CM-2022-107 - 4/29/2022[I n HORNSBY & COMPANY
lJ L APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby. MAR, Principal
Kimberly Hussey, Analyst. Principal
Eli Hansl-k, MAI
Melany Adler, MAI
Katie Daniewicz, MAI
Clifford Shaw. ASA
Justin Sims, State Certified
April 22, 2022
City of Round Rock
c'o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Jake Kane, Analyst
t indsey 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 a 1.240 acre (Lot 4) tract of land improved with an
HEB fuel and convenience store and a 7.650 acre (Lot 2) tract of land improved with an HEB
grocery store located at the northwest corner of Gattis School Road and Red Bud Lane, 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:
Purpose of the Appraisal:
A 1.240 acre (Lot 4) tract of land improved
with an HEB fuel and convenience store and
a 7.650 acre (Lot 2) tract of land improved
with an HEB grocery store located at the
northwest corner of Gattis School Road and
Red Bud Lane, Round Rock, Texas.
To estimate just and adequate compensation
for the proposed acquisitions as of the date
of inspection.
Use of the Report: Establishing a basis for two partial
7600 N, Capital of Texas Highways Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 +•
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acquisitions of the property.
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 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.
Fee: $11,000 ($5,500 each), payable upon
delivery of each report. This fee is
predicated on the assumption that only the
land component and site improvements of
the properties will be appraised and the
primary improvements are not impacted by
the proposed acquisition(s). 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
$4951hour
Chris Hornsby
$3951hour
MAI Staff Appraisers
$3501hour
State Certified Appraisers
$2501hour
Appraiser Trainees
$200/hour
Research Staff
$1801hour
Administrative Staff
$100±hour
Completion: Estimated at 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
pa"aw--]
Paul Hornsby, MAI, SRA
Accepted:
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2� Z�
Date
City of Round Rock
City QaAger,
JROUMD ROCK
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 0.103 AC and 0.104 AC tracts of
land located at the NW corner of Gattis School Road and Red Bud Lane in Round
Rock, TX.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 4/29/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $11,000.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: HEB (1_3)--Hornsby proposal LAF 4.25,22, HEB Red Bud (2 Parcels) -Hornsby
proposal(4.22.22)
Department: Transportation
Text of Legislative File CM-2022-107
Appraisal services for proposed right of way acquisitions from HEB and HEB Gas required for Red Bud
North roadway expansion project.
Cost: $11,000.00
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page 1 of 1