CM-2022-083 - 4/8/2022�I
HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
El. Hansiik, MAI
Melany Adler, MAI
Katie Denlewiez, MAI
Clifford Shaw, ASA
Justin Sims, Slate Certified
March 26, 2022
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Jake Kane, Analyst
Lindsey Berry, Analyst
Tanner Cole, Analyst
Sarah Taylor, Analyst
Justin Allen, Analyst
Kelly Wells, Research Director
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating a 9.959 acre tract of land improved with a Holiday
Inn limited service hotel located at 2370 Chisholm Trail, Round Rock, Texas 78681.
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 9.959 acre tract of land improved with a
Holiday Inn limited set -vice hotel located at
2370 Chisholm Trail, Round Rock, Texas
78681.
To estimate just and adequate compensation
for 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
7600 N. Capital of Texas Highway + Building B, Suite 210 + Austin, Texas 78731 + 512-477-6311 +
(Fax) 512-477-1793
eo�Z622-033
Fee.
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 an Appraisal Report as defined by
Standards Rule 2-2(a) of USPAP.
$5,500, payable upon delivery of the report.
This fee is predicated on the assumption that
only the land component of the property and
site improvements will be appraised and the
primary improvements are not impacted by
the proposed acquisition. Should primary
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, MAI, SRA $495/hour
Chris Hornsby, MAI
$3951hour
MAI Staff Appraisers
$350/hour
State Certified Appraisers
$275/hour
Appraiser Trainees
$225/hour
Research Director
$300/hour
Research Staff
$195/hour
Administrative Staff
$115/hour
Information Necessary to
Complete the Assignment
(as available):
Completion:
-Survey
-Site Plan
-Title commitment
-Any offers to buy or sell the property
within the last three years
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
pct�
Paul Hornsby, MAI, SRA
Accepted:
q-
Date
City of Round Rock
By: City Manager
JR60UNDROCK
XAS
City of Round Rock
Agenda Item Summary
Agenda Number:
Title: Consider executing Engagement Agreement with Paul Hornsby & Company for
appraisal services related to the acquisition of a 9.959 acre tract of land at 2370
Chisholm Trail, Round Rock, TX 78681.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 4/8/2022
Dept Director: Steve Sheets, City Attorney
Cost: $5,500.00
Indexes: General Fund
Attachments: Appraisal Services with Paul Hornsby & Company - 2370 Chisholm Trail -
172, LAF - Hornsby - 2370 Chisholm Trail - 20220330090501844
Department: City Attorney's Office
Text of Legislative File CM-2022-083
Acquisition of land.
Cost: $5,500
Source of Funds: General Fund
City of Round Rock Page 1 of I