DLA WITH MQ TMB HOLDINGS LLC

Board of County Commissioners · 2026-07-21 · resolution

The Board of County Commissioners adopted Resolution R-610-26 (File No. 261252) approving a 25-year Development Lease Agreement with one five-year renewal option between Miami-Dade County as landlord and MQ TMB Holdings, LLC as tenant and developer for a 310,026 square foot parcel at Miami Executive Airport (TMB). The project includes development of aviation hangar facilities, a taxi lane, and ancillary infrastructure, with a minimum investment of $7,000,000.00 and an estimated $6,372,695.00 in projected revenue to the County over the initial term. The resolution directs the County Mayor to seek approval from traffic and consulting engineers and the Federal Aviation Administration as conditions precedent. The Aviation and Seaport Committee forwarded the item with a favorable recommendation on June 8, 2026, with amendments adding whereas clauses about RER's dedicated permitting staff and expedited review timeframes. The Board adopted the resolution on July 21, 2026. The development site is located north of the entrance road at SW 128 Street and east of SW 138 Avenue. The project will be built in two phases: Phase 1 includes one 30,000 SF aircraft storage hangar and one 15,000 SF aircraft storage hangar with associated office space, ramp and vehicle parking, with construction completion within 36 months of execution; Phase 2 includes one 30,000 SF hangar/building for an aviation school, maintenance, and training, plus one FBO terminal, with construction completion within 60 months of execution. MQ TMB is a first-time leaseholder at TMB. The County will own all improvements upon completion. The project is expected to create over 60 temporary construction jobs and more than 30 permanent jobs. MQ TMB will provide a Community Benefit through private agreements with George T. Baker Aviation Technical College, donating per gallon of fuel sold. MQ TMB agrees to work with FAA, County, and MDAD's Noise Abatement Advisory Board to minimize noise impacts. The land was valued at $2,000,000.00. The lease term is 25 years with one five-year renewal option. The land rent is $0.37 per square foot for 310,026 SF, totaling $9,559.14 per month ($114,709.62 annually). Improvement rent starts in year 6 at 1% of $7,000,000.00 ($70,000.00 per year), increases to 1.5% ($105,000.00 per year) in year 12, and to 2% ($140,000.00 per year) in year 21. The estimated land rent revenue is $4,307,695.00 and improvement rent is $2,065,000.00 over the initial term. The resolution references original item under File No. 260691. The item was introduced on July 7, 2026, and the final action was July 21, 2026. The sponsor is Commissioner Roberto J. Gonzalez. The requester is the Aviation Department. The document states the project is in District 11, represented by Commissioner Roberto J. Gonzalez, but the impact is countywide as TMB is a regional asset.