Power and gas were shut off to dozens of homes in Rancho Palos Verdes as landslides threatened homes and infrastructure. Now, the city is offering to buy the homes to help residents relocate.
Residents in the Southern California city of Rancho Palos Verdes will be offered a voluntary buyout for homes affected by shifting land that has been causing landslides and prompting power and gas shutoffs.
According to an article from ABC 7 News, the $42 million program, funded by FEMA’s Hazard Mitigation Grant Program, offers “a viable pathway forward for our most vulnerable community members, offering the opportunity to relocate and rebuild with meaningful compensation,” according to the city’s mayor John Cruikshank. “The FEMA grant will pay for 75% of the sale and property owners will contribute the remaining 25% through a reduction of the fair market value payment, city officials said.”
Homes selected will be purchased for the fair market value of the property in December 2022, prior to the newest landslides. “Properties acquired by the city through this program will be permanently converted to open space and deed-restricted, protecting the community from future redevelopment risks in these vulnerable areas.”
Portuguese Bend in Palos Verdes isn’t the only part of coastal Southern California facing repeated threats from landslides and erosion. A portion of the passenger rail route between Los Angeles and San Diego has been shut down multiple times to repair damage from erosion and make the track safe for travel.
FULL STORY: $42 million buyout program announced for Rancho Palos Verdes homeowners impacted by landslides
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