California and federal officials announced on October 28th a $42 million voluntary residential acquisition program for hundreds of Rancho Palos Verdes (PV farm) residents gradually losing their homes due to rapid landslides.
The program targets property owners in the Greater Portuguese Bend landslide area, aiming to assist homeowners in relocating by providing a certain percentage of grant funds based on pre-disaster property assessments as of December 1, 2022. According to the city government, the funding comes from the Hazard Mitigation Grant Program of the Federal Emergency Management Agency (FEMA).
If a property is selected, the city will purchase it at a determined price based on the assessment results. FEMA will cover 75% of the costs, while property owners will contribute the remaining 25% through the decrease in property value.
The PV farm city government stated that the acquired properties will be permanently converted into open spaces with restrictions in the deeds. According to Zillow data, the average residential price in this affluent coastal city was $1.84 million on September 30, a 2.2% increase from last year.
PV farm Mayor John Cruikshank expressed gratitude on October 28th to FEMA and the California Governor Newsom’s Office of Emergency Services. Cruikshank said, “Over the past two years, our residents have endured extraordinary difficulties due to landslide disasters, with some facing the prospect of losing their homes entirely. This acquisition program provides a viable option for our most vulnerable community members, offering the opportunity for relocation and meaningful compensation to rebuild their homes.”
The city government reported that FEMA allocated the funds following federal declarations of disaster in California. The winter storms from January 31st to February 9th brought significant rain and snow to the state.
The city government suggests that more funds may become available in the future. This $42 million grant is the largest ever received by the city and comes at a time when ground movement in the area is slowing down. On October 2nd, the City Council approved $5 million in aid provided by Los Angeles County, with up to $10,000 in assistance per affected property owner.
Earlier this year, the city initiated a plan to remove groundwater around the landslide area. According to an announcement on October 28th, the local area continues to show positive signs of land movement deceleration. The government stated, “This slowdown is attributed to the drainage work of the city government, Abalone Cove Landslide Abatement District, and Klondike Canyon Landslide Abatement District, combined with the dry weather conditions.”
In the past year, nearly 300 landslide area homeowners experienced disrupted power, gas, and internet services due to worsening disasters. Last week, about 28 homeowners had their power restored as studies indicated a slowdown in landslides.
Homeowners interested in applying for the new buyout program must request an inspection from the city government by the end of the workday on November 4th and submit their applications by November 8th.