St. Petersburg City Council Approves Tampa Bay Rays Stadium Deal
The St. Petersburg City Council has approved a major deal. This agreement will keep the Tampa Bay Rays baseball team in St. Petersburg. The vote was 5-3 in favor of the new stadium project. This clears a path for a new ballpark. It also starts a large redevelopment of the Gas Plant District.
Key Details of the Agreement
The deal focuses on a new stadium for the Rays. It will be built at the current Tropicana Field site. The agreement directs future property tax money to the stadium project. This revenue comes from the redeveloped Gas Plant District. Historically, these funds would support city services. These services include police, fire, and parks. The city’s investment for the stadium is around $300 million. This is part of a larger $6.5 billion district redevelopment plan.
Impact on City Finances
Critics expressed concerns about the financial impact. They worried about diverting future tax revenue. However, City Manager Rob Gerdes addressed these worries. He stated the city faces no budget shortfall. He explained that these are future revenues, not current ones. The city will continue to fund essential services. Current property tax revenues remain dedicated to existing needs.
Affordable Housing and Community Benefits
A significant part of the deal involves community benefits. The agreement earmarks $200 million for affordable housing. This includes $100 million for the Gas Plant District itself. Another $100 million will go to a citywide affordable housing fund. In addition, $50 million is set aside for minority business equity programs. These commitments aim to support the local community. They also address long-standing housing challenges in St. Petersburg.
Next Steps for the Project
The city council’s approval is a major step. However, the deal is not yet final. The Pinellas County Commission must also approve the agreement. They will review the financial and community aspects. Their vote is the next critical hurdle. If approved, construction would begin soon. The new stadium and surrounding development are expected to boost the local economy. This project represents a long-term vision for downtown St. Petersburg and its residents.
