The lawsuit was filed on behalf of 32 of the 36 people who died in the fire during a live music event.
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The total settlement is $32.7 million.
In a statement, the city said, "The settlement will be allocated, with $23.5 million for the families of the fire victims who perished, and $9.2 million for plaintiff Sam Maxwell, who survived the fire but will live with severe, lifelong injuries and major medical expenses."
"The settlement will be allocated, with $23.5 million for the families of the fire victims who perished, and $9.2 million for plaintiff Sam Maxwell, who survived the fire but will live with severe, lifelong injuries and major medical expenses," the statement said.
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The city says it is not liable for these "tragic losses," it is not liable for these tragic losses, but decided to settle this case because of the cost-benefit analysis. Officials say Oakland's total insurance coverage is $22 million.
The criminal case against the master leaseholder of the warehouse, Derick Almena, is ongoing, and a retrial is scheduled to begin in October 2020.
Go here for ABC7's full history of coverage on the Ghost Ship fire and trial.