Indications yesterday were that the 5-4 preliminary City Council vote in favor of dividing Waimea Valley between the city and New York investor Christian Wolffer would stand as today's final decision.

Council members remained mum on the details of the secret agreement, and it didn't appear that any had changed their minds.

For a growing number of folks, especially those who live on the North Shore, the focus shifted from what the council decides today, to how to stave off development in the valley.

The Stewards of Waimea Valley, an organization that has fought such development for years, plans to pursue every possible avenue to keep the valley intact, said Scott Foster, spokesman for the group. The property is zoned state conservation land, which severely restricts its commercial development.

But Foster was adamant that his group does not favor the proposed agreement.

"There is no reason at this point for the city to settle on this," Foster said. "We all think the City Council has been badly misinformed by the corporation counsel.

"Some of the best attorneys in town have been looking at this. We've discovered a great deal of new information that indicates the actual value of the conservation land is far less than what Wolffer is putting forward."

He said the city's position is strong, and it should go to court to decide the outcome.

Last week John Flicker, president of the Audubon Society, flew to Honolulu to meet with attorneys about Waimea Valley, which the organization manages as one of its national Audubon Centers.

"The wrinkle in all this is that the Audubon Society seems to have an offer floating around out there," said Councilman Charles Djou, who voted in favor of the preliminary agreement.

"I'd like for a white knight to come in," Djou said. "And I know a lot of people are talking about it. The problem: Talk is cheap. Show me the money. That's the bottom line."

The Office of Hawaiian Affairs, which once considered buying the valley, held a committee meeting yesterday regarding Waimea Valley. State representatives have expressed interest in helping the city purchase the valley, possibly through the newly passed Legacy Lands Act.

Last week Fred Trenchard, a spokesman and adviser for Chief Maui Loa, head minister of the Native Hawaiian Church of Hawaii Nei, said the church has backers who are prepared to pay $15 million for the property.

Trenchard said yesterday that for centuries the valley had belonged to Hawaiians and that's the way it will remain should his group prevail.

"We've got the money to do it," he said.

Wolffer acquired the 1,875-acre valley in 1996 when he became principal owner of Attractions Hawai'i, which owned both the valley and Sea Life Park. Wolffer later sold Sea Life Park, but kept the valley, promising to leave it intact.

When he tried to sell it four years later as a private residence, environmental groups argued that the valley is a precious cultural treasure that had been occupied by ancient Hawaiians for hundreds of years.

Much of the valley's lower 300 acres — those that would go to the city under the settlement agreement — have been surveyed and are marked by ancient sites, including burial caves, heiau and fishing shrines.

However, none of the 1,575 acres that would go to Wolffer under the agreement have been surveyed.

The city agreed, and initiated condemnation proceedings. It put $5.1 million, the valley's assessed value, in escrow; Wolffer, who has indicated that he considers the valley to be worth at least $20 million, filed for bankruptcy protection.

North Shore resident Roberts "Bob" Leinau is one of many who believe the valley's archaeological and cultural heritage transcends monetary considerations, particularly if the money is attached to plans of development, which many suspect would happen should Wolffer prevail.

"What they would change would alter Waimea Valley for all of time," Leinau said. "You can't put it back once it's done. That's what's sad to me. There's a bigger value here. This should be about more than just money."

Reach Will Hoover at whoover@honoluluadvertiser.com and Robbie Dingeman at rdingeman@honoluluadvertiser.com.