CM-07-07-172PAUL HORNSBY & COMPANY
REAL PROPERTY APPRAISERS AND CONSULTANTS
July 12, 2007
Mr. Jim Nuse, City Manager
City of Round Rock
221 E. Main Street
Round Rock, TX 78664-5246
Re: Proposal for appraisal services relating to acquisition ofright-of-way for the proposed
realignment and widening of Kiphen Road in Round Rock, Williamson County,
Texas.
Dear Mr. Nuse:
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 1- (Cameo Land, Ltd.): Approximately
7.931 acres of vacant land located at the southeast
corner of Kiphen Road and FM1460.
Parcel 2 - (GCLC, Ltd.): Approximately 11.301
acres of land, improved with an office/industrial
development located just south of Kiphen Road,
and east of FM1460.
To estimate just compensation for the proposed
acquisitions.
To assist the client in negotiations involving the
acquisition of right-of-way for the proposed
realignment and widening of Kiphen Road.
The appraisals will be developed and the reports
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.
8303 N. MoPac Expressway. Suite A-150. Austin, Texas 78759 .512/477-6311. Fax 512/477-1793
Cc)
July 12, 2007
Page 2
Appraisal & Reporting
Standards (cont.):
Fee:
The results of our analysis will be set forth in
summary appraisal reports as defined by Standard
Rule 2-2(b), of USPAP.
Parcel 1 - Camco Land, Ltd: $4,250
Parcel 2 - GCLC. Ltd.: $3,500
Total $7,750
The fee for each appraisal is payable upon
completion of the respective assignment.
The fee reflects a multi -parcel assignment and is
contingent on all appraisals being undertaken
concurrently. The quoted fees assume appraisals
of land and site improvements. Should any
primary improvements need to be appraised, the
fee would be raised to a mutually agreed amount.
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 to 60
days from authorization.
July 12, 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
Accepted:
City of Round Rock
Jim
City Manager, City of Round Rock
DATE:
SUBJECT:
ITEM:
Hornsby &
CITY MANAGER BLUE SHEET
7/16/07
City Manager Approval/Approval date 7/20/07
Request for City Manager to enter into an agreement with Paul
Co. for appraisals services on Kiphen Rd. (Parcel 1 and Parcel 2).
Department: Legal
Staff Person: Don Childs
justification:
Funding:
Cost: $7,750.00
Source of funds:
Backaround Information: Request for City Manager to enter into an
agreement with Paul Hornsby & Co. for
appraisals services on Kiphen Rd. (Parcel 1 and
Parcel 2).
Updated 3-10-05