DEVELOPMENT LEASE AGREEMENT WITH CR AVIATION

Aviation and Seaport Committee · 2026-06-08 · resolution

Miami-Dade County is approving a Development Lease Agreement (DLA) with CR Aviation Leasing, LLC for a 222,870 square foot parcel at Miami Executive Airport. The agreement allows for the development of aviation hangar facilities and ancillary infrastructure. CR Aviation is required to invest a minimum of $4,000,000.00, with construction phased over 36 months. The county anticipates receiving an estimated $5,188,663.00 in rent and other revenue over the initial 30-year term, plus an additional $1,620,000.00 in improvement rent. The project includes demolition of existing buildings and construction of a 40,000 SF hangar. CR Aviation will also establish a workforce development program. The lease is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).