Lease and redevelop Virginia Key marinas
Miami city · November 3, 2026
The question on your ballot
Shall City lease approximately 27.62 acres on Virginia Key to Virginia Key, LLC for: • 45-year initial term with two 15-year renewals; • Minimum annual guaranteed rent to City of $2,200,000 (with escalations) totaling approximately $203,980,000 over the initial term plus 6% of gross revenues; • Approximately $80,000,000 privately funded investment to redevelop existing Rickenbacker and Marine Stadium marinas in an environmentally sensitive manner, including boat storage, restaurants, retail, and public parking?
In plain language
A VoterDecoder summary of the official measure text.
The City of Miami would lease about 27.62 acres on Virginia Key to Virginia Key, LLC. The initial lease term would be 45 years, with two 15-year renewals. The city would receive minimum annual guaranteed rent of $2,200,000, with escalations, totaling about $203,980,000 over the initial term, plus 6% of gross revenues. The lessee would invest about $80,000,000 in private funds to redevelop the Rickenbacker and Marine Stadium marinas. A YES vote approves this lease. A NO vote does not.
Official ballot arguments
No official arguments were filed for or against this measure.
What supporters and opponents say — outside sources (not official ballot arguments)
Statements by campaigns, officials and news coverage, quoted with attribution and linked to the original. VoterDecoder did not write them and does not endorse either side.
Supporters say
No public statements in favor were found.
Opponents say
No public statements against were found.