St. Pete-Clearwater Sun

Tampa City Council members peppered Tampa Bay Rays CEO Ken Babby with questions on Wednesday night about how the public would foot its share of the bill for a proposed $2.3 billion ballpark at the Dale Mabry campus of Hillsborough College.

The Rays have said they are prepared to cover more than half the cost of the stadium project, with the city and county covering the remainder. But council members pressed for specifics on where exactly the public funds would come from, and whether Community Investment Tax (CIT) dollars — a voter-approved sales tax — would be tapped for the project.

City Chief Financial Officer Dennis Rogero told members that a range of $80 million to $100 million in CIT funds could potentially be bonded to help pay for the stadium, though he said whether the team or the city would pay the interest on that debt remains under negotiation.

Council members raised concerns that state cuts to the sales tax on commercial leases could reduce CIT revenues, with some noting that property taxes could be next on the legislative chopping block.

Not everyone on the council was receptive. Joe Greco, a member of the council’s Citizens Advisory Budget and Finance Committee, said four committee members who attended an April meeting voted to urge the council not to use CIT funds for the project at all, and called for the public to have a vote on any such use of those dollars.

Babby acknowledged that many financial details are still being worked out. He and city staff said some funding questions could not yet be answered because negotiations are ongoing, with the goal of completing a non-binding memorandum of understanding with both the city and county this month.

The Rays CEO touted the project as a major economic engine for the region. In his presentation, Babby said the plan — which includes redevelopment of the college campus alongside the new ballpark — could generate $55 billion in economic impact over 30 years and create nearly 12,000 jobs.

On concerns about public safety funding, Babby was direct. He said he has given police and fire representatives his word and intends to make it contractual, that no money will be taken from any public safety program to fund the stadium.

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