DEVELOPMENT LEASE AGREEMENT WITH CR AVIATION

Aviation and Seaport Committee · 2026-06-08 · resolution

Resolution approving a development lease agreement between Miami-Dade County and CR Aviation Leasing, LLC for a 222,870 square foot parcel at Miami Executive Airport. The project involves demolition of Buildings 109, 109A, and 109B and construction of a 40,000 square foot hangar with associated pavement, office space, and infrastructure. The lease term is 30 years with one five-year renewal option. Minimum investment is $4,000,000.00. Estimated rent and other revenue to the County is $5,188,663.00 over the initial term, plus $1,620,000.00 in improvement rent, totaling $6,808,663.00. The item was Amended at the Aviation and Seaport Committee on 6/8/2026. The amended version is Legislative File No. 261253. The resolution directs the County Mayor to seek approval from traffic and consulting engineers and the Federal Aviation Administration. The County will own all improvements upon completion. The project is expected to create approximately 225 temporary jobs and 25 permanent jobs. CR Aviation will establish an Apprenticeship Readiness Pipeline with George T. Baker Aviation Technical College. The land was valued at $2,600,000.00. Construction is phased: Phase 1 includes demolition of Building 109B and site work, with completion within 18 months of execution. Phase 2 includes demolition of Buildings 109 and 109A and hangar construction, with completion within 36 months of execution. The document does not state any public comment or stakeholder sentiment.