BANGOR – A luxury yacht maker poised to branch out into military markets won exclusive negotiating rights Monday night to a 17-acre city-owned parcel on the Penobscot River.

Though the property sits in Hampden, it has belonged to Bangor since 1922, when the city bought it to use as a gravel pit. More recently, it has served as the city’s snow dump.

Now it appears the property might soon serve as the site of a manufacturing facility for an all-composite version of the aluminum Mark V patrol boat used by Navy SEALs.

Earlier this month, Hodgdon Yachts unveiled a prototype of the boat it developed in partnership with the University of Maine Advanced Engineered Wood Composites Center.

The composite boat is designed to reduce the wear and tear on boat operators by absorbing the impact of the vessel crashing through waves at speeds of 50 knots and up. Such force on the current aluminum version of the boat often results in injuries ranging from broken bones to broken teeth.

If the prototype is successful, the Navy could end up buying $200 million worth of the patrol boats, according to U.S. Sen. Susan Collins.

A company official said Monday the composite boat could have other applications, including use as a Coast Guard vessel.

During a meeting Monday night at City Hall, city councilors voted 8-0 to grant Hodgdon Marine LLC, a subsidiary of the East Boothbay yacht maker, tentative developer status or exclusive negotiating rights for the parcel through April 30. The idea is to put the parcel on hold while Hodgdon works out a military contract, lines of financing and other tasks related to the project.

“We’ve experienced a lot of interest in this boat,” said David Packhem Jr., president and chief executive officer of Hodgdon Marine. “There’s a lot of countries around the world that have coastlines to protect. We think we’ll have an opportunity to sell a lot of these boats.”

He said the company is eyeing the Hampden parcel because its East Boothbay facility is designed to produce one-of-a-kind boats one at a time.

“This would be a production methodology where [the company would build] multiples of the same boat, and we need a different facility,” he said, adding, “Obviously, the yachts will stay in East Boothbay, Maine.”

Bangor councilors applauded the effort.

“I think this is good for the region and good for Bangor,” Councilor Frank Farrington said.

Councilor Gerry Palmer agreed: “This seems to be a much better and higher use than just a gravel pit.”

Peter D’Errico, also a councilor, said he was “very pleased to hear about this development. I know how hard our economic development staff has worked with you to accomplish this thing. I’m really pleased to see that you’ve followed through.”

Though Jack Cashman, Gov. John Baldacci’s senior economic adviser, earlier said the company could provide about 200 jobs, Packhem said it was too early to provide a firm number.

Hampden Town Manager Susan Lessard said the town has yet to see a plan for the anticipated project. She added, however, “The technology is exciting, the involvement of the university is exciting, and the fact that they’re considering Hampden is exciting.”

BDN reporter Toni-Lynn Robbins contributed to this report.