Kiama Council will use a competitive and open tender process to sell its Akuna Street landholdings.
Councillors this week resolved to begin the process of disposing of the landholdings by engaging a commercial agent to handle the tender.
A tender is required to sell Council property under the Local Government Act.
“This will allow for due diligence, probity and conflicts of interest to be appropriately managed. Council will also engage a probity lawyer to provide oversight,” Council said in a statement.
The final sale agreement will need to be submitted to Council for approval, it said.
“A tender will also provide Council, on behalf of our community, with the best financial return from any sale.”
“Future use of the land will be subject to the normal local and state government planning processes, and will be independent and unrelated to the sale.”
“Council acknowledges and thanks those parties that have expressed an interest in acquiring the Akuna Street properties and encourages them to participate in the tender when it commences.”
