Tottenham have proposals for a new stadium adjacent to White Hart Lane, with the full planning application for the Northumberland Development Project due in the next few months.
Spurs have so far been encouraged by the response of local residents to the proposals and there could now be good news over building costs.
"The stadium build cost has come down by about £40m because of a fall in the price of steel and cement," said Collecott. "People who want to do this project have greater availability than they did a year or so ago."
Collecott also feels the new stadium will lead to a positive impact on the surrounding area.
"Nobody else is going to pump £250million into this part of London," he added. "It doesn't take a genius to realise it's not the nicest area. It could be the start of much-needed regeneration for this part of north London."
Meanwhile, preliminary work on a new training complex in Enfiled will commence in April.
SECOND NORTHUMBERLAND PROJECT EXHIBITION
The Club has announced the dates for the second public exhibition as it continues to consult on plans for a world-class new stadium, a new base for the Tottenham Hotspur Foundation and a vibrant mix of other uses including retail, restaurants and homes alongside important new public space.
The Club will be hosting its second public exhibition from the 2nd April to the 7th April 2009. Having received strong support for the plans at the first exhibition in November 2008, this new exhibition will present more detailed information and include new images.
Commenting on the announcement, Daniel Levy, Chairman, Tottenham Hotspur said:
"Over the last few months we have made significant progress with our plans, having had an overwhelmingly positive response to our first consultation.
"We believe these plans will further demonstrate the potential of this scheme to make this area more vibrant for the local community, as well as genuinely acting as a major catalyst for the regeneration of this part of the High Road.
"The second stage of our consultation will be another opportunity for the public to comment on our plans, as we present more detailed images and designs, and I hope many local residents and supporters will take the opportunity to visit the exhibition or view the information on our website."