CM-2014-364City of Round Rock
Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to updating appraisals on Parcels 1, 5 and 6 for the
Creek Bend Extension project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 3/28/2014
Dept Director: Steve Sheets
Cost: $11,000.00
Indexes:
Attachments: 00295322. PDF
Department: Legal Department
Text of Legislative File CM -2014-364
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to updating
appraisals on Parcels 1, 5 and 6 for the Creek Bend Extension project.
Staff recommends approval.
City of Round Rock Page 1 Printed on 3/24/2014
LEGAL DEPARTMENT APPROVAL FOR CITY COUNCIL/CITY MANAGER ACTION
Required for Submission of ALL City Council and City Manager Items
Department Name: Legal
Project Mgr/Resource: Steve Sheets
Council Action:
ORDINANCE
Agenda Wording
Project Name: Appraisal Services
ContractorNendor: Paul Hornsby & Company
El RESOLUTION
]City Manager Approval
CMA Wording
Consider executing a proposal for appraisal services by Paul Hornsby & Company relating to updating appraisals on Parcels 1, 5
and 6 for the Creek Bend Extension project.
Attorney Approval
Attorney
Notes/Comments
Date 3/c9
y f
O:\wdox\SCCInts\0199\0105-GEN\MISC\00295384.XLS Updated 6/3/08
PAUL HORNSBY & COMPANY
APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA, CRE
David J. Englund, MAI, SRA
Eli Hanslik, MAI
Lance Lawson, MAI
Chris Hornsby, MAI
Dawn Smith, MAI
Clifford Shaw, State Certified
March 21, 2014
City of Round Rock
c/o Steve Sheets
309 East Main Street
Round Rock, Texas 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 Parcel 1, a 0.247 acre tract of land improved with a
2,139 SF residence, Parcel 5, a 5.985 acre tract of land improved with.a single family residence,
and Parcel 6, a 126.6 acre tract of land improved with a single family residence and attendant site
improvements, 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:
Parcel 1, a 0.247 acre tract of land improved
with a 2,139 SF residence, Parcel 5, a 5.985
acre tract of land improved with a single
family residence, and Parcel 6, a 126.6 acre
tract of land improved with a single family
residence and attendant site improvements,
Round Rock, Texas.
To estimate the market value of the fee
simple interest in the subject properties as of
the date of inspection.
2100 Kramer Lane • Suite 550 • Austin, Texas 78758 • 512-477-6311 • (Fax) 512-477-1793
CM -2014-364
Use of the Report: Establishing a basis for partial acquisition of
the properties.
Appraisal & Reporting Standards:
Fee:
Information Necessary to
Complete the Assignment
(as available):
Completion:
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 three Appraisal Reports as defined by
Standards Rule 2-2(a) of USPAP.
Parcel 1: $4,000
Parcel 5: $3,500
Parcel 6: $3,500
Total: $11,000
The above fee is predicated on the
assumption that only the land component of
Parcels 5 and 6 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.
The fee will cover without limitation, the
initial assignment, updates, meetings,
depositions, mediation, arbitration, trial and
preparation for testimony.
Paul Hornsby: $250/hour
Staff Appraisers: $150-$200/hour
•Survey
•Title commitment
•Any offers to buy or sell the properties
within the last three years
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:
r,3107.,0Y
Date
City of Round Rock
By: Steve Norwood