Elm Lake, located in Thief River Falls, Minnesota, is a state-regulated fish and wildlife pond with a low hazard potential and a satisfactory condition assessment. Constructed in 1988 by the Red Lake Watershed District, Elm Lake serves multiple purposes including providing habitat for fish and wildlife. The dam at Elm Lake is an earth-type structure with a buttress core, standing at a height of 15 feet and a length of 40,000 feet, with a storage capacity of 20,000 acre-feet.

Managed by the Minnesota Department of Natural Resources, Elm Lake covers a surface area of 2,000 acres and has a normal storage capacity of 5,000 acre-feet. With a drainage area of 63 square miles and a max discharge of 1,000 cubic feet per second, Elm Lake plays a crucial role in regulating water flow in the Thief River-TR stream. Despite its very high risk assessment ranking, Elm Lake is equipped with controlled spillways and has a history of regular inspections, ensuring its structural integrity and safety for the surrounding community and ecosystem.