Millers chairman Dennis Coleman told the Rotherham Advertiser: "Very positive and meaningful and exiting progress was being made.
"Rotherham has desperately needed a new stadium for years and now there is at last a glimmer of hope on the horizon. There has been a lot of false dawns over the years but now the people that matter are really lucking into this idea.
"I must stress that this wouldnt just be a sports stadium but a community stadium, complete with retail and perhaps hotel facilities, It would form a real asset for this town."
Redevelopment work on a new stand at Millmoor will be put on hold, while council officials consider the proposal.
Coleman added: "There is a lot of negotiating to be done but my aim is to have the new stadium built in two to three seasons time."