CM-2022-275 - 11/11/2022HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SPA
Chris Hornsby, MAI. Prine-pal
Eli Hanslik, MAI
Melany Adler. MAr
Katie Daniewiez. MAI
Clifford Shaw ASA
Justin Sims, State Certified
August 7, 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 Cole, Analyst
Sarah Taylor, Analyst
Terri Bowden Nolker, Business Manager
Cynthia Stevens, Administrative Support
Re: Proposal for appraisal services relating to proposed partial acquisitions out of three (3)
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:
Appraisal & Reporting Standards:
Proposed partial acquisitions out of three (3)
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.
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 •512-477-631 1 •
(Fax) 512-477-1793
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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 three (3) Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$16,500 ($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
$3951hour
MAI Staff Appraisers
$3501hour
State Certified Appraisers
$275/hour
Appraiser Trainees
$225lhour
Research Staff
$1951hour
Administrative Staff
$1 15)hour
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
Paul Hornsby, MAI, SRA
Accepted:
I- /�
Date
City of Round Rock
By , CiManager
City of Round Rock
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 3 partial fee acquisitions for Right
of Way needed along the Red Bud South.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 11/11/2022
Dept Director: Gary Hudder, Transportation Director
Cost: $16,500.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: Red Bud South Parcels 11-13, Copy of IAF RBS Project Appraisal Services -
Hornsby
Department: Transportation
Text of Legislative File CM-2022-275
Cost: $16,500.00
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page I of I