2026 MASTER EQUIPMENT LEASE

Board of County Commissioners · 2026-06-02 · resolution

Miami-Dade County Board of County Commissioners adopted Resolution R-474-26, approving the selection of Banc of America Public Capital Corp to provide a lease/purchase of vehicles and equipment not to exceed $80,000,000.00. This financing will be utilized by multiple Miami-Dade County Departments and Constitutional Offices. The lease/purchase covers approximately 787 vehicles and equipment, including police vehicles, fire rescue and apparatus trucks, refuse trucks, and other light and heavy vehicles. The financing is for a one-year period, with lease payments starting October 1, 2026. Interest rates range from 3.42% to 4.07% and are valid until June 16, 2026. The resolution also waives provisions of Resolution No. R-130-06 to allow for the finalization of agreements after the resolution's adoption. Senator Garcia advised he would vote 'no'. Vice Chairwoman Milian Orbis inquired about electric vehicles, and it was stated that 43 of the 787 vehicles are electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and requested a cost-benefit analysis, which Mr. Baker agreed to follow up on.