Taxpayers could be on the hook for additional funding for the planned ballpark.
The owners of Major League Baseball’s Tampa Bay Rays franchise and officials from Pinellas County, Florida are facing a major problem after Hurricane Helene’s massive destruction and the possibility of more destruction from Hurricane Milton. Pinellas County is putting hundreds of millions of dollars into the construction of a planned St. Petersburg Rays’ baseball park. That money is supposed to come from a tourism tax and Pinellas County is going to have fewer visitors after the destruction from Hurricane Helene. The Tampa Bay Rays’ franchise’s planned ballpark depends on money from hotel bed taxes. In July, Pinellas County Commissioners approved the allocation of $312.5 million from tourism tax revenue in the construction of the stadium. That tourism tax revenue is raised from a bed tax which is restricted to funding tourist-related development such as hotel expansions and other projects driving economic prosperity.
Pinellas County’s funding will go to the design and building of the stadium. It is very likely that Pinellas County is going to have a shortfall in revenue in the very near future as there probably will be far less people who will be able to get to the county’s tourist areas. The Pinellas County contribution will remain at $312.5 million. That shortfall will have to be made up by somebody. Pinellas County taxpayers. Bond buyers may be a bit nervous that the hotel bed tax money might not be flowing at the same rate as it was in July when Pinellas County approved the funding. St. Petersburg is putting up $287.5 million of taxpayers money. There is no indication that St. Petersburg and Pinellas County officials are going to walk away from the Rays’ ballpark-village plan but the devastation from Hurricane Helene and the possibility of mass destruction from Hurricane Milton could raise taxpayers’ funding for the Rays’ stadium project.
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