Residents in Hodge Lea are hopeful a deal could be reached which will see their meeting place sold back to the town council for £1.
However, Crown Estates is still proposing Wolverton and Greenleys Town Council pay legal costs of around £2,500 on top of that.
Ward councillor for Wolverton, Councillor Robert Middleton, who has been campaigning to get the meeting place back under local control, said: “I welcome the reduced offer but I still have reservations on the legal fees for a hard pressed council.
“I would still like them to go furtherand we will be discussing our options at the next town council meeting.”
MP for Milton Keynes North, Mark Lancaster, wrote to Crown Estates solicitors asking them to reconsider the amount.
He said: “I know that Wolverton and Greenleys Town Council has been working very hard to secure the meeting place’s future and am delighted common sense finally seems to have prevailed.”
A town council spokesman said: “We appreciate Rob and Mark’s help on this.”
Crown Estates had assumed control of the meeting place when Hodge Lea Residents’ Association went bankrupt.