DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

Miami-Dade County deferred a resolution approving a Development and Lease Agreement with Pine Development, LLC for an affordable housing project. The project involves developing 36 units on 1.24 acres of county-owned property within the Metrorail right-of-way near the Hialeah Metrorail Station. The agreement includes a 99-year lease with projected county revenue of approximately $21,000,000.00 in development fees and rental income. The developer will pay an annual development fee of $37,000 until the lease is executed, followed by annual rent of $37,000 for the first two years, increasing by 3% annually thereafter. The Federal Transit Administration has reviewed and concurred with the project. The resolution waives public notification requirements for the non-competitive lease of county-owned property. The Housing Committee deferred the item on 7/14/2026.