I think the hole is part of the pulley swing arm in the bottom. So you pull the tensioner as far as you can, then put a screw driver through the hole and it slots into a second hole behind it, keeping the tensioner out of the way.
Thanks for the help to you and everyone else! But I finally got it over the PS pump pulley with a little bit of brute force. The old belt didn't look too bad but I bought the truck used and saw no record of it being changed (ODO has 124,000) so I figured just change it for peace of mind if nothing else. This forum has saved me so much money. Thanks again everyone
