$42 million voluntary buyout program offered to Rancho Palos Verdes residents

City and government officials announced Monday they are offering a $42 million voluntary buyout program to property owners affected by the Rancho Palos Verdes landslide.

Eligible residents can apply to receive a “fair market value for their properties based on pre-disaster appraisals,” according to the city’s media release.

To be eligible for the program, property owners must email buildingsafety@rpvca.gov by 5:30 p.m. on Monday, Nov. 4. requesting a voluntary property inspection from the city.

Program applications are due to the city by 4:30 p.m. on Friday, Nov. 8.

Interested homeowners can view the program guidelines and how to complete the application process here: www.rpvca.gov/1782/Voluntary-Property-Buyout-Program.

The city said properties they acquire through this buyout will be permanently converted to open space and deed-restricted in an effort to protect the community from future redevelopment risks in the area.

For months, the continuous land movement split roadways, damaged houses, and destroyed infrastructure across the area.

The announcement of this program comes after a summer filled with gas and power shut-offs led residents to speak out and ask for help. In September, Governor Gavin Newsom proclaimed a state of emergency for the area.

Power was initially shut off in early September, and gas was turned off indefinitely to over 200 homes, with the first wave of shut-offs beginning in July.

However, on Oct. 26, officials announced electricity would be restored to some areas after residents had gone without power and gas for months.

Local officials cited the “worsening land movement” as creating unsafe conditions to continue providing natural gas service.

The city, in conjunction with the Federal Emergency Management Agency (FEMA) and the California Governor’s Office of Emergency Services (Cal OES), established the voluntary buyout program to help homeowners affected by the Greater Portuguese Bend landslide relocate to safer areas.