CM-07-03-033PAUL HORNSBY & COMPANY
REAL PROPERTYAPPRAISERS AND CONSULTANTS
March 1, 2007
Mr. Nyle Maxwell, Mayor
City of Round Rock
221 E. Main Street
Round Rock, TX 78664-5246
Re: Proposal for appraisal services relating to five tracts of land comprising a portion of
the Behrens Ranch subdivision located along the north line of FM 3406 between
Wyoming Springs Drive and Creek Bend Boulevard 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:
CAI -0-03-033
Tract A - Approximately 180.617 acres of land
(per WCAD) serving as a residential subdivision
buffer area (zoned "open space" and primarily
flood plain area) located within the Behrens
Ranch subdivision.
Tract B - Approximately 44.31 acres of land
(per WCAD) serving primarily as a residential
subdivision buffer area (zoned "open space" and
primarily flood plain area) with small area zoned
for single family residential development located
within the Behrens Ranch subdivision.
Tract C - Approximately 7.75 acres of land (per
WCAD) serving as a residential subdivision
buffer area (zoned "open space" and primarily
flood plain area) located within the Behrens
Ranch subdivision.
Tract D - Approximately 3.824 acres of land (per
WCAD) serving as a residential subdivision
buffer area (zoned "open space" and primarily
flood plain area) located within the Behrens
Ranch subdivision.
8303 N. MoPac Expressway • Suite A-150 • Austin, Texas 78759 • 512/477-6311 • Fax 512/477-1793
Mayor Maxwell
March 1, 2007
Page 2
Real Estate to be Appraised:
Purpose of the Appraisal:
Use of the Report:
Appraisal & Reporting
Standards:
Fee:
Tract E - Approximately 0.54 acre of land (per
WCAD) zoned for single family residential
development ("SF -2") located at the northeast
corner of FM 3406 and Wyoming Springs Drive
within the Behrens Ranch subdivision.
To estimate the market value of the fee simple
interest in the subject properties as of the date of
inspection.
Determining value for tax and/or grant purposes.
The appraisals 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
single summary appraisal report as defined by
Standard Rule 2-2(b), of USPAP.
Tract A:
Tract B:
Tract C:
Tract D:
Tract E:
Total
$2,900
$2,900
$2,900
$2,900
$2,900
$14,500
The fee reflects a multi -parcel assignment and is
contingent on all appraisals being undertaken
concurrently. The quoted fee assumes appraisals
of land and site improvements, if any. Should
additional improvements need to be appraised, the
fee would be raised to a mutually agreed amount.
Mr. Maxwell
March 1, 2007
Page 3
Fee (cont.):
Time spent in addition to the initial appraisals,
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-$225/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
Paul Hornsby, MAI, SRA, C
President
Accepted:
03-O9 -07
Date
City of Round Rock
Ji mss F A 1156 , P
City of Round Rock L' ) T.B[f 44JA-G C�,e
CITY MANAGER BLUE SHEET
DATE: March 6, 2007
SUBJECT: City Manager Approval/Approval date March 9, 2007
ITEM: Authorization for the City Manager to enter into an agreement
with Paul Hornsby & Company for appraisal services for Behrens Ranch open
spaces being considered for park use.
Department: Legal
Staff Person: Don Childs
,justification:
Authorization for the City Manager to enter into an
agreement with Paul Hornsby & Company for appraisal
services for Behrens Ranch open spaces being considered
for park use.
Funding:
Cost: $14,500
Source of funds:
Background Information: Per request of City Manager
Updated 3-10-05