A £14.23 million community stadium is financially viable and should get the go-ahead, a report states.
Colchester Council and the cabinet will be debating on Monday whether to go ahead with the stadium, and allow a loan to cover costs. The stadium would become the new home for Colchester United, as well as offering a range of community facilities, and could be open by February or March 2008.
If the council agrees to the project, a loan of £10.23 million will be required. The report sets out a number of risks which remain, but the financial officer states the risks were deemed to be manageable and "the development of the Community Stadium could be supported on financial grounds".
It also notes 30,000 people have signed a petition calling for the stadium - organised by the Evening Gazette and the Colchester Community Stadium Action Group (CCSAG).
- Watch a promotional video made by CCSAG here
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