Lake Placid Dam January Project Summary

Date of Report: January 9, 2026

Recent Activities:

Since the last Report on December 12, 2025 —

1. Installation of the gate in Bay 1 was completed.
2. Installation and routing of hydraulic tubing to the Bay 1 cylinders was completed.
3. Welding the side seal plates in Bay 1 was completed.
4. Setting the Bay 1 dogging arms and assemblies was completed.
5. The testing of hydraulics is ongoing.
6. Work on the north embankment concrete roadway continued.
7. Work on the maintenance bridge handrail, ladders and stairs continued.
8. Electrical and instrumentation work in the Powerhouse continued.
9. Concrete armoring on the north embankment continued.

Change Orders:

1. Approved Change Order: The tainter gate that regulates river flows into the Powerhouse turbine pit is in need of structural repair and repainting. While the lake levels are down (making the tainter gates accessible), it was decided to engage Sundt to perform the necessary maintenance and re-coating through this approved change order. Sundt was also approved through this change order to clear vegetation and remove buildup from the downstream side of the slide gates. This change order also includes stripping paint from the Powerhouse windows, painting window frames, repairing broken glass, and repairing window opening mechanisms. Additionally, this change order includes deductions to the Contract price to cover additional engineering and inspection fees, tainter gate inspection services and testing of transformers. This change order resulted in a deduction of $227,000.00 to the Contract price and an increase of 222 days to the Contract time.

Schedule/Update:

Schedule: The revised Substantial Completion Date is February 12, 2026. It was reported that the extension of time was due to the enlarged weld discovered during the placement of the 4th section of the gate in Bay 1. The resolution to grind the weld down had to be approved by Black & Veatch to ensure grinding the weld would not adversely impact the structural integrity of the gate. Once approved by Black & Veatch, the weld had to be ground down and then re-coated (three (3) coats of Tnemec paint) at which point the final section of the gate could be installed in Bay 1.

NOTE: With approved change orders to date, the Substantial Completion Date for Lake Placid is February 12, 2026. It is important to remember that the Substantial Completion Date does not take into account the time needed to impound water on Lake Placid or the final testing of the gates (as the lake must be full in order to conduct the final testing). We expect impoundment to commence immediately following the Substantial Completion Date.

Upcoming:

In the next several weeks, we expect (1) the hydraulic cylinders in Bay 1 will be connected to the gate; (2) to pretest the gate in Bay 1; (3) to place the second stage concrete behind the side seals in Bay 1; (4) to begin removing the work bridge on the upstream side of the dam; (5) to finish maintenance bridge details; and (6) continuation of remaining embankment dam armoring, concrete placements, and rock riprap installation.

Substantial Completion Date: February 12, 2026

Notwithstanding the revised Substantial Completion Date announced by the contractor, as of this Report approximately thirty-four (34) days remain until we can expect water impoundment to begin at Lake Placid (i.e. February 12, 2026).

(1) Temporary docks, platforms and structures that have been placed at or below the normal operating level of Lake Placid on or in proximity to the riverbed (since October 2021) must be removed prior to the Substantial Completion Date. Do not simply abandon these structures with the expectation that they will remain on the riverbed or float away when the water impoundment begins. They will not. Items left in the riverbed will become hazards that will impact the safety of everyone who uses and seeks to enjoy the waterway; and

(2) Waterfront property owners along Lake Placid are reminded and encouraged to abate and remove all woody vegetation from the waterway in front of their property.

Once water is impounded behind Lake Placid Dam, removal of these items will become very challenging, if not impossible.

Note: The normal operating level of Lake Placid is defined as 497.5 feet above mean sea level at Lake Placid Dam, which is the historical operating water level.

Recent Photographs of Construction Activity/Progress —