Keighley Market is to undergo a long awaited facelift.
Bradford Council is to inject a substantial amount of cash, believed to be in the region of £600,000, to refurbish the Market Hall.
Yesterday Kathleen Sugden, chairman of the Market Traders Association, said: "There is a good feeling in the market.
"We have been waiting and waiting and waiting for something to be done and now it has come to fruition. It's marvellous. We are just over the moon."
Malcolm Veigas, Bradford Council's head of service for markets, would not confirm the figure but said: "A sum of money has been allocated in this year's revenue budget.
"We have undertaken a programme in the last few years of refurbishing various markets in the district, so it is only fair and reasonable that we look at Keighley."
Work on the building could begin as early as March next year and will be spread over the next three to five years.
The market traders were uncertain about their future following the collapse of negotiations between Morrison's supermarkets and Bradford Council last year.
A row erupted in February last year over the future of the Market Hall when it was revealed that the supermarket giant had approached Bradford Council with a view to buying the site.
Eventually, Morrison's withdrew its plans to demolish the building and build a new market hall for traders in a different location, after opposition from a number of tenants which resulted in a petition of 14,000 signatures against the move.
The supermarket chain had wanted to replace its existing store in Worth Way and build a new superstore on the site of Keighley Market.
As part of the deal, Morrison's offered to build a new replacement indoor market on the pay and display car park in Market Street.
Stallholders, however, were divided over the proposals and, after months of wrangling, Morrison's withdrew its plans for the market and sought alternative routes for expansion.
Now, the good news from City Hall is seen as a welcome tonic for stallholders who, since then, have been in limbo after years of underfunding by Bradford has left the existing building in desperate need of modernisation.
The decision to refurbish the market was taken in the last month and tenants have already met with Bradford Council to discuss plans for the proposed improvements.
Bradford Council's deputy chairman, Cllr Simon Cooke, said: "We had a meeting last week to talk about the forward plans.
"We have not finalised the details as to what exactly we are going to do and it will not be all in one go.
"But we have got a treaty to invest in the market and, after the long running situation with Morrison's, we are pleased to be able to get the ball rolling."
The tenants will now enter into a period of consultation with Bradford Council officials to identify key areas in need of immediate attention.
Mrs Sugden said: "There is a great deal of work that needs to be done to the roof and the floor.
"And there is also the subsidence outside the front entrance. The rest is mostly cosmetic."
News of the cash injection however, has not deterred Keighley Town Council from its intention to take over the running of the market.
Chairman of Keighley Town Council's Service Provision Committee Cllr Brian Hudson said that the town council would still push ahead with its plans.
He said: "Many people in Keighley are mistrustful of Bradford.
"We believe that many of the market traders think we would serve them better than Bradford Council."
Market takeover bid
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