DEVELOPMENT LEASE AGREEMENT WITH MQ TMB HOLDINGS

Aviation and Seaport Committee · 2026-06-08 · resolution

Miami-Dade County is approving a Development Lease Agreement (DLA) with MQ TMB Holdings, LLC for a 310,026 square foot parcel of land at Miami Executive Airport (TMB). The agreement, for a term of 25 years with a one-year renewal option, involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure. MQ TMB Holdings, LLC is required to make a minimum investment of $7,000,000.00. The project includes a fixed-base operator (FBO) terminal, aircraft hangars, fuel facilities, concession areas, parking, storage, maintenance and repair space, and a flight training school. The County anticipates an estimated $6,372,695.00 in projected revenue over the initial term. The development will occur in two phases, with Phase 1 completion targeted within 36 months and Phase 2 within 60 months of the DLA execution. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA). MQ TMB Holdings, LLC is a first-time leaseholder at TMB, managed by individuals with aviation and real estate development expertise. The DLA also includes provisions for community benefits, such as fuel donations to George T. Baker Aviation Technical College, and measures to minimize noise impacts.