Paris’ mayor Anne Hidalgo announced a 15-year refurbishment plan for the Eiffel Tower on Friday, costing a proposed €300 million ($317 million) investment, or €20 million ($21 million) per year.

The renovation will add new reception areas and allow for better crowd management in order to reduce lines on all levels of the 1,063-foot-tall tower. The lower second floor will be upgraded, as will some of the elevators. Perhaps as a response to a recent drop in tourist numbers, pinned in part on the fear of terror attacks, the plan will increase security on the grounds.

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As the tower is usually re-painted every seven years, the plan will also include a new paint job; and as a finishing touch, the 20,000 light bulbs that illuminate the tower for five minutes every hour after nightfall will be redone to continue to dazzle visitors.

The iconic structure was originally built for the 1889 World’s Fair, and today draws around 7 million visitors each year, 90 percent of whom are international tourists, according to its website. The city aims to freshen the tower’s façade in anticipation of two key events that would draw even more visitors to the Parisian landmark.

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Paris has bid to host the 2024 Olympic and Paralaympic Games; it is one of three candidates for the summer event, among Budapest and Los Angeles. The host city will be decided in September of this year.

The French capital also vies for the honor of hosting the World Expo 2025. So far, it is the only official bid, but according to ExpoBids, others will likely come from Manchester and Osaka.