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. The project involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure, with a minimum investment of $7,000,000.00 by MQ TMB. The lease term is 25 years with a one five-year renewal option. The County anticipates projected revenue of $6,372,695.00 over the initial term. The development will occur in two phases, with specific milestones for plan submission, approvals, and construction completion. MQ TMB is required to invest $3,500,000.00 in each phase. The agreement also includes community benefits such as fuel donations to George T. Baker Aviation Technical College and measures to minimize noise impacts. The lease is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).