BUTTE COUNTY, Calif. - PG&E announced Tuesday that it will pay a $1 billion settlement to 14 public entities in California with various claims from the 2015 Butte Fire, the 2017 North Bay Fires, and the 2018 Camp Fire.
The payment will be incorporated into a plan of reorganization filed by PG&E in its Chapter 11 case and is subject to confirmation by the Bankruptcy Court.
See a breakdown of the settlement below.
Butte County accepted a mediator's proposal of $252 million to resolve the county's Camp Fire claims. The proposal does not affect the claims of residents, individuals and businesses.
"This is an important step toward stabilizing the county so we can continue to provide key services to residents, especially as our communities recover from the Camp Fire," said County Council Bruce Alpert.
"This is just going to ease our burden, our cash flow, [and] all of that, which is a constant concern," said Butte County Supervisor Debra Lucero. "We have a lot of money going out as a result of the Camp Fire so having this cushion, hopefully, we'll get it quickly. It was a quick settlement and if I know our attorneys they'll get this in the coffer soon so we can get to good work in Butte County."
Town of Paradise
The Town of Paradise accepted a mediator's proposal of $270 million to resolve the town's Camp Fire claims.
The town lost 90% of its property tax base and virtually all of its sales tax revenue as a result of the fire, according to a statement from town officials. The money will be used to help cover losses while the town works to re-establish its revenue base.
Paradise Parks and Recreation District
The Paradise Parks and Recreation District accepted a mediator's proposal of $47.5 million to resolve the district's Camp Fire claims.
“The District wants to help the community rebuild, and this is an important step towards our community’s recovery,” said District Manager Dan Efseaff. “The District believes a robust and speedy recovery includes parks and recreation for a community looking to heal.”
Yuba County, eight other North State counties
Yuba County, along with eight other northern California counties, accepted a mediator's proposal of $415 million to be allocated among each of the participating cities and counties.
In addition to an undetermined amount allocated to Yuba County for damages from the Cascade Fire, the County will also receive $12.5 million for impacts related to the Camp Fire.
According to county officials, the proposed settlement does not affect the claims of any residents, individuals and businesses. The amounts are intended to compensate public entities for losses that include damage to roads and water systems, reductions in revenues, and other public losses and costs not covered by insurance or disaster assistance programs.
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