MANITOU SPRINGS, Colo. (CBS4) –The Pikes Peak Cog Railway is one step closer to being rebuilt.

(credit: CBS)

Manitou Springs city councilors approved a new deal which will get the historic train up and running again after it shut down in 2017 after 126 years.

The Broadmoor agreed to invest $100 million in repairs. Tuesday night’s deal gives the Broadmoor tax breaks for the construction.

(credit: CBS)

Officials hope construction starts in August with a reopening date set in 2020.

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