CM-06-09-18709/26/2006 01:38 FAX
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PAUL HORNSBY & COMPANY
REAL PROPERTY APPRAISERS AND CONSULTANTS
September 25, 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 acquisition of right-of-way for the
widening of U.S. Highway 79 in Round Rock, Williamson County, Texas.
1
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:
Whole Property (Highland Management, Inc.):
Approximately 21.852 acres of land located along
the north line of U.S. Highway 79, just east of
FM1460.
Taking (Fee): An irregular shaped area of land
containing 1.0794 acre (47,019 SF), located along
the southern border of the whole property.
Taking (Easement): An irregular shaped
(trapezoid) area of land containing 0.1148 acre
(5,002 SF), located near the far southeast corner
of the remainder.
Remainder: Approximately 20.773 acres of land
located along the north line of U.S. Highway 79,
east of FM 1460, encumbered by the 0.1148 acre
drainage easement.
Purpose of the Appraisal: To estimate just compensation for the proposed
acquisition.
8303 N. MoPac Expressway • Suite A-150 • Austin, Texas 78759 • 512/477-6311 • Fax 512/477-1793
09/26/2006 01:36 FAX
Mayor Maxwell
September 25, 2006
Page 2
Use of the Report:
Appraisal & Reporting
Standards:
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To establish a basis for negotiations involving the
acquisition of right-of-way for the widening of
U.S. Highway 79.
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
a summary appraisal report as defined by
Standard Rule 2-2(b), of USPAP.
Fee: $4,000, 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: $300/hour
Staff Appraisers: $125-$200/hour
Completion: As soon as possible, but not later than 45 days
from authorization.
09/26/2006 01:36 FAX
Mayor Maxwell
September 25, 2006
Page 3
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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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Date
City of Round Rock
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, City�iof Round�Rock
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CITY MANAGER BLUE SHEET
DATE: September 25, 2006
SUBJECT: City Manager Approval - September 29, 2006
ITEM: City Manager to enter into an engagement letter for professional
services with Paul Hornsby and Company for the widening of
Hwy 79.
Department: Legal
Staff Person: Steve Sheets
Justification: This Appraisal update is needed to assist with the
acquisition of right of way for the widening of U.S.
Highway 79 (Highland Management, Inc.).
Funding:
Cost: $4,000.00
Source of funds: 4B Round Rock Transportation System Funds
Background Information:
O: \wdox\CORR\transprt\Hwy79\h ighland\otherdoc\00104746. DOC
Updated 3-10-05