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 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, 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 completion of Phase 1 expected within 36 months and Phase 2 within 60 months of the DLA execution. MQ TMB will also implement community benefits through fuel donations to George T. Baker Aviation Technical College and will work to minimize noise impacts on surrounding communities. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).