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Coleraine chairman Colin McKendry says that the allocation of £36.2 million through The Northern Ireland Football Fund for local football grounds is "fantastic news".
The Bannsiders, Glentoran and Cliftonville are among Irish Premiership sides expected to benefit from the funds, with plans to redevelop the Showgrounds.
The £36.2m is the same amount pledged to local football more than 10 years ago, but the funding was hit by a long series of delays.
"We’ve been waiting on it now from 2011 so hopefully it will be worth the wait," he told BBC Sport NI.
"It means we can put our plans firmly in place that will help our communities.
"We have some very good projects ahead that are ready to go ground, and we want to get them operational.
"Facilities are a must for bringing everything up to a level. There is a lot still to be done so hopefully he can roll out more [money] and I have full confidence in the minister to deliver."
Portadown general manager Mark Beattie says the club have 'ambitious plans' to redevelop their stadium with the funding
Portadown general manager Mark Beattie said that this is just the beginning of the process for clubs eager to carry out much needed upgrades to their stadiums.
The £36.2m will be allocated to clubs through an application scheme, with money being handed out from April next year.
"It has been a long time coming, it is good to see movement finally. The pot isn’t enough but there has been a promise and an eye to increase that," he admitted.
"It is much needed and there is no doubt about that, we just need the proof in the pudding and everything to follow in behind the talk and get the wheels in motion."
The Ports, who won promotion back to the Irish Premiership this season, have plans to redevelop their stadium, Shamrock Park.
"Talking from a Portadown perspective, we’ve been working on this for a long time we have planning permission and our ducks in a row to be as prepared as possible for when applications come out, so we are at the front of the queue," Beattie explained.
"This isn’t the end of the road just the beginning. We have ambitious plans, and we just want to see that come true."
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Carrick Rangers vice chairman Hood recognises that it will be a 'long-term' project to improve infrastructure at Taylors Avenue
Carrick Rangers vice chairman John Hood said the overriding feeling was one of "relief and delight" as the long-awaited announcement of funding finally came to fruition.
Like Coleraine and Portadown, Carrick are hoping to improve infrastructure at Taylors Avenue and Hood believes this money is "a real game changer" for clubs.
"The club is at the heart of the Carrickfergus community so it is important we have the right facilities and the appropriate facilities for people to come and engage in football and this will go a long way to helping us to do that," he said.
"It’s not enough money and the minister acknowledged it and that £200 million was required to bring the grounds up to speed, but you have to start somewhere, and this is a good start, there is a long-term journey to be had."
