Moda Center Renovation Advances
Legislation to fund renovations at Portland's Moda Center has advanced in Salem with bipartisan support, signaling local government backing for major sports infrastructure investment. The bill represents a significant commitment to modernizing the Trail Blazers' home venue. Bipartisan support suggests strong confidence in the project's economic impact.
Opened in 1995 at a cost of $262 million, the 30-year-old Moda Center is the oldest arena in the NBA that has not yet undergone a major renovation. The city of Portland took ownership of the arena from a Trail Blazers-affiliated company for just $1 in 2024 as part of a bridge lease agreement. The proposed $600 million renovation is outlined in Senate Bill 1501. This bill would create a dedicated Oregon Arena Fund, using income taxes from player salaries and arena events—not the state's general fund—to back the issuance of state bonds. Under the proposal, the state would contribute up to $365 million. The City of Portland has pledged an initial $120 million, with more in yearly payments, and Multnomah County is expected to contribute $88 million. The Trail Blazers' new ownership group, led by Texas billionaire Tom Dundon, is not expected to directly contribute to the renovation costs. The public financing is contingent on the Trail Blazers signing a new, 20-year lease. The team is currently under a short-term lease agreement that runs through 2030, with an option to extend to 2035. Supporters argue the investment is crucial for retaining the Trail Blazers and securing Portland's economic future, citing the arena's $670 million annual economic impact and the 4,500 jobs it supports. The renovation is also seen as vital for attracting other major events. Portland is slated to host the 2030 NCAA Women's Final Four and is the home of a new WNBA team, the Portland Fire, which is scheduled to begin playing in the Moda Center in 2026.
