Rays, Hillsborough College enter ‘Memo of Understanding’ to start developing stadium, campus plans

TAMPA, Fla. - The Tampa Bay Rays are a step closer to building a new stadium on the Tampa side of the bay. There was a vote at Hillsborough College (HC) on Tuesday that is the first step in that direction. 

What we know:

HC's Board of Trustees voted unanimously to enter into a "Memo of Understanding" on Tuesday. It is non-binding, but it allows for the two sides to work together on laying out, designing and funding the project.

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According to a rendering released by the Rays, the campus will be on the southwest side of the current property, while the stadium will be on the southeast side of the property, closest to Raymond James Stadium.

Students will get opportunities to work in some of the 12,000 jobs that the project is expected to create. If the Rays do get public funding for the stadium, the site will be property tax-free.

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What we don't know:

The Rays did not release many new details about the stadium, but they said they can now begin the process of figuring out how much it’s going to cost, and who is going to pay for it.

They still said they are working on how much the Rays will put forward, and how much they will ask for from the public, and from which entities. 

What they're saying:

HC's president sees it as a huge opportunity to bring the campus into the future. 

St. Pete Mayor Ken Welch also released the following statement after Tuesday's meeting: 

"We continue to have productive conservations with Rays' leadership regarding the teams' future plans, which could include extending the current use stadium agreement past 2028. I've met with the new leadership and it's clear they're working hard to repair the relationship and rebuild trust between the City and team. I appreciate their ongoing partnership and look forward to welcoming the Rays back to the renovated Tropicana Field stadium on opening day. 

The greater strategic priority, however, is the redevelopment of the Historic Gas Plant District. My administration will continue to prioritize and pursue outcomes that advance economic progress, reflect the needs and aspirations of our residents, and honors the promises made to the Historic Gas Plant Community." 

Dig deeper:

The Rays will also be responsible for building temporary buildings for students while construction is ongoing. In the end, HC will get about 600,000 square feet of learning space. 

The lease will go for 99 years.

What's next:

Now, the discussion will begin under the Memo of Understanding, and they will have six months to work out an agreement.