Skydive the Beach bosses say they are confused, frustrated and disappointed at Wollongong City Council's push to open the lease of Stuart Park to a public process, as they had been led to believe they were in direct negotiations with the organisation.
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The skydiving company's chief executive Anthony Boucaut and chief financial officer Anthony Ritter said their company had spent $170,000 on planning their new headquarters.
"We have been working under the understanding that we have direct negotiation with the council," Mr Boucaut said.
"If we knew this could be taken off the table we never would have invested that money, and we probably would have curtailed some of our spending on tourism in the Illawarra.
"When you put more than a decade-and-a-half of your life into a city, where originally people said adventure tourism would never flourish, and you prove them wrong and help re-image the city, then I don't think this is fair."
The two men said they had written advice from the NSW government in 2011 to say this type of negotiation was allowed.
"We're hopeful that this direct negotiation will be able to continue, which is one of the three options put forward in the council papers," Mr Ritter said.
"We believe in the process, that we've been completely upfront, transparent and probity has been maintained.
"We're willing to pay fair market rent, based on expert opinion, and will get an independent valuation for the lease."
He said the company was paying market value, which was in line with Wollongong CBD rents, for the lease of its cottage headquarters, and believed the cost of the landing licences were in line with the amount paid by other commercial activities, like fitness training.
Despite their reservations, the pair said the company would lodge a proposal with the council if councillors chose to open the park lease up to the public, but believed their recent float on the stock market would place them at a commercial disadvantage.
"We have a public document which shows our current lease terms, so we'll be significantly disadvantaged," Mr Ritter said.
Mr Boucaut said he was committed to Wollongong and would like his headquarters to stay in the region.
"Our families are here, our kids go to school here and we have obligations to 70-plus staff here," he said.
