2026 MASTER EQUIPMENT LEASE

Board of County Commissioners · 2026-06-02 · resolution

Miami-Dade County approved a resolution to select Banc of America Public Capital Corp to provide up to $80,000,000 for the lease/purchase of approximately 787 vehicles and equipment for various county departments and constitutional offices. The financing will cover police vehicles, fire rescue apparatus, refuse trucks, and other light and heavy vehicles. The selection followed a request for proposals, with Banc of America Public Capital Corp offering the most favorable terms and lowest interest rates, ranging from 3.42% to 4.07%. Lease payments will begin October 1, 2026. During committee review, Senator Garcia advised he would vote no. Vice Chairwoman Milian Orbis inquired about electric buses and vehicles, and Mr. Baker confirmed no electric buses were included, but 43 of the 787 vehicles were electric (sedans and light trucks). Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and offered to work with staff on a cost-benefit analysis. The resolution was adopted by the Board of County Commissioners.