Talks have taken place about the future of Farington Lodges.
Thousands of fish were found dead at the water due to a lack of oxygen last summer.
South Ribble Borough Council, which owns the Lodge Lane site, closed it as a safety precaution and The Environment Agency investigated. It was thought the problem could be due to water run-off from a fire at nearby Whitfire Shavings.
Farington Parish Council, Withnell Anglers – which holds the fishing licence – and South Ribble Borough Council have discussed the lodges.
Councillor Graham Walton, cabinet member for neighbourhoods and streetscene, emphasised there was no direct link to the fire as investigations had not been able to firmly connect the two.
He said: “What’s important now is to bring the lodges back to a condition where it can support fish, and also offering improvements, including a dipping pond area which school children can use to learn about the environment.
“There is funding available from the council, but we need to make sure what we do is right so we are currently awaiting results of the latest tests undertaken by the Environment Agency.”