Portland City Council Approves $120 Million for Moda Center Renovations
The term sheet sets up lease talks with the Trail Blazers and commits city money for renovation and maintenance, with public benefits still under negotiation.
- On Wednesday, the Portland City Council voted 8-4 to approve a term sheet for Portland Trail Blazers lease negotiations and advanced a redevelopment partnership with the Albina Vision Trust to revitalize property near the arena.
- Councilors committed up to $120 million for Moda Center renovations and $275 million for maintenance over a 20-year lease, following a bruising budget year where the city cut programs to address a $170 million revenue gap.
- Four councilors voted against the term sheet, citing concerns that the Trail Blazers had not engaged in good faith and that the city remained unclear on how to fund its share of the project.
- The Albina Vision Trust aims to use the property to reconnect the neighborhood into a cohesive district, prioritizing residents displaced by historical city development practices in the historic Albina neighborhood.
- Council President Jamie Dunphy expects lease negotiations with the team to wrap by early December, describing the period ahead as 'a very dense three months' for the city's negotiating team.
11 Articles
11 Articles
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Portland OKs $395M Blazer bailout (snuck in taxes)
By Taxpayers Association of Oregon, OregonWatchdog.com Yesterday, Portland City Council approved a $395 million taxpayer-funded package of aid for the Portland Blazers by pledging to assist with the Moda-center remodel. Interestingly, the City of Portland owns the arena. This amounts to $120 million for immediate remodeling and $270 million for remodeling and upgrades over 20...
Portland City Council votes 8-4 to approve $120M Moda Center renovation term sheet
This article was written by Jared Cowley and Evan Watson from KGW: PORTLAND, Ore. — Portland City Council voted 8-4 Wednesday to approve an amended, nonbinding term sheet, taking the first step toward a deal that could put up to $120 million in city money into a renovation of the Moda Center and keep the Trail Blazers
Portland city councilors agree on Moda Center negotiations
City councilors vote 8 to 4 to advance Moda Center renovations, with the goal of keeping the Portland Trailblazers in the city for 20 more years. Though negotiations, voting, and discussions aren't completed, as more funding and leasing votes will continue 2026 and likely into 2027.
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