Federal and state officials will meet Thursday afternoon with several regional borough councils and planning commissions to explore ways of financing the proposed 325-acre multipurpose dam of the Mauch Chunk Creek Watershed project in the Bloomingdale Valley.

The watershed project calls for the eliminating of flooding here by the construction of a multiple purpose reservoir above the community.

The proposed dam would be fifty feet high and provide flood prevention and create a 325-acre lake. The lake would serve as the nucleus for a large recreational development.