Work to improve the Grandstand Community Centre on Carholme Road started on Monday, March 19.
The work, costing £100,000 and undertaken by Lindum Group, will see the exterior of the building re-painted, replacement of the timber and roof and tile repairs.
The revamp on the Grade II listed building should be completed by June, and some rooms will still be able to be used for community purposes.
This work is part of several improvements to the building over the past year, including new carpets, kitchen and internal decoration.
City Councillor Neil Murray said: “The Grandstand and Weighing Rooms are iconic buildings on the gateway into Lincoln and I’m delighted that we are able to undertake this work.
“The buildings are an important part of Lincoln’s heritage and also provide a vital community facility.
“As well as the obvious links to the city’s racing past, the Grandstand also features a mural dedicated to the Royal Flying Corp above the fire place in the meeting room and externally features the Royal Coat of Arms of the United Kingdom.
“I’m looking forward to seeing it restored to its former glory and hope the community will continue to get good use out of this important facility.”