Hillsborough County on Tuesday outlined how a “public contribution” for a Rays ballpark could be structured, according to Villamil and Moske of the Tampa Bay Times. A presentation for Thursday’s county workshop breaks down how previously identified funding sources could support the deal.
The Rays have requested $750 million from Hillsborough, but the presentation shows county sources reaching about $702 million. The team has also asked the city for $251 million, while the presentation lists $224 million as a possible figure.
The proposal notes the Rays are also pursuing state support. That could include donated land, $150 million to rebuild Hillsborough College, and $30 million for transportation projects.
An earlier draft memorandum of understanding requested $1.065 billion in public funding. That figure has been reduced to $1.001 billion due to expected revenue from ticket surcharges, construction fund interest, and the Florida Sports Development Program being reclassified as private funding.
Potential county funding sources:
- Community Investment Tax: $336 million
- Tourist Development Tax: $268 million
- Community Redevelopment Agency: $160 million
- Hillsborough cash/reserves: $132 million
- Federal disaster relief funding: $30 million