PINELLAS COUNTY, Fla. – The Pinellas County Board of County Commissioners took a significant step forward Tuesday, approving a supplemental bond resolution to finance the construction of a new Tampa Bay Rays stadium.
The Board voted 5-2 in favor of the measure, reaffirming previously agreed terms and requiring the Rays to meet specific criteria by March 31, 2025, before bonds can be issued. Commissioners also called for ongoing project updates to ensure transparency and keep the public informed about progress.
“Today, we let the world know that Pinellas County is a great collaborative partner,” said Commission Chair Kathleen Peters following the vote.
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The resolution builds on agreements reached last summer between Pinellas County, the City of St. Petersburg, and the Tampa Bay Rays. These agreements outline the funding, construction, and operation of the new stadium.
The vote had been delayed twice earlier this year—on October 29, following Hurricanes Helene and Milton, and on November 19, after two newly elected commissioners joined the Board.
Under the agreement, the Rays must fulfill specific requirements for the County to issue the bonds. If the Rays fail to meet these requirements, the bonds will not be offered for sale.
Key Points on Financing
- The Board had previously committed $312.5 million in public financing for the stadium using Tourist Development Tax (TDT) revenue.
- By law, TDT funds are restricted to specific uses, such as promoting tourism, and cannot be used for essential services like law enforcement or road maintenance.
The stadium deal is distinct from the City of St. Petersburg’s Gas Plant Redevelopment District agreement with the Rays and their development partner, the Hines Group. The County’s bond resolution does not affect the terms of that redevelopment project.
The County Commission emphasized the importance of monitoring the stadium project to ensure accountability and adherence to agreed-upon terms. Should the Rays meet the criteria by the March 31, 2025, deadline, the County will proceed with issuing the bonds.
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