Six council-owned residential care homes are set to be sold to a private firm for £1.9m
Nottinghamshire County Council said it would reinvest the money from Runwood Homes, into care for older people.
A 2,500-name petition opposing the sale was sent to the council after the proposals were first announced in July.
Opposition Liberal Democrat county councillor Stan Heptinstall said the sale would not generate enough income to build extra care facilities.
The homes affected are Bramwell Care Home, Bramcote; Braywood Gardens Care Home, Carlton; Jubilee Court Care Home, Sutton-in-Ashfield; Leawood Manor Residential Home, West Bridgford; Maun View, Mansfield; and Westwood, Worksop.
The proposal will be considered at a council meeting on 22 September. If the recommendations are agreed, the sale and transfer could be completed in January.
The Conservative-run council said Runwood has agreed to invest £3m in the homes in the next five years.
Residents will continue to pay the same fees and all staff will be retained, the council added.
The council said it would save an estimated £900,000 a year in running costs if the proposals are approved.
Mr Heptinstall said: "I expected at the very least the income generation from the homes to be massive."
The council's director for adult care David Pearson said Runwood Homes would invest in improving the quality of buildings and maintain their assets.
He added that the council had carried out rigorous checks into the financial stability of the company in light of the problems which affected Southern Cross care homes.
Runwood Homes runs 47 care facilities and employs 2,000 staff in the UK.