CM-08-04-092DATE: April 11, 2008
SUBJECT: City Manager - April 18, 2008
ITEM: Consider city manager approval for signature of IRS Form
8283 concerning the Sycamore Trail donation of land.
Department: Administration
Staff Person: Jim Nuse, City Manager
Justification: In August 2007, Sycamore Trail LTD donated 11.223 acres of
land to the City of Round Rock for the use of parkland. This
document must be signed for IRS purposes.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: Sycamore Trail, LTD
Background Information: N/A
Public Comment: N/A
Form 8283 (Rev. 12-2006)
Page 2
Name(s)own n your income tag retum Identifying number
` fig /Y►O 1-441 L LT() 714-agt67117
Section B. Donated Property Over $5,000 (Except Certain Publicly Traded Securities)—List in this section only items (or groups of similar
items) for which you claimed a deduction of more than $5,000 per item or group (except contributions of certain publicly traded
securities reported in Section A). An appraisal is generally required for property listed in Section B (see instructions).
Part I
Information on Donated PropertyTo be completed by the taxpayer and/or the appraiser.
4 Check the box that describes the type of property donated:
❑ Qualified Conservation Contribution
Other Real Estate
❑ Intellectual Property
❑ Art' (contribution of $20,000 or more)
❑
Art* (contribution of less than $20,000)
❑ Collectibles"
❑ Equipment
❑ Securities
❑ Other
`Art includes paintings, sculptures, watercolors, prints, drawings, ceramics, antiques, decorative arts, textiles, carpets, silver, rare manuscripts, historical memorabilia, and
other similar objects.
"Collectibles include coins, stamps, books, gems, jewelry, sports memorabilia, dolls, etc., but not art as defined above.
Note. In certain cases, you must attach a qualified appraisal of the property. See instructions.
5 (a) Description of donated property (if you need
more space, attach a separate statement)
(b) If tangible property was donated, give a brief summary of the overall
physical condition of the property at the time of the gift
(c) Appraised fair
market value
c
lib 94
D
i
(d) Date acquired
by donor (mo., yr.)
(e) How acquired
by donor
(f) Donor's cost or
adjusted basis
(g) For bargain sales, enter
amount received
See instructions
(h) Amount claimed as a
deduction
(i) Average trading price
of securities
A
B
C
D
Taxpayer (Donor) Statement—List each item included in Part 1 above that the appraisal identifies as having
a value of $500 or less. See instructions.
I declare that the following item(s) included in Part I above has to the best of my knowledge and belief an appraised value of not more than $500
(per item). Enter identifying letter from Part I and describe the specific item. See instructions Po -
Signature
Signature of taxpayer (donor) ►
Part III
Date ►
Declaration of Appraiser
I declare that I am not the donor, the donee, a party to the transaction in which the donor acquired the property, employed by, or related to any of the foregoing persons, or
married to any person who is related to any of the foregoing persons. And, if regularly used by the donor, donee, or party to the transaction, I performed the majority of my
appraisals during my tax year for other persons.
Also, I declare that I hold myself out to the public as an appraiser or perform appraisals on a regular basis; and that because of my qualifications as described in the
appraisal, I am qualified to make appraisals of the type of property being valued. I certify that the appraisal fees were not based on a percentage of the appraised property
value. Furthermore, I understand that a false or fraudulent overstatement of the property value as described in the qualified appraisal or this Form 8283 may subject me to
the penalty under section 6701(a) (aiding and abetting the understatement of tax liability). In addition, I understand that a substantial or gross valuation misstatement
resulting from the appraisal of the value of the property that I know, or reasonably should know, would be used in connection with a return or claim for refund, may subject
me to the penalty under section 6695A. I affirm that I have not been barred from presenting evidence or testimony by the Office of Professional Responsibility.
Sign
Here
Signature ►_�:
Business
Business address (inc
Title ► Date 10 -
om or suite no.)
Identifying number
City or town, state, and ZIP code
Part IV
Donee Acknowledgment—To be completed by the charitable organization.
This charitable organization acknowledges that it is a qualified organization under section 170(c) and that it received the donated property as described
in Section B, Part I, above on the following date ►
Furthermore, this organization affirms that in the event it sells, exchanges, or otherwise disposes of the property described in Section B, Part I (or any
portion thereof) within 3 years after the date of receipt, it will file Form 8282, Donee Information Retum, with the IRS and give the donor a copy of that
form. This acknowledgment does not represent agreement with the claimed fair market value.
Does the organization intend to use the property for an unrelated use? ► ❑ Yes ❑ No
Name ofiuhartable organizati
(donee)
w
Employer identification number
Address Inumbe
Authorized sign
town, State) and r code
Title C
t C
CM- D`6- b --O
Printed an Recycled Paper
Date 14���^
Form 8283 (Rev. 12-2006)
March 21, 2008
Mr. Jim Nuse
City of Round Rock
221 E. Main Street — 3`1 Floor
Round Rock, Texas 78664
Re: Donation of Land from Sycamore Trail, LTD.
Dear Mr. Nuse:
In August 2007, Sycamore Trail donated 11.223 acres of land to the City of Round Rock
(a copy of the deed is enclosed) for parkland. We are working on our tax return for Sycamore
Trail, Ltd. and your signature is required on IRS form 8283 as the Donee for the land donation.
Will you please sign the enclosed form acknowledging the donation? Please feel free to
call my office if you have any questions.
Sincerely,
2
Urr�
Bob Wunsch
Enclosure
4314 West Braker Lane, Suite 250, Austin, Texas 78759, Phone 512/381-1280, Fax 512/381-1282