Multnomah County Approves Plan to Further Moda Center Renovation
Blazer's Edge • • sports
Key Points:
- The Multnomah County Board of Commissioners approved a term sheet resolution to contribute $101 million toward the proposed $600 million renovation of the Moda Center, home of the Portland Trail Blazers, in a 4-1 vote.
- The County's funding is part of a larger public funding effort, with the State of Oregon already committing $365 million; the project now awaits a $120 million contribution from the City of Portland, which will vote on its term sheet on August 12.
- The County's approval and the upcoming City Council vote initiate formal negotiations among the County, City, and Trail Blazers, with a final vote on the renovation project expected in December.
- The term sheet includes provisions for renovations and ongoing capital expenses, an offset payment to cover county debt, and a County seat on the Joint Authority overseeing the project, though not all elements may be included in the final agreement.
