Lakeside project a money pit

CALHOUN FALLS, SOUTH CAROLINA - More than a billion dollars in state and federal funds have been poured into a lakeside development project that has never materialized. <br> <br> When the U.S. Army Corps of Engineers built a hydroelectric dam and created Lake Russell on the Savannah River in 1985, state officials expected the Abbeville County project to entice local development, including a golf course and residential community. But the area has faltered. <br> <br> No homes have been built, the course is filled with weeds, and taxpayers who hoped to settle in the planned community are frustrated with numerous delays and spent money. <br> <br> Jim Pacilli, a retired New Jersey postmaster, moved to South Carolina four years ago to build a home beside Lake Russell. He is one of 14 people who bought lots on the property. Pacilli has spent more than 50 thousand dollars but has only a foundation to show for it. <br> <br> Regulations and a change in developers have stalled the residential and golf community. Melrose Company of Hilton Head Island wants to develop the area, including land owned by the corps, but regulations prohibit anyone from living on land the corps owns.

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