The Etowah Water and Sewer Authority has entered into a 50-year contract to help build and operate a reservoir along Shoal Creek, although the property owner hasn’t agreed to join the project.The proposed 2,000-acre reservoir would be built on the hilly, wooded landscape of Dawson Forest, a 10,000-acre tract the city of Atlanta has owned since the early 1970s.As of this week, the city has not agreed to sell the land or take part in the proposal, which has involved nearly four years of negotiations.Still, the authority’s board of directors directed Chairman Jim King to sign the contract with partner American Water Corp. on July 10.Authority General Manager Brooke Anderson said the contract was the next necessary step.“I think this is a good agreement for the authority,” Anderson said. “It allows for the project to move forward without any risk to the authority or our customers.”The public-private agreement names the project the Dawson Forest Preserve, which centers on Shoal Creek Preserve, a newly formed limited liability company between the authority and American Water.The focus continues to be on developing a drinking water supply that would address the region’s growing needs.During a June meeting with the authority, Mark F. Strauss of American Water pointed to data gathered in the 2008 report from the Governor’s Water Contingency Planning Task Force for reasons the project is needed.The report said the Atlanta region will experience a water deficit by 2025 even with Lake Lanier and conservation.Expectations of reservoir projectThe Shoal Creek proposal is envisioned to provide a 20-billion-gallon reservoir and water treatment facility capable of generating as much as 100 million gallons of water per day.According to the contract, the reservoir seeks to “provide water and related services to north Georgia and the Atlanta metropolitan area.”The project would cost an estimated $650 million over an eight- to 12-year construction period. Under the terms of the contract, American Water would be responsible for raising all the capital, overseeing the bidding process, building the physical facilities and securing and maintaining project insurance.In a meeting last month, American Water officials said they had begun arranging private financial support.