The preferred bidders for a parcel of industrial land in Bandiana have agreed to pay extra for the 36.8 hectare block.
But council has advertised the company has agreed to pay $1,725,000 subject to a public exhibition process of its intention to sell the land located behind the former saleyards site and near the Rocla concrete plant with access from the Kiewa Valley Highway.
"The expression of interest process determines market interest in a land parcel and allows the council to consider the timely development of the site, financial return and the capacity of the proponent before proceeding to the legislated process to divest the land to an identified purchaser," Wodonga Council chief executive Mark Dixon said.
"Following the receiving and consideration of submissions, the council undertook further negotiations with the preferred proponent, Repus, to align a final purchase price with the valuation and gain the best possible outcome for our community.
"The land is industrial-zoned and previously used for grazing, remediation was not required prior to sale."
There were four submissions lodged with council following an expressions process for sale of the land.
Mayor Anna Speedie acknowledged the "clunky" nature of negotiations last week.