logo
#

Latest news with #LipseyScott

With Rays stadium project uncertain, Woodson Museum pulls funding request
With Rays stadium project uncertain, Woodson Museum pulls funding request

Yahoo

time25-02-2025

  • Business
  • Yahoo

With Rays stadium project uncertain, Woodson Museum pulls funding request

The Woodson African American Museum of Florida is pulling its request for $10 million from Pinellas County due to uncertainty surrounding the redevelopment of the Historic Gas Plant District and plans to build a new Tampa Bay Rays stadium. The museum's executive director, Terri Lipsey Scott, wrote a letter to the Pinellas County Commission, which was considering the request at its Tuesday meeting. The item will be pulled off the commission's agenda. A plan to build a new $1.3 billion stadium for the Rays and surround it with condos, affordable housing, restaurants, shops, office space and the first African American history museum built in the state appears to be on life support. St. Petersburg and Pinellas County approved the deal and public funding to the tune of $742 million, but now it's up to the Rays and development partner Hines to carry out their end of the deal. The Rays have until March 31 to meet certain criteria and prove they have their share to pay for the stadium — $700 million — and have done enough work to move forward. Recent remarks from the Rays have pointed fingers at the county and city for delaying votes on financing, which they say has resulted in unaffordable cost increases.. 'Despite our best efforts, we face challenges in meeting the criteria set for this year's Capital funding cycle, particularly given the uncertainties surrounding the master development of the Gas Plant redevelopment project,' Lipsey Scott wrote, adding that the museum plans to reapply 'when a greater degree of certainty has been reached.' The museum was seeking $10 million from the county's tourist tax. It needed special consideration from the County Commission because the Woodson's patrons don't book enough nights at hotels and other short-term rentals. Based on that criteria, funding for the Woodson was unlikely to be recommended by Pinellas County's tourism bureau and board. As part of the Rays stadium and Gas Plant agreement reached last summer, the Rays and Hines would give $10 million to the Woodson as part of a community benefits pledge. But it came with conditions. That money is contingent on completion of a financing plan, a guaranteed maximum price from a contractor and proof that the Woodson has fundraising deposits and/or commitments totaling at least 50% of that guaranteed maximum price. The Woodson is seeking to relocate to the Gas Plant into a new two-story, 41,262—square-foot facility expected to cost $38 million. It is currently located in the former community center and management office of the Jordan Park housing complex. This is a developing story. Check back for updates.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store