Over £1 million could be spent on structural repairs to Ballure Bridge.
The Department of Infrastructure will ask for the money in Tynwald - it wants to start work in November.
Plans to repair the 100-year-old structure are part of a scheme to preserve Manx Electric Railway services to Ramsey.
The department says 'significant repair and refurbishment' was already in the pipeline when the Budget was announced.
Minister Phil Gawne says it's not a lot of money considering its significance:
Difficult to compare Island's Hospice funding with UK, says minister
Mountain Road to close because of gales
New amber warning issued for tonight's storm
Police appeal over theft of building materials
One of capital's oldest buildings may become housing
New NHS safety rule to be brought in on Island
Two city streets to shut for over six months
Revamp of airport terminal planned, says DOI