Miami Dade College has reached a $33.5 million settlement with Ajax Building Corp. and subcontractors over the collapse of a garage under construction at the school’s Doral campus.

The settlement—which includes $26.5 million plus forgiveness of a $7 million contract balance—was reached late Wednesday after a year of mediation. The college was represented by Stuart Sobel, Steven Siegfried and B. Michael Clark Jr. of Siegfried, Rivera, Hyman, Lerner, De La Torre, Mars & Sobel in Coral Gables.