EDMONTON -- Closing arguments are being held today at a review of a proposed reservoir that could protect Calgary from future flooding.

The two-week-long hearing by the Natural Resources Conservation Board, an arm's-length agency of the Alberta government, is to determine whether the project is in the public interest.

It's considering the project's social, economic and environmental effects.

Alberta Transportation proposed the $432-million off-stream reservoir near the rural community of Springbank, Alta., which is west and upstream of Calgary.

The idea for the reservoir, which would divert water from the Elbow River, developed after extensive flooding in Calgary in 2013.

It has faced stiff opposition from some landowners, who prefer another site further upstream.