The Crown has signed a deed of settlement with Ngati Tuwharetoa, the fifth largest iwi in the country.
The deed that settles Treaty of Waitangi claims was signed at Waitetoko Marae on Saturday.
"Past actions and omissions by the Crown debilitated the social, economic and cultural structures of Ngati Tuwharetoa," says Minister for Treaty of Waitangi Negotiations Christopher Finlayson.
"Today marks the beginning of a new relationship between Ngati Tuwharetoa and the Crown."
Ngati Tuwharetoa receive $25 million and an apology. There are also cultural funds totalling $3.95m and 32 properties of cultural significance to the iwi.
The iwi's area of interest covers most of the Central North Island region and is centred on Lake Taupo and the Central Plateau.
An injunction has been lodged in the high court by Te Matai Trust against the settlement, Te Kaea reports.
"This is the 84th deed of settlement signed by the Crown and an important step towards completing Treaty settlements in the Central North Island and throughout New Zealand," Mr Finlayson said.
Ngati Tuwharetoa received a share of Crown Forest Land in the Central North Island valued at $203m as part of the 2008 Central North Island Forests Iwi Collective settlement.
Within the next year, the Crown will begin cultural redress negotiations over Tongariro National Park with Ngati Tuwharetoa and other iwi and hapu with interests in the park.