The Tampa Bay Rays have released more details on the costs and who would pay for a potential ballpark in Tampa.On Feb. 5, Rays released the initial renderings of the proposed ballpark and mixed-use district at Hillsborough Colle ges Dale Mabry campus.The Rays said, in collaboration with Hillsborough County, the City of Tampa, and the Tampa Sports Authority, they have released a Memorandum of Understanding (MOU), a formal but non-binding agreement with more information on the project's costs.Statement from the Rays We are grateful for the collaborative efforts of Hillsborough County, the City of Tampa, and the Tampa Sports Authority, as we work together toward a shared vision for the Rays Forever Home in Tampa Bay. This Memorandum of Understanding marks an important step forward and reflects a responsible public-private partnership that can be achieved through open communication and a commitment to getting this right for the community. We look forward to continuing these conversations with the County, City, TSA, Hillsborough College, and the community, as we refine the plan and move the process ahead.In an overview of the MOU provided by the Rays, the project budget is $2.3 billion with a maximum public contribution of $1.065 billion. The Rays said they will pay $1.235 billion plus project overruns.The terms of the stadium lease would be 35 years, with 15-year extension options.The Rays said no new taxes would be used to fund the project, and that existing taxes from the City of Tampa and Hillsborough County would pay for it. The chart provided by the Rays also shows a $64 million funding gap labeled "additional public funding resources."MORE: Hillsborough County Commissioners consider using voter-approved tax fund for $1.2B Tampa Bay Rays stadiumRead the Memorandum of Understanding overview MOU Overview by Tampa Bay 28 Full draft Memorandum of Understanding 47311548-Rays-City-County- Memorandum of Understanding (Working Draft) by Tampa Bay 28 A county attorney said in an email, "This document is purely the work product of the Rays organization; it has not been reviewed or analyzed by any of the government entities, including the County Administration or my office."The draft document also stated the goal is to have the stadium project completed by March 1, 2029, in time for the 2029 MLB season.The document also stated the parties shall work together to finalize and approve the project agreements by June 1, 2026, in order to maintain that schedule. ...read more read less