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, for a term of 30 years with a five-year renewal option, will allow CR Aviation to develop aviation hangar facilities and ancillary infrastructure. This project requires a minimum investment of $4,000,000.00 by CR Aviation, with an estimated $5,188,663.00 in rent and other revenue due to the County over the initial term. The development will be phased, with Phase 1 construction completion within 18 months of DLA execution and Phase 2 completion within 36 months. The project includes demolition of existing buildings and construction of a 40,000 square foot hangar. CR Aviation will also implement a workforce development program in partnership with George T. Baker Aviation Technical College. The agreement is subject to conditions precedent, including approvals from MDAD's traffic and consulting engineers and the Federal Aviation Administration (FAA). The Aviation and Seaport Committee amended and forwarded the resolution with a favorable recommendation.