Wodonga councillor Libby Hall says ratepayers are entitled to feel short-changed on the sale of industrial land in Bandiana.
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The offer from Repus was moved and seconded by deputy mayor Brian Mitchell and Cr Kat Bennett, but Cr Hall raised concerns about fairness and equity in the sale process including the sale price being under valuation.
"There are some things around this sale that don't sit right with me," she said.
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"Council's intention was to give potential buyers one opportunity to put their best offer forward.
"But one buyer (Repus) had the opportunity to do it twice.
"The highest bidder had plans to occupy some of the site themselves and expand their business in Wodonga.
"It is my opinion the council does have an obligation to the ratepayers to get the best price.
"It is my view all four (bidders) should have been given a second opportunity to resubmit or revise their offer as none of the first round offers reached the valuation price."
Cr Danny Lowe said the best community outcome wasn't always the highest monetary offer.
"We have an offer on the table that has a clear strategic plan for the land," he said.
"While the settlement terms are delayed more than the other offer (from JMP) at least we know what the outcome will be.
"We know the plan, we know where it is heading.
"While the sale price itself won't be as high, the actual outcome for the community will be far greater."