Published: Jun 05, 2013 10:00 AM EDT
Updated: Jun 05, 2013 11:19 PM EDT

NAPLES, Fla - It's your money and Wednesday Naples City leaders will decide whether or not to spend $3 million on waterfront property. The 6.7 acres of land sits right along the Gordon River.

The land will either become a housing development or property of the city. If council does decide to pay the $3 million price tag, then the big question is, what will they use it for?

The available waterfront property is a rarity and what to do with it is at the center of controversy. "There are two sides of the issue, pulbic or private," says Naples resident Stanley Fogg, Sr. "For me, I've always thought the private industry does a better job than public."

The city already owns eight acres along the river. Now, council has the opportunity to buy the land right next door for $3 million. If they decide to pass on it the land will be sold to a developer.

"$3 million dollars is a lot to spend, but If I had my wishes I'd rather see it stay as a park area than more residential area," says Naples resident Sara Giese.

Councilman Sam Saad says he's willing to spend the $3 million, but only if council can guarantee they will turn the land into a park and not a parking lot. "My concern is that we will exercise our right, spend the $3 million and not do anything else and this will become a defacto parking lot and that will be an absolute shame."

It's a $3 million decision and the council has just one shot to make it before the land turns into a residential development.