The EOI must be submitted by 4pm today.

Port Macquarie-Hastings Council passed the motion that an expression of interest be sent to the state government asking for the land to be sold to them for $1. Once acquired, the land will be developed to include car parking, shops, restaurants, public amenities and parks.

Criticism was levelled at Port Macquarie MP Leslie Williams, who councillors said should have had greater involvement in preparing the EOI.

But Mrs Williams, who did not attend Wednesday's meeting, said it would have been inappropriate for her to participate in the process.

Adam Roberts and Sharon Griffiths were the only councillors to oppose the motion which was put forward by mayor Peter Besseling and seconded by Rob Turner.

Ms Griffiths said the project had the potential to tie up ratepayer funds, while Mr Roberts said there was no value for money in buying the land.

But the five other councillors argued not making the expression of interest would be a lost opportunity for the community.

They were all scathing of the state government's expression of interest process, which has been significantly shorter than they believed reasonable.

Mrs Williams yesterday pointed to a letter from Mr Besseling to the Minister for Natural Resources, Lands and Water on July 25 last year.

The mayor wrote the council 'confirms its intention to provide an alternative proposal and... enter into negotiations with the NSW Government for the purchase of the abovementioned site'.

A council media release three days later stated the organisation 'will take the Minister for Lands up on his offer to put forward a proposal for the purchase of the Short Street/Plaza car park'.

Funding the project was one of the hottest topics at Wednesday's meeting.

General manager Craig Swift-McNair said council's contribution to the development could be a combination of S94 developer contributions, borrowings and/or reserve funds.

He also said "significant income" was expected to come from "a number of opportunities to raise revenue to assist in offsetting the initial and ongoing expenditure with commercial businesses such as bars, cafes and restaurants along with a residential component".

But in response to a question from Ms Griffiths about whether public private partnerships and joint ventures had been negotiated, the general manager said there were no commercial parties yet.

Parking was on the minds of many in the audience, who audibly gave support when Ms Griffiths queried how council would create 230 car spaces where Woolworths proposed 204.

But Matt Rogers, council's director environment and planning, explained it would need a reconfiguration of the space.

ben.cooper@fairfaxmedia.com.au