Update Tuesday, 4pm: PAGE MP Kevin Hogan said it was unprecedented for him to step into a local government's decision, but this was one he just could not let go.
"This decision from the local government I've waded into because I think it's a really bad decision," Mr Hogan said.
"I think it is basically saying to investors 'go away' and that isn't good for the vibrancy of our region."
Lismore Chamber of Commerce president Deb Benhayon said the proposal was not about pitting the Square against the CBD but rather looking at what is needed for the whole of Lismore.
"What is really important is that within this process is that everybody is able to see what the potential of opportunities are," Ms Benhayon said.
"If such an investment does come in how does (the CBD) then leverage off that?"
"If doesn't then we need to be looking at and saying to the council what else is your recommendation to actually grow and support economic development in Lismore."
Ms Benhayon said whether for or against the council needs to give the community the opportunity to express their voice.
Original story: A PETITION with almost 2000 was presented to the Lismore City Council today, urging them to reconsider their decision to reject a $90 million investment in Lismore Square.
Page MP Kevin Hogan delivered the petition and said: "On behalf of those who have supported this petition, I call on Lismore City Council to sign the non-binding Memorandum of Understanding (MOU) with McConaghy's."
"The community has made it clear they want this $90 million investment in their city.
"The response to this petition has been extraordinary. People have been calling my office and stopping me in the street to say that this investment has to go ahead.
"They believe, as I do, that for Lismore to retain its status as a regional capital, we need to accept and encourage investments like the $90 million expansion of the Lismore Shopping Square."
Lismore MP Thomas George said: "It is great to see so many locals get behind this petition in such a short time".
"I strongly encourage Council to reconsider the proposal of an MOU and invite discussions with McConaghy Properties."
The council will hold their ordinary meeting tonight.