Rays present stadium financial plan
The Tampa Bay Rays presented their preliminary financial plan for a $450 million waterfront stadium to the St. Petersburg City Council today.
The Rays said the plan would not require any new tax funding until after 2016, when a hotel tax would have to be reauthorized to continue to fund the new stadium. Before his presentation to City Council,
But the idea of including $55 million in parking revenue generated from city parking lots as part of the 61 percent the Rays consider the private contribution to the construction costs was questioned by City Council Chair Jaime Bennett.
Matt Silverman, president of the Rays, said the team would lease parking spots in a manner that the Florida Marlins organization does currently.
Silverman said if St. Petersburg decides to build a waterfront stadium for the Rays organization, it would be one of the only LEED certified green sports stadiums in the country and would have 20 to 30 percent the carbon footprint of Tropicana Field.
The St. Petersburg City Council will hold a workshop on the Raysâ proposal on May 22 at 1:30 pm and there will be a public hearing that evening at 6, both in the Council Chamber at City Hall. Photo by SeÃ¡n Kinane / WMNF
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