Public-private partnerships for stadium development typically involve cost-sharing arrangements where government entities (counties and cities) contribute significant portions of funding while private teams bear remaining costs and overruns, with total project costs often reaching billions of dollars.
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Tampa Votes Today on Massive Rays Stadium Deal After Key County, HCC ApprovalsAdded:
And on your side, Jenna Beth, live in Tampa with what we can expect with this critical vote today. Good morning.
Good morning, Chris Avery. This could be the grand slam that the Rays have been rooting for. Little later this morning, city leaders here in Tampa are going to be casting that vote here at City Hall when it comes to the stadium deal. And that's following yesterday's double push forward with the new non-binding agreement. So, it was a five to two vote by Hillsborough County Commissioners on the memorandum of understanding. HCC trustees also giving the signal to go ahead and round second base on that ground lease agreement, which does come at no direct monetary cost to the college. Now, some major points worth noting on that new MOU. The total cost is 2.3 billion for the proposed stadium.
Hillsborough County is going to be responsible for nearly 800 million, the city of Tampa 80 million, and the Rays are going to pay half and also be responsible for any remaining cost including overrun. Now, some city leaders and county leaders are warning that the project could end up costing taxpayers and we're not on board with the Rays move.
At the end of the day, I liken the do no harm clause as the tactic of a used car salesman, much of how this deal has been crammed down the taxpayers' throats.
I want you to take a look at your screen. The Rays are asking fans to come on out and support today's vote as they hope that it's going to help them move forward securing their forever home here in the Tampa Bay area. Of course, that vote is going to be happening this morning at 9:00 a.m. We will keep you posted on any updates, outcomes, either on air, of course, online as well, wfla.com.
For now, we're live out in Tampa, Jenna Beth, 8 on your side.
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