http://www.tbnweekly.com/content_articles/062508_fpg-01.txt

Rays decide to hold off on stadium deal
By SUZETTE PORTER

Article published on Wednesday, June 25, 2008

ST. PETERSBURG – Tampa Bay Rays announced Tuesday afternoon that that the team is no longer seeking a November referendum on a proposed $450 million waterfront stadium in St. Petersburg.

Instead a coalition of community leaders will be formed to study ways to ensure support for a long-term commitment to the Tampa Bay Rays and Major League Baseball. The new group, which will be chaired by Progress Energy President Jeff Lyash, will study and report back to the community on a wide array of issues related to a new stadium.

During a televised press conference, Rays President Rays Silverman said that the seven months of discussion on the new ballpark had shown that a "project of this magnitude can't be done alone" and needed to be a community process – "a unity of purpose."

The Rays ran into opposition as they pitched their plan to sell Tropicana Field and build a new 34,000 seat, retractable-roof ballpark.

The Rays preliminary financing plan called 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 county's share would come from extending the fourth-cent bed tax that has been paying the debt service for Tropicana Field, which was a matter of concern for the Board of County Commissioners and Tourist Development Council.

The county also was concerned about the proposed redevelopment of the Tropicana site happening at the same time a deal to develop the old Toytown landfill was in the works.

Another major stumbling block was the requirement for voter approval to change the lease agreement for the waterfront ballpark.

Commissioner Ronnie Duncan was out of town on Tuesday, but he did release a statement about the Rays' announcement.

"I applaud the Rays' management and ownership for their decision to seek other opportunities in our region and will work, as a county commissioner, to insure that their objectives are met in a manner that mitigate and address the objections of our community and environment," Duncan said.

Duncan spoke of the many benefits a major league baseball team brings to the county and the spirit of cooperation between the team and the community.

"The franchise has worked closely with the community and I know that they will continue to involve the public in this renewed initiative," Duncan said. "Their decision to work with this Pinellas County community speaks volumes for their credibility and their commitment to the quality of life that we hold so dear."

Silverman said the Rays still believed in the vision of the proposed plan; however, not enough community support was available to make a timeline for a November referendum.

"We're passing the torch to the community and the new coalition," Silverman said.

Article published on Wednesday, June 25, 2008