A Florida judge approved an $83 million settlement Tuesday that will be divided up between people who lost condos during the collapse of the Champlain Towers South in Surfside, Florida.
Miami-Dade Circuit Court Judge Michael Hanzman said the settlement was contingent on the sale of the empty beachfront lot for at least $120 million where the 12-story building once stood. However, owners are allowed to opt out of the settlement in order to sue separately.
“It gives them certainty. These people need certainty, and they need to carry on,” Hanzman said, according to the Associated Press. “Maybe it’s not 100% of value, but it’s pretty close. I think it’s an outstanding result.”
The compensation for the families of the 98 people killed in the collapse is not included in the settlement and will be determined after testimonies from experts are heard.
PREHISTORIC HUMAN REMAINS FOUND AT MIAMI CONDO CONSTRUCTION SITE
An auction for the now-vacant lot will be coming up in the next few weeks, attorneys said, and $50 million of the settlement will come from the condo’s insurance carrier, and the other $33 million will come from the sale, the Miami Herald reported. One bid of $120 million is already on the table.
The settlement is part of a bigger lawsuit arguing that work being done on an adjacent condo building, called Eighty Seven Park, contributed to the collapse of the Champlain Towers South last June. The defendants with Eighty Seven Park deny any wrongdoing or negligence.
An investigation into the cause of the collapse is still underway, but the building was in the middle of an inspection when it collapsed, and engineers already noted some serious structural problems.
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The city of Surfside is planning a permanent memorial to honor the 98 killed in the collapse and a one-year anniversary event in June.
