The Pinellas County Commission in Florida is poised to vote on a crucial financing plan for a new stadium for the Tampa Bay Rays, with a budget of $1.3 billion. This vote, scheduled for Tuesday, follows two previous delays. Rays officials are optimistic that the financing will be approved this time around.
This plan was initially backed by both the county commission and city officials from St. Petersburg during the summer, but funding votes had to be postponed until now. Recently, the St. Petersburg City Council approved its portion of the funding through bonds necessary to build the new 30,000-seat ballpark. It now falls to the county to decide whether to issue these bonds, which will be financed through tourist taxes designated for this purpose and cannot be allocated for hurricane recovery efforts.
According to the deal, both the city and county are expected to contribute about half of the stadium’s total cost, while the Rays franchise will cover the remaining expenses, including any overruns.
Pinellas County Commission Chair Kathleen Peters emphasized the significance of the project, stating it represents more than just a new stadium. She noted that this investment could lead to job creation and economic growth while allowing for the possibility of keeping taxes low for residents.
The new stadium plan has settled years of speculation regarding the future of the Rays, who faced potential relocations to neighboring Tampa, Nashville, or even a split season between St. Petersburg and Montreal, an idea that Major League Baseball did not support.
Under the new agreement, the Rays are committed to St. Petersburg for the next 30 years, though they will temporarily play this season at the New York Yankees’ spring training site in Tampa due to hurricane damage to Tropicana Field.
This proposed stadium is a central element of a larger $6.5 billion revitalization project known as the Historic Gas Plant District, which aims to transform a portion of downtown St. Petersburg. This development is expected to include a Black history museum, affordable housing, entertainment venues, and various retail and office spaces, ultimately promising thousands of jobs for the community.
In summary, this stadium deal not only aims to keep the Rays in the local community but also to enhance economic prospects, job opportunities, and the overall quality of life for residents in the area.
