Elected leaders, Rays react to memorandum of understanding

TAMPA, Fla. — $976 million, that’s the amount of public funding called for to build a new stadium for the Tampa Bay Rays.

The team announced Thursday it reached a memorandum of understanding with Hillsborough County and the city of Tampa to build the $2.3 billion ballpark on Hillsborough College’s Dale Mabry campus.

The 30-page MOU lays out where that money could come from, but Hillsborough Commissioner Joshua Wostal told Spectrum News key questions remain unanswered.

“There is no understanding. County staff has no understanding to the memorandum of understanding,” said Wostal.

His big question revolves around the $2.3 billion price tag. He said the Rays haven’t provided a breakdown of how they came to that figure.

State Sen. Ed Hooper, R-Palm Harbor, has said local agreements have to be in place before the state will release $150 million for the project.

Wostal said that’s why he thinks commissioners are being asked to vote on the agreement.

“We’re doing it solely to release that much money. I don’t know how anybody could characterize anything other than fraud,” he said.

The MOU does call for Community Investment Tax (CIT) dollars to be used among other funding sources. Hillsborough’s contribution from those funds would be capped at $360 million, while Tampa’s could go up to $80 million.

The agreement is non-binding, and Commissioner Ken Hagan told WDAE’s “The Drive w/TKras” there are still issues to work out. But he called the MOU a positive step forward. 

“This is a complex deal. There are so many moving parts. Our first and guiding principle moving forward, most important, has been ‘protect the taxpayer’. We’re not raising taxes. We’re not raising fees,” Hagan said.

According to Hagan, one of the details that needs to be finalized is how capital repairs will be handled during the life of the stadium, as far as the Rays assuming most or all of that responsibility. 

The team has given a June 1 deadline for the county and city to approve final agreements. Hagan said he understands the urgency when it comes to state funding.

“That being said, there’s no way in hell that gets done by June 1, and we’ve told them that. They understand that, may not like that, but it’s significant that we can get an MOU done by May 20,” said Hagan.

That’s when commissioners are expected to vote on the agreement. Hagan said he’s confident it will pass.

Rays CEO Ken Babby said in a statement he’s grateful for the commitment and partnership parties demonstrated during negotiations.

He said in part, “The Rays respectfully but resolutely encourage Hillsborough County and the City of Tampa to approve the MOU and make possible a Forever Home for our community’s Tampa Bay Rays, breathe new life into the Dale Mabry Campus of Hillsborough College, and create a new privately financed neighborhood that will be an inviting and inclusive destination to work, live, learn, and play.”