RANCHO PALOS VERDES, Calif. (AP) — Homeowners on a Southern California peninsula where worsening landslides have damaged homes and led to utility shutoffs are eligible for a $42 million voluntary buyout program offered by state and federal officials. The program was announced Monday night during a special town hall meeting for Rancho Palos Verdes residents plagued by shifting land on their properties.
The money will come from the Federal Emergency Management Agency, or FEMA, and the California Governor’s Office of Emergency Services. “This buyout program provides a viable pathway forward for our most vulnerable community members, offering the opportunity to relocate and rebuild with meaningful compensation,” said Rancho Palos Verdes Mayor John Cruikshank. More than 250 homes in the city south of Los Angeles have been affected by land movement and utility shutoffs over the past two years.
Many residents have said they are facing costs of up to $100,000 as they scramble to fortify foundations, switch to off-grid solar energy and convert natural gas lines to propane. The FEMA funds were allocated after federal officials declared a disaster following wet winter storms in January and February that contributed to more landslides, reported. The voluntary program is intended to help eligible homeowners relocate to safer areas by offering a fair market value for their homes based on pre-disaster appraisals.
Properties acquired by the city through this program will be permanent.