CM-2017-1315 - 2/10/2017PAUL HORNSBY & COMPANY
'C) APPRAISERS AND CONSULTANTS
Paul Hornsby, MAI, SRA
David J. Englund, MAI, SRA
Eli Hanslik, MAI
Chris Hornsby, MAI
Melany Adler, MAI
Katie Daniewicz, MAI
Clifford Shaw, ASA
January 31, 2017
City of Round Rock
c/o Steve Sheets
Sheets & Crossfield, P.C.
309 East Main Street
Round Rock, Texas 78664
Joseph McAweeney, State Certified
Matthew Cox, Appraiser Trainee
Kimberly Garvey, Appraiser Trainee
Justin Sims, Appraiser Trainee
Kayla Carter, Appraiser Trainee
Terri Bowden, Business Manager
Jennifer Beardsley, Research Director
Re: Proposal for appraisal services relating to a proposed fee acquisition out of a tract of land
improved with a Walgreen's located at 2821 Oakmont Drive, Round Rock, TX 78665.
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:
Purpose of the Appraisal:
Use of the Report:
A proposed fee acquisition out of a tract of
land improved with a Walgreen's located at
2821 Oakmont Drive, Round Rock, TX
78665.
To estimate the market value of the fee
simple interest in the subject property and
just and adequate compensation as of the
date of inspection.
Establishing a basis for partial acquisition of
the subject property.
7600 N. Capital of Texas Highway • Building B, Suite 210 • Austin, Texas 78731 • 512-477-6311 •
JM,
�/� (Fax) 512-477-1793
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(a) of USPAP.
Fee: $4,500, payable upon delivery of the report.
These fee is predicated on the assumption
that only the land component of the property
and site improvements impacted by the
proposed acquisition will be appraised and
the primary improvements are not impacted.
Should improvements need to be appraised
the fee will revised to a mutually agreeable
amount.
All time spent subsequent to the initial
appraisals, including, without limitation,
updates, meetings, depositions, mediation,
arbitration, trial and preparation for
testimony, will be billed at the following
hourly rates.
Paul Hornsby: $375/hour
MAI Staff Appraisers: $275/hour
State Certified Appraisers: $175/hour
Land Planning: $175/hour
Research Staff: $150/hour
Administrative Staff. $75/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 30-45 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
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Paul Hornsby, MAI, SRA
Accepted:
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City of Round Rock
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TEXAS Agenda Item Summary
Agenda Number:
Title: Consider executing a proposal for appraisal services by Paul Hornsby &
Company relating to one (1) tract of land related to the University
Boulevard project.
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 2/10/2017
Dept Director: Steve Sheets
Cost: $4,500.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: 00372052.PDF
Department: Legal Department
Text of Legislative File CM -2017-1315
Consider executing a proposal for appraisal services by Paul Hornsby & Company
relating to one (1) tract of land related to the University Boulevard project.
Parcels to be appraised:
Parcel 16- Walgreens
Cost: $4,500
Source of Funds: University Boulevard
City of Round Rock Page 1 Printed on 2/9/2017