Murrumbidgee Irrigation has finally agreed to let Griffith City Council and the SES use the East Mirrool Regulator to ease future flooding.
Yenda residents blame a metre of soil at the site for exacerbating floods in March 2012 and some residents are yet to return to their homes.
Chief executive Raveen Jaduram says the abandoned structure will be be fully decommissioned at the end of the irrigation season.
Mr Jaduram says the site could be made operational if Griffith City Council requests it for flood management as it works on its flood study.
"The council needs something as a stop gap measure. We have accepted that we will do these works provided that the council takes responsibility for the operation of the structure and the council has agreed to that," said Mr Jaduram.
"Time is a good healer and we get things done if all parties come together and put emotion aside and work together at solving problems."
The old irrigation structure will be fixed over winter and the soil build up blamed for exacerbating flooding is to be removed.
After months of dispute, and a year of angst for Yenda residents MI has agreed to work on the East Mirrool Regulator on the main canal.
A Yenda resident is quoted in the Area News today saying the town wouldn't flood again because residents seeing a build up of water would have blown up the regulator.
Mr Jaduram says no date is set for the work, but it won't take long and he hopes the news is welcomed in Yenda.
"I hope the reaction is positive, the council needs something as a stop gap measure," he said.
"We have accepted that we will do these works provided that the council takes responsibility for the operation of the structure and the council has agreed to that."
MI Chairwoman Gillian Kirkup says the structure, which hasn't been used since before privatisation, will be be decommissioned at the end of the irrigation season.
Ms Kirkup says the company will allow it to be made operational should that be needed for future flood management.
© ABC 2013
14:09 EST Severe weather has eased on the New South Wales north coast after two days of heavy rain and flash flooding, but some communities are still cut off.