CM-06-07-158PAUL HORNSBY & COMPANY
REAL PROPERTY APPRAISERS AND CONSULTANTS
July 21, 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 an easement acquisition relating to the
proposed realignment and widening of Kiphen Road 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 project. Terms of the assignment are summarized below.
Real Estate to be Appraised:
Purpose of the Appraisal:
Use of the Report:
Appraisal & Reporting
Standards:
Parcel 12E - (Lucy Guerrero): Approximately
5.436 acres of land improved with three
commercial buildings located at the northwest
corner of Kiphen Road and Rockin J Road.
To estimate just compensation for the proposed
easement acquisition.
To establish a basis for negotiations involving the
easement acquisition for the proposed realignment
and widening of Kiphen Road.
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 of Professional
Appraisal Practice of the Appraisal Institute.
The results of our analysis will be set forth in
a summary appraisal report as defined by
Standard Rule 2-2(b), of USPAP.
8303 N. MoPac Expressway. Suite A-150 • Austin, Texas 78759 • 512/477-6311 • Fax 512/477-1793
Ctr-0(.9 — cn— IGW
Mayor Maxwell
July 21, 2006
Page 2
Fee: $3,500, payable upon completion of the report.
The quoted fee assumes an appraisal of land and
site improvements. Should additional
improvements need to be appraised, the fee would
be raised to a mutually agreed amount.
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
Jason Lee
Accepted:
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City of Round Rock
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CITY MANAGER BLUE SHEET
DATE: July 21, 2006
SUBJECT: City Manager Approval - July 28, 2006
ITEM: Authorization for the City Manager to enter into an
agreement with Paul Hornsby & Company for appraisal
services for Kiphen Road Project -Lucy Guerrero Parcel
12E.
Department: Legal
Staff Person: Don Childs
Justification: Improvements being made to Kiphen Road.
Funding:
Cost: $3,500.00
Source of funds: TX02CR113
Updated 3-10-05