After several months of waiting, the city has received $2 million in offshore oil money to finance a three-year project to stabilize the Portuguese Bend landslide.
City Manager Donald F. Guluzzy said the City Council will now approve an agreement giving the money to the city Redevelopment Agency, which will carry out the slide plan that calls for a system of canyon drains to divert rainwater and the grading and shifting of tons of soil to reduce land movement. Work is to begin this summer.
The money came from the state controller's office under terms of a grant approved last year by the state Legislature.
The state received the money from the federal government through a budget resolution that settled a lengthy dispute with seven states, including California, over sharing of federal offshore oil royalties. Guluzzy said the city has invested the $2 million and could earn $100,000 before the money is needed for slide work.
The plan will be reviewed by a technical committee of consulting geologists during a field trip and meeting Friday. The meeting, at about 12:30 p.m. in City Hall, will be open to the public.