Update: according to an update posted moments ago by the Nevada Weather Service in Reno, the Flash Flood Warning has been canceled as the water has receded in the Dayton Retention Pond and it is no longer expected to fail.

4:25 PM UPDATE: Lyon County Emergency Management - water has receded in the Dayton Retention Pond and it is no longer expected to fail. pic.twitter.com/IetvjiH3AH — NWS Reno (@NWSReno) February 22, 2017

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It appears another damn dam is failing. After earlier issuing a flash flood warning, Reno Weather Service warned residents "This is not a drill" as County Emergency Managers noted a Dam Retention Pond is full and overflowing into drainages.

The initial tweet from NWS is quite concerning...

URGENT: Retention basin above East Dayton, NV failing! FLASH FLOOD WARNING UNTIL 6:40PM. THIS IS NOT A DRILL. #NVWx #DamFailure pic.twitter.com/frXe8qhyI5 — NWS Reno (@NWSReno) February 21, 2017

But, the good news is that there hjas been no dam failure...

UPDATE: Directly from Lyon County Emergency Management:

"There has been NO dam failure." #NVWx #LyonCounty pic.twitter.com/UqcNyCbk49 — NWS Reno (@NWSReno) February 21, 2017

But as NWS notes, the situation could change in the next few hours.

THE FLASH FLOOD WARNING REMAINS IN EFFECT UNTIL 630 PM PST FOR NORTHERN LYON COUNTY...



At 153 PM PST, the Lyon County Emergency Manager indicated that the South Dayton Retention Pond is full and overflowing into drainages. No failure has occurred and no homes or properties are currently threatened. However, the situation could change in the next few hours.



PRECAUTIONARY/PREPAREDNESS ACTIONS... Pay attention to the latest information from emergency officials and the National Weather Service in case the water retention pond fails.

Rain continues to fall in Reno...

Very heavy 'white rain' in Reno this morning. Up to 3 inches possible downtown today. Snow Advisory through noon - https://t.co/UnIuuoIQbr pic.twitter.com/UX0nSHW84x — NWS Reno (@NWSReno) February 21, 2017

Coming so soon after the Oroville Dam debacle, local residents are right to be concerned.