Local
Portland weighs creating public authority to oversee Moda Center investment
City Council is scheduled to consider an agreement creating a joint authority with Multnomah County and Oregon to oversee public investment and future renovations at the Moda Center. The proposal would establish a governance structure, not finalize the project’s financing or renovation terms.
Portland City Council is scheduled to discuss a proposal Wednesday evening to create a public authority involving the city, Multnomah County and the state to oversee the future of the Moda Center.
The proposed Oregon Arena Joint Authority would help oversee public investment in the arena and its future renovations. Council members are expected to consider how the authority would operate and how the project could proceed. The discussion is set for 6 p.m., ahead of the Trail Blazers’ scheduled 7 p.m. season opener.
The proposal follows Senate Bill 1501-B, signed into law in March, which established a funding framework for arena renovations and created the Oregon Arena Fund. The law also calls for binding commitments from Portland and Multnomah County to help pay for construction, renovations and maintenance.
Portland approved a nonbinding term sheet in August outlining proposed renovation terms, the city’s potential funding commitment and a 20-year lease commitment from the Trail Blazers. Wednesday’s proposal would not complete those financial or renovation agreements.
The authority could give the public a clearer view of how government partners would oversee the investment and the obligations tied to the arena’s future. The effort is part of a broader push to keep the Trail Blazers in Portland, but negotiations over renovations have not yet produced final agreements.