The Hillsborough County Commission<\/a> is set to take up the agreement May 20, with the Tampa City Council<\/a> following May 21. Behind those votes is a June 1 deadline the Rays have set to keep alive their goal of opening a new ballpark by 2029, when the team\u2019s lease at Tropicana Field expires.<\/p>\n I spoke with Rays CEO Ken Babby to talk through the MOU \u2014 the public funding structure, the carve-outs protecting police and fire dollars, the Hillsborough College<\/a> piece, and why he sees this as a regional play that reaches well beyond baseball.<\/p>\n Q: The MOU is now public. What should people take away from it?<\/p>\n Babby: The most important takeaway is that this is a roadmap for a transformational project that secures the Rays\u2019 future in Tampa Bay and creates long-term benefits for the entire region.<\/p>\n This is about much more than a ballpark. It is about building a world-class civic asset, revitalizing a Hillsborough College campus, creating thousands of jobs, generating $55.5 billion in economic impact and delivering a privately financed mixed-use district where people can live, work, learn and play.<\/p>\n The MOU reflects months of serious, good-faith work with our public partners, Hillsborough College leadership, Major League Baseball<\/a> and community stakeholders. It is non-binding, and there is still work ahead on the final agreements, but this is an important step forward.<\/p>\n Q: Let\u2019s get right to the question on the taxpayer\u2019s mind. Will this project require new taxes?<\/p>\n Babby: No. There will be no new taxes to fund this project.<\/p>\n The public investment is structured through existing revenue sources and project-generated revenues, including Tourist Development Tax<\/a> funds, Community Investment Tax contributions, Drew Park CRA<\/a> tax increment revenues generated by the new mixed-use development, and federal CDBG-DR reimbursement funds for eligible stormwater infrastructure.<\/p>\n That distinction matters. We have been very intentional about structuring this in a responsible way that does not create a new tax burden for residents.<\/p>\n Q: One concern we have heard is that public money could be taken away from police, fire, emergency services or infrastructure. Can you address that directly?<\/p>\n Babby: Under no circumstances will public funding allocated for police, fire, emergency management services or other committed public safety priorities be impacted by this project.<\/p>\n That has been a core principle from day one. This framework was built around a \u201cDo No Harm\u201d approach. The Community Investment Tax portion is structured so that existing public safety and infrastructure commitments remain protected.<\/p>\n We understand why people ask the question. And demand assurances. That is why it is explicitly laid out in the MOU that no current funding earmarked for police, fire, or any public safety or emergency functions, or infrastructure needs, will be affected. The detail is in the MOU, but be assured this was as important to us as it is, and should be, to our fellow neighbors and citizens. Public safety is one of the most important responsibilities of local government, and that\u2019s exactly why we have been deliberate about ensuring those commitments are not affected.<\/p>\n Q: Some critics will still ask whether public investment in a ballpark is worth it. Why is this a good deal for Tampa Bay?<\/p>\n Babby: It is a fair deal because of the scale of private investment, the long-term economic return and the protections built into the framework.<\/p>\n The Rays are committing at least $1.235 billion in private investment, plus responsibility for cost overruns for a ballpark that the County will own. That represents the largest private investment by a sports team in Florida history.<\/p>\n The project is also expected to generate major economic benefits, including jobs, new tax revenue, tourism activity and long-term growth. It creates a brand-new county-owned civic asset, modernizes Hillsborough College, revitalizes Drew Park, and secures the Rays in Tampa Bay for decades.<\/p>\n This is not just a ballpark. It is a regional economic development project.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/KatCammack-DigitalAds-floridaPolitics-2025-728x90-1.jpg\")
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