Gov. Neil Abercrombie is scheduled to put his signature on a historic $200 million settlement between the state and the Office of Hawaiian Affairs on Wednesday.

The ceremony will occur at Washington Place, the former home of Hawaii’s last reigning monarch Queen Liliuokalani.

The settlement transfers roughly 30 acres of prime waterfront real estate in Kakaako Makai to OHA. In return, OHA will waive all claims to past due ceded lands payments. By law, OHA should receive a share of the revenue generated on lands formerly owned by the Hawaiian monarchy.

Prior to this settlement, however, the state and OHA have been unable to reach agreement on a fair amount. The settlement will resolve all ceded lands claims from 1978 through the end of June.