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 multiple 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 competitive solicitation process where Banc of America Public Capital Corp offered the lowest interest rates. The resolution waives a previous requirement for contracts to be finalized before agenda placement to allow for final negotiations. Senator Garcia indicated he would vote no. Vice Chairwoman Milian Orbis inquired about electric vehicles, and it was confirmed that 43 of the 787 vehicles would be electric. Commissioner Cohen Higgins questioned the cost-efficiency of leasing versus purchasing and requested a cost-benefit analysis, which was agreed to be provided.