The Skilled Stadium redevelopment has received funds from the City of Greater Geelong, the Victorian Government and the Federal Government.

As the council owns the stadium and development site, it has made the most recent contribution of $3 million to the next stage of the $40 million project.

The project will involve the construction of a 3700 seat stand between the Reg Hickey Stand and Premiership Stand increasing capacity to 34500.

Features will include police facilities, first aid facilities, improved assembly via linkages between stands, past players’ facilities, a Community Wellness and Education Centre and a TV standard lighting system.

Other contributions included $25 million from the Victorian Government and $10 million from the Federal Government through Regional Development Australia.

City of Greater Geelong Mayor John Mitchell said the football club has a “significant impact” on the city because every game played injects $1 million into the local economy.

City of Greater Geelong manager for sport and recreation Paul Jane said the Geelong Football Club is managing the redevelopment by hiring Coffey Projects as project manager and Waypoint as client representative.

"As a condition of our funding, we will enter into an agreement with the Geelong Cats regarding the operation of the Community and Wellness Centre to optimise community benefits," Mr Mitchell said.

According to Mr Jane, Waypoint is currently assessing tenders for the construction stage of the project.