The proposed new Rays ballpark cleared two important hurdles this week after Hillborough County and Tampa approved initial funding plans, but there is plenty of work to tackle in preparation of a final deal.
The votes came on Wednesday and Thursday, with the Hillsborough County Commission approving the initial funding plan on Wednesday and the Tampa City Council on Thursday. This is far from a final agreement, but rather a green light for the Rays, the city and the county to begin advanced discussions on a final financial arrangement. Local governments are asked to pay $967 million of the total cost of the $2.3 billion project, with Hillsborough County $796 million paying and the $180 million.
The negotiations between the city of Tampa, Hillsborough County and the Rays ended in a tentative deal fairly close to what was proposed by the Rays in early April. The cost of the new covered ballpark has not changed, but the government contribution was reduced from $1.065 billion to $967 million, with the Rays pledging to cover any cost overruns. Both bodies will be asked to grant final approval once a specific funding formula is reached. Potential funding sources include the half-cent county hotel/motel tourist sales tax (which, presumably, would be raised), community investment tax proceeds and community redevelopment tax-increment revenue bonds, but no new taxes are anticipated for fund the government share.
“The Tampa City Council today sent a strong and positive message to our community by approving the non-binding Memorandum of Understanding and saying ‘yes’ to a Forever Home ballpark and the generational transformation for Tampa Bay that will follow,” said Rays CEO Ken Babby via press release. “We appreciate the thoughtful engagement with City Council members and staff throughout this process, which from the start was focused on one common goal – arrive at an agreement that is smart, fair and a win for everyone. With this step complete, the Rays now look forward to working with Hillsborough County and the City of Tampa as we move toward final agreements that will secure Major League Baseball in Tampa Bay for current and future generations.”
In a related, though necessary act, the Hillsborough College Board of Trustees approved the ground lease for the new ballpark and associated development. The new Rays ballpark would anchor a new entertainment complex at the college, which would also see a redeveloped campus as part of the overall plan. An entertainment complex could have an economic impact beyond Rays game: the 113-acre Dale Mabry Campus of Hillsborough Community College is located south of Steinbrenner Field (spring-training home of the New York Yankees) and west of Raymond James Stadium (home of the NFL’s Tampa Bay Buccaneers), and the assumption that an entertainment district would draw fans for both Yankees spring training and Bucs games.
The plan divides the site into four quarters: A Champions Quarter containing the $2.3 billion ballpark at the corner of Dale Mabry and West Tampa Bay Boulevard; an Invention Edge housing the rebuilt Hillsborough College campus; The Row, a street running through the development; and The Canopy, open parkland marked by shade and greenery. The goal to create an environment that brings fan in early and keeps them after a game, while also attracting interest from Yankees and Buccaneers fans. If the plan seems familiar, it should be: this is the same exact blueprint the Atlanta Braves used to create Truist Park and The Battery mixed-use district in Cobb County.
The Rays would sign a 35-year lease with three five-year options at the end and include a nonrelocation clause. The team would manage the ballpark operations and cover repairs and insurance. The goal is a March 1, 2029 opening; the Rays’ Tropicana Field lease ends after the 2028 season.
Rendering courtesy Tampa Bay Rays.
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