1. In a small bowl, stir yeast into the 1/4 cup warm water (110-115 degrees F). Water should feel warm, but not too hot, against your wrist. Let stand for 5 minutes until foamy.
2. In a large bowl, combine flour and salt. Add yeast mixture, 1 1/2 tablespoons of the olive oil, and cool water (3/4 cup plus 2 tablespoons). Mix with a wooden spoon until dough comes together. Flour your hands and knead ball on a lightly floured surface for about 5 minutes, until smooth and satiny. (If dough is rough and sticky, add a bit of flour; if dough is crumbly and not coming together, add additional water, 1 tablespoons at a time.) Alternately, mix dough in a standing mixer equipped with a dough hook, and knead with the mixer for 5 minutes. Dough may also be made with the dough cycle of a bread machine; follow manufacturer's instructions.
3. Let dough rest for a minute on work surface while you wipe bowl clean. Use remaining 1/2 tablespoons oil to grease bowl. Place dough in greased bowl, cover, and let rise until doubled in size, about 1 hour.
4. Place a little flour on your hands. Punch down dough and divide it in two . Roll each piece into a ball, and then stretch the top of the ball down around the sides to the bottom to make a tight outer skin. Pinch the bottom together. Stretch another layer down and around and pinch together. Cover dough balls with damp towel and let rest 15 to 20 minutes. At this point, dough can be rolled out for pizza or placed in a plastic bag and stored in the refrigerator for up to three days.
Source: Hannaford fresh Magazine, May - June 2007