Solution:

Yes the wireless side can provide static DHCP leases. If you go to the WiFi AP module under User Modules, there are some menus on the left. If you click WLAN it will take you to a configuration similar to what is under LAN configuration. You can configure dynamic DHCP leases. Now what you are seeing here by default is the WLAN side is on a different subnet than the LAN side. You can have both on the same subnet and control the DHCP leases directly from the LAN configuration page. This would require to bridge both the LAN and WLAN interfaces together. To do this under WLAN interface there is a bridged option. Change it to enabled. Then go back to the main menu and then to LAN configuration. Change the bridged option to Enabled. Once this is done both the wireless and wired side will be on the same subnet and address will be configuration on the LAN configuration page.