TAMPA, Fla. — Hillsborough County approved a deal to bring the Rays Stadium to Tampa, one of several key votes to move the project forward.
The Hillsborough County Commissioners approved the non-binding Memorandum of Understanding at the May 20 meeting.
The Tampa Bay Rays Executive Officer, Ken Babby said in a statement:
We are grateful to the Hillsborough County Board of County Commissioners for its approval of the non-binding Memorandum of Understanding that authorizes staff to continue working with the Rays toward a definitive agreement that keeps this project, and Tampa Bay, moving forward. The Rays believe deeply in the power of a new ballpark, a reinvented Hillsborough College, and a privately financed mixed-use neighborhood that will positively shape our region well into the future. Today’s affirmative vote is excellent news for our community, but it is only the first of several crucial steps this week to keep the project on track and ultimately make it all come to life. For that, we are indebted to the Hillsborough County Board of County Commissioners and its staff for their diligence and commitment to serving the best interests of Tampa Bay, and we look forward to continued negotiations in our mutual goal to deliver an agreement that is fair and beneficial to all.
Officials described the agreement as a major milestone, though they repeatedly acknowledged significant work still remains before any stadium project becomes a reality.
The proposed project carries a roughly $2.3 billion price tag, including nearly $1 billion in public investment. The plan calls for a new Rays stadium alongside a large-scale mixed-use district featuring housing, retail and more.
Officials said the public funding package would rely on a combination of tourist tax dollars, community investment tax revenues and other county funding sources.
Leaders also repeatedly stressed the financing plan would not require raising taxes or reducing funding for existing city or county services.
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