CM-07-05-078PAUL HORNSBY & COMPANY
April 30, 2007
Mr. Jim Nuse, Manager
City of Round Rock
221 E. Main Street
REAL PROPERTY APPRAISERS AND CONSULTANTS
RETURN roLeak.
Round Rock, TX 78664-5246
Re: Proposal for appraisal services relating to a 75.59 acre tract of land located along the
south line of Kiphen Road, east of Brenda Lane, and an 18.414 acre tract of land
located along the east line of IH -35, south of Chandler Road, in Williamson County,
Texas.
Dear Mr. Nuse:
At your request, I am pleased to provide this proposal for appraisal services on the above -
captioned properties. Terms of the assignment are summarized below.
Real Estate to be Appraised:
Purpose of the Appraisal:
Use of the Report:
0)11--0 1- 05-0.l8
1) A 75.59 acre tract of land (also known as
Parcel 6/6E) located along the south line of
Kiphen Road, east of Brenda Lane in Williamson
County, Texas
2) An 18.414 acre tract of land (also known as the
McNeil Community Park) located along the east
line of IH -35, south of Chandler Road, in
Williamson County, Texas.
To estimate the market value of the fee simple
interest in the subject properties as of the date of
inspection.
To assist the client, Williamson County, in
establishing a basis of value for exchange of the
two properties.
8303 N. MoPac Expressway. Suite A-150 • Austin, Texas 78759 .512/477-6311. Fax 512/477-1793
Mayor Maxwell
April 30, 2007
Page 2
Appraisal & Reporting
Standards:
Fee:
Completion:
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.
Property 1 (Parcel 6/6E): $2,400
Property 2 (McNeil Community Park): $2,400
Total $4,800
The fee reflects a two -parcel assignment and is
contingent on both appraisals being undertaken
concurrently.
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
As soon as possible, but not later than 45 days
from authorization.
Mr. Maxwell
April 30, 2007
Page 3
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:
5/4/acni
Date
City of Round Rock
use
Manager, City of Round Rock
CITY MANAGER BLUE SHEET
DATE: 4/30/07
SUBJECT: City Manager Approval/Approval date 5/4/07
ITEM: Authorization for City Manager to enter into agreement for
appraisal services with Paul Hornsby and Company for an addendum to the
appraisal for Parcel 6/6E and McNeil Community Park.
Department: Legal
Staff Person: Don Childs
Justification:
Funding:
Cost: $4,800.00
Source of funds:
Background Information: Authorization for City Manager to enter into
agreement for appraisal services with Paul
Hornsby and Company to establish a basis for
the exchange of the two properties.
Updated 3-10-05