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The London Street bridge is falling down and if it needs to be rebuilt the Port Lincoln council may have to foot the majority of the $2 million repair bill.
Although the ownership of the bridge is yet to be established, council director of operations Geoff Dodd said it was looking like the bridge was mainly a council responsibility.
However government grants may be accessed to help cover the cost.
Mr Dodd said if a total rebuild of the bridge was necessary it would be likely to cost over $2 million.
Doing away with the bridge altogether and installing a level crossing would be a cheaper option for the council but it is not something Mayor Peter Davis would support and he did not think the council would consider it.
"It's probable if we keep rail, rail transport will get longer so there would be much longer time delays on a very important feeder road for Port Lincoln."
Mr Davis said a level crossing was also likely to increase the number of accidents.
Mr Dodd said if a rebuild was necessary the project was likely to take two to three years and temporary measures would be taken in the mean time to ensure the safety and improve the appearance of the bridge.
The footpath was patched last week but there is more work to be done, including fixing the fence.
Councillor Jill Parker said work needed to begin "sooner rather than later because it looks dreadful".
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