Hillsborough College trustees took a formal first step Tuesday toward a possible Tampa Bay Rays stadium in Hillsborough County and a major redevelopment of the colleges Dale Mabry campus.In a unanimous voice vote, the board appr oved a non-binding memorandum of understanding (MOU) with the Rays, which sets the stage for negotiations on a long-term partnership and a potential new home for the team.The Rays released a statement regarding the vote.Watch video of meeting Rays Hillsborough College meetingThe Rays have been searching for what new-CEO Ken Babby calls a forever home for years, and Babby said the Hillsborough College site seems to check all of the boxes.We believe, with conviction, that were going to be able to create a world-class work-live-learn-play development here in Tampa Bay, Babby said.Under the concept outlined during the meeting, the college would be rebuilt and modernized in the southwest corner of the property, a Major League Baseball stadium would sit in the southeastern portion, and the northern part of the campus could include shops, restaurants, and housing. According to Babby, the project would create 12,000 new jobs and a $34 billion of economic impact.Some community members spoke in favor of the idea during public comment.Joe Robinson, with the West Tampa Community Development Corporation, believes the project would be a major economic boost for the area.This could be a sports corridor, he said. A destination.Others urged caution.Hillsborough College faculty member Josh Courson questioned whether the project would ultimately serve students or put a strain on affordability in the area.I ask you to consider who this deal really serves, Courson said.College president Ken Atwater responded later by emphasizing potential benefits for students if the project moves forward, including internships, workforce development, and career-connected education.This partnership represents a transformational opportunity for Hillsborough College, and most importantly, for the student experience, he said, in part. Its a positive situation from our perspective.Despite the vote, leaders on both sides stressed that the deal is still in its early stages.One of the biggest unanswered questions is cost.Babby declined to provide details on how a stadium and redevelopment might be financed, including how much local governments could be asked to contribute and how much the Rays would pay.Therell be plenty of time to work through those details, Babby said.Cost isnt the only obstacle.According to the MOU, part of the property is subject to state deed restrictions that limit its use to junior college purposes. Any stadium or mixed-use development would require those restrictions to be changed or removed.With the MOU approved, formal negotiations now begin.The Rays and Hillsborough College say they hope to bring a final, binding agreement back for consideration within 180 days, though the final product will also depend on city, county, and other regulatory approvals.Tampa Bay 28 received a copy of the MOU ahead of Tuesday afternoons District Board of Trustees meeting. 47192734-HC MOU (DRAFT) by Tampa Bay 28 The agreement calls for the college to lease most of the property, bounded by West Dr. Martin Luther King Jr. Boulevard, North Lois Avenue, West Tampa Bay Boulevard and North Dale Mabry Highway, to the Rays for at least 99 years.MORE: Rays, Hillsborough College set to sign nonbinding agreement for stadium, campus redevelopmentWATCH: Hillsborough College students react to potential Rays move before board meeting Hillsborough College students react to potential Rays move before board meeting ...read more read less