When all the contractor bills are paid, the borough will have ended up spending more than double what it expects to receive from selling 20 residential lots at the Alder Top Village (Keishangita.’aan) subdivision upland from Shoemaker Bay.

But making money from the public land sale is not the point of the effort. Moving land into private ownership, making land available for new homes and putting the lots on the property tax rolls — those are the goals.

Borough officials and the assembly have been working toward the sale for several years, figuring out how to structure the bidding, whether to offer financing, whether to impose any requirements on the new owners. After several public meetings and opinion surveys and hard decisions, the assembly settled on the online auction that closes Monday, Dec. 1.

Of course, City Hall hopes to sell all 20 lots. The assembly hopes that all 20 new property owners build homes and live happily ever after. It will take years for that complete of a happy ending, lining up construction financing and available contractors, or finding the time and money for people who want to build their own home.

Whichever way the homes are built, the subdivision is a long-term investment in the community. The assembly made the right decision to proceed with sinking the money — literally — into underground utilities, streets and site prep.

Wrangell needs more housing, and it needs buildable lots for that housing. The first phase of 20 lots may not sound like a lot in a big city, but 20 new homes in Wrangell over the next several years would be a lot for the small city.

The sale also will test the belief that there is strong demand for residential building lots. If too many of the parcels remain unsold after the auction, the assembly would be wise to hold back on any plans for a second phase of development at the property.

Demand needs to match supply. The Dec. 1 auction close will be a good gauge of demand and what the market will pay for that supply. It will be an educational lesson, in addition to being good for the community.