CM-2022-165 - 7/15/2022HORNSBY &COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Jake Kane. Analyst
Chris Hornsby, MAI, Principal
Kimberly Hussey Analyst
Eli Hanslik, MAI
Lindsey Berry. Analyst
Melany Adler. MAI
Tanner Cale Analyst
Katie Daniewicz, MAI
Sarah Taylor. Analyst
Clifford Shaw ASA
Terri Bowden Nolker, Business Manager
Justin Sims, State Certified
Cynthia Stevens, Administrative Support
July 7, 2022:
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Re: Proposal for appraisal services relating to proposed partial acquisitions out of seven (7)
properties located along Red Bud Lane, 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:
Use of the Report:
Proposed partial acquisitions out of seven
(7) properties located along Red Bud Lane,
Round Rock, Texas.
To estimate just and adequate compensation
for the proposed acquisitions the date of
inspection.
Establishing a basis for partial 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
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • S 12-477-6311 •
'Fax,112-477-1793
Fee:
Completion:
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 seven (7) Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$38,500 ($5,500 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(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
$495/hour
Chris Hornsby
$395/hour
MAI Staff Appraisers
$3501hour
State Certified Appraisers
$275/hour
Appraiser Trainees
$225:`hour
Research Staff
$195/hour
Administrative Staff
$1 15/hour
Estimated at 90 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
By: Laurie Hadley, City Manager
HNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, At, SRA
Chris Hornsby. MAI Principal
Eli HansIX MAI
Melany Adler. MAI
Katie Daniewicz, MAI
Glifford 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
Jake Kane, Analyst
Kimberly Hussey, Analyst
Lindsey Berry, Analyst
Tanner Cale, Analyst
Sarah Taylor, Analyst
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating a proposed partial acquisition out of a 0.958 tract of
land improved with a Zaxby's Restaurant located at 2700 Red Bud Lane, Round Rock, Texas
78665.
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:
Appraisal & Reporting Standards:
A proposed partial acquisition out of a 0.958
tract of land improved with a Zaxby's
Restaurant located at 2700 Red Bud Lane,
Round Rock, Texas 78665.
To estimate the just and adequate
compensation for the proposed partial fee
acquisition as of the date of inspection.
Establishing a basis for partial acquisition of
the property.
The appraisal will be developed and the
7600 N. Capital of Texas Highway* Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 a
(Fax)512-477-1793
report 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 an Appraisal Report as defined by
Standards Rule 2-2(a) of USPAP.
ec; 5,500, payable upon delivery of the report.
This fee is predicated on the assumption that
only the land component of the 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 $495/hour
Chris Hornsby
$3951hour
MAI Staff Appraisers
$3501hour
State Certified Appraisers
$2751hour
Appraiser Trainees
$225/hour
Research Staff
$195.`hour
Administrative Staff
$1151hour
Information Necessary to -Survey
Complete the Assignment -Title commitment
(as available): -Any offers to buy or sell the property
within the last three years
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
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
By: Laurie Hadley, City Wnager
ROUND ROCK City of Round Rock
r
TExA5 Agenda Item Summary
Agenda Number:
Title: Consider executing -two proposals fbr appraisal services by Paul Hornsby &
Company relating to r.o.w. acquisitions for the Red Bud South project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 7/15/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $44,000.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: Hornsby Proposal for Red Bud South Parcels 4-10, LAF -Red Bud South Project -
Appraisal Services - Hornsby (Parcels 2, 4-10), Red Bud South (Parcel 3DC) -
Horsnby Proposal for Zaxby's
Department: Transportation
Text of Legislative File CM-2022-165
The proposals are for appraisal services for proposed acquisition of Parcel 2 (ZaFoy's) an4ft".l
required for the Red Bud South improvement project.
Cost: $44,000.00
Source of Funds: Round Rock Transportation and Development Corporation (Type B)
City of Round Rock Page I of I