State and Federal Officials Launch $42-Million Buyout Program for Rancho Palos Verdes Homeowners

State and federal officials announced a $42-million buyout program for Rancho Palos Verdes residents affected by recent landslides last month. 

“This buyout program provides a viable pathway forward for our most vulnerable community members, offering the opportunity to relocate and rebuild with meaningful compensation," Rancho Palos Verdes Mayor John Cruikshank explained at a town hall meeting on Oct. 28. 

Under the voluntary program, properties acquired by the city would be converted to open space and then deed-restricted to prevent future risk to properties in this vulnerable region. 

The funds come from the Federal Emergency Management Agency (FEMA) and the California Governor’s Office of Emergency Services.

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