St. Petersburg will appraise Trop site after selecting proposal

St. Petersburg will reappraise 86 acres of prime real estate, currently home to Tropicana Field, but not before selecting a new redevelopment proposal.

Some City Council members expressed dismay over the timeline on Thursday. The most recent valuation is over two years old, and Mayor Ken Welch announced plans to advance the proposal process in October.

Welch will delay the 30-day submission window’s launch until Jan. 4. However, in a memo sent to the Council on Wednesday, he doubled down on his decision not to reissue a formal request for proposals (RFP) – the genesis for the subsequent debate.

“To be really blunt, I think if we’re going to be serious about this, start counting votes now,” Council member Gina Driscoll said to the administration.

“If I’m not comfortable with the process, I’m probably not going to be comfortable with the proposal that’s brought before us to vote on.”

She and multiple colleagues believe the city should have conducted a new appraisal in the time between the Tampa Bay Rays, now under new ownership, exiting a new stadium deal in March, and Welch’s Oct. 21 announcement that he would welcome additional proposals in mid-November.

Officials received an unsolicited $6.8 billion bid Oct. 3 from a group led by ARK Investment Management and Ellison Development. The city is acting pursuant to a state statute that mandates a 30-day window before selling property in a community redevelopment area (CRA).

Council member Lisset Hanewicz said an appraisal typically occurs before making a deal, “not after the fact.” City Development Administrator James Corbett noted that St. Petersburg spent two years negotiating redevelopment agreements with the Rays.

“I’m not going to wait for the appraisal until after we start negotiating a deal,” Corbett added. “It will be before that. I also want to time the appraisal where it’s not too dated.”

Council member Brandi Gabbard said several constituents have expressed concerns over the site’s unknown valuation. Ark Ellison Horus will pay the city “at least” $202 million for 94.5 acres.

The group believes its $2.1 million per-acre offer reflects the project’s “premier location and transformative potential.” The Rays planned to purchase 65 acres for $105 million – $1.6 million per acre – and offered $50 million in community benefits.

Gabbard is among those who want a formal RFP process and additional time. She also reminded her colleagues that they approved her Oct. 16 request for a Committee discussion on hiring the Urban Land Institute (ULI) to conduct an unbiased, professional study on the Gas Plant’s best uses.

Welch wrote that reissuing an RFP is neither necessary nor beneficial since the project’s 23 guiding principles, established in 2022 and “confirmed by subsequent community convenings,” remain unchanged. He also noted that developers previously had 60 days from the time of his announcement to submit proposals, and now have 105.

“I don’t understand this rush for a win right now,” Gabbard said.

Council member Mike Harting is “good” with not reissuing an RFP. He also credited Council member Richie Floyd for requesting additional time, and Welch for acquiescing.

Municipalities prioritize the “greater good” over profits, Harting continued, and the generational project will exponentially increase property tax collections. However, those benefits are hard to quantify.

“We’re not going to sell the property for what it’s valued at,” Harting said. “We’re going to sell it for less … And I get that, but I want to be comfortable with the logic … and what that looks like for the city.”

Council member Deborah Figgs-Sanders said she thinks about “that little girl whose church was totally destroyed” when the city displaced thousands of Black residents in the 1980s to build the stadium. She took issue with people who call the process rushed or believe officials should maximize their financial return.

“I can’t stand when people want to make decisions for other people like that – what’s best for other people?” Figgs-Sanders said. “I can’t place value on letting some of the descendants of the Gas Plant area finally see something done.”

She also questioned whether the ULI study would include locals who understand the area’s history and importance. No one understands the property’s worth better than the people who once called the Gas Plant home, Figgs-Sanders added.

Gabbard said the ULI group could include experts from throughout the region – the organization has a Tampa office – the state or beyond. Community partners would work with people who “understand very complex projects.”

Corbett said the city would launch its community benefits process once officials and the selected developer establish a term sheet. Welch wrote that jobs, housing, equitable economic development, resilience, green space and “meaningful recognition” of the Gas Plant community remain atop the priority list.

“The only material change from those principles is that the inclusion of a new stadium for the Tampa Rays, in partnership with Pinellas County, is no longer instrumental in planning the redevelopment,” states his memo. “Our unified work to include the Tampa Bay Rays in the long-term vision of the Historic Gas plant, and their subsequent abdication, have provided more clarity for our city and the property.”

Welch said he would no longer support offering Intown CRA tax-increment financing to help fund the project. “Any reconsideration by the new owners … regarding a future new stadium development would require other funding sources.”

Floyd withdrew his resolution that, if approved Thursday, would have urged Welch to launch a formal RFP and extend the submission deadline. However, he said it would be “harder” to approve a proposal while disagreeing with the process.

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Mark Parker reports via St. Pete Catalyst; republished with permission.