{"id":225342,"date":"2026-04-09T20:41:23","date_gmt":"2026-04-09T20:41:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/225342\/"},"modified":"2026-04-09T20:41:23","modified_gmt":"2026-04-09T20:41:23","slug":"rays-tampa-outline-2-3b-stadium-framework","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/225342\/","title":{"rendered":"Rays, Tampa outline $2.3B stadium framework"},"content":{"rendered":"

The Tampa Bay Rays<\/a> and Hillsborough County, the City of Tampa and related agencies have outlined a framework for a $2.3 billion ballpark and mixed-use development at Hillsborough Community College\u2019s Dale Mabry campus, with a June 1, 2026 deadline to finalize binding agreements.<\/p>\n

The Memorandum of Understanding brings together the Rays, Hillsborough County, the City of Tampa, the Tampa Sports Authority and the Community Redevelopment Agency Board around a plan to open a new stadium by the 2029 season. <\/p>\n

It establishes the project\u2019s funding structure and approval path, while leaving final agreements and financing steps outstanding.<\/p>\n

The project has an estimated cost of $2.3 billion. The Rays would contribute at least $1.235 billion<\/a> and cover any cost overruns. <\/p>\n

Public participation would be capped at $1.065 billion, split among county, city and tax increment revenues tied to the Drew Park CRA.<\/p>\n

The public funding stack includes tourist development tax bonds backed by hotel taxes, community investment tax revenues and CRA-backed financing tied to the surrounding district. <\/p>\n

READ MORE LOCAL NEWS<\/a><\/p>\n

Additional funding could come from federal disaster recovery reimbursements administered through HUD. <\/p>\n

The framework states that no new taxes would be created and includes a \u201cdo no harm\u201d provision intended to protect existing funding for police, fire and emergency services.<\/p>\n

The plan ties the stadium to a broader redevelopment of the Dale Mabry campus, combining academic facilities, infrastructure upgrades and private mixed-use development. <\/p>\n

Hillsborough Community College<\/a> would temporarily relocate during construction and then return to a redesigned campus integrated into the district.<\/p>\n

Project estimates point to $34 billion in direct economic activity over 30 years, with an additional $21.5 billion in indirect impact. The plan projects 11,900 permanent jobs and roughly 40,000 full-time equivalent positions.<\/p>\n

Under the proposed lease, the Rays would operate and maintain the ballpark for an initial 35-year term, with options to extend up to 15 additional years. The agreement also includes a non-relocation commitment.<\/p>\n

The Rays would assume responsibility for maintenance, insurance and compliance with Major League Baseball standards. Public agencies would coordinate traffic, parking and infrastructure planning, with engineering teams developing transportation strategies tied to game-day operations and surrounding development.<\/p>\n

Several approvals remain. City Council, the County Commission and the CRA Board must approve final agreements, Major League Baseball must sign off on the stadium and public bond financing must be validated.<\/p>\n

In a statement, Rays CEO Ken Babby<\/a> described the memorandum as \u201can important step forward\u201d and noted ongoing negotiations as the project moves toward definitive agreements.<\/p>\n

The timeline now centers on whether those agreements are completed within the next 14 months. Missing the June 2026 deadline would push the opening beyond 2029 and introduce additional financing and construction risk.<\/p>\n

Stay Informed<\/p>\n

\n Stay up to date on Tampa Bay<\/a> business<\/a> news<\/a>, executive profiles and the companies shaping the region.\n <\/p>\n

\n\tRelated\n<\/p>\n

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