Hillsborough County Commissioners agreed to use another $250 million in tourist bed taxes to help pay for a complete renovation of Benchmark International Arena.
The Lightning will pay about $75 million for the renovation. The deal keeps the team in Tampa for an additional six years, extending their lease through the 2043 season.
Commissioner Christine Miller said it's worth it to keep the city's premier arena competitive.
"Our community wants to keep the Tampa Bay Lightning in Tampa," she said. "They've invested heavily in our area, the surrounding area, and the people of this community want the continuation of this investment. Our arena is nearly 30 years old, and it's gonna cost us less to maintain it than it would to build something new."
Commissioner Harry Cohen said this project will be paid for by tourists staying at local hotels.
"It is an enormous privilege and responsibility to be an NHL (National Hockey League) community, and we have to step up and make sure that our facility is first class in order to uphold our end of the bargain," he said, "and they end up their end of the bargain by putting out a great product."
The agreement would increase the maximum the county would pay from $108.5 million to $358.5 million. The team would spend roughly $75 million. And the team would have to make the renovations first, before they can be reimbursed through the bed taxes.
Commissioner Joshua Wostal worried having the team pay for about 25% of the renovation costs might set a precedent for similar deals for the Buccaneers and possibly the Rays.
But Commissioner Chris Boles said, "In my opinion, this agreement is like comparing apples to rocks."
"I've heard credible concerns from members of the (Tampa Sports Authority, the arena's landlord) and others in the community about precedents that this agreement may set and certainly understand the hesitation," Boles said, "But it's not the same, the funding sources are different. The risk to taxpayers is different, and certainly it shouldn't be judged on the same or by the same standard," he said of possible renovations to Raymond James Stadium and maybe a new baseball home for the Rays.
Commission chairman Ken Hagan said former Lightning owner Jeff Vinik helped transform downtown Tampa with his vision for the Water Street Tampa development. And he said the new owners will continue that work.
"What has impressed me about the new owners, Doug Ostrover and Marc Lipschultz, is that they've made it very clear that they share the same vision and commitment as Jeff and are going to follow the Vinik model on the ice philanthropically and with their continued community investment and impact," Hagan said.
He said that was backed up by a recent announcement for another phase of development at Water Street, including an outdoor music venue, a hotel, and 100,000 square feet of retail, dining and entertainment spaces.
