The Ambassador Bridge Company and the City of Detroit have signed an agreement that would give the bridge company U.S. land it needs to build a possible second span.

Detroit will give the bridge company title to a three-acre strip of undeveloped city parkland that runs parallel and immediately west of the bridge.

In return, the bridge company will transfer 4.8 acres of waterfront property to Detroit to expand Riverside Park to the west and it will pay the city $3 million for park improvements.

The agreement still has to be approved by Detroit city council.

If the Ambassador Bridge Company receives necessary approvals, the company says it intends to use the three acres for a second span of the Ambassador Bridge.

"This agreement allows for Riverside Park to become the Marquee Park in Detroit while protecting the possibility for a second span of the Ambassador Bridge," said Matt Moroun in a news release. 

The deal also includes construction of new baseball and soccer fields, picnic and fishing areas and the installation of 1,050 windows in the Michigan Central Train Depot.

“This agreement gives the city the land and funding it needs to create a marquee park at Riverside and give Detroiters even greater access to our riverfront,” Detroit Mayor Mike Duggan said in a news release. “At the same time, it provides a dramatic improvement in the appearance of the Michigan Central Depot.”