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 the construction of a fixed-base operator (FBO) terminal, three aircraft hangars (two 30,000 SF and one 15,000 SF), fuel facilities, concession areas, parking, maintenance and repair space, office 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 specific milestones for plan submission, permitting, and construction completion. MQ TMB Holdings, LLC is a first-time leaseholder at TMB, managed by individuals with aviation and real estate development expertise. The agreement also includes community benefit provisions, such as fuel donations to George T. Baker Aviation Technical College, and commitments to minimize noise impacts on surrounding communities. The DLA is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).