The city council is being asked to approve a number of recommendations which will enable work to take place. These include:

• The granting of a 999 year lease for the site of the proposed new stadium
• The design work and tendering of work to restore Stanley Park and the Gladstone Conservatory
  
• The acceptance of grants from public sector funders, dependent on the football club confirming private sector investment
• The setting up of a Joint Venture Company between the club and the city council to manage the improved Stanley Park and other open spaces
  

The overall cost of the first phase of the project will be £215 million, of which £26 million will come from the public sector. It includes the new stadium which incorporates a Community Partnership centre with facilities for education, sport and community activities, along with a fully restored Stanley Park and high quality public realm.

A new economic assessment estimates that the project will create 766 permanent jobs, 260 construction jobs, boost tourism numbers by nearly half a million visitors a year and increase visitor spending by £18m a year.

"Liverpool Football Club is one of the best-known and most successful in the world," said Lib Dem council leader Warren Bradley, "Yet it stands in one of the poorest areas, not only in the city, but in the country."

"What we are looking to do is not just provide a new home for the football club fitting for their status as one of the world's best, but use their success to spark a dramatic revival of the Anfield and Breckfield areas.

"For the past five years we have worked with the Anfield Breckfield Partnership Forum on the strategy to regenerate the area and every consultation with the local community has shown overwhelming support for this scheme.

"There have been some objections to the loss of open space and clearly we will consider these very carefully before making any decisions.

"However, this is a golden opportunity for north Liverpool to be transformed."