The council allocated $10.4 million for stage one's five fields, with a further $1.6 million for stage two to be funded from 2018 to 2019 in order to take advantage of cost efficiencies. The decisions form part of the council's draft 2015-25 long-term plan that will go out for public consultation.
Development levies collected for active reserves will fund the $12 million, with $9.5 million already in the bank.
Ms Steiner said the council needed to have spent the levies by 2021 at the latest or else the council would potentially have to refund the money to developers.
Planning for the project will take place next year, with construction expected to start in 2016-17.
It was anticipated that the park would open in 2020.
The report said that while the playing fields in stage two were not required in the short to medium term, the cost of development was halved if it was done in conjunction with stage one.
Once the park opened, ratepayers would be funding about $375,000 a year in operating and depreciation costs.