Gov. DeSantis backs Hillsborough College campus funding, defends Rays’ $10 lease

Gov. Ron DeSantis is giving the Tampa Bay Rays ballpark agreement with Hillsborough College and local governments another nod of confidence, indicating his support for $50 million in state funding slated to support campus renovations.

The comments come as local officials, state budget writers and others continue scrutinizing the public pieces of the proposed deal, including a 99-year lease approved by Hillsborough College Trustees that would give the Rays’ development entity long-term control over portions of the Dale Mabry campus for a nominal rent of $10 per year.

The agreement could also be extended up to four times for 10 years each, potentially stretching the arrangement well beyond a century.

Questions arose after Hillsborough College approved the lease agreement with the Rays last week. The Tampa Bay Business Journal reported that the dollar figure sparked questions by Tampa Sports Authority members about the value of the land, arguing that it should be included in calculations for public funding contributed toward the Rays ballpark project. 

The $10 in rent per year agreed to by the college is far from the development value of the land, according to a map prepared by Hillsborough County Property Appraiser Bob Henriquez’s Office. The map identifies five parcels in the proposed development area with a combined appraiser “market” value of about $161.2 million, including about $48.9 million in land value.

Henriquez, however, also cautioned against treating tax assessment figures for the affected parcels as a proxy for their value in a redevelopment deal. The map also shows all but one of the parcels currently listed with $0 in taxable value, reflecting the public nature of much of the college property.

“These are assessed values for tax purposes based on current use, much of it associated with the community college (which previously included a restrictive covenant for educational purposes), and are not intended to represent open-market sale value or future development potential,” Henriquez told Florida Politics.

DeSantis pushed back on concerns Wednesday, saying the property has limited value under its current use and that its economic potential depends on pairing it with the kind of large-scale entertainment district the Rays are planning. DeSantis said the proposal “would be significantly bigger than The Battery in Atlanta.”

“I remember someone said, like, ‘Well, what would be the value of this property?’ Honestly, I don’t think it’s very valuable under current use at all. No one’s going to build a housing development there. No one’s going to do, like, office space there,” DeSantis said.

“What would you do there unless you had this type of mixed-use vision? That’s really the only thing I think that would bring it to life and ultimately produce a lot of, and it’s not just all about producing revenue for the local government but I do think it would produce jobs. So all that’s important.”

Although the rent is nominal, the potential benefit to the school is tied to $50 million currently included in Public Education Capital Outlay funding for needed Dale Mabry campus renovations. DeSantis said the $50 million could be just the tip of the iceberg, and that additional funding for the college could be necessary in the future. But he quelled rumors that the state was considering up to $150 million in funding for the college during ongoing budget talks.

“I think the money will be fine,” DeSantis said.

“If the deal happens, HCC will get more money, because they need money because the campus has problems. And rather than try to refurbish the current footprint, I’d rather do something special and make it something that’s really significant; that obviously will have a good working relationship with the ball club and all the surrounding entertainment and lodging that’s created there. I think that’ll be very compelling.”

DeSantis also explained that school leadership is on board with the plan.

“We want to help HCC. This was something that the (college) Board and the President thinks is in their interest. I did too, but I was like, ‘Look, if you guys tell me this isn’t good then then tell me that.’ And they said, ‘No, this is going to be good.’”

The state has also agreed to convey land to the college to support renovation efforts, and DeSantis said the Florida Department of Transportation (FDOT) is also committed to upgrades to roads and infrastructure around the proposed ballpark and entertainment district, and the

“FDOT already tells me they can do the overpass where you can walk across from Raymond James over there, and that, I think there’s going to be two of those,” he said.

He said existing offices on the state land were slated for relocation soon, easing the land deal.

“We’re supportive of helping with the surroundings because I think it’s in the best interest of the state to do it,” DeSantis said.

“We actually have some state agencies. Our Department of Juvenile Justice facility, they’ve been trying to get out of there for a long time. They were already scheduled to leave, having nothing to do with this. And then Florida Department of Law Enforcement has a building there. They’ve wanted to get out for a long time too. We didn’t necessarily have it planned, but now that if this project comes to fruition, FDLE will be thankful that they’re able to relocate to a different part of Tampa.

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Janelle Irwin Taylor of Florida Politics contributed to this report.