CM-2022-264 - 10/28/2022HORNSY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Eli Hanslik, MAI
Melany Adler MAI
Katie Daniewicz. MAI
Clifford Shaw ASA
Justin Sims, State Certified
October 26, 2022
City of Round Rock
c/o Steve Sheets
Sheets & Crossfeld, P.C.
309 East Main Street
Round Rock, Texas 78664
Jake Kane, Analyst
Kimberly Hussey, Analyst
Lindsey Berry, Analyst
Tanner Cole, Analyst
Sarah Taylor, Analyst
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating proposed partial acquisitions out of eight (8)
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 eight (8)
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.
7600 N. Capital of Texas Highway s Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
�� ��V (Fax) 5 12-477-1793
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.
F=ee:
The results of our analysis will be set forth
in eight (8) Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$49,000 ($5,500 - $6,500 each), payable
incrementally upon delivery of each report
(itemized below).
Parcel 15: $6,500
Parcel 16: $5,500
Parcel 17: $6,500
Parcel 18: $6,500
Parcel 19: $5,500
Parcel 20: $6,500
Parcel 21: $6,500
Parcel 22: $5,500
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
$350ihour
State Certified Appraisers
$275ihour
Appraiser Trainees
$2251hour
Research Staff
$1951hour
Completion:
Administrative Staff $1 151hour
Estimated at 60-90 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
P(:�
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
B: y, City Manager
w, I \ A4�.
ROUND ROCK City of Round Rock
TEXAS Agenda Item Summary
Agenda Number:
Title: Consider executing Engagement Agreement with Paul Hornsby & Company for
appraisal services related to the acquisition of 8 partial fee acquisitions of Right
of Way required for the Red Bud South construction project.
Type: City Manager Item
Governing Body: City Manager Approva'
Agenda Date: 10/28/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $49,000.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: LAF RBS Project Appraisal Services - Hornsby (parcels 15-22, Red Bud South
Parcels 15 22
Department: Transportation
Text of Legislative File CM-2022-264
Proposal for second half of project limits.
Cost: $49,000.00
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page 1 of 1