The land includes half of the circular car park at Inveresk, the site of the National Automobile Museum and the old station building.

The five sites are in addition to the titles for the old velodrome site and the Willis Street car park, which were transferred in October, 2016.

This will be done in exchange for the University funding the fixed cost for the construction and land associated with the National Automobile Museum Tasmania relocation to a purpose-built facility costing $4.77 million.

“As the full extent of the $260 million multi-faceted University Inner City Campus has continued to be developed by the university in conjunction with other stakeholders, further land parcels have been identified as integral to the development of the university and the community-faceted facility at Inveresk,” the council agenda said.

“It is understood that in-principle agreement has been reached between the university, NAMT and a private developer [Errol Stewart] to relocate NAMT to a purpose-built new facility in Lindsay Street opposite North Bank and the silos.”

The assessed value of the land to be transferred by the council totals $3.565 million.

At the Willis Street and NAMT site the university has proposed the establishment of a science and innovation-focussed hub

The vision also includes the construction of the new pedestrian and cycling bridge linking the Willis Street site to the Inveresk Precinct.

“The project will have a massive estimated $1.1 billion economic direct and indirect output through the construction phase,” the council agenda said.

“Additionally, there will be an estimated $428 million in annual ongoing economic impact from the Inner City Campus project.”

While the council will vote on Monday, Alderman Danny Gibson has already voiced his disapproval at some aspects of the plan.

He said the National Automobile Museum's move to a dead end street was perplexing and he was not convinced the exchange was the best deal for ratepayers and residents.

“I find it ludicrous that we would not have more integration and enhance the public access elements on the Inveresk site with the Automobile Museum,” Ald Gibson said.

“Moreover that we could not actually get a decent amount of cash for the city out of the transfer, rather than it all going to a site that needs more than a million dollars spent for piling.

“It's all well and good that the volunteer board are happy but at the end of the day, it's the City's asset.”

Ald Gibson said he felt let down by no mention of integration of access to QVMAG in the asset exchange.

“Council has not even completed the long awaited parking study and here we are ‘giving away’ half the round circle car park,” he said.

“Even as recently as Tuesday, I met with senior UTAS transformation staff and while conversations were productive, and resulted in an additional clause in Monday’s recommendation regarding development of an easement or MOU, I feel very sad that enhanced public access to our museum is not even referenced.

“The needs of a convention centre, a restaurant, three museum collections, all amidst a deal that sees half their car park gone, have not been referenced.”

Mayor Albert van Zetten the matter must be discussed with consideration of the significant economic and social contribution the campus move would have on the city.

“I appreciate that each alderman can have their opinion and that’s what it’s all about at council, so on Monday I am anticipating a good discussion and debate,” he said.

“The board at the automobile museum are very excited about the proposal and I don’t think it’s up to me to argue with them. I am happy to accept their expertise and experience.”

Deputy Mayor Rob Soward said he had a number of questions to ask at Monday’s meeting but admitted he was an apology at the final workshop when the council discussed the land transfer.

“I need to tease out some of the nitty gritty about it because I do have some concerns, we need to be very, very careful with public land,” he said.

“You only get one shot at it so you have to be very mindful about what you do.”

Launceston Chamber of Commerce executive officer Neil Grose said the success of the UTAS relocation was reliant on the land to be transferred by the council.

“The long term social and economic benefits of the university relocation to Inveresk far outweigh any concerns over the dollar value of the land transfer,” he said.

“This is a structured approach aimed at ensuring the new university precinct is built for purpose and can meet the educational needs of students for many decades to come.”

Mr Grose urged the council to endorse the transfer and allow UTAS to progress its planning process.

“The University is clearly supportive of continued access to the QVMAG at Inveresk and this has been articulated many times.

“Furthermore, the relocation of the National Automobile Museum to the Silo’s is viewed by the Chamber as a very positive move. Having such a nationally recognised museum in the heart of the new precinct on the north bank of the North Esk River is incredibly positive.”