Alas the taxpayers of the city, with one exception, don't seem so optimistic.
The centre, which could be based in a building in Castle Gate in the city centre, will provide a neutral location for teenagers to meet.
Nottingham Youth Council member Aaron Reilly, 15, from Wollaton, said: ''This is so exciting for the city.
''It will bring people into town from different areas who don't usually come in and it's going to make a big difference.''
The 'NGY' project will involve the refurbishment and extension of the building over the next three years.
It is envisaged the centre will have a recording studio, a DVD production area, a dance studio, cafe and gym.
Coun Mick Newton, chairman of the Young Nottingham Select Committee, told the Evening Post: "Hopefully this will break down some of those territorial boundaries and young people will be able to gather on neutral turf.
"This wouldn't have been possible unless the young people themselves had put this together.
"The name NGY was suggested by young people because of postcode gangs and they wanted to get away from that."
I liked Nick's comment :
The Saxon kings bought off the Vikings by paying Danegeld. This scheme has all the same hallmarks and should be called Duwaynegeld.