17-1206_BALLARD, TIMOTHY J._Staff MemoMEMORANDUM December 6, 2017
TO: Accounts Payable, Admin Services
FROM: Steve May, Public Works & Utilities Director ,Q VV,
SUBJECT: Grading Bond Reduction, Ballard — 32121 Peppertree Bend
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This memorandum is authorization to reduce the grading bond posted for 32121 Peppertree
Bend from $323,900.00 to $32,390.00. The grading and on-site improvements that were
secured by the bond have been partially completed to warrant the 90% reduction of the
bond, therefore releasing $291,510.00.
A cash deposit by the owner was posted as security for the bond. A copy of receipt # 10006
is attached for your information.
If you have any questions, please contact me.
Attachment
CC: Maria Morris
Contact info: Tim Ballard
3501 Jamboree Road, Suite 4200
Newport Beach, CA 92660
949-219-1584