A special town council meeting is to take place in Fakenham on Wednesday night after plans to sell one of its car parks for housing were outlined.
North Norfolk District Council officials have recommended selling the Highfield Road car park, so a scheme to build flats for people aged 55 and over can proceed.
A report to the authority’s cabinet, which will consider the scheme next Monday, said developing the site itself would pose a “significant risk” to the council.
It added: “Officers therefore believe that it would probably be in the council’s best interest to advertise the site for redevelopment by a specialist housing provider.
“Interest has previously been expressed in the site by such a company and there is therefore a degree of confidence that commercial developer interest would be shown if the council was to advertise the site for disposal.”
Details of the scheme emerged yesterday as the district council also announced plans to freeze its portion of council tax for a seventh successive year.
Its deputy leader, Judy Oliver, said: “We have a duty to all our taxpayers to maximise the value of our assets so we can address our future funding gap, whilst still keeping council tax as low as possible.
“In making our assets work harder, we will also use their value to try to achieve other benefits for our communities such as more housing, greater economic growth and more facilities for residents and visitors.
“We recognise that commercialising our assets will mean development and change.
“We will be listening closely to the views of town and parish councils, community groups and residents as we consider the various options, so we can work together to achieve these vital objectives.”
The extraordinary town council meeting will take place at Fakenham Connect, in Oak Street, starting at 7pm on Wednesday.