Wodonga Council has put on hold a planned sale of land near the former Bandiana saleyards site pending further negotiations with the preferred purchaser.
The council has instructed chief executive officer Mark Dixon to enter into further talks with Repus Funds whose offer of $1.6 million for the 36.8 hectares of industrial zoned land was supported by an evaluation panel made up of senior staff.
But rather than accept the staff recommendation to begin the public notification of the proposed sale to Repus Funds the council went behind closed doors of the special meeting on Monday to re-visit the matter.
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There were four submissions lodged with council following an expressions process for sale of the land with Kiewa Valley Highway access and neighbours the Rocla concrete pipe plant.
The revised resolution for further negotiations was moved by Cr Brian Mitchell and seconded by Cr Kat Bennett.
"I want to absolutely reiterate to our public that this final decision post negotiation will come back before council and that amount will be known to the public," mayor Anna Speedie explained after council returned from its confidential talks.
"We are selling community and public land, therefore it needs to be an open and transparent process.
"Hence why the clunky nature of today's meeting."
The evaluation panel concluded the Repus Funds bid was a "well-articulated submission with a realistic project plan. Submission indicates commitment to a high amenity precinct and developer has a proven track record working with Vaughan Construction in industrial development in Melbourne."