CM-2024-077 - 3/8/2024HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
Chris Hornsby, MAI, Principal
Kimberly Hussey, Analyst, Principal
Eli Hanslik, MAI
Katie DanieWcz, MAI
Justin Sims, State Certified
Jake Kane, Stale Certified
February 28, 2024
City of Round Rock,
c/o Don Childs
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Tanner Cale, Analyst
Lindsey Berry, Analyst
Scott Nevil, Analyst
Layna Fultz, Analyst
Roel Jaramillo, Researcher
Terri Bowden Nolker, Business Manager
Beth Boyd & Stefanie Alvarez, Administrative Support
Re: Proposal for appraisal services relating a proposed 9,364 SF fee acquisition out of an 8.37
acre tract of land improved with a warehouse located at 508 McNeil Drive, Round Rock, Texas
78681.
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 proposed 9,364 SF fee acquisition out of
an 8.37 acre tract of land improved with a
warehouse located at 508 McNeil Drive,
Round Rock, Texas 78681.
To estimate the market value of the fee
simple interest in the land component of the
whole property and the just and adequate
compensation for the proposed acquisition
as of the date of inspection.
Establishing a basis for partial acquisition of
the property.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
(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.
I-ee- $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, MAI, SRA $5851hour
Chris Hornsby, MAI
$4951hour
MAI Staff Appraisers
$4251hour
State Certified Appraisers
$3501hour
Appraiser Trainees
$2501hour
Research Director
$300/hour
Research Staff
$195 (hour
Administrative Staff
$125:`hour
Completion: Estimated at 45 days from your written
authorization to proceed.
If these terms are acceptable, please indicate by executing this agreement and returning one copy
to me. l look forward to working with you on this assignment.
Respectfully Submitted,
Paul Hornsby & Company
11-la-lui
Paul Hornsby, MAI, SRA
Accepted:
2- N -ato)�
Date
City of Round Rock
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By: Laurie Hadley, City Mana r