QLDC community services general manager Paul Wilson has recommended in a lengthy report to the council that the council work with Willowridge Developments Ltd and Ballantyne Investments Ltd to reach an agreement on land that might become available for reserves in the future.
The draft agreement aims to minimise risks associated with uncertain outcomes and time-frames and would require council approval.
It would address planning processes, development contributions and the establishment of infrastructure and timing.
Willowridge Developments Ltd is associated with Allan Dippie and owns the Three Parks development proposal for land between Ballantyne Rd, Riverbank Rd and the Luggate-Wanaka Highway.
Ballantyne Investments Ltd's directors are William Haig and Neil Matchett.
The company owns bare land at 33 Ballantyne Rd, including a former tannery site.
Also being presented to the council today are three design options for sports facilities in the greenfields triangle and another three design options for the facilities on the central Wanaka showgrounds reserve.
The presentation includes a physical model of what the showgrounds site would look like if it was developed.
The council has been considering where to locate a new sports fields and stadium since 2008.
The debate about an aquatic centre has been going on for much longer.
After consulting the public, a working party had recommended the showgrounds site as its preferred option for co-located facilities.
Following strong ratepayer support for greenfields in annual plan submissions, the council in March agreed to look at greenfields sites that had not previously been investigated, but it has not abandoned the showgrounds proposal.
The Upper Clutha Rugby Club, Upper Clutha A&P Society and camping ground supporters have raised several concerns with development at the showgrounds.
The most significant drawback with the greenfields is the council needs to buy land, although Mr Wilson's report notes the council is likely to hold sufficient funds from reserve land contributions to buy about 6ha.
He also notes reserve land development contributions normally vest in the council after a development is completed and because the greenfields developments might not be completed for many years, it is not clear when any land might become available for sports fields.
Willowridge has indicated it may consider "banking" the required land in advance and drawing down on this as development progresses.
The three greenfields design options all include an indoor sports complex, aquatic centre, minimum of 276 car parks, a full-sized artificial hockey turf and at least eight outside netball courts.
The three showgrounds options include an indoor sports complex, aquatic centre, two full-sized rugby fields, permanent and temporary fencing, retention of existing buildings, a reducing camping ground operation, and about 300 car parks.