CM-2022-164 - 7/15/2022Paul Hornsby, MAI, SRA
Chris Homsby, MAI, Principal
Eli Hanslik, MAI
Me:any Adler, MAI
Katie Dan+ewicz. MAI
Clifford Shaw, ASA
Justin Sims, State Certified
June 28, 2022
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
O1N SBY & COMPANY
APPRAISERS AND CONSULTANTS
Jake Kane, Analyst
Kimberly Hussey, Analyst
Lindsey Berry, Analyst
Tanner Cole, Analyst
Sarah Taylor, Analyst
Terri Bowden (Volker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating to proposed partial acquisitions out of two properties:
(Tract 1) a 1.003 acre tract of land improved with a Chase Bank building located at 4600 Hwy
79, Round Rock, Texas 78665, and (Tract 2) a 0.992 acre tract of land improved with an Exxon
gas station and convenience store located at 4450 E Old Settlers Boulevard, Round Rock, Texas
78664.
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:
Proposed partial acquisitions out of two
properties: (Tract 1) a 1.003 acre tract of
land improved with a Chase Bank building
located at 4600 Hwy 79, Round Rock,
Texas 78665, and (Tract 2) a 0.992 acre
tract of land improved with an Exxon gas
station and convenience store located at
4450 E Old Settlers Boulevard, Round
Rock, Texas 78664.
7600 N, Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
�y / (Fax)512-477-1793
Purpose of the Appraisals:
Use of the Reports:
Appraisal & Reporting Standards:
To estimate the just and adequate
compensation for (1) the proposed
subsurface storm sewer drainage easement
acquisition for Tract 1 and (2) the proposed
partial fee acquisition for Tract 2 as of the
date of inspection.
Establishing a basis for two partial
acquisitions of the properties.
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, $12,000 total
Tract I: $5,500
Tract 2: $6,500
The fee is 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(s).
Should 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 $495ihour
Information Necessary to
Complete the Assignment
(as available):
Completion:
Chris Hornsby
$395/hour
MAI Staff Appraisers
$350/hour
State Certified Appraisers
$275/hour
Appraiser Trainees
$225/hour
Research Staff
$195/hour
Administrative Staff
$115/hour
-Survey
-Site Plan
-Title commitment
-Any offers to buy or sell the property
within the last three years
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
P a"aw-1
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
Xa"�.�"
By: Laurie Hadley, City anager
ROUND RACK City of Round Rock
TEXAS Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby & Company
relating to r.o.w. acquisitions for the Red Bud North project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 7/15/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $12,000,00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: LAF -Red Bud North Project- Appraisal Services - Hornsby (Parcels 1-3), Red Bud
North- Hornsby Proposal Parcels 1-2 (Exxon and Chase Bank)
Department: Transportation
Text of Legislative File CM-2022-164
The proposals are for appraisal services for proposed acquisition of Parcels 1-2 (Exxon and Chase Bank)
required for the Red Bud North improvement project.
Cost: $12,000
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page 1 of 1