The City of Cold Lake says that they are moving closer to a new storm water pond. The current storm water management area, Fischer Pond, occupies land that the city would like to open up to development. At the city’s Corporate Priorities Meeting, council was informed that the design for a new storm water pond was 90 per cent complete, and that city staff are seeking approval to drain Fischer Pond before going to tender. The estimated cost of the new pond is $4.7 million.