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 expected within 18 months of DLA execution and Phase 2 completion within 36 months. CR Aviation will also implement a workforce development program, contributing annually to apprenticeship initiatives. The project is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA). The Aviation and Seaport Committee amended and favorably recommended the resolution.