BANGOR – U.S. Navy-owned property in Gouldsboro could become an industrial park for land-based aquaculture companies following a vote by the University of Maine System board of trustees Monday.

Trustees authorized Chancellor Joseph Westphal to pursue discussions with state and federal officials to transfer the 40-acre tract of federal land to a Bangor-based economic development agency.

The idea is for the university system to act as a “middle man,” taking ownership of the land from the federal government and then quickly transferring it to Acadia Capitol Corp., which would develop it for businesses involved with land-based marine related activities.

These could include a land-based fish farm or lobster pound or a company that builds aquaculture tanks and systems.

Jake Ward, executive director of research and development at the University of Maine, said in an interview last week that the hope is to offer commercial land to companies that got their feet off the ground at the University of Maine’s aquaculture research facility in Franklin.

After the naval base was closed under congressional legislation in 2002 the state had asked the University of Maine to consider developing the land for companies involved with aquaculture, Ward said.

Also on Monday, trustees approved:

. More than $3.5 million to increase the quality and safety of UM buildings. Trustees voted to spend $2.5 million to install fire suppression sprinkler systems and provide asbestos abatement at three residence halls on the Orono campus – York, Gannett and Hart.

. $1.3 million to expand and renovate Alfond Arena as part of a planned second phase to the current improvement project. The newest plan involves adding six new skyboxes and creating space for a hall of fame and additional retail sales. Costs will be covered by athletic department revenues generated in part by skybox leases and ticket and merchandise sales.

UM Interim President Robert Kennedy said Monday during a break in the trustees’ meeting that the potential transfer of the Gouldsboro property to Acadia Capitol Corp. is “good for us and the state because it will provide opportunities to expand the aquaculture industry.”

Maine is becoming one of the top commercial aquaculture operations in the world, he said.

Restrictions against commercial use of waterfront property makes it challenging for companies involved with land-based marine-related activities to find places to locate, Ward said.

“This is just a dream right now, but the property is in the right place at the right time, so we need to start the evaluation.”