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 5-year renewal option, involves the development of aviation hangar facilities and ancillary infrastructure. CR Aviation is required to invest a minimum of $4,000,000.00, with an estimated $5,188,663.00 in rent and other revenue due to the County over the initial term. The project includes demolition of existing buildings and construction of a 40,000 square foot hangar. The Aviation Department estimates a total projected revenue of $6,808,663.00 to the County. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA). CR Aviation will also implement a workforce development program with George T. Baker Aviation Technical College. The Aviation and Seaport Committee forwarded the resolution with a favorable recommendation, passing 5-0.