Stage four of the Simonds Stadium redevelopment is on track to commence this year after the City of Greater Geelong agreed to an amended $6 million contribution to the project.
The council voted last week to support the project, but a number of conditions attached to the funding were unacceptable. The council met again on Tuesday night and addressed those issues to ensure the redevelopment will go ahead in 2016.
The council's contribution comes in addition to a $75 million commitment from the state government, $4 million from the Geelong Football Club and $4 million from the AFL.
"This is a significant and positive decision by the council that will bring a significant economic and social benefit to the region," Geelong CEO Brian Cook said.
"The councillors have shown great leadership in working to ensure that this redevelopment can go ahead without delay. It's an exciting day for the club and for the city."
The redevelopment will include new facilities in the place currently occupied by the Brownlow and Jennings stands. Capacity of the stadium will increase to 36,000 and will also feature new football department, community, media, member, public and social club facilities.