OWASA Executive Director Ed Kerwin said the meeting is being held specifically to discuss the area's water supply.
Restrictions could be either lessened from Stage 2 to Stage 1 restrictions, or all restrictions could be eliminated completely, he said.
According to the OWASA Web site, Stage 1 restrictions would allow individuals to use water for irrigation or in sprinklers three times a week instead of once a week and would limit irrigation to 1 inch rather than a half-inch.
Residents also will be allowed to use OWASA water in fountains, ponds and pools.
Officials said an unusually wet October helped fill reservoirs to levels considered normal for this time of year. As of Thursday, University Lake was full and Cane Creek was about 6 1/2 feet below full.
Orange County experienced almost three times the average October rainfall this year, which "makes it the fourth wettest October in our rainfall records," Kerwin said.
He said total rainfall for the month of October was 10.12 inches at the Jones Ferry Road Water Treatment Plant. Cane Creek experienced 8.36 inches of rain, 4.64 inches more than the average October rainfall.
These rains aided in refilling the reservoirs to normal levels, said OWASA Lake Warden Eric Barnhardt.
"It brought the river up quite a bit," Barnhardt said. "It made quite an impact."