Caerphilly County Borough Council will vote on Thursday whether or not to transfer 11,000 council houses to a housing association.
The move will spell the end of council homes in Caerphilly County Borough with the aim of pumping millions of pounds into social houses to bring them up to scratch
If councillors agree to the stock transfer, council tenants will have the final say and be balloted on the move.
If the vote is yes, then £116.4 million will be spent over the next 20 years, by whatever housing association takes over, to bring the homes up to the Welsh Housing Quality Standard (WHQS) – a minimum state of repair set by the Welsh Assembly.
If councillors, or tenants even, decide not to transfer the homes then the cash-strapped authority faces the £116.4 million bill to fix them.
Council officers have drawn up alternative plans to raise the cash through borrowing, higher rent charges and potential job cuts at the council.