PG&E and the city of San Bruno announced the settlement Monday in a joint statement. They say the money will be used to establish a nonprofit organization to help the community recover from the Sept. 9, 2010, blast that also destroyed 38 homes.
The San Francisco-based utility previously set up a $100 million fund to support emergency needs in the aftermath of the explosion that destroyed more than three dozen homes in the San Francisco suburb.
The City of San Bruno is holding a press conference at 10:45 a.m. to discuss the deal.
Here’s the PG&E statement, which includes these details:
The money will enable San Bruno to establish a not-for-profit public purpose entity to manage the funds and determine how they should be spent for the benefit of the community.
The utility will not seek to recover the contribution through insurance or customer rates.
This agreement is in addition to PG&E’s commitment to fund replacement and repair of the city’s infrastructure and other costs related to the accident and restore the neighborhood.
PG&E also continues to provide assistance directly to those who lost loved ones and homes as a result of the accident. As PG&E has since the night of the accident, the company is committed to meeting the needs of these families and individuals.
“We will continue to work with the victims and the community as a whole to address their needs,” Johns said.