MEMORANDUM

DATE: April 4, 2005

TO: Mayor and City Council

FROM: Port and Harbor Commission

SUBJECT: Lease Options - Lot 10A and 12C Port Industrial Subdivision #4

Pursuant to HCC 1.72.040, the following action was taken at the March 23, 2005 meeting of the Port and Harbor Commission:

MARTIN/WEICHHAND MOVED TO KEEP SHORT TERM LEASING, WHICH IS LEASES LESS THAN ONE YEAR, AS AN OPTION.

VOTE: YES: UNANIMOUS CONSENT

Motion carried.