CM-12-11-234ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY.
Item Caption:
Approval Date:
CM)'2-(123'ECEIVED
City Manager Approval Form
NOV 012012
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to purchase of
a (1) 0.247 acre tract of land improved with a 2,139 SF residence, a (2) 3.441 acre tract of land improved
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Department Name: Legal
Project Manager:
Assigned Attorney: Don Childs
Item Summary:
No. of Originals Submitted: 2
Project Name: Creek Bend Extension
Cost: $15,750
Source of Funds: 2007 General Obligation Bonds
Source of Funds (if applicable): RR Trans Dev Corp Construction
Account Number:
Finance Director Approval: Cheryl Delaney
Date: 10/31/12
Department Director Approval: Date:
**Electronic signature by the Director is acceptable. Please only submit ONE approval form per item. **
CIP n n Budget n n Purchasing n
N/A OK N/A OK N/A
111
OK
Accounting n n
N/A OK
ITEMS WILL NOT BE PLACED ON THE COUNCIL OR CM AGENDA W/OUT PRIOR FINANCE AND/OR LEGAL APPROVAL
0199.0105 -Gen; 00261332.pdf
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 Hanslik, MAI
Krista Laine, MAI
Lance Lawson, MAI
Chris Hornsby, MAI
Clifford Shaw, State Certified
October 24, 2012
City of Round Rock
Steve Norwood
City Manager
221 E. Main Street
Round Rock, TX 78664
Cathy Thomas, State Certified
Melany Adler, State Certified
Dawn Smith, State Certified
Joseph McAweeney, State Certified
Kimberly Garvey, Research Director
Terri Bowden, Business Manager
Kristian Thompson, Administrative Assistant
Re: Proposal for appraisal services relating to a (1) 0.247 acre tract of land improved with a
2,139 SF residence, a (2) 3.441 acre tract of land improved with a community center, a (3) 0.964
acre tract of land, and a (4) 5.985 acre tract of land improved with a single family residence,
Round Rock, Texas.
Dear Mr. Norwood:
As requested, I am pleased to provide this proposal for appraisal services relating to the
properties captioned above. Terms of the assignment are summarized below.
Real Estate to be Appraised:
Purpose of the Appraisal:
A (1) 0.247 acre tract of land improved with
a 2,139 SF residence, a (2) 3.441 acre tract
of land improved with a community center,
a (3) 0.964 acre tract of land, and a (4) 5.985
acre tract of land improved with a single
family residence, Round Rock, Texas.
To estimate the market value of the fee
simple interest in the subject properties as of
the date of inspection.
Use of the Report: Whole and partial acquisitions of the
properties.
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
2--1(-234
Appraisal & Reporting Standards:
Fee:
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 the Standards of
Professional Appraisal Practice of the
Appraisal Institute.
The results of our analysis will be set forth
in summary reports as defined by Standards
Rule 2-2(b), of USPAP.
Tract 1: $4,500
Tract 2: $3,750
Tract 3: $3,750
Tract 4: $3,750
Total: $15,750
The above fee is predicated on the
assumption that only the land component of
Tracts 2 and 4 will be appraised, as the
primary improvements do not appear to be
impacted by the partial acquisitions. Fees
are payable upon delivery of the reports.
Time subsequent to the initial assignment,
including, without limitation, 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
Information Necessary to
Complete the Assignment
(as available): •Surveys
•Title commitments
•Any offers to buy or sell the properties
within the last three years
Completion:
Estimated at 60 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
Paul Hornsby, MAI, SRA, C
Accepted:
City of Round Rock
By: Steve Norwood