A £4 MILLION cash boost could be on the cards for Petersfield Town Council as its controversial Penns Field housing development site goes forward to the next stage of East Hampshire District CouncilÕs local plan.

The district councilÕs development policy panel set aside three evenings this week to discuss comments on the second deposit of the latest local plan, which earmarks land throughout the district for development.

The panel was set to meet on Wednesday, Thursday and tonight to discuss representations made earlier this year.

The controversial Petersfield Town Council-owned site at Penns Field remains on the baseline housing development list and is still earmarked for 90 homes.

There are no changes to housing allocations in Petersfield and it is still the only major housing development on the ÔbaselineÕ list in the town.

But town councillors will have to wait for the government inspectorÕs report after the public inquiry next year to ensure the site is still earmarked for housing. The local plan is not due to be adopted until 2005.

Town councillors signed the biggest-ever deal in the councilÕs 26-year history in February last year when they agreed an option to sell to housing developer Kebbell Homes which was believed to be worth around £250,000 to the town.

Kebbell was given a five-year option on the land with a further option for an additional five years.

If the land is finally sold to Kebbell for housing it could bring an estimated £4m windfall to the town council.