DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

Miami-Dade County deferred a resolution approving a Development Agreement and a 99-year Lease Agreement with Pine Development, LLC for the construction of a 36-unit affordable housing development on County-owned property within the Metrorail right-of-way. The project is located near the Hialeah Metrorail Station. The projected revenue to the County is approximately $21,000,000.00. The development will be at the sole expense of the Developer, who will pay an annual development fee of $37,000.00 until the lease is executed, followed by annual rent of $37,000.00 for the first two years, increasing by 3% annually thereafter. The Federal Transit Administration has reviewed and concurred with the project. The Board waived requirements for public notification prior to the non-competitive lease.