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A business plan to get Manston flying again will be drawn up by Thanet council.
The council also aims to determine the viability of continued commercial flight at Manson with a market-testing exercise.
The resulting report will be shared with the airport's owner Ann Gloag.
The decisions were made at a cabinet meeting this evening.
The council considered the conclusions of an independent report by a company called Falconry Consultancy, regarding the airport's future.
The council said a business plan is needed for any future partners who may be interested in investing in Manston.
Earlier this week American investment company RiverOak, which tried to buy the airport from owner Ann Gloag, put forward a detailed plan to work with the council as its partner in a Compulsory Purchase Order to acquire the Manston site.
But in a statement this evening the council said a decision regarding compulsory purchase will not be made until an indemnity partner is identified following the procurement process.
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