The simplest way to do this is perhaps deleting the file via your application and creating a new one with the same name... in even simpler way just make your application overwrite it with a new file.
This is what I did to clear the contents of the file without creating a new file as I didn't want the file to display new time of creation even when the application just updated its contents.
FileStream fileStream = File.Open(<path>, FileMode.Open);
/*
* Set the length of filestream to 0 and flush it to the physical file.
*
* Flushing the stream is important because this ensures that
* the changes to the stream trickle down to the physical file.
*
*/
fileStream.SetLength(0);
fileStream.Close(); // This flushes the content, too.