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 in Tampa after Hillsborough County commissioners voted in favor of a new ballpark stadium deal.
During a meeting on Wednesday morning, county commissioners voted 5-2 to approve a new Rays stadium on the Hillsborough College Campus in Tampa.
Rays Chief Executive Officer Ken Babby provided this statement following today’s approval of the Memorandum of Understanding by the Hillsborough County Board of County Commissioners:
“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.”
Following the commissioners’ vote, the ballpark proposal heads to Tampa City Council for another key vote on Thursday.
The vote comes less than a week after the Rays, along with Hillsborough County and Tampa city officials, entered a non-binding agreement outlining a proposed financing plan for a new stadium.
Under the proposal, the total project is estimated to cost about $2.3 billion, with public funding capped at roughly $976 million.
The agreement lowers the public contribution from the more than $1 billion initially proposed by the Rays.
Hillsborough County would contribute up to $796 million, including:
$360 million from Community Investment Tax revenueMore than $260 million from tourist tax bonds$103 million from other county funding sources
The city of Tampa would contribute up to $80 million in Community Investment Tax funding, while the Community Redevelopment Agency would contribute about $100 million through bonds backed by future property tax growth generated by the development.
10 Tampa Bay News’ Kristen Barbaresi contributed to this report.