Oregon Approves Moda Center Renovation Bill Aimed at Keeping the Trail Blazers in Portland
Oregon Governor Tina Kotek signed Senate Bill 1501, which aims to modernize the Moda Center- seen as an economic anchor for the state- and ensure the Portland Trail Blazers remain in the city.
But there’s no binding agreement for the team to stay, and city and county leaders have yet to commit local dollars.
Bill To Secure Trail Blazers At Moda Center Signed Into Law
Senate Bill 1501 seeks to create new economic opportunities and help secure the Trail Blazers’ future in Oregon.
The bill invests in modernizing the arena to expand opportunities for world-class events and strengthen economic growth in the Lower Albina neighborhood.
Governor Kotek said, “This bill helps to ensure the future of Oregon’s NBA legacy by creating a world-class arena for games, performances, and other activities to support Oregon’s economy and Portland’s economic renaissance.”
Governor Kotek also indicated that Portland will host the NCAA Women’s Final Four in 2030 and events like an NBA or WNBA All-Star weekend will be within reach. The Portland Fire is also returning, with WNBA games set to start this year.
1.6 million people visit the Moda Center annually, and it generates an estimated $670 million annually in regional economic impact, including $113 million in direct visitor spending.
Source: Oregon Governor’s Office Senate Bill 1501 materials
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Nearly 4,500 jobs are tied to arena operations and tourism. The modernization of the arena, combined with major redevelopment in the surrounding area, represents billions of dollars in investment, but it is a once-in-a-generation opportunity to rebuild community wealth.
Funding For Moda Center Remains Opaque
Despite SB1501, there is no finalized deal with the Blazers, and there is no guarantee the team will ultimately stay.
Governor Tina Kotek said funding is contingent on reaching a binding, 20-year lease commitment from the Trail Blazers, an approved project scope, budget, and schedule, and financial commitments from both the City of Portland and Multnomah County.
No state bonds will be issued for the project without the agreement, and will be funded through a dedicated Oregon Arena Fund, which draws on revenues tied directly to venue activities, ensuring no increased tax burden on Oregonians.
The Blazers do not own the Moda Center; it is a publicly owned asset owned by the city.
The current proposal doesn’t include a direct financial contribution from the team. The city of Portland would need to pledge roughly $400 million over 20 years, and the city council has not yet agreed to do so.
If approved, funding would come from several sources, including business taxes, climate-related taxes, Prosper Portland (the city’s economic development agency), and the city’s Spectator Venues Fund (supported in part by surcharges on event tickets).