They've already reinforced the expected shoreline in front of the dump.
Also, by dredging a new channel just downstream of the old causeway (and in front of the old dump), they will be straightening out the river, thus increasing flow velocity, and preventing any new meanders from occurring. I am sure the dump will be safe.
By straightening out the channel, this will also hasten cleaning all the silt out of the headpond as well.
My main concern is more downstream, with the meander at Outhouse Point. I think the river flow there will be directed back towards the riverbank in front of Riverfront Park in the downtown area, with the increasing flow volumes and flow velocity causing increasing erosion along the outer circumference (north shore) of the river. This might cause the meander here to worsen.
Again, they have reinforced the shoreline here with riprap, but I remain somewhat concerned.
I interpret carotid ultrasound examinations, which gives one an appreciation of fluid dynamics.