1. PORT OF TACOMA Maytown Action Requested of Commission Declare approximately 745 acres of Port owned industrial land in Thurston County (the “Property”) surplus to the Port’s needs, and Authorize the Interim Executive Director, or designee, to execute a Purchase and Sale Agreement and Ancillary Agreements between the Port of Tacoma (“Seller”) and Maytown Sand and Gravel, LLC (“Buyer”).

2. PORT OF TACOMA Commission adopted Resolution 2009-01, which determined that the property was no longer needed for port purposes and that the Comprehensive Scheme should be amended to remove the Property, Conditioned upon the successful completion of sale negotiations, Such action was taken pursuant to obligations with the Port of Olympia. Interim Executive Director has made written certification to the Commission that the Property is no longer needed for port district purposes. Background Resolution 2010-04

3. PORT OF TACOMA The pending agreements are the result of a public bid process and more than 12 months of negotiations between the Port and Maytown Sand and Gravel. The Buyer intends to develop an aggregate mine per the intended use under the designation Mineral Lands of Long Term Significance and in accordance with the Agreed Order and Cleanup Action Plan. Per the permitted use, the Buyer will reclaim the mined areas as habitat and open space. Background Authorization

4. PORT OF TACOMA Purchase and Sale Agreement: Closing:March 31, 2010 (tentative) Contract Period: 20 years, per RCW. Purchase Price:$17.0 Million, $1.0 Million at Closing. Balance paid via combination of Cash and Aggregate Material plus 7.0% interest. Background Maytown

5. PORT OF TACOMA Ancillary Agreements: Assignment and Conveyance:Option to convey title for up to 65 acres for future rail uses. Sales Contract:Principal paid in equal quarterly installments plus 7.0% interest, beginning April 2011. Option to Satisfy:Buyer’s option to satisfy a portion of its principal obligation with specified aggregate material. Special Use Permit Plan:Buyer’s plan to finalize and implement the approved mining and reclamation plans. Background Maytown

6. PORT OF TACOMA Conclusion Maytown Declare approximately 745 acres of industrial land in Thurston County (the “Property”) surplus to the Port’s needs, and Authorize the Interim Executive Director, or designee, to execute the Purchase and Sale Agreement and the Ancillary Agreements between the Port of Tacoma and Maytown Sand and Gravel, LLC.