Deal will need approval from Tynwald next month
It's hoped work on the flumes at the NSC will progress after talks between the government, contractors and suppliers.
They've been out of action since August 2018, with the project delayed after a legal dispute emerged over health and safety issues.
Education Minister Dr Alex Allinson says a draft agreement has been reached on correcting work on the flumes and zero-depth play area.
It will go to Tynwald for approval in November, and if passed it will allow remedial work to begin on the flume stair, platform, and run-outs.
Exhibition marking 10 years of Biosphere status opens at Museum
Parents urged to stay vigilant about the safety of squishy toys
Gym to enter new era
Jenkins: 'I want to stabilise, strengthen and streamline government'