St. Pete approves bonds to fund new Tampa Bay Rays stadium and Gas Plant District development
/The current tropicana field stadium, which sustained substaintial damage from hurricane milton | st. pete rising
Despite uncertainty surrounding the future of Major League Baseball in St. Petersburg, the City Council has voted to move forward with plans for a new $1.3 billion stadium for the Tampa Bay Rays and the redevelopment of the adjacent 86-acre Historic Gas Plant District.
During a meeting on Thursday, the City Council narrowly approved the issuance of $287.5 million in tax-exempt bonds with a 4-3 vote. These bonds will contribute to the $600 million in public funding for the stadium, along with $142 million allocated for infrastructure improvements in the reimagined district.
Council members Deborah Figgs-Sanders, Copley Gerdes, Brandi Gabbard, and Gina Driscoll voted in favor of the bond issuance, while Richie Floyd, Lisset Hanewicz, and John Muhammad opposed it.
An earlier rendering of the future stadium planned by the hines and tampa bay rays | hines and tampa bay ray
The approval comes two weeks after the City Council voted to delay their vote on the stadium bonds when Rays Co-president Brian Auld explained a previous bond delay from the county and an additional delay from the city would push back the timeline for the new stadium even further, making a 2028 debut less likely.
Auld added that with the county’s deferral of the bond resolution, the Rays “couldn’t keep contracts” with partners and had to stop the bleeding as the team has already invested $50 million towards the plans.
City Administrator Rob Gerdes asked the Rays for their letter officially terminating the deal.
A voluntary withdrawal of the stadium agreement would cause a default under the related development agreement, which governs the redevelopment proposal of the 86-acre Historic Gas Plant District.
However, the Rays never sent a letter of termination and stated in a recent letter to Pinellas County Commission that the current agreements are still “in effect.”
“We wanted to find out if the Rays were on the verge of sending a termination letter,” said Driscoll, who supported the delay at the previous meeting.
“It turns out that they weren’t. The Rays are still in, and so am I.”
A rendering of the new stadium and glass walls, creating an inviting experience and opening views of the field | populous
Prior to the vote, Mayor Ken Welch informed council members that he met with Rays owner Stu Sternberg on Tuesday.
"There is a consensus that the agreement you all approved in July is valid and in effect," Welch said. "While significant issues remain with regard to the Rays, discussions were productive and our options are becoming clearer."
He added that the best path forward for the city's position would be to approve the bond resolution.
While the majority of city council members remained supportive of backing the project as they intended, they expressed concerns about how the Rays have been elusive and not fully transparent about their financial standing.
"The Rays aren't here," said Hanewicz, taking note that team representatives were not in attendance, setting a negative indication of the type of 30-year relationship the Rays would have with the city as they embark on what's to be the biggest project in the city's history.
"We are about to vote on hundreds of millions of dollars and they don't even show up," she said. "There is nothing in an agreement requiring us and them [Pinellas County] to approve bonds. You can't bind boards - and they know that."
However, Figgs-Sanders reminded the board that this is "not just about baseball," reflecting on the Tampa Bay Rays donations and community partnerships and grander vision of the future 86-acre Gas Plant District the stadium would anchor.
Gabbard said by approving the bond resolution, the Rays must now meet their end of the deal without placing blame on the city.
“We need to move this forward because, quite frankly, I think we’re calling their bluff by doing so,” Gabbard said. “Hopefully, the county will follow suit, and then it’ll be up to the Rays to decide.”
Although the city has approved the bonds, the Rays are still missing a crucial piece - the county's $312.5 million contribution that will be funded through tourist development taxes.
Pinellas County Commissioners are set to reconsider the bonds at their December 17th board meeting.
