 However, by 2010 the City of London Planning and Transportation Committee decided that the level of service was unacceptable, because the inclinator was frequently out of service due to mechanical breakdowns and vandalism.So the Committee agreed it would be replaced at a cost of up to £750,000 in time for the 2012 Summer Paralympics.A major renovation project was undertaken in 2012, and the funicular was reopened in time to be used by people attending the Thames Diamond Jubilee Pageant of 3 June 2012, which took place about a month before the 2012 Summer Olympics.