thanks for the input jsec.
I met today with the excavator, he seemed to know his stuff well. He told me of some ponds he has built in the area, a few that I was somewhat familiar with so I'll be checking with those folks. He too thought that I may have a little more watershed than I figured, but not too much. He recommended we start with some test holes, he is going to be sending out a backhoe to dig 6-8 test holes. He said they have run into some sand veins in the area that would be a problem. He is still saying that they will build the pond in exchange for the dirt. He also says that they may try to dig it yet this year(he would like the dirt for another project they are doing). I am very excited but I must admit it seems too good to be true. Has anyone had experience with a situation like this? Honestly I called them and proposed it figuring I would have to kick in some money also but it isn't working out that way. The dirt has several feet of good Iowa topsoil. I don't have any idea what that is worth, maybe more than I thought. Anyone have any idea? Thanks!