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Hillsborough County approves $358.5 million arena renovation, extends Lightning lease through 2043
Summary
The county approved up to $358.5 million from tourist development tax revenues for major renovations at Benchmark International Arena, with Tampa Bay Lightning and arena partners contributing $113.4 million; the board also extended the arena lease through June 30, 2043, and tightened non-relocation terms.
Hillsborough County commissioners on Jan. 21 approved an amended and restated arena renovation improvements agreement with Lightning Hockey LP and Tampa Bay Arena LLC that commits up to $358.5 million in county funds for major renovations to Benchmark International Arena.
Demarz of Hillsborough County communications said the county investment represents an increase of $250 million over the prior commitment and that arena partners, including the Tampa Bay Lightning, will contribute $113.4 million toward improvements. The county stated all funds will come from tourist development tax revenues and “no general fund dollars will be used.”
The board also agreed to extend the arena lease by six years, from June 30, 2037, through June 30, 2043, and approved updated non-relocation provisions the county described as ensuring the team remains in the community long term.
The recap did not provide a recorded vote tally, mover or seconder for the approvals. The agreement and lease amendments were described as county-approved actions during the meeting recap; specific contract terms, project phasing and construction timelines were not detailed in the summary provided.
Next steps noted by the county include moving forward with the renovation agreement and associated lease amendments; the county identified tourist development tax revenues as the funding source for the county’s portion of the project.
