CM-2023-100 - 5/12/2023IP I
i 11 HORNSBY &COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby. MAI SFZA
Jake Kane, Analyst
Chris Homsby, MAI, Principal
Kimberly Hussey, Analyst
Eli Hanslik, MAI
Lindsey Berry, Analyst
Melany Adler, MAI
Tanner Cole, Analyst
Katie Daniewicz, MAI
Sarah Taylor, Analyst
Clifford Shaw, ASA
Terri Bowden Nolker, Business Manager
Justin Sims, State Certified
Cynthia Stevens, Administrative Support
May 5, 2023
City of Round Rock
c/o Don Childs
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Re: Proposal for appraisal services relating to proposed partial acquisitions out of ten (10)
properties located along North Mays Street, Round Rock, Texas.
Dear Mr. Childs:
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 ten (10)
properties located along North Mays Street,
Round Rock, Texas.
To estimate just and adequate compensation
for the proposed acquisitions as of 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 • 512-477-6311 •
(Fax)512-477-1793
6Mr2-0ZR-( vv
FCC:
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 10 Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
$55,000 ($5,500 each), 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, MAI, SRA $550/hour
Chris Hornsby, MAI
$450e'hour
MAI Staff Appraisers
$385/hour
State Certified Appraisers
$295/hour
Appraiser Trainees
$250/hour
Research Director
$300;'hour
Research Staff
$195'hour
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
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 the acquisition of up to10 partial fee acquisitions for
Right of Way needed along the North Mays Gaps Extension.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 5/12/2023
Dept Director: Gary Hudder, Transportation Director
Cost: $55,000.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: North Mays Extension --Hornsby proposal
Department: Transportation
Text of Legislative File CM-2023-100
The proposal is for appraisal services for proposed acquisition of Parcels 1 and parcels 3-9 required for
the North Mays Extension project. The proposal authorizes work on up to a maximum of 10 parcels, to be
paid for as completed. However, 2 of those parcels are already owned by the City and should not require
completion of appraisals, so the maximum expenditure authority should not be reached.
Cost: $55,000.00
Source of Funds: Round Rock Transportation and Economic Development Corporation (Type B)
City of Round Rock Page 1 of i