CM-06-06-127PAUL HORNSBY & COMPANY
REAL PROPERTY APPRAISERS AND CONSULTANTS
May 26, 2006
Mr. Nyle Maxwell, Mayor
City of Round Rock
221 E. Main Street
Round Rock, TX 78664-5246
Re: Proposal for appraisal services relating to the old Round Rock Senior Citizen Center
located at 205 E. Main Street in Round Rock, Williamson County, Texas.
Dear Mayor Maxwell:
At your request, I am pleased to provide this proposal for appraisal services on the above -
captioned property. Terms of the assignment are summarized below.
Real Estate to be Appraised: The old Round Rock Senior Citizen Center
located at 205 E. Main Street in Round Rock,
Williamson County, Texas
Purpose of the Appraisal: To estimate the market value of the fee simple
interest in the subject property as of the date of
inspection.
Use of the Report: To establish a basis of value for the property for
potential reimbursement of a community
development block grant.
Appraisal & Reporting
Standards:
X1-06-06.427
8303 N. MoPac Expressway. Suite A-150 • Austin, Texas 78759 • 512/477-6311 • Fax 512/477-1793
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 Standards ofProfessional
Appraisal Practice of the Appraisal Institute.
The results of our analysis will be set forth in
summary appraisal report as defined by Standard
Rule 2-2(b), of USPAP.
Mr. Maxwell
May 26, 2006
Page 2
Fee:
Appraisal Fee: $7,250
Less Discount: ($3,625)
Total $3,625
Time spent in addition to the initial appraisal,
including, without limitation, updates, meetings,
depositions, mediation, arbitrations, hearings, trial
and preparation for testimony, will be paid
monthly, as incurred, at the following hourly
rates:
Paul Hornsby: $250/hour
Staff Appraisers: $125-$200/hour
Completion: As soon as possible, but not later than 45 days
from authorization.
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
Accepted:
Date
City of Round Rock
ernes USeP. E
le Maxwell trek.rvt9e y'
yor, City of Round Rock
CITY MANAGER BLUE SHEET
DATE: May 30, 2006
SUBJECT: City Manager Approval - June 2, 2006
ITEM: Authorization for City Manager to enter into agreement for
appraisal services with Paul Hornsby and Company for the Round Rock
Senior Citizen Center located at 205 E. Main Street.
Department: Legal
Staff Person: Steve Sheets
Justification: The appraisal is needed to comply with Federal HUD
regulations regarding the use of the CDBG Funds in the
repair of this building.
Funding:
Cost: $3,625.00
Source of funds: 2002 GO Bonds
Background Information:
Updated 3-10-05