Let’s look before we leap.

An obviously irritated Councilwoman Sarah Blossom lashed out at some of her council colleagues — and the community — at this week’s city council meeting for their reluctance in giving an immediate approval to an agreement with Olympic Property Group for the firm to manage the development of the city’s Suzuki property.

The council is currently considering a development management agreement with Olympic, which would put the city in the land development business in the hopes that affordable housing can be built on the 13.83-acre property at New Brooklyn and Sportsman Club roads.

Olympic, according to the proposed agreement, would install infrastructure, utility lines and finish other site work to get the land ready for home builders, and the cost of that work has been estimated to be more than $4.2 million.

The city, according to the agreement, would eventually repay Olympic the $4.2 million — plus 18 percent of the project costs (estimated at $647,826) — once lots on the land are sold.

Some in the community, however, asked the city council to delay a decision on the proposed agreement until the new council takes over in January.

Blossom, however, was ready Tuesday to take a leap of faith and OK the agreement.

We can understand Blossom’s impatience. Affordable housing has long been a critical issue for Bainbridge Island, and the escalating cost of housing here due to the red hot Seattle market is pricing many people out of the chance to live on the island.

But let’s not jump to what might be a calamitous conclusion.

Olympic’s estimates for development of the project have not been properly vetted yet. The budget for Suzuki’s site development was only presented to the city in the past week, and those figures deserve a thorough review by not only the city, but the public.

It’s also unclear if the city council has gotten an adequate briefing on the latest version of the agreement by the city’s legal advisors, and we agree with Councilman Mike Scott that even that is not enough; Scott has sensibly suggested hiring an outside attorney who specializes in real estate law to give the contract a careful examination.

“I’m tired of wasting time,” Blossom said Tuesday of additional delay on the Suzuki proposal.

Wrong. Due diligence is not a waste of time. And while we agree with Blossom that this is Bainbridge’s best and biggest shot at creating affordable housing, the city should take the time to get it right.