The Almshouses were commissioned in 1702 and acted as a form of low-cost community housing up until the 1960s.
The Almshouses, at Great Linford, are a Grade II listed building and a site of national interest to Historic England.
They were commissioned by Sir William Pritchard in around 1702, with the central building being used as a schoolhouse.
Since remaining vacant, the buildings have fallen into disrepair.
Maintenance for the buildings is costly, with an initial survey suggesting that the necessary structural renovation will top £1.3m.
The Council believes the best decision is to transfer the lease of the Almshouses to The Parks Trust so that the repairs can take place.
Councillor Rob Middleton, Labour Progressive Alliance Cabinet Member for Resources, will take the decision at tonight’s Delegated Decisions meeting.
Cllr Middleton said: “The Parks Trust is currently regenerating Linford Manor Park and has a true interest in highlighting its historic significance.
“By creating a long 999-year lease, we can ensure that the Almshouses are restored and used by generations to come.”
The Parks Trust plans to let out the schoolhouse as a residential property and three of the Almshouses as commercial office spaces.