CM-14-01-293City of Round Rock
Agenda Item Summary
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Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to the University Boulevard project.
City Manager Item
City Manager Approval
1/17/2014
Gary D. Hudder, Transportation Director
$4,500.00
RR Transportation and Economic Development Corporation (Type B)
LAF- Hornsby Appraisal Services- University Blvd (Ikea)
(00290258xA08F8), 50_Scale_ATMOS Easement Exhibit -1-8-2014, Ikea
strip of land - John Dean - City of Round Rock
Transportation Department
Text of Legislative File CM -14-01-293
The University Boulevard project will widen University Boulevard to a six -lane divided section with a raised
median. This project will tie into the Divergent Diamond Interchange (DDI) that TxDOT currently has under
design at University Boulevard and IH -35. In order to eliminate redundancy and construct the project in a
logical manner, the portion of University Boulevard between University Oaks and the IH -35 northbound
frontage road has been proposed to be constructed by TxDOT as a part of the DDI , but paid for by the City of
Round Rock, in advance of the planned widening. Subsequently, a parcel of right-of-way has been identified on
the south side of the roadway which is necessary for the roadway and its appurtenances, as well as the
relocation of an Atmos gas line which currently runs along the south side of the roadway . The area is
approximately 16,140 square feet.
This contract with Paul Hornsby and Company will determine a fair market value from which to make an offer to
Ikea for the purchase of this parcel. The amount of this contract is $4,500.
Staff recommends approval.
City of Round Rock Page 1 Printed on 1/16/2014
LEGAL DEPARTMENT APPROVAL FOR CITY COUNCIL/CITY MANAGER ACTION
Required for Submission of ALL City Council and City Manager Items
Department Name: Planning
Project MgrlResource: John Dean
ElCouncil Action:
ORDINANCE
Agenda Wording
Project Name: IKEvuniveraity Blvd
ContractorlVendor: None
ED RESOLUTION
City Manager Approval
CMA Wording
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to the University Blvd project.
Attorney Approval
JAttorney
Notes/Comments
Date
O:\wdox\SCCInts\0127\1410\CORRESPOND100289599.XLS Updated 6/3/08
PAUL HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Homsby, MAI, SRA, CRE
David J. Englund, MAI, SRA
Eli Hanslik, MAI
Lance Lawson, MAI
Chris Homsby, MAI
Dawn Smith, MAI
Clifford Shaw, State Certified
January 14, 2014
Steve Norwood
c/o John Dean
City of Round Rock
2008 Enterprise Drive
Round Rock, TX 78664
Melany Adler, State Certified
Joseph McAweeney, State Certified
Katie Daniewicz, State Certified
Michael Kersten, State Certified
Kimberly Garvey, Litigation Analyst
Terri Bowden, Business Manager
Jennifer Beardsley, Administrative Assistant
Re: Proposal for appraisal services relating to a strip of land being acquired along the north
boundary of a tract of land owned by Ikea Property, Inc., which is located at the southeast corner
of IH -35 and University Blvd., Round Rock, Texas.
Dear Mr. Dean:
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 strip of land being acquired along the
north boundary of a tract of land owned by
Ikea Property, Inc., which is located at the
southeast corner of IH -35 and University
Blvd., Round Rock, Texas.
Purpose of the Appraisal: To estimate just compensation for the
proposed acquisition.
Use of the Report: Establishing a basis for acquisition of the
property.
2100 Kramer Lane • Suite 550 • Austin, Texas 78758 • 512-477-6311 • (Fax) 512-477-1793
CM -H. -OH acA3
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
Professional Appraisal Practice of the
Appraisal Institute.
The results of our analysis will be set forth
in an Appraisal Report as defined by
Standards Rule 2-2, of USPAP.
Fee: $4,500, payable upon delivery of the report.
It is assumed that no primary improvements
are being impacted by the acquisition and
that only site improvements may be
impacted. Should the primary improvements
need to be appraised, the fee will be
adjusted to a mutually agreeable amount.
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
Information Necessary to •Survey
Complete the Assignment •Site Plan
(as available): •Title commitment
•Any offers to buy or sell the property
within the last three years
Completion: Estimated at two weeks 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, CRE
Accepted:
.941,P
City of Round Rock
By: Steve Norwood
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