On September 20, 1980, 11 inches of rain fell in 24 hours in the Pickwick area, causing a flash flood that severely damaged the mill and Lake Labell's flood gates. In 1982, Pickwick Mill Inc. was founded to restore the mill and Lake Labelle. The dike and existing pond resulted from a cooperative flood control and historic preservation project supported by the Minnesota Department of Natural Resources, Winona County Soil and Water Conservation District, Pickwick Mill Inc, County of Winona, Township of Homer, and South Eastern Minnesota Initiative Fund.