Orange City Council has agreed to investigate how it could raise the $5 million shortfall needed to achieve the $20 million cost for the Northcourt buildings.

While council will look at its financial reserves and borrowing the money it will also look to sell off assets to boost its coffers.

Mayor Cr Reg Kidd said the asset sale would not be tied to the conservatorium/planetarium project but instead could inject funds into the council's accounts.

Funding the $5 million will be included in the council's 2021-22 budget planning process.

Cr Kidd told Tuesday night's council meeting the council had many redundant assets.

"We recognise we have nearly $16-$17 million of redundant assets that we could look at," he said.

"An example [is] the Eade's [family] house in Woodward Street. We've got a house there, with the present market in Orange, it would be worth $1.2-$1.3 million.

"It's been sitting there like that with no one in it for 12 months and now we get rental." Cr Kidd said council would be better to sell it. "It's a beautiful old home," he said.

A list supplied the council shows other property assets it is selling include 1, 3 and 5 Lady Peel Close, 33 Astill Drive and 110 Morris Lane, Huntley.

Land due to come up for sale includes proposed industrial subdivisions at 298 Clergate Road, the former saleyards site on Edwards Street, part of 38 Astill Drive, 4616 Mitchell Highway, Lucknow, 1 Summer Street, 160 Woodward Street and part of 94 Woodward Street.

Cr Russell Turner told the council meeting he would continue to ask the state government for the missing $5 million.

The federal government has provided $10 million while council will provide $5 million from its reserves and through the sale of the current Conservatorium of Music site in Hill Street.

"I have met with [Nationals leader] John Barilaro on a number of occasions. I have spoken to and met with Don Harwin, who is the arts minister. I am actually meeting with Barilaro again next week in Cowra," he said.

Cr Turner said it would be unique to have the conservatorium and planetarium together.

"It's not everyone's cup of tea but will be an enormous boost for tourism," he said.

Cr Tony Mileto called on council to use $5 million from its restricted funds account.

"We're shovel ready, let's do it," he said.

Cr Stephen Nugent suggested using part of the $25 million allocated for the sports complex.

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