Shellharbour Mayor Marianne Saliba is confident there will be "a good outcome" from the proposed sale of the council's 42-hectare residential site at Tullimbar.
The site, which sits between the western edge of Albion Park and Tullimbar Village, has development approval for 284 housing lots and three super lots, with CBRE Real Estate starting an expression of interest campaign last September.
On Tuesday night Shellharbour City Council held a confidential extraordinary meeting to discuss the sale. "Basically councillors were briefed on where we are up to," Cr Saliba said.
"I am quite confident it will be a good outcome ... the process is moving along nicely and the council's and the community's interests are being served by this process."
The council hopes to make $35 million from the sale of five properties, money set aside for $57 million City Hub project.
Other properties earmarked for sale include the council's administration building, known as Lamerton House, and the parcel of land beside it known as Lot 3000.
Also for sale is the former council chambers and administration centre in Warilla, with adjoining land containing the Warilla Library and peace grove also for sale. Last year Shellharbour councillors agreed to sell 1.38 hectares of council land on Pioneer Drive to Transport for NSW for $1.58 million.
The funds will go towards the hub project, with the land being used for the new 230-space Oak Flats commuter car park.