TAMPA, Fla. — Hillsborough County commissioners are expected to discuss a proposed new baseball stadium for the Tampa Bay Rays at their meeting on Wednesday, according to a preview of the meeting agenda that outlines early financial concepts for the project.
The agenda makes clear that no agreement has been reached on public funding for a new stadium. It also states the discussion will serve only as a brief update and not a recommendation for future action, and that no general county revenue is being considered at this stage.
Watch report from Erik Waxler
Last month, the Hillsborough College Board of Trustees approved an agreement with the Rays to explore redevelopment of the college’s Dale Mabry campus, a plan that could include construction of a new ballpark and surrounding development.
The county commission agenda says the Rays have expressed their intent to cover at least half of the stadium construction costs. The remaining portion, according to the agenda, could be funded through public sources.
Those potential sources listed in the agenda include tourist development taxes, corporate income tax revenue, community redevelopment agency funding, hotel special assessment fees, and facility rent charges.
Economist Geoffrey Propheter of the University of Colorado Denver, who studies stadium financing deals nationwide, said the percentage breakdown matters less than the overall cost and public impact.
“50% of a gazillion dollars is still a lot of money. Even if it’s 5% of a gazillion dollars, the question is, could we do something else with this money that makes us better off than this option?" said Propheter.
Propheter said community redevelopment agency funding is commonly used for stadium projects, but questioned its inclusion in this case.
“With Florida’s Governor and legislature pushing for a repeal or eliminating non-school property taxes, it’s kind of curious to have that on the revenue hit list when you are in the same breath eliminating it.”
According to the agenda, Hillsborough County, the city of Tampa, and the Tampa Sports Authority are expected to receive additional information for analysis. A term sheet outlining potential financial details would eventually be presented to county commissioners.
Gov. Ron DeSantis is scheduled to hold a news conference on Tuesday at Hillsborough College. The Tampa Bay Times reports Major League Baseball Commissioner Rob Manfred is expected to attend.
DeSantis has publicly supported the Rays-Hillsborough College relationship. While the governor has said the state will not finance stadium construction, he has indicated it could assist with infrastructure improvements related to the project.
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