Council bosses have given the go-ahead for plans to invest £840,000 in the Princess Royal Sports Arena.
At a meeting of Cabinet today, members approved recommendations to invest in the Boston facility as part of a £1.4 million overall spend on leisure facilities.
The other £560,000 will fund energy efficiency projects at the PRSA and the Geoff Moulder Leisure Centre.
The move will bring an end to the long-running saga of the PRSA - with hopes it will be leased out once the work is complete.
Speaking at the meeting, council leader Peter Bedford said: “Hopefully we are in touching distance now of the end of a very rocky road in terms of the PRSA - going from a loss-making venture to hopefully a nice return for the council.”
Coun Stephen Woodliffe added: “We have got the whole thing under control now. I think it’s a mark of achievement as a council.
“We have now got a positive future for the PRSA.”
More on this in next week’s Boston Standard newspaper.