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 at Miami Executive Airport (TMB). 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 five-year renewal option. The County anticipates an estimated $6,372,695.00 in revenue over the initial term. The development will be completed in two phases, with Phase 1 construction expected within 36 months and Phase 2 within 60 months of lease execution. MQ TMB will also implement community benefits including fuel donations and noise mitigation efforts. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers, and the Federal Aviation Administration (FAA).