A legislative committee postponed action today on a request by city officials in Portland to extend the city's lease of state-controlled lands under the Maine State Pier as part of a plan to redevelop the area.

The Agriculture, Conservation and Forestry Committee voted to reconvene Thursday, after city and state officials and the would-be developer try to fine-tune a bill granting the city a 75-year lease on the submerged lands.

The city would then lease the property to The Olympia Cos., which plan to build an office building, hotel and other amenities on and beside the 1,000-foot, city-owned pier.

Olympia contends that it needs a lease of at least 75 years to secure financing for its plans, but the state Bureau of Public Lands typically allows 30-year leases on submerged lands.

The legislative committee hopes state officials, city leaders and the developer can improve the bill before Thursday's committee meeting, possibly by shortening the proposed lease to less than 75 years.

"There are lots of submerged lands" in Maine that are subject to the 30-year maximum on leases, and giving Portland a 75-year lease may open the floodgates for similar requests from other lease holders, said Rep. Wendy Pieh, D-Bremen, who co-chairs the legislative committee.

Officials from Ocean Properties, the other company that wanted to redevelop the pier, have said they oppose the extended lease because they believe it is unnecessary. The city council has decided to negotiate with Olympia rather than Ocean Properties.