The Rays “intend to cover at least 50% of the stadium cost, cover construction cost overruns and fully fund future repairs, maintenance and renovations” at their preferred Hillsborough College ballpark site, according to a document from Hillsborough County Commissioner Ken Hagan’s office posted as a part of the agenda for a County Commission meeting on Wednesday. The Rays are asking for Hillsborough County to “consider covering up to 50% funding for the new ballpark by tapping into various funding sources under its control.” On Tuesday, Florida Gov. Ron DeSantis and MLB Commissioner Rob Manfred are slated to be in Tampa for a news conference at Hillsborough College. DeSantis is “expected to provide further insight on what role the state may play.” At Wednesday’s county meeting, Hagan will “provide an ‘update on Tampa Bay Rays Ballpark discussions,’” according to the agenda item (TAMPA BAY TIMES, 2/2).
The Rays suggest the county “tap sources like the Tourist Development Tax, unplanned increases in revenue from a portion of the sales tax known as the Community Investment Tax and revenue from a property tax assessed to the area around the stadium.” The team also “proposed funding sources that would require the City of Tampa’s approval: Westshore Hotel/ Motel special assessment fee and a bonds infrastructure through a community development district” (TAMPA BAY BUSINESS JOURNAL, 2/2).