{"id":704,"date":"2026-05-15T18:35:00","date_gmt":"2026-05-15T18:35:00","guid":{"rendered":"https:\/\/tampamovingjournal.com\/?p=704"},"modified":"2026-05-15T18:35:00","modified_gmt":"2026-05-15T18:35:00","slug":"rays-tampa-leaders-shed-light-on-2-3b-proposed-ballpark","status":"publish","type":"post","link":"https:\/\/tampamovingjournal.com\/?p=704","title":{"rendered":"Rays, Tampa leaders shed light on $2.3B proposed ballpark"},"content":{"rendered":"<div> <!-- --><\/p>\n<p><span><strong>TAMPA, Fla.<\/strong> &#8211; <\/span>Bay Area leaders met at Old Tampa City Hall on Friday to discuss a new memorandum of understanding for a $2.3 billion Tampa Bay Rays ballpark project.<\/p>\n<p>Read more <a href=\"https:\/\/tampamovingjournal.com\/?p=702\">Julio Foolio murder: Jury reaches verdict in penalty phase for 4 men convicted of killing Florida rapper<\/a><\/p>\n<p> <!-- --><\/p>\n<p>Mayor Jane Castor, Hillsborough County Commission Chairman Ken Hagan and Rays CEO Ken Babby spoke about the West Tampa proposal.<\/p>\n<p>The Hillsborough County Board of Commissioners will take up the topic of the memorandum of understanding on Wednesday, May 20, around 10: 15 a.m.<\/p>\n<p> <!-- --><\/p>\n<h2>Confidence in memorandum vote<\/h2>\n<p> <!-- --><\/p>\n<div><\/div>\n<p> <!-- --><\/p>\n<p>Major Jane Castor said she believed the memorandum would pass without any trouble. The non-binding agreement would continue in the process of the proposed stadium plans.<\/p>\n<p> <!-- --><\/p>\n<p>&#8220;It\u2019s a non-binding memorandum, it says we have crafted the basics of an agreement. For the board to vote no would be a mistake,&#8221; Mayor Castor said.<\/p>\n<p> <!-- --><\/p>\n<p>&#8220;It is a transformation project for the entire region,&#8221; Mayor Castor added.<\/p>\n<p> <!-- --><\/p>\n<p>Officials say approval from the board of the non-binding MOU will neither change the County&#8217;s current budget, nor create binding future commitments.<\/p>\n<p> <!-- --><\/p>\n<h2><strong>Tampa stadium funding<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>What we know:<\/p>\n<p> <!-- --><\/p>\n<p>The proposed $2.3 billion project includes a 31,000-seat enclosed stadium and the redevelopment of more than 100 acres for housing, offices and retail.<\/p>\n<p> <!-- --><\/p>\n<p>According to the memorandum of understanding released Thursday, the Tampa Bay Rays would contribute approximately $1.27 billion, covering about 55% of the total cost and any construction overruns.<\/p>\n<p> <!-- --><\/p>\n<p>The combined public contribution from the city and county is estimated at $976 million, with the county paying $796 million and the city providing $180 million.<\/p>\n<p> <!-- --><\/p>\n<p>Officials said no new taxes will be created, with funding instead coming from tourist development tax bonds, Community Investment Tax contributions and federal disaster recovery funds for infrastructure.\u00a0<\/p>\n<p> <!-- --><\/p>\n<p>Ken Hagen also stated that the deal may adopt a hybrid model of financing. According to the current MOU, it would include a commitment of up to $360 million in Community Investment Tax (CIT) funds, $303 million in 6th percent Tourist Development Tax (TDT) bond proceeds and reserve funds, $103 million in appropriations from various reserves and $30 million in CDBG-DR funding.\u00a0<\/p>\n<p> <!-- --><\/p>\n<h2><strong>Pending deal hurdles<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>What we don&#8217;t know:<\/p>\n<p> <!-- --><\/p>\n<p>While the memorandum of understanding marks a major step, the Hillsborough County attorney noted the agreement is currently nonbinding and many issues remain pending before final documents are approved.<\/p>\n<p>Read more <a href=\"https:\/\/tampamovingjournal.com\/?p=698\">Trump says White House ballroom construction ahead of schedule; here\u2019s when it will be completed<\/a><\/p>\n<p> <!