PORTLAND, Maine — A huge tank to hold 100,000 pounds of live lobsters will be built on the Maine State Pier if the Portland City Council approves leasing part of the large shed at the end of the city-owned pier.

The council will vote Monday on whether to lease the pier to Ready Seafood Co. for $100,000 a year. The company wants to move from its spot on Hobson’s Wharf and double its space for wholesaling, packinging, shipping and processing.

Council member Cheryl Leeman told the Portland Press Herald the deal is a perfect fit for the company and the city.

An earlier plan for a $100 million development including shops, offices, hotel and cruise ship berth at the pier fell through last year when the developer pulled out, citing the economic downturn.