The Crown has signed a Deed of Settlement for all outstanding historical Treaty claims with Ngati Koata iwi.
The document signed on Friday includes financial redress of $11.76 million and gives the tribe the opportunity to buy Waimea and Hira forestry land near Nelson.
Under the settlement, Ngati Koata will also be able to purchase the Stoke community police station and the Department of Conservation office at Renwick.
Treaty Negotiations Minister Christopher Finlayson said the actions of the Crown left the iwi without sufficient and suitable land for their needs.
He said that had serious consequences for their social and cultural wellbeing.
Mr Finlayson said the Deed of Settlement not only gives Ngati Koata financial redress but also cultural redress, including recognition of the strong association the iwi has with D'Urville and Stephens Islands and French Pass in the Marlborough Sounds.
He said the signing shows that the Crown is working with iwi, can resolve historical grievances and is building an economic platform that benefits the tribe and the wider community.
Ngati Koata Trust chairperson Jeanette Grace said the signing was a momentous occasion for the tribe.