The 4-3 vote by the Tampa City Council<\/a> came three months after a tentative agreement was reached for a stadium.<\/p>\nHillsborough County Commissioners will vote on the project on Friday.<\/p>\n
Rays Chief Executive Officer Ken Babby said in a statement that the stadium project will \u201cdeliver lasting benefits\u201d for the region.<\/p>\n
\u201cThe Tampa Bay Rays are grateful for the leadership and support of the City Council members to approve an investment that, when accompanied by the private funding guaranteed by the Rays, will secure the future of Major League Baseball in Tampa Bay while creating a landmark destination neighborhood that will serve our region for generations,\u201d Babby said Thursday.<\/p>\n
An approval there will set funding in place for the project and move toward the construction phase.<\/p>\n
Team officials have continuously said they want to be in the new facility in time for the 2029 season.<\/p>\n
The city is set to provide $80 million in funding, with Hillsborough set to contribute $796 million.<\/p>\n
The project funding is expected to break down as such (according to numbers released by the Rays):<\/p>\n
The Rays would contribute more than $1.3 billion.
\n$360 million would come from county Community Investment Tax funds.
\n$303 million in Tourist Development Tax bonds and reserves would be used.
\nAnd another $103 million would be paid for through other county resources.
\nTampa would contribute $80 million, and the remaining amount would be drawn from other public funds and investment earnings, and federal funds.<\/p>\n","protected":false},"excerpt":{"rendered":"TAMPA, Fla. \u2013 Hillsborough County is up to bat. \u00a0City officials on Thursday approved a $2.3 billion deal…\n","protected":false},"author":2,"featured_media":383628,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1564,274,558,28,2287,115,29208,135,137,136,278],"class_list":["post-383627","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tampa","tag-angie-angers","tag-app-top-stories","tag-business","tag-florida","tag-local-politics","tag-news","tag-rays-stadium","tag-tampa","tag-tampa-headlines","tag-tampa-news","tag-top-stories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/383627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=383627"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/383627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/383628"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=383627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=383627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=383627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}