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 (TMB). The agreement, for a term of 25 years with a one-year renewal option, involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure. MQ TMB Holdings, LLC is required to make a minimum investment of $7,000,000.00. The project includes a fixed-base operator (FBO) terminal, aircraft hangars, fuel facilities, concession areas, parking, storage, maintenance and repair space, and a flight training school. The County anticipates projected revenue of $6,372,695.00 over the initial term. The development will occur in two phases, with Phase 1 completion expected within 36 months and Phase 2 within 60 months of the DLA execution. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).