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, with a minimum investment of $7,000,000.00 by MQ TMB. The lease term is 25 years with a five-year renewal option. The County anticipates an estimated $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 facility, 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 also committed to community benefits, including fuel donations and noise abatement efforts. The agreement incorporates various county ordinances related to small business enterprises, responsible wages, and construction contracts. Public comment is not stated in this document.