Wodonga Council staff have outlined their reasons for accepting a cheaper offer for a block of industrial land behind the former saleyards site in Bandiana.
Councillors have been presented with a recommendation to proceed with the sale of the land to Repus Funds even though $285,000 more could go into council coffers from a rival bid.
The clincher for staff, outlined in the agenda for Monday night's meeting, was, in part, "a good financial outcome for the community" and Repus has plans for a timely development of the site.
Repus plans to pay $1.725 million for the site, but under a revised offer JMP Developments was prepared to pay $2.01 million.
It has also been revealed there were four bidders for the land via an expressions of interest process with Repus asked to up its price from an initial offer.
Timely development of the site was a high priority for council in this instance.
"Whilst sale price is an important factor it isn't always the deciding factor," the staff report says.
"Speed to development in order to create jobs and deliver commercial rate revenue is arguably more important in the longer term.
We do not wish for prime industrial land to be sold but not subsequently developed.
"The intention is that potential buyers have only one chance to secure the property with an EOI sale to be assured they are putting their best offer in. It is for this reason that it is not common practice of the council to enter into second round offers in an expression of interest process."
The report also reveals details of Repus Funds' plans for the site including a 59-lot industrial subdivision.
"The vision and plan provided by Repus Funds Pty Ltd provides for a development that will bring in rate revenue as well as provide jobs for local construction and servicing authorities, attract local, regional and national businesses and provide job opportunities that support the Leneva Baranduda future growth," the report said.
"In a period of economic uncertainty and job losses due to COVID19, this local activity would be a positive contribution to the business community."
Rates will become payable from settlement and once sold, the land will change from non-rateable to industrial vacant.
The report states JMP submission didn't have concrete plans for the site.
"One thing we won't do is allow any sort of tenancy that is in anyway going to compromise adjacent residential development," he said.
JMP Developments has developed the nearby Riverside Estate in Killara.
Estate residents have been long-time critics of the Immix recycling plant which has been built on the former saleyards site.