The agreement will see Darlington FC return to the town for the 20162017 season, playing its games at the stadium on Grange Road.
During the announcement they confirmed that all funding streams were progressing towards the common objective of developing the stadia and facilities to accommodate both sports.
John Tempest, director of Darlington FC, said: “This agreement between our two clubs represents the achievement of a key milestone in the further development of DFC since 2012.
“We have been encouraged by supporters, business and community partners in our ultimate aim of returning to play our games in our home town of Darlington.”
Following this announcement DFC is planning an Open Fans Forum to be held at DRFC Blackwell Meadows on Thursday 24 March commencing at 7.00pm to launch its fundraising plans.
Speakers will include DRFC chairman Michael Wilkinson, DFC directors John Tempest , Richard Cook and team manager Martin Gray.