Pending education board approval, the Paisley school will get cash for priority capital work under the province's Community Hubs Capital Funding program.
Superintendent of Business Services Rob Cummings says he hopes work begins this summer.
Cummings points out the school roof is in need of being replaced in certain areas, and there is asphalt work to be done around the school.
He says it's going to cost around $800,000 for the work and the province is picking up all but $459 of the tab.
In a report to the board's Business Committee, Cummings says the repairs should help attract a community partner for a minimum 5-year lease.
The board is currently negotiating with Arran Elderslie for such a lease.
Saugeen Shores/Arran Elderslie trustee Dave Mason says any questions from Paisley residents about whether or not their child should be enrolled at the school going forward, he believes, is now removed.
Mason calls the news a fantastic day for the Paisley community and for those who showed leadership in fighting to keep the school open.
Cummings says "Some of the comments we received during the (ARC) review was people expect enrolment to grow in that area so if it does, here's a timeline to look at that growth and how it occurs."
Board approval of the recommendation is expected at its next regular meeting on Tuesday, February 20th, 2018.