Over the past eleven years, the Community Investment Tax has generated $993.7 million to fund a wide range of improvements that will greatly benefit our community.The funds are and will be used for capital improvement projects throughout Hillsborough County, including the City of Tampa, Plant City and Temple Terrace in the following areas: education, public safety, transportation, water, wastewater, reclaimed water, stormwater, community stadiums, parks, libraries, museums, and government facilities.
The Community Investment Tax is a half-penny sales tax approved by voters in September 1996. 25 percent of the revenue collected from this tax is designated for the construction of new public school facilities. NOTE: The projects and their costs and status in this current report are as of September 30, 2008.
For information and assistance on the Community Investment Tax projects and all other County construction projects, call (813) 272-5275.
This report includes information on the following jurisdictions and their use of the Community Investment Tax:
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Tampa Sports Authority
Funded by the Community Investment Tax, Raymond James Stadium, a premier sports facility, opened with a sold-out crowd. Opening on schedule and meeting the $168.5 million budget, the Stadium was a culmination of modern stadium design and groundbreaking innovations.
Probably the most recognized and talked about elements of the Stadium design are the pirate cove and ship in the north end zone, the picnic areas in the south end zone, the 65,000-square-foot club lounges complete with large multiple screen televisions, and the dual video boards in each end zone.
The financing plan to build the Stadium included issuing $148 million in Community-Investment Tax-funded bonds. These bonds were refinanced in 2005, which resulted in a savings on debt service payments of approximately $625,000 annually. These savings allows more CIT money to be spent on other community projects.
The Tampa Sports Authority has successfully hosted four Super Bowls, two of which have been played at Raymond James Stadium, Super Bowl XLIII in 2009 and Super Bowl XXXV in 2001.
View Tampa Sports Authority’s Complete Project Status List
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