CM-2022-273 - 11/11/2022HONSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
Eli Hanslik, MAI
Melany Adler, MAI
Katie Danievricz, MAI
Clifford Shaw, ASA
Justin Sims, State Certified
November 5, 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 a proposed 1.2319 acre fee simple acquisition out
of a 50.681 acre tract of land improved with the Palm Valley Lutheran Church and attendant site
improvements.
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 proposed 1.2319 acre fee simple
acquisition out of a 50.681 acre tract of land
improved with the Palm Valley Lutheran
Church and attendant site improvements.
To estimate the market value of the fee
simple interest in the subject property and
just and adequate compensation for the
proposed acquisition as of the date of
inspection.
7600 N. Capital of Texas Highway # Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
(Fax)512-477-1793
-Zv22 -��3
Use of the Report:
Appraisal & Reporting Standards:
Fee.
Establishing a basis for partial acquisition of
the property.
The appraisal will be developed and the
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.
$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
$395)'hour
MAI Staff Appraisers
$350.1hour
State Certified Appraisers
$250.fhour
Appraiser Trainees
$20Whour
Research Staff
$180/hour
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-zza
Paul Hornsby, MAI, SRA
Accepted:
Date
City of Round Rock
B fey, ity Manager
'ROUND ROCK
TEXAS
City of Round Rock
Agenda Item Summary
Agenda Number:
Title: Consider executing Engagement Agreement with Paul Hornsby & Company for
appraisal services related to a proposed 1.2319 acre fee simple acquisition out of
a 50.581 acre tract of land improved with the Palm Valley Lutheran Church and
attendant site improvements.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 11/11/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $5,500.00
Indexes: RR Transportation and Economic Development Corporation (Type 13)
Attachments: Hornsby LAF 11.7.22, Palm Valley Lutheran -Joe Dimaggio Extension Hornsby
proposal
Department: Transportation
Text of Legislative File CM-2022-273
Cost: $5,500.00
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page 1 of i