Over the next four weeks it is asking for feedback on potential methods of dealing with the build-up of phosphorus in the lake bed's sediments.
The presence of phosphorus, which comes from the use of fertilisers in the area for about 70 years, has caused periodic algal blooms that render the lake unsafe for recreational use.
ORC operations general manager Gavin Palmer said any restoration effort would be a ''balancing act'' and could involve a combination of methods.
''Each of the methods carries some advantages and drawbacks.
''It's important the community understands the rationale for each method and how it may affect them.''
A total of four drop-in sessions will be held at the Lake Hayes Pavilion next Tuesday and on September 3.
Regional council and independent experts will be available to answer questions.
Friends of Lake Hayes chairman Mike Hanff said the objective was to achieve a ''healthy, swimmable'' lake. The group's position was that addressing the quality of water entering the lake, along with continuing monitoring and evaluation, should be the priority.
The drop-in sessions will be held from noon to 1.30pm, and 5.30pm to 7pm, on both days.
Online feedback can be left on the regional council's ''YourSay Lake Hayes'' web page.
