The new-style vocational college, specialising in engineering and construction, is due to open in September 2015 if the plan gets the go-ahead.
A six-week consultation starts today for the £10million project on the 26-acre site in Pier Road, owned by Peel Land and Property.
The UTC would provide a technically-focused education for up to 600 students for 40 weeks of the year, with a typical working day from 8.30am to 5pm, to reinforce its business approach.
Prof Alan Reed, chairman of the project steering group, said: "After exploring numerous options, the UTC Trust is delighted that the minister has agreed to fund our proposal for the UTC to be sited on the new Chatham Waters development at Chatham Docks, subject to finalising the acquisition with Peel Land and Property and securing detailed planning permission.
"An essential part of the development of the UTC is listening to the views of as wide a range of people as possible, to ensure Medway UTC fully meets the needs of local young people, their families, employers and others."
In addition to responding online, by post and by email, a series of public events will be held next month.
Medway Council leader Cllr Rodney Chambers
Medway Council leader Cllr Rodney Chambers said: "Medway has a rich history of construction and engineering, and a university technical college specialising in these subjects will not only continue this tradition, but will also equip a new generation with first-class technical skills that will help them pursue careers in these important sectors.
"The UTC will enable a degree of specialisation before the age of 16 that is currently unavailable. It will also benefit local employers, which in turn will boost the local economy."
Students will also be taught core subject GCSEs, but there will be no homework as all work is done during school hours.
The UTC is sponsored by the University of Greenwich, MidKent College, Medway Council and BAE Systems.
The government approved Medway Council’s plans for the college last March after the initial bid failed.