Former Boston Mayor Thomas Menino announces that $20 million dollars was raised for One Fund Boston in the one week following the Marathon bombings. Credit: Getty Images
A fund that has distributed more than $60 million to the victims of last year's Boston Marathon bombing said on Friday it is preparing its final round of payments.
The One Fund Boston, which has $19 million remaining in its coffers, said it will be disbursing money "to those survivors with the most severe physical injuries."
"The One Fund expects that, following the distribution of payments this summer, there will be no further payments to individuals," it said in a news release, adding it would begin to process payments by the end of July.
The One Fund was established by Boston Mayor Thomas Menino and Massachusetts Governor Deval Patrick shortly after the bombings, which killed three people and injured more than 260 at the finish line of the world-renowned race on April 15, 2013.
The fund distributed nearly $61 million of donated money to over 230 victims' families and survivors in the months after the attack, which prosecutors say was committed by a pair of Chechen brothers using homemade pressure-cooker bombs.
One of the brothers, Tamerlan Tsarnaev, was killed during a manhunt days after the attack, and the other, Dzhokhar Tsarnaev, was captured and is awaiting trial. He has pleaded not guilty and faces the death penalty if convicted.
The One Fund is managed by Kenneth Feinberg, an arbitration attorney who also oversaw compensation for victims of the Sept. 11, 2001 attacks.
The fund said it will release guidelines on who is eligible to receive money from the fund by June 26, and it set a July 30 deadline for applications. Payment processing will begin July 31.
"The One Fund will contribute any funds remaining after this distribution to programs offered by appropriate professional medical services that can help as many survivors as possible," it said.