MOUNT PLEASANT, S.C. - The retired aircraft carrier USS Yorktown at Patriots Point is the biggest attraction at one of the state's largest tourist attractions. It is also the most expensive to maintain.

An assessment of such maintenance costs plus a review of the value of real estate at Patriots Point will help the Patriots Point Development Authority set a new financial course for the maritime museum on the Mount Pleasant side of Charleston Harbor, officials say.

John B. Hagerty, the recently appointed authority chairman, hopes to restart some of the stalled commercial development projects at the site. He also has requested updated assessments of the value of authority real estate and the costs of running the museum.

"When you look at the expenses that are looming, our duty is to plan for them," said, Hagerty, a Charleston attorney appointed chairman by Gov. Mark Sanford in April.

Resurfacing the flight deck of the 60-year-old Yorktown will cost about $8 million - twice as much as expected.

"There was sticker shock when the bids came in," said David Burnette, executive director of Patriots Point. Without more money, work will have to be stopped halfway through the project, he said.

In response, the authority is taking a good look at the value of its real estate.

In April, the Ginn Co. announced its intention to buy the lease to the public golf course at Patriots Point and renovate the 18-hole course as part of a development it proposes for private property nearby.

"I hope Ginn stirs up a lot of dialogue about what people want to see and don't want to see," Hagerty said.

The company is talking with another Patriots Point leaseholder, Jack Theimer, who controls 10 vacation cottages and a prime 12-acre waterfront parcel near the golf course.

Hagerty says a deal between the two would speed development on open land at Patriots Point, generating more rental income.

"I like the direction in which we are going," he said.

Hagerty said the Patriots Point board is updating appraisals of its real estate, including parcels that have been leased.

"So to the extent that lessees ask us for changes to their leases or more property, then we want to have a good handle on what we're doing," said Hagerty. "It allows us to make informed decisions."

The authority staff is conducting a review of the costs connected with maintaining the ships at Patriots Point.

"Without knowing what your realistic long-term costs are and what the realistic value of your property is, you're negotiating in a vacuum," he said.

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Information from: The Post and Courier, http://www.charleston.net/