Your jurisdiction may have various things to say on water level control .. mainly to be engineered for different height inlets with different flow rates. I don't know a lot about that stuff, but I see it when I see these large risers with large pipes.
It seems like a control valve is unnecessary, simplifying things a bit.
It's a bit unclear to me how exactly the riser is connected to the lateral pipe and where the failure was. This is pretty important.
