The vote comes less than a week after the Rays, along with Hillsborough County and Tampa city officials, entered a non-binding agreement.

TAMPA, Fla. — The Tampa Bay Rays are one step closer to a new home after Tampa City Council voted Thursday to approve a non-binding framework agreement for a proposed stadium project.

Council members voted 4-3 in favor of the Memorandum of Understanding (MOU) after hours of public comment. It comes just a day after Hillsborough County commissioners also voted in favor of the agreement.

“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,” Rays Chief Executive Officer Ken Babby said in a statement.” 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.”

The proposed project would bring a new Rays stadium to part of the Hillsborough College Dale Mabry campus in Tampa. Under the agreement, the total project is estimated to cost about $2.3 billion, with public funding capped at roughly $976 million.

The deal lowers the public contribution from the more than $1 billion initially proposed by the Rays.

Hillsborough County would contribute up to $796 millionThe City of Tampa would contribute up to $80 millionThe Community Redevelopment Agency would contribute about $100 million through bonds backed by future property tax growth generated by the development

The county’s contribution includes:

$360 million from Community Investment Tax revenueMore than $260 million from tourist tax bonds$103 million from other county funding sources

The Rays would be responsible for the remaining costs, which must total at least as much as the public contribution, along with any cost overruns.

The MOU also states Community Investment Tax money can only be used if the city and county formally approve the stadium project as a “public facility” following public hearings.

Tampa Mayor Jane Castor released a statement Thursday following the city council vote.

“I want to thank the Council for their thoughtful deliberation. This MOU moves us to the next stage of negotiations with the protections Tampa taxpayers deserve,” Castor wrote. “We are committed to getting the details right — a world-class ballpark and development that drives real economic growth and opportunity for our entire community, not just on game days. The hard work starts now, and I’m confident we’re up to the task.”