Rays stadium deal moves forward with County Commission vote

The Pinellas County Board of County Commissioners on Tuesday adopted a supplemental bond resolution and approved the form of documents for the financing of a new Tampa Bay Rays stadium.

In a 5-2 vote, the Board agreed to move the stadium deal forward, with recognition that the Rays must meet specific criteria by March 31, 2025, for bonds to be issued. The Board held the line on previously agreed-to terms and requested continued project updates moving forward so both the Board and residents can stay informed about progress.

“Today we let the world know that Pinellas County is a great collaborative partner,” Commission Chair Kathleen Peters said.

Adopting the supplemental bond resolution was an additional step for the Board after reaching agreements with the City of St. Petersburg and Rays last summer concerning the funding, construction, and ongoing operations of the new stadium. A vote on the resolution was deferred on Oct. 29 in the aftermath of hurricanes Helene and Milton, and again on Nov. 19, after two newly elected commissioners took office.

The Rays must meet several requirements before the County would be required to issue the bonds. Should the Rays not fulfill the requirements, the bonds will not be offered for sale.

The stadium agreement is separate from the City of St. Petersburg’s Gas Plant Redevelopment District agreement with the Rays and their development partner, Hines Group. Board action on the bonds has no contractual impact on the terms of that agreement.

Earlier this year, the County Commission voted to invest $312.5 million in public financing for the stadium using Tourist Development Tax revenue to pay off the debt. By law, the use of tourist taxes is restricted and cannot pay for many Pinellas County projects or services such as law enforcement or roads.