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Residents of the Southern California city of Rancho Palos Verdes are being offered a voluntary buyout of their homes affected by land displacement that has caused landslides and prompted power and gas outages.
According to an ABC 7 News article, the $42 million program, funded by FEMA’s Hazard Mitigation Grant Program, “provides the most vulnerable community members with a viable path forward and provides a meaningful “We will provide the opportunity for relocation and reconstruction with reasonable compensation.” Mayor John Cruikshank. “FEMA grants will pay 75% of the sale price, and property owners will contribute the remaining 25% by reducing their fair market value payments,” city officials said.
The selected homes will be purchased at the property’s fair market value in December 2022, before any new landslides occur. “Properties acquired by the City through this program will be permanently converted to open space and deeds will be restricted, protecting the community from future redevelopment risks in these vulnerable areas.”
Portugal’s Bend in Palos Verdes is not the only area along the Southern California coast facing recurring threats from landslides and erosion. Portions of the passenger rail line between Los Angeles and San Diego have been closed multiple times to repair erosion damage and make the tracks safe for travel.
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