$6.4 million settlement approved for Freddie Gray’s family

Gray suffered a fatal spinal injury while he was transported in a Baltimore police van in April.

The settlement does not "represent any judgment" on the guilt or innocence of the six police officers charged in the case, Mayor Stephanie Rawlings-Blake said. "This settlement represents an opportunity to bring closure the Gray family, the community and the city."

Rawlings-Blake, part of a five person panel called the Board of Estimates that handles the city's financial affairs.

Gray's family negotiated the deal with city attorneys, a source close to the family told CNN.

"All of us realize that money cannot, will not -- there's no possibility -- to bring back a loved one," the mayor said. "I hope that this settlement will bring a level of closure for the family, for the police department and for our city."

She and others on the panel said that the decision to settle with the family was weighed against the high cost of fighting an anticipated civil suit.

"We can avoid years and years of protracted civil litigation," Rawlings-Blake said, that would be a "significant expense."

Prosecutor Marilyn Mosby has said Gray's injury in April occurred because he was handcuffed and shackled -- but not buckled in -- in the police van. Six officers will stand trial for charges ranging from assault to murder. All six have pleaded not guilty.

Police disapprove of settlement

But the head of Baltimore's police union, which represents the six accused officers, said such a settlement would be premature.

"To suggest that there is any reason to settle prior to the adjudication of the pending criminal cases is obscene and without regard to the fiduciary responsibility owed to (taxpayers)," said Gene Ryan, president of the Baltimore Fraternal Order of Police.

"There has been no civil litigation filed, nor has there been any guilt determined that would require such a ridiculous reaction."

Ryan urged the city committee to reject the settlement pact.

"This news threatens to interrupt any progress made toward restoring the relationship between the members of the Baltimore Police Department and the Baltimore city government."

Gray's death sparked outrage that led to days of massive protests, including some that turned violent. Buildings went up in flames, and local businesses were devastated by vandalism and looting -- despite the Gray family's pleas for peace.