CM-2023-211 - 9/15/2023n HURNSPY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
Eli Hanslik, MAI
Katie Daniewicz, MAI
Justin Sims State Certified
Jake Kane. State Certified
September 5, 2023
City of Round Rock
c/o Don Childs
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Tanner Cole, Analyst
Lindsey Berry, Analyst
Scott Nevil, Analyst
Leann Juengerman, Analyst
Roel Jaramillo, Researcher
Terri Bowden Nolker, Business Manager
Beth Boyd & Stefanie Alvarez, Administrative Support
Re: Proposal for appraisal services relating a 3.135 acre tract of land located at 655 E Palm
Valley Boulevard and legally described as Lot 10, Block A, Amended Plat of Heritage Center,
City of Round Rock, Williamson County, Texas.
Dear Mr. Childs,
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:
A 3.135 acre tract of land located at 655 E
Palm Valley Boulevard and legally
described as Lot 10, Block A, Amended Plat
of Heritage Center, City of Round Rock,
Williamson County, Texas.
To estimate the market value of the fee
simple interest in the subject property as of
the date of inspection.
Establishing a basis for acquisition of the
property.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 s 512477-6311 •
(Fax)512-477-1793
Appraisal & Reporting Standards: 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.
Fec: $6,000, payable upon delivery of the report.
This fee is predicated on the assumption that
the site improvements are contributory and
will be appraised.
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
$450/hour
MAI Staff Appraisers
$3851hour
State Certified Appraisers
$295/hour
Appraiser Trainees
$250.'hour
Research Director
$300ihour
Research Staff
$195!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
/-101-(1
Paul Hornsby, MAI, SRA
Accepted:
9- "?a33
Date
City of Round Rock
^2S,
y: ity Manager
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City of Round Rock
JRUND ROCK
XAS Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby & Company
relating to 3.135 acres owned by Faith Culture Church located at 655 E. Palm
Valley Blvd.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 9/15/2023
Dept Director: Rick Atkins, PARD Director
Cost: $6,000.00
Indexes: 2017 General Obligation Bonds
Attachments: LAF- Hornsby Appraisal Services -- Faith Culture Church 3.135 ac Lot 10 Blk A,
FAITH --Hornsby appraisal proposal for Lot 10 Block A Amended Heritage Center
(9.5.23), FAITH--2023 WCAD map + info for R605377 (Lot 10 Heritage Center
Replat)
Department: Parks & Recreation
Text of Legislative File CM-2023-211
The proposal is for appraisal services requested by Park Development Manager Katie Baker to be used in
evaluation of a potential purchase of an additional 3.135 acres owned by Faith Culture Church and former
Arbor Events Center. The City purchased 3.469 acres from Faith in 2020 as part of the proposed Heritage
Tail East project development.
Cost: $6,000.00
Source of Funds: 2017 General Obligation Bonds
City of Round Rock Page 1 of 1