TAMPA, Fla. — Tampa Bay Rays CEO Ken Babby fielded questions from city council Tuesday night on the team’s proposal for a new ballpark at Hillsborough College’s Dale Mabry campus.

“Are those funds that are earmarked solely for economic development?” Councilman Luis Viera asked during the meeting.

“How much of the CIT money would be bonded? What is the amount?” asked member Guido Maniscalco.

“Is the money specifically, is it only for the stadium?” asked Councilwoman Naya Young about the money the city is being asked to contribute to the project.

City council held a workshop Tuesday night to learn more about the plan the team says could bring in $55 billion in economic impact during a 30-year period. Money was on members’ minds — specifically, details of funds the city could hand over to build the stadium.

“Simply put, this is our moment,” Babby said during an opening presentation to council.

. @CityofTampa Council workshop on the proposed new @RaysBaseball stadium just got underway. @BN9 pic.twitter.com/KsObVzs3NN

— Sarah Blazonis (@SarahBlazonis) May 5, 2026

Babby called the proposal to build the new stadium “a generational opportunity.” In addition to tens of billions of dollars, he said the project, which also includes the redevelopment of HC’s campus, could create nearly 12,000 new jobs. The Rays are asking the city and county to cover about half of $2.3 billion for the ballpark. Where exactly that would come from is still being worked out. Community investment tax (CIT) dollars have come up as a possibility. Council members said there’s worry state cuts to sales tax on commercial leases could reduce CIT revenues, and some noted property taxes could be next on legislators’ chopping block.

“If the economy goes down and our CIT does not make it above three percent, how are you going to pay for that?” Councilwoman Lynn Hurtak asked Babby.

“We will get into the details of the financial agreement in the memorandum of understanding,” Babby said.

City Chief of Staff John Bennett told the council that stakeholders have been in talks for several months to work out details of that non-binding MOU. Because negotiations are ongoing, Babby and city staff said there were some funding questions that can’t be answered yet. For instance, while Tampa Chief Financial Officer Dennis Rogero told members a range of $80 million-$100 million in CIT funds could be bonded to help pay for the project, he said whether the team or city would pay the interest is under negotiation. 

Joe Greco, a member of the council’s Citizens Advisory Budget and Finance Committee, said the four members who attended the committee’s April meeting voted to ask council not to use CIT funds for the project at all.

“We want a motion made by (you all) to vote on this, is any use of CIT funds on the new stadium is a violation of taxpayer intent,” said Greco, who also noted the committee would like to see the public get to vote on whether to use CIT funds.

While some details are still uncertain, Babby did say he’s talked with police and fire representatives about making sure their departments won’t see an impact.

“I’ve given them my word, but contractually, we intend to give them so that they know that it is true, our commitment that money will not, cannot, shall not be taken from any public safety program,” he said.

Babby told the council the team is actively negotiating the MOU with the city and county, and he hopes that agreement will be completed this month.