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The Rays' ongoing search for a new ballpark location took a significant step Tuesday as the Hillsborough College Board of Trustees unanimously approved a non-binding memorandum of understanding (MOU) to consider transforming the school's Dale Mabry campus into a stadium-centered, mixed-use district.

The vote authorizes formal negotiations and sets a 180-day window to produce definitive agreements. City of Tampa and Hillsborough County approvals would still be required, and the board can end the MOU at any time.

'We are encouraged to take this early but very important step forward in bringing a shared and innovative concept to life for all of Tampa Bay,' Rays CEO Ken Babby said.

Under the framework, the college would carve out a 'College District' on the site's southwest corner for new campus facilities, while the Rays would receive a long-term ground lease, no less than 99 years, on the remainder.

The team would build and control a surrounding mixed-use development that could include housing, retail, hotels, offices, restaurants and parking. Stadium construction must minimize any interference with classes and operations, potentially through temporary facilities. If public funds help build the ballpark, ownership would transfer to Hillsborough County.

Florida Governor Ron DeSantis voiced support, saying, 'Baseball can succeed in the Tampa Bay area,' and adding that the state could assist with infrastructure even if it won't help pay for the stadium.

The Rays' new ownership group has set Opening Day of the 2029 season as its target and has repeatedly cited the development of The Battery Atlanta, which includes Truist Park, home of the Braves, as a model for generating year-round revenue.

For now, the team will return to Tropicana Field next season while both sides work to turn the MOU into a binding agreement over the next six months.

--Field Level Media