I think they ought to haul it up out of the lake, cut it up and make banjo bridges from it.
There's nothing like the sound of "old wood". Makes good banjo necks and guitar tops, too.
And as for the 4.6 trillion gallons of water in the lake (per the article), they should build a pipeline to Texas and Oklahoma. They could use it. Forget California though... let them bake in the drought!
Addendum:
I'll modify that -- send some to the farmers in the Central Valley.
But L.A.?
Furgeddaboutit!