State and city leaders on Monday announced a massive $42 million voluntary buyout program for Rancho Palos Verdes residents affected by the fallout from the crisis. continued land movements in the area since 2023.
The program, administered through the Federal Emergency Management Agency and the California Governor’s Office of Emergency Services, will provide funds to property owners in the affected area whose homes have been damaged or threatened by land displacement.
Jason Armond
The funding comes through FEMA’s Hazard Mitigation Grant Program and is intended to help eligible residents relocate to a safer area. They will receive “fair market value” for their properties, according to a statement from Rancho Palos Verdes city leaders.
“Properties acquired by the city through this program will be permanently converted to open space and prohibited, protecting the community from future redevelopment risks in these sensitive areas,” the statement said.
Rancho Palos Verdes has been hit hard over the past two years by ongoing land movements, which have caused severe damage to roads, homes and utilities – ultimately leading to the region’s major natural gas and electricity suppliers are shutting down their services to hundreds of people in the area.
“Over the past two years, our residents have endured extraordinary hardship as a result of this landslide, with some facing the real prospect of losing their homes completely,” said John Cruikshank, Mayor of Rancho Palos Verdes. “This buyout program provides a viable path forward for our most vulnerable community members, providing the opportunity to relocate and rebuild with meaningful compensation.”
Related: Rancho Palos Verdes residents affected by land movements are receiving relief funds
FEMA allocated the funds for the program after President Joe Biden issued a disaster declaration in LA County due to the powerful storms in early 2024, between January 31 and February 9, that affected thousands of residents in the form of landslides, floods and mudslides.
Interested property owners are advised to sign up for the buyout program by first requesting a property inspection from Rancho Palos Verdes by November 4 at 4:30 p.m. They must also submit a completed application by Friday, November 8 at 4:30 p.m. All applications will be reviewed by Cal OES and Rancho Palos Verdes to ensure they meet FEMA’s eligibility criteria.
If approved, the city will purchase the property for “a price determined by an appraisal based on the fair market value of the land as of December 1, 2022, prior to the acceleration of the landslide,” the statement said. Properties will be selected based on a number of factors including safety considerations, structural condition and utility status.
FEMA’s grant money will pay for 75% of the sale, while property owners contribute the additional 25% through a “reduction of the payment at fair market value.”
They say additional program cycles may also become available in the future.
