The St. Petersburg City Council last week authorized negotiations to get under way with two developers that want to redevelop Tropicana Field, where the Major League Baseball’s Tampa Bay Rays now play.

The project is one component in the Rays’ plan to build a $450 million, 35,000-seat ballpark on the city’s downtown waterfront. Funding of the stadium is expected to involve the issuance of bonds. The Rays are expected to propose a financing plan by May 16.

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