The lake at Versailles State Park. file photo

(Versailles, Ind.) - The lake at Versailles State Park could be expanded to a reservoir, creating new economic opportunities in central Ripley County.

A bill authored by State Rep. Randy Frye (R-Greensburg) seeks to create a task force to study the pros and cons of expanding the lake to a reservoir. HB 1051 unanimously passed the House Tuesday and now heads to the Senate.

The project at the state’s second-largest park would cost an estimated $40 million.

“Expanding the Versailles Lake would be an incredible improvement to the surrounding region,” Frye said in a news release. “Developing the lake into a reservoir will spur economic growth and job opportunities by incentivizing commercial and residential development.”

Frye pointed to Brookville Reservoir and the numerous businesses and activities it has led to including camping, fishing, hiking, boating, and kayaking.

There would be health benefits as well for area residents.  The expansion of the current 230-acre lake would increase the quality of drinking water which has been a problem during droughts or flooding.

If passed and signed into law, HB 1051 requires the task force – a group of 11 state and local officials – to issue a final report to the Water Resources Study Committee before September 1, 2012.