MARGATE have seemingly moved a significant step closer to start redeveloping Hartsdown Park.

A club statement released this afternoon said: "The Directors of Margate Football Club are able to announce that they have today issued a letter to Thanet District Council accepting the latest terms set out in their letter of offer, which in turn will allow the proposed redevelopment to go ahead.

"The club will now pass the Heads of Terms agreement, to which our joint venture partners are agreed to the lawyers to prepare final documentations for signature by all parties. The redevelopment proposals will go before the Council's Cabinet on Wednesday November 10 for approval."

Margate will now prepare to announce a timetable for it's new stadium after consultations with the project architects, when a programme of works can be agreed and issued. Supporters will be able to access all plans and information about the progress and timing at the newly refurbished social club at Hartsdown Park.

Meanwhile, Margate have confirmed that signing the heads of Terms agreement will trigger the immediate availability of £300,000 of funding, and the appointment of three new directors.

A spokesman added: "The new funds will immediately stabilise the club's trading position, guarantee the future return to Hartsdown, and allow the Manager (Chris Kinnear ) to commence the rebuilding of the team.

"The club now has both the red and amber lights, and our supporters will be first to be told when they change to green."

The news will be welcomed by the club's fans who feared for the future again following a Supporters Meeting last week. Desperate to see Margate return to the ground where they first played 75 years ago this year, supporters turned up in buoyant mood after apparent agreement had been reached at a "last ditch" meeting on October 15.

However, they went away despondent after hearing that "two amendments" had been included in the council's written offer. Even Kinnear himself admitted he was" bewildered" by the events of late last week.

Margate's current ground-share agreement at Ashford is due to expire in December. It seems likely they will negotiate an extension to stay at Homelands for the remainder of this season.

They are due to meet Weston Super Mare there on Saturday.