Set aside Tourist Taxes and tax rebates, the core public funding for the proposed Tampa Bay Rays stadium in Tampa is the use of the Community Investment Tax. The Rays are suggesting the tax will generate more than the $3.5 billion the county estimates the tax will bring in. For Tampa, over the 15 years of the tax the estimated revenue is $783,000,000. As I understand it from listening to Tampa Sports Authority Board Chair Patrick Manteiga, the city and county are estimating an annual growth of 3% which is included in the projected revenue. The Rays are suggesting it will be 4.5% and want the 1.5% off the top. Meaning if growth is less than 4.5%, the city and county would have to cut their budgets to make up the difference.

Assuming the Ray’s projection is correct, I thought it would be interesting to ask readers and the community, “how would you spend an extra 64 million dollars?”

The categories are primarily pulled from existing “buckets” the city has earmarked for CIT funds with the exception of public transportation and stormwater, but I feel confident if there are stadium sized loopholes in how the funds can spent, there’s room for stormwater and streetcar expansion.