Pinellas County Commission Approves Bonds for New Tampa Bay Rays Stadium
The Pinellas County Commission has approved bonds to pay for a new Tampa Bay Rays stadium, putting pressure on the team to fulfill their end of the deal signed over the summer.
Commission Votes 5-2 on Bond Approval
With a new majority of skeptical commissioners, the board voted 5-2 to take out bonds to cover a portion of the stadium costs. The county committed $312.5 million from hotel and short-term rental tax dollars dedicated to promoting tourism.
Changing Votes and Concerns
Two commissioners who initially voted against the deal, Chris Latvala and Dave Eggers, switched their votes to yes. They, along with others, feared that a no vote would allow Rays owner Stuart Sternberg to retain rights to purchase public land without building the stadium.
MLB Commissioner Influence
Latvala’s vote was influenced by a meeting with Major League Baseball Commissioner Rob Manfred, hoping to usher in a new era for the Tampa Bay Rays.
Stadium Development Impact
The decision’s impact on the stadium’s development agreement is crucial, with Rays president Matt Silverman stressing the urgency to resolve the funding gap to avoid project delays and cost escalations.
Next Steps and Funding Gap
Despite the bond approval, there is no finalized deal for the stadium, originally estimated at $1.3 billion. The Rays highlight the financial strain caused by construction delays, emphasizing the need to address the funding gap.
Conclusion
The approval of bonds for the Tampa Bay Rays stadium puts the spotlight on the team and local authorities to collaborate on bridging the financial divide to ensure the project’s success.
FAQs
Q: What was the outcome of the Pinellas County Commission vote on stadium bonds?
A: The commission approved bonds to fund a portion of the new Tampa Bay Rays stadium.
Q: How will the funding gap impact the stadium’s development?
A: The funding gap may lead to delays and increased costs for the stadium project.
