Epsom & Ewell Borough Council has given community groups until the end of June 2016 to submit fully costed plans for Horton Chapel.
The chapel has stood vacant for many years, and its ownership was transferred to the council – along with a parcel of land – in 2004 on condition that it was to be used for the benefit of the community.
Several plans have previously been devised for the chapel, but none have them have developed beyond the planning stage.
The council now wants to give community groups a final chance to develop sustainable plans. If none is successful, commercial bids might be sought.