Overview
- The team, the city of Tampa and Hillsborough County released a nonbinding framework to build a 31,000‑seat domed ballpark and a larger district on Hillsborough College’s Dale Mabry campus, with local votes expected next week.
- Funding would total about $2.3 billion, with at least $1.3 billion from the Rays including all construction overruns, and a combined public share capped at $976 million split between the county at $796 million and the city at $180 million.
- The county and city plan to use bonds backed by the Community Investment Tax, which is a local sales‑tax for public works, and the Tourist Development Tax, which is a hotel‑bed tax, with the MOU limiting CIT dollars to roads, utilities and other horizontal infrastructure.
- The Rays agreed to cover any debt‑service gaps if CRA or CIT revenues come in low, with payback later if collections rise, and the team can add limited district fees plus a ticket surcharge of up to $3.50 that would not apply to tickets under $40.
- Hillsborough County would own the stadium and site, which would be tax‑exempt, while other redeveloped parcels would be privately owned and taxable, and the deal still needs bond validation and other legal steps as the club targets a 2029 opening.