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Rancho Palos Verdes city leaders will meet Tuesday to discuss next steps as more homes in the area are red-tagged following a takeover bid made several weeks ago. It’s planned.
Officials are expected to discuss the upcoming rain that will hit the region Saturday through next Monday, as well as when eligible homeowners can begin the escrow process.
Last month, on Oct. 29, the city announced the $42 million program at a special city hall meeting. This program is supported by the Federal Emergency Management Agency.
Homeowners in the Greater Portuguese Bend and Seaview landslide areas were targeted. FEMA allocated the funds as part of a disaster declaration resulting from the winter storm from January 31st to February 9th.
85 eligible buyout applications were submitted. Of those, 18 properties have red tags (unsafe to live in) and 34 have yellow tags (habitable but dangerous under certain conditions).
The city plans to spend an estimated $43.6 million. The review and selection process is expected to take at least several months.
Properties purchased by the City through this program are permanently converted to open space and deeds are restricted, protecting the community from future redevelopment risks in these vulnerable areas.
The overall rate of movement is 76% slower than it was in September earlier this year, but the land is still moving about 3.3 inches each week.
The city’s recent dehydration measures and dry summer contributed significantly to the economic slowdown.
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