Ramsey commissioners are welcoming interest in the town's former swimming pool.
Four interested parties have been invited to present their business cases at a special meeting of the local authority later this month.
The facility, which occupies a prime site overlooking the coast on Queens Promenade, closed last December.
Two parties have already made their plans public, with one looking to create a tenpin bowling and leisure amenity, and the other to convert the building into a marine life centre.
Board chairman Sylvia Beattie says members are encouraged by the fact the overriding theme of the proposals is to incorporate some kind of community facility.
She says any scheme must be suitable for the location, as well as sustainable in the long-term so there is no undue financial burden imposed on Ramsey ratepayers.