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2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The lease payments will be funded through the FY 2025-26 budget. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection process involved a request for proposals, and Banc of America Public Capital Corp offered the most favorable terms and lowest interest rates, ranging from 3.42% to 4.07%. The resolution also waives a previous resolution requiring contracts to be finalized before agenda placement to allow for final negotiations. Closing is anticipated around June 16, 2026.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the most favorable terms. The resolution waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. 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 would be electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and offered to work with staff on a cost-benefit analysis.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the most favorable terms. The resolution waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. 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 would be electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and offered to work with staff on a cost-benefit analysis.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The lease payments will be funded through the FY 2025-26 budget, with interest rates ranging from 3.42% to 4.07%. The selection process involved a request for proposals, and Banc of America Public Capital Corp offered the most favorable terms. The resolution also waives a previous resolution requiring contracts to be finalized before agenda placement to allow for final negotiations.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals where Banc of America Public Capital Corp offered the lowest interest rates. The resolution waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. During committee review, a question was raised about the inclusion of electric vehicles, with confirmation that 43 of the 787 vehicles would be electric. Another commissioner inquired about the cost-efficiency of leasing versus purchasing fleet vehicles, and the department agreed to provide a cost-benefit analysis.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County Board of County Commissioners adopted Resolution R-474-26, approving the selection of Banc of America Public Capital Corp to provide up to $80,000,000 for a lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The lease payments will be funded through annual budget appropriations. 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 would be electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and requested a cost-benefit analysis, which was agreed to be provided.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider), Miami-Dade County (Requester)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp (BAPCC) to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with BAPCC offering the most favorable terms and lowest interest rates, ranging from 3.42% to 4.07%, valid until June 16, 2026. Lease payments will begin on October 1, 2026. The resolution also waived a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. No public comment was noted in the document.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County Board of County Commissioners adopted Resolution R-474-26, approving the selection of Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The lease payments will be funded through annual budget appropriations. The financing is for police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. Senator Garcia voted no on the item. 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.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the lowest interest rates. The resolution waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. During a committee meeting, a question was raised about the inclusion of electric vehicles, with confirmation that 43 of the 787 vehicles would be electric (sedans and light trucks), but no electric buses. Another commissioner inquired about the cost-efficiency of leasing versus purchasing fleet vehicles, and the department agreed to provide a cost-benefit analysis.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The resolution was adopted on June 2, 2026. During a committee meeting, a question was raised about the inclusion of electric vehicles, with confirmation that 43 of the 787 vehicles would be electric, primarily sedans and light trucks. Another commissioner inquired about the cost-efficiency analysis between leasing and purchasing, and the department agreed to follow up.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection was based on a request for proposals where Banc of America Public Capital Corp offered the lowest interest rates, ranging from 3.42% to 4.07%, valid until June 16, 2026. The resolution also waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. Lease payments will begin October 1, 2026.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The lease/purchase will finance assets including police vehicles, fire rescue apparatus trucks, and refuse trucks, with lease payments to be included in the FY 2025-26 budget. The selection followed a competitive request for proposals, with Banc of America Public Capital Corp offering the most favorable terms and lowest interest rates, ranging from 3.42% to 4.07%. The resolution also waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. Closing is anticipated around June 16, 2026.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp (BAPCC) to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with BAPCC offering the lowest interest rates (ranging from 3.42% to 4.07%) and most favorable terms. The resolution authorizes the County Mayor or designee to finalize agreements consistent with the commitment letter. A waiver of Resolution No. R-130-06 was also approved to allow for final contract execution after the resolution's effective date. Lease payments are scheduled to begin October 1, 2026.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County Board of County Commissioners adopted Resolution R-474-26 (File Number 260698) on June 2, 2026, approving the selection of Banc of America Public Capital Corp (BAPCC) as the lease provider for a master equipment lease in an amount not to exceed $80,000,000. The lease/purchase will finance approximately 787 vehicles and equipment for multiple Miami-Dade County departments and constitutional offices, including police vehicles, fire rescue and apparatus trucks, refuse trucks, and other light and heavy vehicles. The financing is countywide. The resolution also approves the terms of the related commitment letter, waives Resolution No. R-130-06, and authorizes the County Mayor or designee to take all actions necessary to consummate the lease/purchase. The interest rates offered by BAPCC range from 3.42 percent to 4.07 percent, valid until June 16, 2026. Closing is anticipated on or about June 16, 2026. The Intergovernmental and Economic Impact Committee forwarded the item to the Board with a favorable recommendation on May 13, 2026. The request for proposals was disseminated on February 26, 2026, and six proposals were received on March 18, 2026. The document does not state any public comment or stakeholder sentiment.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Office of Management and Budget; County Mayor Daniella Levine Cava; Banc of America Public Capital Corp (BAPCC)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the most favorable terms and lowest interest rates, ranging from 3.42% to 4.07%. The resolution also waives a previous resolution requiring contracts to be finalized before agenda placement to allow for final negotiations. Lease payments will begin on October 1, 2026.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
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.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp (BAPCC) to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with BAPCC offering the lowest interest rates (ranging from 3.42% to 4.07%) and most favorable terms. The lease payments will be funded through the FY 2025-26 budget, with the first payment due October 1, 2026. The resolution also waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the lowest interest rates, ranging from 3.42% to 4.07%, valid until June 16, 2026. Lease payments will begin October 1, 2026. The resolution also waived a provision requiring contracts to be finalized before agenda placement to allow for final negotiations.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the lowest interest rates. The resolution also waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. During a committee meeting, a question was raised about the inclusion of electric vehicles, with confirmation that 43 of the 787 vehicles would be electric. Another commissioner inquired about the cost-efficiency of leasing versus purchasing fleet vehicles and offered to work with staff to obtain a cost-benefit analysis. Senator Garcia advised he would vote no on the item.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp (Lease Provider)
2026 MASTER EQUIPMENT LEASE
Miami-Dade County approved a resolution to select Banc of America Public Capital Corp for a lease/purchase agreement not to exceed $80,000,000. This financing will cover approximately 787 vehicles and equipment for multiple county departments and constitutional offices. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the most favorable terms. The lease payments are to be included in the FY 2025-26 budget. During a committee meeting, a question was raised about the inclusion of electric vehicles, with confirmation that 43 out of 787 vehicles would be electric (sedans and light trucks), and no electric buses were included. Another commissioner inquired about the cost-efficiency analysis between leasing and purchasing fleet vehicles, and the department agreed to follow up with this information. Senator Garcia advised he would vote no on the item.
- Board:
- Board of County Commissioners
- Date:
- 2026-06-02
- Type:
- Resolution
- Decision:
- Adopted
- Applicant:
- Banc of America Public Capital Corp
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