CM-2022-084 - 4/8/2022py
HO NSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
El- Hanslik. MAI
Melany Adler, MAI
Katie Daniewicz, MAI
Clifford Shaw, ASA
Justin Sims, State Certified
March 29, 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 to three (3) properties at 2309 E. Palm Valley Blvd.,
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:
Three (3) properties located at 2309 E. Palm
Valley Blvd., Round Rock, Texas
summarized below:
Tract A: 18.015 acres (R055778, R055791
& R393328)
Tract B: 14.34 acres (R055778 & R055791)
with a presumed access casement through
R393328
Tract C: 8.936 acres (R393329)
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-631 1 •
Ot4'24V n� r (Fax) 512-477-1793
Purpose of the Appraisal: To estimate the market value of the fee
simple interest in each tract as of the date of
inspection.
Use of the Report: Establishing a basis for possible acquisition
of the properties.
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
Valuation Practice of the Appraisal Institute.
The results of our analysis will be set forth
in one Appraisal Report as defined by
Standards Rule 2-2(a) of USPAP.
Fee: $9,600 ($3,200 per tract),
payable upon
delivery of the report.
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:
$495;hour
Chris Hornsby:
$395/hour
Other MAI Staff Appraisers:
$350/hour
State Certified Appraisers:
$275/hour
Research Director:
$3001hour
Administrative Staff:
$1 15!hour
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
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
City of Round Rock
1PROUND ROCK
TEXA5 Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Hornsby & Company
relating to three (3) tracts of land at 2309 E. Palm Valley Boulevard regarding the
Dumas Tracts.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 4/8/2022
Dept Director: Steve Sheets, City Attorney
Cost: $9,600.00
Indexes: General Fund
Attachments: Proposal for Appraisal 2309 E. Palm Valley.City of Round flock (Revised), tAF -
Appraisal Services - Hornsby - for 2309 E. Palm Valley Blvd - DUMAS (added
another parcel)
Department: City Attorney's Office
Text of Legislative File CM-2022-084
This is a revised proposal to add another parcel. The original proposal included two parcels. This has three.
Cost: $9,600
Source of Funds: General Fund
City of Round Rock page 1 of 1