Hillsborough County Commission

In an interview with the Tampa Bay Times, CEO Ken Babby says the economics behind the $2.3 project are settled after local approvals of a non-binding MOU, with the focus now on nailing down unresolved issues.

Senate Appropriations Chair Ed Hooper said the money won't be set until local financing agreements are a "done deal," and lawmakers needs something more concrete than this week's approved MOU.

With a tense 4-3 vote, the city approved the non-binding agreement, allowing negotiations to continue on building the ballpark. But council members still have several concerns.

The tentative agreement, finalized last week by the team, county and city, details financing for the $2.3 billion indoor stadium that would anchor a multiuse development in Drew Park.

On "Florida Matters Live & Local," Joshua Wostal explains his skepticism of the plan, how it's being presented, promises that taxpayers won't be exposed and the team's transparency.

If commissioners approve the non-binding memorandum of understanding, the city council will vote on its part of the financing the following day.

Mayor Jane Castor says she expects the city council and county commission to pass the non-binding agreement, allowing negotiators to fill in the blanks on multiple documents in the complex deal.

The non-binding memorandum of understanding drops the public money involved to $976 million. The deal must be voted on next week by the Hillsborough County Commission and Tampa City Council.

About $150 million sought to rebuild Hillsborough College isn't in the first spending offers. Budget committee Chair Ed Hooper, R-Clearwater, says the state won't act until stadium financing is complete.

The billionaire attorney calls Rays managing partner Patrick Zalupski a friend with whom he's had regular contact. The Rays, however, have an agreement to negotiate stadium plans only with Tampa and Hillsborough.

During a nearly four-hour meeting, councilors heard their first presentation on the stadium from Rays CEO Ken Babby, learned more about what public funding would be required and listened to dozens of citizens.

Presentations from the team and city staff are slated on how Tampa can cover a proposed $251 million share of the project's financing through a CRA and the Community Investment Tax.