November 14, 2007
Tampa Bay stadium plan leaves much unanswered
More developments, and quite a few open questions, about the recently revealed plan for a new Tampa Bay Rays stadium:
- The 70 acres of land under Tropicana Field, which team owners would want to develop as part of a stadium deal, could be worth as much as $200 million to private developers. It's not clear that all of that money would go to the Rays, though - the city, which leases the land from Pinellas County (and in turn leases the stadium to the Rays) could be looking at some of it to help pay off its $100 million in remaining construction debt on the Trop.
- Even if the Rays owners given all the development money, with the team kicking in $150 million and the state $30 million (in present value), that would still leave about a $70 million funding gap on what's projected to be a $450 million stadium. Where this money would come from, no one knows.
- The city would benefit from development of the Trop site because the land would go back on the property-tax rolls. Of course, if it kept the development rights for itself and told the Rays to go take a long walk off a short pier, it would benefit even more, if you don't count the outrage of all the Rays fans. (Okay, both the Rays fans.)
- Florida Gov. Charlie Crist thinks the whole idea is just peachy, saying today: "I love the idea, from what I've read. It sounds great to me. I envision, sort of - isn't it Giants stadium that;s on the water, too? Where they're playing now is fine, and has served them well. But I think the opportunity to create an ambiance right on the waterfront in St. Petersburg is brilliant. I really do. ... I view, as a significant part of economic development, what sports does for Florida. Whether it's at the college level or the professional level, it's jobs, jobs, jobs for a lot of people. ... I also would be supportive of the one in Miami ... I think it's great. The waterfront in St. Petersburg is glorious, as it is all over the state."
COMMENTS
You can't just kick the Rays off the Trop..they have a lease. So....in order to get the benefits from redeveloping the Trop....the Rays need a new ballpark. Its a win win, and won't cost the taxpayers anything.
Posted by: Jason on November 29, 2007 02:06 PM
When you were reading the comments by the governor, didn't you expect, at some point, that he'd say something like, "Does anybody actually believe that I have a clue what I'm talking about right now, by the way?"
Posted by: Tom on December 10, 2007 04:04 AM
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