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Beach towns skeptical of stadium plan
By TOM GERMOND
Article published on Tuesday, June 17, 2008 |
INDIAN SHORES – Beach communities apparently aren’t in the same ballpark with the Tampa Bay Rays when it comes to the financing plan for its proposed $450 million waterfront stadium.
Rays officials are expected to discuss the proposal with the BIG-C Intergovernmental Council at its meeting June 25 at Treasure Island City Hall.
The Town Council had considered passing a resolution in opposition to the extension of the resort tax June 10. However, it decided to wait until after the Rays made its presentation before taking action, Mayor Jim Lawrence said, to avoid “making a decision before we get the other side of the story.”
Nevertheless, the BIG-C may make a decision to adopt a joint resolution against the project.
“I’m pretty confident all of the 11 beach communities including the city of Clearwater are going along with our position,” Lawrence said.
Lawrence said if the tax is extended, some or all of the money should be used for beach projects, facilities and renourishment.
“People don’t really realize that the bed tax brings in almost $26 million a year in Pinellas County, and 21 percent of that $5.4 million right now is going to debt service for three stadiums. The lion’s share of that is going to Tropicana Field for that debt service,” Lawrence said.
Councilor Joan Herndon said other cities are opposed to the tax extension.
“People are beginning to realize the beaches have a lot to do with the economy of Pinellas County,” Herndon said.
The breakdown of the Rays’ preliminary financing plan calls for $150 million to come from the Rays; $70 million from the sale of Tropicana Field; $55 million in parking revenue; $100 million from the county; and $75 million from St. Petersburg.
The Rays are seeking an extension of the fourth-cent tax on hotel stays to fund the $100 million contribution they want from the county.
The Rays estimate that more than $300 million in new revenue would be generated through property taxes, sales taxes and school taxes. Thousands of new jobs also would result from the development of Tropicana Field and a new ballpark, Rays officials have said.
Michael Kalt, Rays senior vice president of development and business affairs, has said the stadium will provide an economic stimulus at a time when it’s desperately needed.
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Article published on Tuesday, June 17, 2008
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