The government has signed an agreement in principle with Ngāti Kahungunu ki Wairarapa to settle Treaty claims.

As part of the deal, the Crown will pay the iwi $93 million in a package that includes an apology and the opportunity to purchase some government-owned properties in Wairarapa.

Treaty Negotiations Minister Chris Finlayson said the agreement provided a basis to finally settle the iwi's outstanding Treaty claims.

19 Crown-owned sites will be vested with the iwi, which will also jointly manage Lake Wairarapa with the Wellington Regional Council.