Rancho Palos Verdes residents may soon see an end to land movement woes

Rancho Palos Verdes monitoring land movement

A meeting was held to address the land movement crisis that left residents without power or gas.

LOS ANGELES COUNTY, Calif. - There is hope for some residents in Rancho Palos Verdes that the nightmare stemming from the recent series land movements might soon be over.

The residents could learn if their homes damaged by landslides and shifting land will be bought out and converted to public open space before Christmas.

On Tuesday, a meeting was held to discuss the latest in the ongoing land movement crisis.

The City of Rancho Palos Verdes said it received 85 eligible applications for buyouts, including 20 from owners of red-tagged homes, meaning they are unlivable. The city said those homeowners will get priority.

Approved applicants may get paid up to 75% of the fair market value of the home in 2022 before back-to-back atmospheric rivers devastated the community. The money is coming from $42 million in FEMA grants, which is enough to purchase roughly 20 homes.

Rancho Palos Verdes officials hope there could be more money down the road.