The state Higher Education Policy Commission voted unanimously Thursday to take over three buildings and 258 acres at the site in hopes of restoring the old Union Carbide Corp. research facility to its former glory.

"Instead of taking three beautiful buildings down ... instead of this turning into a shopping center, people have stepped up to say we're going to change this around," said David Hendrickson, chairman of the higher education commission. "I hope in five years this thing is booming and everybody looks back on this day with a big smile. It's been a great day for West Virginia."

State officials have spent more than eight months trying to close a deal on the tech park with Dow Chemical Co., which is donating the property to the state.

Deadlines have been extended over and over. Questions have been raised about environmental liability. Political squabbles have erupted.

On Thursday, the state signed a binding agreement with Dow to take over the sprawling tech park in South Charleston.

Dow had planned to shut down the tech park and evict existing tenants -- about 400 people work there -- unless the state accepted the donation.

The agreement includes an amendment that stipulates Dow would be responsible for any "pre-existing" environmental problems.

"On the environmental piece, this thing is locked as tight as it can be locked down," Hendrickson said. "We've had more lawyers look at this than there are in the state of West Virginia."

As part of the agreement, Dow plans to donate $10 million that the state can spend on operations during a seven-month "transition period." The state will take final ownership of the property Dec. 15.

"Dow is pleased that the HEPC has accepted the binding agreement, and now we're ready to get down to the hard work of successfully transitioning the tech park to the state's control," said Dow spokesman Randy Fischback.

Higher Education Chancellor Brian Noland said Thursday that the state has immediate plans to "mothball" one of two laboratory buildings at the site, Building 770.

Meanwhile, the Kanawha Valley Community and Technical College will move into the tech park's largest office building, Building 2000.

The state Department of Agriculture's lab division is expected to join the Mid-Atlantic Technology & Innovation Center at a second lab facility, Building 740.

MATRIC officials, who feared the nonprofit research institute might be evicted and forced to close just a month ago, said the state's tech park takeover provides stability and paves the way for future growth at the site.

"The governor and the HEPC has opened the door today to a future economy in West Virginia that is anchored by the physical facilities at the South Charleston Technology Park -- a future of opportunities for high-tech jobs for our children and grandchildren," said Keith Pauley, MATRIC's CEO. "MATRIC is grateful to play our part in making this vision become a reality."

Noland said the state would move quickly to ensure the buildings fill up with tenants.

He said the tech park would become a "stake in the ground" to foster economic development and help West Virginia compete in a knowledge-based economy.

Construction on a $15 million advanced technology training center at the site is expected to start soon.

The higher education commission has received a $500,000 grant to develop tech park plans. The state couldn't submit applications for additional federal grants until it owned the property.

"This will give us an opportunity to say, yes, we have the facilities available and the people available," said Paul Hill, vice chancellor of science and research.

The tech park once housed Union Carbide's U.S. research facilities.

Reach Eric Eyre at erice...@wvgazette.com or 304-348-4869.