SAN DIEGO -- The Port Commission unanimously voted to obtain a Navy pier as a berthing place for the decommissioned USS Midway, an aircraft carrier slated to be turned into a floating museum.

The organization that wants to turn the Midway into a museum still lacks Navy approval to take possession of the decommissioned warship, but the vote secures a berth once negotiations are complete, the San Diego Union-Tribune reported.

The secretary of the Navy was given the authority to transfer title of the 6.4-acre pier to the nonprofit San Diego Aircraft Museum group under Federal legislation passed last year, the newspaper reported.

The group had the option of taking title of the pier, located on San Diego's North Embarcadero, or transferring ownership to another agency. It decided to transfer ownership of Navy Pier to the port for $1, according to the Union-Tribune.

Using an $8 million grant obtained from the state Department of Boating and Waterways, the port will now begin planning how to go about repairing the pier, the newspaper reported.

Port officials estimate the cost to renovate and repair the pier will be $9.65 million.

If negotiations with the Navy to secure the aircraft carrier are successful, the San Diego Aircraft Museum group plans to tow the ship, currently docked in Bremerton, Wash., to San Diego by July 4, the newspaper reported.

During Tuesday's proceedings, the port also voted unanimously to grant the nonprofit a 12-month option period to negotiate a 40-year lease to dock the Midway at Navy Pier once the port has had it renovated.

In order to obtain the lease, the group must meet a number of conditions, the Union-Tribune reported. It must provide proof that it has at least $2 million in capital and must supply a $500,000 letter of credit.

The museum group must also provide an engineer's report showing the Midway is safe for public boarding and meets environmental requirements, according to the Union-Tribune.

The USS Midway was the largest warship in the world for 10 years after it was commissioned in 1945. The aircraft carrier saw action during the Vietnam War and the Gulf War before being decommissioned in 1992.