2026 MASTER EQUIPMENT LEASE

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

Miami-Dade County Commission adopted Resolution R-474-26, approving the selection of 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 lease payments will be funded through annual budget appropriations, with interest rates ranging from 3.42% to 4.07%, valid until June 16, 2026. The resolution also waives a provision requiring contracts to be finalized before agenda placement to allow for final negotiations. Senator Garcia advised he would vote no. Vice Chairwoman Milian Orbis inquired about electric vehicles, and it was stated that 43 of the 787 vehicles are electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and requested a cost-benefit analysis, which was agreed to be provided.