
State Certified Appraisers
$250/hour
Appraiser Trainees
$200/hour
Research Staff
$180/hour
Information Necessary to
Complete the Assignment
(as available):
Completion:
Administrative Staff $100/hour
-Survey
-Title commitment
-Any offers to buy or sell the properties
within the last three years
Estimated at 45-60 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 /I
alu�
Paul Hornsby, MAI, SRA
Accepted:
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Date
City of Round Rock,
0aey, Lurie H dlCity ager
ROUND ROCK City of Round Rock
TEXA5 Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby & Company
relating to two tracts of land: Tract 1- a 10.23 acre tract of land located at the
southwest corner of E. Old Settlers Blvd and N. Kenney Fort Bivd and Tract 2 a
9.93 acre tract of land located at 95 Twin Ridge Parkway.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 10/29/2021
Dept Director: Laurie Hadley
Cost: $9,000.00
IndexeS: General Fund
Attachments: Hornsby Agreement
Department: City Manager's Office
Text of Legislative File CM-2021-290
City Manager would like to get a market value estimate of these two properties.
Cost: $9,000
Source of Funds: City Manager Contingency Funds
City of Round Rock Page 1 of 1