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 the first phase expected to be completed within 36 months of the DLA execution and the second phase within 60 months. 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 new 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 on surrounding communities. The agreement is subject to various county ordinances and implementing orders related to construction, wages, and property conveyance.