Hillsborough County commissioners to vote on $90M for new Rays stadium as budget concerns grow

Amendment 3 impact on new Rays stadium On Tuesday, Hillsborough County Commissioners will discuss how they will get the money for the portion of the new Rays stadium they promised to pay. FOX 13’s Kellie Cowan reports. The Brief Commissioners will consider an initial $90 million appropriation for the Rays’ proposed stadium from the extended Community Investment Tax fund. The county will also consider adding the ballpark to the list of projects eligible for Community Investment Tax funding and authorizing up to $263 million in tourist development tax-backed bonds. The votes were planned before this month’s election, but now come as Hillsborough County braces for potentially deep revenue losses following the passage of Amendment 3, raising questions about its ability to meet its stadium commitments. TAMPA, Fla. - Hillsborough County commissioners are weighing key funding measures for a new Tampa Bay Rays ballpark as looming tax revenue shortfalls test local spending priorities. What commissioners are voting on By the numbers: Tuesday’s agenda includes several related items involving the county’s portion of the stadium funding plan. The largest immediate allocation is a proposed $90 million appropriation for the Tampa Bay Rays’ ballpark. Commissioners will consider adding the stadium as a new capital improvement project and approving a budget amendment to move $90 million from reserves in the CIT Extension Project Fund into the stadium project for fiscal year 2027. The CIT is a half-cent sales tax collected in Hillsborough County. The tax can be used for infrastructure projects: transportation, public safety, schools and public facilities, including the construction or renovation of a stadium. The CIT was approved by Hillsborough voters in 1996 to help fund construction of Raymond James Stadium and other public infrastructure projects. The 30-year sales tax received a 15-year renewal by voter referendum in 2024. The proposed $90 million is an initial appropriation. Any additional budget additions for the stadium would require future approval from commissioners. Commissioners will also consider adding the Rays’ ballpark to the approved list of infrastructure projects eligible for funding through the renewed Community Investment Tax. Another vote would authorize the county to issue up to $263 million in tourist development tax revenue bonds to help finance the stadium’s construction. Those bonds would be backed by revenue from the county’s third- and sixth-cent tourist development taxes. Amendment 3 impact on the proposed stadium Dig deeper: The stadium votes come at a challenging time for Hillsborough County’s finances. Florida voters approved Amendment 3, which will significantly increase the homestead exemption for eligible homeowners. The change is expected to significantly reduce property tax revenue available to local governments. According to the nonpartisan Florida Policy Institute, Hillsborough County could face a revenue shortfall approaching $1 billion over the first two years of the changes. More than 80-percent of the county’s planned stadium contribution is expected to come from tourist development and sales tax revenue, which would not be directly affected by the property tax changes. However, roughly $100 million of the county’s planned contribution would come from other county funds, adding to concerns about how the county will manage its budget as the tax changes take effect. Competing views on financing What they're saying: Commissioner Chris Boles (R-District 6), who previously supported the stadium funding plan, told Creative Loafing this week that the county may need to take another look at its commitment, considering the passage of Amendment 3. Other stadium supporters argue the county needs the project more than ever because it could help generate new tax revenue in an area that currently produces little or none. "The passage of Amendment 3 actually makes it more important for us to have opportunities like this, because this is what allows us to expand our tax base and get the revenues in that can keep the government running the way that people are accustomed, said Hillsborough Commissioner Harry Cohen (D-District 1). "We are going to be losing money from ad valorem taxes on homesteaded property. The only way to recover some of that money without tax increases or fee increases is to increase the tax base of commercial and non-homestead property. That's exactly what this deal does. I think this deal is very important to the economic future of the region." Cohen also pointed to the economic activity and community excitement surrounding the Tampa Bay Rays’ recent World Series run as an example of the potential benefits of having the team and a new ballpark in the region. "I think that we saw hosting the World Series was a huge economic boon to the region," Cohen said. "I think everyone saw the excitement and community pride that was created by it." Cohen said he remains enthusiastic about keeping the deal moving forward. Tampa’s contribution Local perspective: The city of Tampa’s planned contribution is significantly smaller than the county’s. Tampa has committed $80 million toward the stadium, which would be financed through bonds. While that arrangement would involve interest costs for the city, the property tax changes are not expected to affect that funding plan. Upcoming budget approval decisions What's next: Tuesday’s votes are important steps in moving the stadium financing forward, but they do not represent final approval of every dollar the county may ultimately contribute. The $90 million appropriation would establish the project’s initial fiscal year 2027 budget. Additional county funding would require further approval, while the proposed tourist development tax bonds would also go through a separate bond validation process. Commissioners are scheduled to consider the stadium-related items during their November 10 meeting. Cohen says commissioners will likely hold a workshop in early 2027 to discuss Amendment 3 impacts moving forward. "We don't actually pass our budget until next fall, so we do have a little bit of time to work on this, but we're gonna have to get started because this is certainly gonna mark a major change in the way that we do business, and we're going to have to look for economies of scale and savings in order to get by," said Cohen. The Source: Information report comes from the Hillsborough County Board of Commissioners November 10, 2026, meeting agenda, the Florida Policy Institute’s analysis of the potential impact of Amendment 3 on Hillsborough County, as well as an interview with Hillsborough County Commissioner Harry Cohen. Hillsborough County Rays Stadium Plans