(a) Appropriate staff shall develop a mid-range plan consistent with the long-range plan. The mid-range plan must include:
(1) a five-year financial forecast addressing the financial needs and financing options of the authority for the five-year period, with information about the relative cost of the options;
(2) a five-year capital plan, including a preliminary analysis and prioritization of projects; and
(3) other detailed action plans as the port commission or staff finds necessary to achieve the goals of the mid-range plan or long-range plan.
(b) The staff shall present the mid-range plan in an open meeting of the port commission. The port commission is not required to adopt a mid-range plan.