There was some concern that the pond level would remain very low during the summer season.
Pacific Corp spokesman Bob Gravely says the repair work will take place in April.
"This hopefully will put people's concerns at ease through the rest of the summer season. It should ensure the pond is full through the year.
Pacific Corp and officials with the Bend Parks and Rec and the city of Bend continue to meet to try to work out a potential transfer of the dam to a local entity.
The work to be done will put steel sheets into the river bed to fix the leaking dam.