According to Bank of America, Raymond James Financial and city administrators, St. Petersburg is well-positioned to contribute $287.5 million toward the Historic Gas Plant District’s over $6.5 billion redevelopment.
However, some council members remain unconvinced of the city’s ability to service that debt over three decades of economic uncertainty without raising taxes or taking much-needed money from the general fund. That was the overarching theme at the May 8 development agreement workshop, mostly excluding plans for a $1.3 billion ballpark.
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