It is understood they will asked to consider the sports facility as part of the Council's budget considerations for 2015/16.
Next week, a report will go before the Corporate Policy and Strategy Committee which will outline the potential costs and scoping for a replacement for the venue. They will be asked to refer the proposals for a new facility and stadium as part of the Council's upcoming budget.
The funding options and architectural design concepts for replacing the 50-year-old Meadowbank has been developed with the relevant governing bodies of sport. If approved, the plans would see the existing site transformed into a brand new sports centre that would not only serve the local community, but the city as a whole, as well as the east of Scotland.
It has been estimated that the cost of the project would be £43m and this would be achieved via funding from SportScotland (between £5m and £7m); revenue savings to the Council from closing the facilities during construction; prudential borrowing based on forecasts for net income; and from the sale of surplus land at Meadowbank. As a result, this would leave the council to find between £11.3m and £19.8m of funding.
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The new facilities at Meadowbank would include an outdoor athletics track with seating for 500 people, an indoor 60m six-lane athletics track with jumps area, an outdoor throws area and a 3G synthetic sports pitch or grass pitch. There would also be an additional outdoor 3G synthetic sports pitch, an eight badminton court sports hall with 500 permanent seats plus bleachers and a four badminton court sports hall with 500 permanent seats, as well as a gymnastics hall, gym, studios, changing facilities, café and meeting rooms.
Councillor Richard Lewis, Culture and Sport Convener for the City of Edinburgh Council, said: "The feasibility study requested by the Council in February 2014 has now been completed and before progressing further, a decision from Council is required as to whether it can meet the £11.3mm to £19.8m funding shortfall currently projected.
"Over half a million users visit Meadowbank every year and it is a much-loved city sports facility, but we will need to consider how we can source funding for a project of this scale given the financial pressures the Council faces.
"If agreed by the Corporate Policy and Strategy Committee, the future of Meadowbank will form part of the Council's budget considerations for the next financial year."
June Peebles, Interim Chief Executive of Edinburgh Leisure, added: "Meadowbank is part of Edinburgh's sporting heritage and continues to attract thousands of customers, participating in a wide range of physical activities, through its doors every week.
"Edinburgh Leisure is therefore delighted to be working with the Council on this exciting project which could create a new Meadowbank for the city, creating an inspiring and welcoming venue that supports even more people to get active, stay active and achieve more."
(JP/CD)
