Rancho Palos Verdes Homeowners Offered Voluntary Buyout Program Amid Landslide Concerns
Rancho Palos Verdes homeowners in a neighborhood where shifting land damaged homes and roads are being offered a voluntary buyout program by the Federal Emergency Management Agency (FEMA) and the California Governor’s Office of Emergency Services.
Buyout Program Details
The $42 million program, announced Monday by the Rancho Palos Verdes City Council, is aimed at helping homeowners relocate to safer areas by offering a fair market value for their properties based on pre-disaster appraisals. The voluntary property buyout program will help alleviate the stress and uncertainty faced by residents who have been affected by the accelerated landslide.
About the Rancho Palos Verdes Home Buyout Program
The program was established to help residents relocate to safer areas by offering a fair market value for their properties based on pre-disaster appraisals. Properties acquired by the city through this program will be permanently converted to open space and deed-restricted, protecting the community from future redevelopment risks in these vulnerable areas.
Eligibility Criteria
Property owners interested in applying must request a property inspection from the city by 5:30 p.m. Monday and submit the application by November 8. Properties will be prioritized for selection based on factors such as safety concerns, structural condition, and utility statuses.
How the Buyout Works
If selected for a grant under the program, the city will purchase the property for a price determined by an appraisal that is based on the fair market value of the land on December 1, 2022, prior to the acceleration of the landslide. The FEMA grant will pay for 75% of the sale, and property owners will contribute the remaining 25% through a reduction of the fair market value payment.
Consequences of Landsliding
The area has been hit with ancient landslides, which have accelerated since 2023 after back-to-back heavy rain seasons. The shifting land has damaged homes, buckled roads, and led to utility shutoffs for hundreds of residents. Regular home insurance policies do not cover damage caused by earth movement in California.
City’s Commitment to Residents
"On behalf of the entire city, I express my deep appreciation to FEMA and Cal OES for working with the city to establish this program," said Rancho Palos Verdes Mayor John Cruikshank. "We understand the complexity and emotional weight of this for our residents and are committed to making the process as transparent and compassionate as possible."
Finding Peace of Mind
The buyout program provides a viable pathway forward for the most vulnerable community members, offering the opportunity to relocate and rebuild with meaningful compensation. For those who have been struggling with the constant threat of landslides, this news brings hope and a sense of relief.
FAQs
Q: Who is eligible for the buyout program?
A: Homeowners in the Greater Portuguese Bend landslide area affected by shifting land underneath and around their homes.
Q: What is the deadline to apply?
A: November 8.
Q: How will properties be selected for the buyout program?
A: Properties will be prioritized based on factors such as safety concerns, structural condition, and utility statuses.
Q: What happens if my property is selected for the buyout program?
A: The city will purchase your property for a price determined by an appraisal based on the fair market value of the land on December 1, 2022, prior to the acceleration of the landslide. You will contribute 25% of the sale through a reduction of the fair market value payment.
Q: Can I withdraw from the program?
A: Yes, property owners who have been selected to proceed with the purchase of their property may withdraw at any time prior to sale closing.
