Crossword Genius

Lay the foundations in old city in Antigua possibly close to consulate (10)

Ross

I believe the answer is:

inaugurate

I'm a little stuck... Click here to teach me more about this clue!

'lay the foundations in old' is the definition.
I can't tell whether this defines the answer.

'city in antigua possibly close to consulate' is the wordplay.
I cannot quite understand how this works, but
'city' could be 'ur' (ancient Sumerian city state) and 'ur' is found in the answer.
an anagram of 'antigua' is 'inaugat' which is located in the remaining letters.
A single letter 'e' remains which might be clued in a way I don't understand.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for inaugurate that I've seen before include "Open" , "Introduce (a new system, etc)" , "Invest" .)

I've seen this clue in The Irish Times.
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