-- --><\/p>\n<p>It is also unclear if the Florida Legislature will approve the $150 million in state budget funds currently being discussed in a special session to help rebuild the college campus. Ken Babby said the state is looking closely at the memorandum and agreements with the Rays and the City of Tampa.<\/p>\n<p> <!-- --><\/p>\n<p>When asked what the largest hurdle the Rays had to overcome to reach this tentative deal, Ken Babby stated it was a united front that was needed to reach it.<\/p>\n<p> <!-- --><\/p>\n<p>&#8220;By the end, I think we reached a fair framework,&#8221; Babby explained.<\/p>\n<p> <!-- --><\/p>\n<h2><strong>West Tampa redevelopment<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>The backstory:<\/p>\n<p> <!-- --><\/p>\n<p>Several weeks ago, the Rays organization and county commissioners negotiated dozens of sticking points from a previous draft of the deal.<\/p>\n<p> <!-- --><\/p>\n<p>The current plan goes beyond a stadium, aiming to transform surface parking lots and aging buildings on the Hillsborough Community College campus into a rebuilt academic facility surrounded by 120 acres of new development.<\/p>\n<p> <!-- --><\/p>\n<h2><strong>Local taxpayer impact<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>Why you should care:<\/p>\n<p> <!-- --><\/p>\n<p>The agreement includes what officials call the largest community benefits agreement in the history of the city and county. This includes investments in local hiring, youth programs and workforce development.<\/p>\n<p> <!-- --><\/p>\n<p>Tampa City Councilman Alan Clendenin said city staff worked to ensure the city&#8217;s $180 million contribution would be recoverable through increased property values and revenue created by the project.<\/p>\n<p> <!-- --><\/p>\n<p>Ken Hagen also emphasized that local taxpayers would not see a tax increase, rather a focus on tourist tax dollars \u2014 among other funding plans.<\/p>\n<p> <!-- --><\/p>\n<h2><strong>Public safety protections<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>What they&#8217;re saying:<\/p>\n<p> <!-- --><\/p>\n<p>The Rays released a statement emphasizing that the deal protects public funding for essential services.<\/p>\n<p> <!-- --><\/p>\n<p>The organization said it was &#8220;paramount&#8221; to reach an agreement that does not reduce funding currently allocated to police, fire rescue, or emergency management. Councilman Clendenin added that the investment is &#8220;remarkable&#8221; and that the county commissioners &#8220;drove a hard bargain&#8221; to protect taxpayers.<\/p>\n<p> <!-- --><\/p>\n<h2><strong>Upcoming project votes<\/strong><\/h2>\n<p> <!-- --><\/p>\n<p>What&#8217;s next:<\/p>\n<p> <!-- --><\/p>\n<p>The project must now go before local government bodies for public votes. Hillsborough County commissioners are expected to place the item on their agenda for Wednesday, May 20.<\/p>\n<p> <!-- --><\/p>\n<p>The Tampa City Council could then vote on the project on Thursday, May 21.<\/p>\n<p> <!-- --><\/p>\n<p>If approved, the goal is to have the stadium open for the 2029 baseball season and create approximately 7,500 jobs through the surrounding developments.<\/p>\n<p>Read more <a href=\"https:\/\/tampamovingjournal.com\/?p=695\">Electric kettles sold at HomeGoods recalled due to burn risk<\/a><\/p>\n<p> <!-- --> <!-- --> <!-- --> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bay Area leaders met at Old Tampa City Hall on Friday to discuss a new memorandum of understanding for a $2.3 billion Tampa Bay Rays ballpark project.<\/p>\n","protected":false},"author":1,"featured_media":703,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[183,13],"tags":[185,14],"class_list":["post-704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rays-stadium-plans","category-tampa","tag-rays-stadium-plans","tag-tampa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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