Lakes deal could give Te Arawa more than $600,000 income

1.00pm

The financial settlement Te Arawa is being offered for its historical grievances over Rotorua's lakes could earn the tribe more than $600,000 a year.

The Te Arawa Maori Trust Board currently receives just $18,000 a year from the Government as part of a previous settlement agreed in 1922.

A new package finalised last week would do away with the annuity, and would instead include a one-off lump sum of $10 million, backdated to December last year.

The board has told members of the tribe it plans to invest the money, which it estimates will boost its coffers by at least $660,000 a year in interest payments alone.

The estimate is included in a consultation document being sent out to 61 hapu, which outlines the Government's latest offer.

Registered members will vote on the offer in a postal ballot next month.

In the document, board chairman Anaru Rangiheuea urges members of Te Arawa to accept the offer.

Mr Rangiheuea said he believed the board had a good understanding of what the tribe wanted and needed, following consultation with hapu through newsletters and hui.

"In our opinion, the Crown's settlement offer fulfils those wants and needs," he said.

"We are aware that the current political climate is somewhat different from (the one) in which we started these negotiations. For that reason, we believe that it is even more unlikely that a better settlement package could have been negotiated."

Hapu members are being urged to attend one of seven hui to be held over the next two weeks explaining the deed of settlement before the postal ballot. Votes have to be returned before 5pm on November 26.

- DAILY POST (ROTORUA)