If you don't have the correct compressor pulley wrench a 2' pipe wrench will fit it. If it's frozen or stiff just use a rag as a pad to keep from scarring the pulley.
Since it's a split sheave pulley, tightening the front half down has the effect of making the pulley diameter larger which, in turn, tightens the belt. It also pinches the belt and if tightened too much without freeing the belt you can crush and weaken the belt.
To prevent all this, tighten the pulley a half turn or so, make sure the engine stop handle is pulled out, and bump the starter with a firm stab of the button. The pinched belt will walk up and out to where the now larger pulley diameter wants it to ride. Then re-check the tension and see if it needs more adjustment. You may need to snug down the pinch bolts to keep the outer sheave from moving while doing this.
If you tighten it too much with out freeing the belt it can also break the belt so go easy until you're comfortable with the process.
Once you do it the first time you'll see it's a pretty painless deal. The compressor wrenches are available form some folks on the forum.
Good luck and keep 'em rolling!
Lance