"We expect the council to sign off the plans in November, then there will be a 13-week judicial review period," Ridsdale told BBC Sport Wales.
"Work should then start on knocking down the old Leckwith Athletic Stadium early in the new year, with the new stadium being started next summer.
"We plan to start the 2008/9 season at Ninian Park, before moving across the road to the new venue before Christmas 2008.
"Laing O'Rourke won the tender process and have a fine record, having built the Ricoh Arena and the Millennium Stadium in recent years."
Ridsdale is heading the club after Sam Hammam resigned to allow the stadium to progress. New funding is coming into the club via "two to three" London based financial institutions who specialise in Hedge Funds.
It's said upto £12m will be made available to clear up debt and strengthen the squad with further debt clearance planned through stadium sponsorship and other revenue streams. Ridsdale hopes to float the club in the future.
"If we can deliver Premiership football we will look to float the club on the stock market and give it back to the people and fans of Cardiff," said Ridsdale.
"Such a form of investment gives the supporters the chance to have true transparency and a direct say in their club."
Ridsdale is keen to prove himself after his time at Leeds Utd
"This is definitely an opportunity for me to show I know a bit about football and how to handle a business," he said.
"I've never denied that I made mistakes, but that is the only way you learn."
Of course we have heard these promises before, several times from Sam but this time it should be different. There's little doubt now that Sam was a stumbling block. It's thought the council are happy to progress with the new regime and with the amounts of money being invested it must be a pretty nailed on thing.
I mentioned sharing earlier with Cardiff Blues. That idea has not been ruled out.
Ex-Cardiff rugby captain Mike Hall - a director of Cardiff City Stadium Ltd - is in talks with Blues benefactor Peter Thomas and chief executive Bob Norster.
"Peter sees a great chance to play at a state-of-the-art venue and move the Blues forward as a region," said Hall.
"They clearly have some way to go with their own land-owning tenancy agreement [at Cardiff Arms Park].
"But they are more than willing to sit down to some serious negotiations."