Tampa Bay Rays outline community benefits and stadium funding plans

The Tampa Bay Rays have detailed a Community Benefits and Legacy Plan associated with their proposed new ballpark. The plan includes initiatives for affordable housing, tenant assistance, and home repairs intended to prevent displacement in areas surrounding the stadium district. Additionally, the proposal outlines workforce development programs targeting careers in construction, hospitality, sports, and technology, with an emphasis on connecting residents and minority-owned businesses to opportunities.

Financial and structural details of the stadium agreement have also emerged. A revised funding model involves $180 million in spending sourced from property taxes. The agreement includes a “waterfall” account designed to use excess Tax Increment Financing (TIF) funds for future bond costs and capital maintenance of public infrastructure improvements within the district. While the Rays have specified that 65% of community benefits will go to Hillsborough County and 35% to Tampa, the total dollar value of the benefits package and the ultimate public cost remain undefined.