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 by MQ TMB. The lease term is 25 years with one five-year renewal option. The County anticipates an estimated $6,372,695.00 in projected 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 building and FBO terminal. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA). MQ TMB is a first-time leaseholder at this airport but is managed by individuals with extensive aviation and real estate development experience. The DLA includes provisions for community benefits, noise abatement, and various county ordinances related to small business enterprises, responsible wages, and construction contracts. Public comment is not stated in this document.