Rays’ stadium deal puts nearly $1B in public money on table after county approval

TAMPA, Fla. - The next major step in the Tampa Bay Rays stadium push begins Thursday morning at Tampa City Hall.

City Council members are scheduled to vote at 9 a.m. on the first piece of Tampa’s proposed $180 million contribution to the project: $80 million from the city’s portion of the Community Investment Tax, a half-cent sales tax renewal that takes effect in December.

If that passes, council members are expected to meet again at 11 a.m. as the Drew Park Community Redevelopment Area board is considering the second piece: $100 million from the Drew Park CRA. That money would cover upfront costs and be paid back through future property tax growth in the redevelopment area.

City Council voting on Rays' stadium deal

The city’s two votes are tied to the nonbinding memorandum of understanding, or MOU, for a proposed new Rays ballpark on the Dale Mabry campus of Hillsborough College.

Together, the city’s $180 million share would join the county’s proposed $796 million contribution. The larger stadium project is estimated at $2.3 billion, with the Rays responsible for more than $1 billion and any cost overruns.

Supporters say the project would keep Major League Baseball in Tampa Bay, redevelop part of the Drew Park area and bring new investment to Hillsborough College.

Critics question the amount of public money involved and whether taxpayers would take on too much risk.

Commissioners approved the nonbinding MOU

What we know:

The city votes come one day after Hillsborough County commissioners approved their part of the nonbinding MOU in a 5-2 vote. The county’s share of the funding is listed at $796 million. County staff said public safety projects are protected from any impact.

County officials also said the project would need to be added to a list of eligible projects under the Community Investment Tax referendum voters approved in 2022 to avoid a legal challenge over the use of that money. That would require a public hearing process.

Later Wednesday, Hillsborough College trustees voted unanimously to lease 113 acres of school land to the Rays for 99 years. The school is depending on $150 million in the state budget to help build new campus buildings planned for the south-west corner of campus.

Under the lease, the college would also have the right to weigh in on the rest of the development, which the Rays say would include stores, restaurants, hotels and offices.

What we don't know:

The finalized budgeting is still unclear. Even if City Council approves both votes Thursday, the stadium deal would not be final.

The MOU is nonbinding and allows negotiators to keep working through remaining issues. Those include how maintenance projects would be funded, what protections would exist if private development does not happen, how construction quality and cost would be monitored, and what would be included in a community benefits agreement.

That community benefits agreement could focus on issues such as affordable housing, job guarantees and the types of businesses that will open around the project.