Shooting scene where Philando Castile was killed by police (209649)
Credit: Harry Colbert/Insight News

(CNN) — The family of Philando Castile, who was shot and killed last year by a St. Anthony, Minnesota police officer, has reached a $3 million settlement with the city, according to a statement from the city and lawyers for the family.

Jeronimo Yanez, who is leaving the force, was acquitted June 16 of second-degree manslaughter and two counts of intentional discharge of a firearm that endangers safety. Castile was killed July 6 during a traffic stop, and his girlfriend streamed the shooting’s aftermath on Facebook Live.

“The death of Philando Castile is a tragedy for his family and for our community,” the statement said. “The parties moved expeditiously to resolve potential civil claims resulting from this tragedy in order to allow the process of healing to move forward for the Castile family, for the people of St. Anthony Village, and for all those impacted by the death of Philando Castile throughout the United States.”

“No amount of money could ever replace Philando. With resolution of the claims the family will continue to deal with their loss through the important work of the Philando Castile Relief Foundation.”

The announcement comes a week after the family of Michael Brown, who was shot and killed in 2014 by a police officer in Ferguson, Missouri, reached a settlement in its wrongful death lawsuit against that city.

Brown, who was black, was killed by then-Officer Darren Wilson, who is white. The incident sparked outrage and protest across the country. An investigation by the Justice Department into the incident brought no charges against Wilson, who argued he shot Brown in self-defense as Brown charged at him.

Details of that settlement were not made public, though the original lawsuit shows the Brown family sought punitive and compensatory damages in excess of $75,000, in addition to attorney’s fees.

Castile’s death came one day after the fatal police shooting of Alton Sterling in Baton Rouge, Louisiana, which was partly captured on bystander video and sparked widespread protests.

A more complete picture of what transpired during the July 6, 2016 traffic stop involving Castile was captured by police dash cam video and radio transmissions, which were released June 20.

CNN’s Jennifer Henderson contributed to this report.