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 at Miami Executive Airport (TMB). The project involves developing aviation hangar facilities, a taxi lane, and ancillary infrastructure. MQ TMB Holdings, LLC will invest a minimum of $7,000,000.00. The lease term is 25 years with a five-year renewal option. The county anticipates $6,372,695.00 in revenue over the initial term. The development will occur in two phases, with the first phase including hangars, office space, and infrastructure, and the second phase including an aviation school, maintenance facilities, and an FBO terminal. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers, and the Federal Aviation Administration (FAA). MQ TMB Holdings, LLC is required to comply with various county ordinances related to small business enterprises, responsible wages, and construction. The project is expected to create over 60 temporary construction jobs and more than 30 permanent jobs.