Tampa City Council Reviewing $2.3B Rays Stadium MOU for Dale Mabry Campus Site

The Tampa City Council voted 4-3 to keep negotiations alive for a proposed $2.3 billion stadium and mixed-use development project near the Hillsborough College Dale Mabry campus. The development, spearheaded by the Tampa Bay Rays, would feature a stadium with at least 31,000 seats, alongside multifamily residential units, hotels, office space, restaurants, and retail components. The project is currently in the negotiation stage, with a projected opening date in 2029.

The proposed financial framework includes approximately $976 million in public participation, with Tampa contributing $80 million for infrastructure improvements and Hillsborough County allocating $360 million in Community Investment Tax revenue. Additional funding is expected from tourist-development-tax bonds, CRA bonds, and ticket-surcharge bonds. While the vote allows negotiations to move toward definitive agreements, it does not authorize construction or release public funds. The project remains subject to further land-use approvals, financing disclosures, and bond validation processes.