It remains a popular recreational area and helps generate an estimated $70 million in tourism revenue for White County.

Construction of the dam finished in June, 1923, and it remains standing approximately one mile north of Monticello.

The lake is often busy with boat traffic on summer weekends due to the increase in tourists.

Since formed, Lake Shafer has been drained in 1965, 1975, 1985, and 1995, so repair work could be made to the Norway Dam.

It was announced that in late April 2008, Lake Shafer will be drained once again for repairs to the Norway Dam.