A section of a former cement works is likely to be sold to Durham County Council for just UK£1 (EUR1.1) as part of a plans for an ambitious "eco-village" project.
Outline permission for Eastgate’s "thermal spa" complex has been granted.
Current owners Lafarge and the county council are members of the Weardale Taskforce, which is behind the plans.
The council’s cabinet will be asked to approve the transfer of ownership, which requires the nominal sum of £1 to be legally binding, on Wednesday.
In addition to the spa, which will be heated by underground springs, the plans also include homes and a hotel.
It is hoped the project will create about 150 new business investment jobs and a further 200 within the visitor and hospitality sector.
The Weardale Taskforce has said the eco-village, which will cover an area equivalent to the size of 500 football pitches, is set to feature all five forms of land-based renewable energy available in the UK - hydro, solar, wind, biomass and geothermal.
The £1 sale will transfer ownership of a 26-hectare (64 acre) site at the disused Lafarge works.