The council purchased the hotel in the 2000 Sydney Olympics year for $30,000 after locals lobbied the shire to keep the pub open with a community hotel licence.

More than 20 years later, Brocklesby Community Inc, which consists of three townspeople who run the hotel, have been reviewing its long term future in the face of declining patronage.

It sought a commitment from council that if the property was sold the money would stay in the Brocklesby community.

The council backed the move, but Cr Tony Quinn said the community hotel licence was a valuable asset that would be hard to get back if relinquished.

He said it could be easily transferred to another organisation.

"I don't think there would be any problem," he said.

"It's only that the footy clubs combined would have to adhere to certain conditions that in modern days they might not like."

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Cr Quinn believed it would be worthwhile moving the licence to a new venue, such as the Brocklesby Recreation Reserve so as not to lose the asset.

But, he noted the pub building was also valuable if sold.

"The building's enhanced in value," he said.

"It will be a big funding input into Brocklesby, but that licence is worth quite a lot."

Cr Annette Schilg said it was sad the pub was not what it used to be and the community was facing this predicament.

"It's become a sad state of affairs for the community," she said.

General manager Steve Pinnuck said the community had not decided what it wanted, but was waiting to hear council's position before further discussion.

"There's certainly no agreement," he said.

"They could get a multi-function licence, which is a little onerous."

The motion was motion was moved by Cr Jenny O'Neil and seconded by Cr Schilg.

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