Rancho Palos Verdes secures $54 million for landslide property buyouts

Rancho Palos Verdes has been awarded over $54 million in federal grants from the Federal Emergency Management Agency (FEMA) to fund a Voluntary Property Buyout Program. The funds will facilitate the purchase of 27 properties in the Portuguese Bend area that have been severely impacted by ongoing landslides. The buyout will occur in two rounds, covering 22 homes initially and five additional homes in a subsequent phase. Properties were selected based on safety risks, such as utility loss or active land movement.

To address the broader financial impact of the landslides, which is projected to cost the city approximately $75 million by June 2027, local officials are proposing Measure RS. This ballot measure, appearing to voters in November, seeks to increase the transient occupancy tax from 10% to 13%. If passed, the tax increase on overnight hotel guests at establishments like the Terranea Resort could generate an estimated $2.2 million annually to help mitigate landslide-related damages.