Miami Airport Seeks Joint Deal For Major Development
Written by Lou Ortiz on June 14, 2012
By Lou Ortiz
The Miami-Dade County Aviation Department is negotiating with a developer to build on 56.7 acres west of Miami International Airport that in land rents alone would generate nearly $2.9 million a year to the airport, officials said.
The land can accommodate hotels, office buildings, industrial uses — such as storage, distribution and manufacturing — and retail establishments, including restaurants, according to documents filed with the County Regional Transportation Committee.
The land is just outside the airport’s fence line near Milam Dairy Road.
Associate Aviation Director Tony Quintero said the county had been negotiating with the unnamed developer about the land for two years before talks cooled during the recession. "Now," he said, "we’re having more negotiations and we need to change the zoning."
Mr. Quintero said the development would be a partnership between the county and the developer that could yield the Aviation Department an additional 3% in revenue from the profits of the commercial establishments.
He said the department is seeking to commercialize non-aviation land in and around the airport to help make debt repayments and "take the burden off airlines paying landing fees."
According to documents filed with the Regional Transportation Committee, "The projected revenue for the Miami-Dade Aviation Department is a combination of the annual fair market value of land rents currently estimated at $2,885,403 per year plus additional revenue based upon a negotiated percentage of the gross revenue. The negotiated percentage of the gross revenue is expected to be in the 3% range."
The committee unanimously endorsed an ordinance June 11 to permit the developments. The measure is to go to the full commission for action either June 19 or July 3.To read the entire issue of Miami Today online, subscribe to e -Miami Today, an exact digital replica of the printed edition.