The plans include the creation of a high-quality leisure and sport destination at the site in Cardiff Bay, and have been explored in an update report to the local authority's Cabinet.
The report, which will be presented to Cabinet on Thursday 23 September, seeks authority to acquire the residual of the Sports Village from Greenbank Partnerships and proceed with the delivery of the wider masterplan.
The report will seek authority from Cabinet to:
• Purchase around 10 acres of Greenbank's land at the ISV and Ice Arena Wales development to consolidate the Council's ownership at the site
• Bring a number of smaller housing plots to the market to accelerate the completion of the project
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• Purchase the Ice Arena as part of the deal with Greenbank to helpthe Council deliver their plan to establish a leisure and sport destination at the ISV with all of the facilities under the Council's control. The facility is currently operated by the Cardiff Devils and this will continue for the foreseeable future.
The report advises that the business case for the new Velodrome is being developed and will be reported back to Cabinet in December.
Additional business plans are also being developed to relocate the Cardiff MX (motorcross) facility to ISV and for the proposed new Closed Road Cycle Circuit - both of which will be reported back to Cabinet at a future date.
Cabinet Member for Investment and Development, Cllr Russell Goodway, said: "The Council remains committed to completing the International Sports Village development and to delivering a high-quality leisure and sport destination at the site.
"The leisure destination remains a key priority for the Council, included as an objective in the Council's Corporate Plan and over the years, the Council has invested in a number of state-of-the-art facilities such as the International Pool and the International White Water Rafting Centre and FlowRider.
"If the recommendations in this report are agreed, the Council will be able to progress with Phase 2 of the development, bringing together the facilities on site as a single attraction and develop plans to create additional facilities at the International Sports Village."
