TAMPA, Fla. — Thursday morning, Tampa's Community Redevelopment Agency approved $15 million in funding for a Florida Aquarium redevelopment project.
In three phases, expected to be completed by 2026, the aquarium will create four new exhibits, including a new penguin and sea lion exhibit, and the state's only puffin exhibit. The redevelopment plan also includes improved amenities for guests. The entire project is expected to cost $45 million, of which the aquarium will cover $30 million.
"It was a historic day for us here at the Florida Aquarium to have the city CRA fully invest $15 million into the Florida Aquarium's $45 million project," Florida Aquarium President and CEO Roger Germann said. "It means a lot because this is a cultural gem for the city of Tampa. This is a treasured icon in the Channel District."
Germann said the investment will help the entire region, as they are a dedicated community partner that creates an estimated $275 million economic impact on the region.
"To have that investment on behalf of the city and the CRA into the Florida Aquarium is just not only helps us today but really helps the city of Tampa into the future," Germann said.
Tampa's Community Redevelopment Agency's decision to approve the $15 million did not come without some debate, with some questioning whether this is the best use of the neighborhood funds.
CRA funding comes from tax increment financing in the city's eight major neighborhoods: Central Park, The Channel District, Downtown, Drew Park, East Tampa, Tampa Heights, West Tampa, and City. That money is reinvested back into each specific neighborhood.
Tax increment financing, according to the city, is a method to pay for the redevelopment of a slum or blighted area through the increased ad valorem tax revenue resulting from that redevelopment.
According to the CRA website, its mission is to fund projects that strengthen communities in an "equitable, diverse, and sustainable way."
Six of the seven members of the CRA were in support of the decision to give the $15 million to the aquarium, specifically because of their spirit of giving back to the community, and because they are investing $2 to the city's every $1 for the project.
However, some members of the public argued the aquarium shouldn't qualify for the funds, and that the money could be better used elsewhere to better the local community.
Activist Connie Burton said, "The work of a CRA is the elimination of slum and blight and doing away with our delinquency, it's hard for me to see how the aquarium fits into that."
District 4's Bill Carlson was the single CRA member who voted in opposition to the funding, arguing $15 million is too much.
"Many members of the public have asked us why we're using funding to house sea lions and not people, and I agree with them. What we need is more affordable housing," Carlson said.
But the aquarium says that as a dedicated community partner, it will continue to earn the city's support.
Germann said, "The investment in the Florida Aquarium will prove itself out to be beneficial to the entire city and the region, not just the Florida Aquarium."
The Florida Aquarium is funded through visitor fees, donations, grants and community partners. Germann said the last time that received city or tax-payer dollars was in 1997.