The total project cost for the project is estimated at $83 million. According to the implementation agreement, CalAm will pay an amount equivalent to the estimated cost of buttressing the dam, or approximately $49 million. The Conservancy, with assistance from the NMFS, will secure the additional $34 million from state, federal, and private foundation sources. Construction of the project is expected to take three years - activities will be restricted to approximately April to November to avoid the rainy season and impact to migrating steelhead. During years two and three of construction, the Carmel River and San Clemente Creek will be diverted around the reservoir and dam site, and the reservoir will be emptied.