Red Bank officials said the city's swimming pool will remain open, but with less funding from the city.
They said the 42-year old pool will open in about two and a half weeks.
The city will continue to pay for utilities, but a citizens committee will provide oversight. That is due to save the city about $40,000.
Some businesses have agreed to help keep open the popular pool.
There was a citizen outcry after the city announced earlier it was closing the pool.