CM-12-08-160ROUND ROCK, TEXAS
PURPOSEf.S51ON PROSPERffY
Item Caption:
V" -12-a-1 (0 RECEIVED
AUG 29 NU
City Manager Approval Form
Consider approval for appraisal service relating to a .07740 acre tract of land and improvements located
at the southwest corner of Lampasas Street and East Liberty Ave, Round Rock Texas.
Approval Date: 8/31/12
Department Name: Finance Department
Project Manager: Cheryl Delaney
Assigned Attorney: Steve Sheets
Item Summary:
This item will allow for appraisal services from Paul Hornsby & Company for property located at the corner of Lampasas Street
and East Liberty Ave (107 Liberty Ave E). This is the final piece of property that the City would like to acquire to build additional
parking for the downtown area. This appraisal will determine the current market value the property.
No. of Originals Submitted: 1
Project Name:
Cost: $4,500
Source of Funds: General Self -Financed Construction
Source of Funds (if applicable): Select Source Fund
Account Number:
Finance Director Approval: Cheryl Delaney
Date: 8/27/12
Department Director Approval: Cheryl Delaney
Date: 8/27/12
**Electronic signature by the Director is acceptable. Please only submit ONE approval form per item.**
CIP l l ❑� Budget I I I J Purchasing I I I I Accounting
N/A OK N/A OK N/A OK
N/A OK
ITEMS WILL NOT BE PLACED ON THE COUNCIL OR CM AGENDA W/OUT PRIOR FINANCE AND/OR LEGAL APPROVAL
REV. 6/20/11
PAUL HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
AUSTIN • DALLAS/FORT WORTH
Paul Hornsby, MAI, SRA, CRE®
David J. Englund, MAI, SRA
Eli HaraNk, MAI
Meta Laine, MAI
Clifford Shaw
Stave Bryant
August 22, 2012
City of Round Rock
c/o Steve Sheets
221 E. Main Street
Round Rock, TX 78664
Lance Lawson
Chris Hornsby
Cathy Thomas
Dawn Smith
Corey Smith
Melany Adler
Joseph McAweeney
Re: Proposal for appraisal services relating to a 0.07740 acre tract of land improved with a 160
SF outbuilding used as a barber shop at the southwest corner of Lampasas Street and East
Liberty Ave, Round Rock, TX.
Dear Mr. Sheets:
As requested, I am pleased to provide this proposal for appraisal services relating to the property
captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised: A 0.07740 acre tract of land improved with
a 160 SF outbuilding used as a barber shop
at the southwest corner of Lampasas Street
and East Liberty Ave, Round Rock, TX.
Purpose of the Appraisal: To estimate the market value of the fee
simple interest in the subject property as of
the date of inspection.
Use of the Report: Litigation proceedings.
Appraisal & Reporting Standards: 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 the Standards of
2100 Kramer Lane • Suite 550 • Austin, Texas 78758 • 512-477-6311 • (Fax) 512-477-1793
777 Main Street • Suite 600 • Fort Worth, Texas 76102 • 817-887-8467
MA, -12v8 -ilio
Fee:
Completion:
Professional Appraisal Practice of the
Appraisal Institute.
The results of our analysis will be set forth
in a summary report as defined by Standards
Rule 2-2(b) of USPAP.
$4,500, payable upon delivery of the report.
Time subsequent to the initial assignment,
including, without limitation, updates,
meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be paid monthly as incurred,
at the following hourly rates:
Paul Hornsby: $250/hour
Staff Appraisers: $150-$200/hour
Estimated at 30 days from your written
authorization to proceed.
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
PaAJA1.1--)
Paul Hornsby, MAI, SRA, CRE
Accepted:
001//Xz_
Date
City of Round Rock
By:
✓eN0r Wood