Jason, that sounds like a good idea. There are a few ways that you can approach it. Probably the easiest would be to put in a sedimentation pond. If you really wanted to get the water clean, you could start some aquatic vegetation growing, like Muskgrass or Coontail. Otherwise, a constructed wetland would be great, but there are many challenges in design, construction & maintenance. Below is a link to a government site with a bunch of info on some of these ideas:

http://www.wcc.nrcs.usda.gov/watershed/UrbanBMPs/water.html

Most of the info you'd be interested in is in section E.

Good Luck!

Mike Robinson
Keystone Hatcheries