Construction work on the new Shoreham Footbridge is expected to begin at the start of August.
West Sussex County Council has written to main contractor Osborne to say it will be awarded the contract for the construction phase of the £9.8 million project.
It is expected to take 45 weeks to complete and be open to the public during the summer of 2013.
Work on the new bridge had been due to start in spring 2012.
However it was delayed while the county council and Osborne reviewed the commercial and technical details of the project.
County Council Cabinet Member for Highways and Transport, Pieter Montyn said: “I’m very pleased to announce that the County Council has sent main contractor Osborne a Letter of Intent to formally award the contract for the construction phase.
“This will allow Osborne time to begin its mobilisation process.
“I’d like to thank the local community for being patient while WSCC and Osborne concluded their review of the project.”
He added: “I understand the frustration the delay has caused but it is important that this work was carried out prior to the start of the construction phase.”
Dr Tommy Chambers, Managing Director of Osborne’s civil engineering team said: “It was important to get all the details in place first, but we’re very pleased to now get on with delivering the project.
“The new footbridge will be a great asset to Shoreham.”
Simon Pratt, Sustrans Regional Director for the South East, said: “It’s fantastic news that the difficulties with the contract have been resolved, and work can now begin on re-establishing this vital link in Shoreham, which allows many more local journeys to be made without the need for a car.”
Funding for the £9.8 million project has come from the County Council and sustainable transport charity Sustrans, which received a £50 million grant from the Big Lottery Fund to extend the National Cycle Network into towns and cities across the UK.
Peter Wanless, Chief Executive of Big Lottery Fund, said: “This looks set to be one of the most impressive and ambitious of the Sustrans projects, providing cyclists and pedestrians with a fantastic link between both parts of Shoreham over the estuary and encouraging people to make every day journeys on foot or by bike. I look forward to seeing the finished result.”