The campus covers around 32 acres in the 2800 block of Eastern Ave.
The city would sell the southern portion to AW Holdings, led by Capitol Theatre owners Jim Bergman and Chris Ales, for one dollar.
The site currently holds the Davenport Junior Theatre.
Ales plans to turn some of the buildings into nearly 100 affordable rental units. The plan does not include demolishing any of the buildings.
He would have one year to secure funding, or else the agreement expires. The property would also need to be rezoned.
If the resolution passes, the council will hold a public hearing next month.
