DEVELOPMENT LEASE AGREEMENT WITH MQ TMB HOLDINGS

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

Miami-Dade County is approving a Development Lease Agreement (DLA) with MQ TMB Holdings, LLC for a 310,026 square foot parcel of land at Miami Executive Airport. The project involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure, with a minimum investment of $7,000,000.00. The lease term is 25 years with a five-year renewal option. The Aviation and Seaport Committee recommended forwarding the resolution to the Board of County Commissioners with amendments. The project is subject to conditions precedent, including approval from traffic and consulting engineers and the Federal Aviation Administration (FAA). MQ TMB will invest $7,000,000.00 in a two-phased development, including hangars, FBO terminal, fuel facilities, and a flight training school. The County anticipates receiving $6,372,695.00 in revenue over the initial term. MQ TMB will also provide community benefits through donations to George T. Baker Aviation Technical College based on fuel sales and will work to minimize noise impacts.