Oregon lawmakers have taken an initial step toward borrowing $365 million to renovate Portland’s aging Moda Center, as concerns mount over the long-term future of the Portland Trail Blazers in the city.
On Thursday, the Senate Rules Committee voted 4-1 to advance Senate Bill 1501, which outlines how the state could finance its portion of a broader renovation effort estimated at more than $600 million. The arena, now 30 years old, is considered by team officials to be the oldest in the NBA that has not undergone a major overhaul.
If approved, the bill would allow the state to redirect income taxes generated by the Blazers, other Rose Quarter employers, construction firms involved in the renovation and even visiting performers into a dedicated fund. Oregon would begin issuing bonds next year, with construction potentially starting in summer 2027 and wrapping up by 2030 — when Portland is scheduled to host the NCAA Women’s Final Four.
The legislation includes key conditions. It requires the Blazers to complete a pending sale to Texas billionaire Tom Dundon and sign a 20-year lease to remain at the Moda Center. Public financing also hinges on formal agreements with the City of Portland, which owns the arena, and Multnomah County, both of which have pledged funding but have not yet finalized approvals.
Portland Mayor Keith Wilson has proposed $120 million upfront plus annual payments, while Multnomah County Chair Jessica Vega Pederson has pledged $88 million. Together with the state’s proposed contribution, the commitments exceed the projected renovation cost.
The bill also seeks safeguards for the state, including legal recourse if the team breaks its lease and assurances that taxpayers will not cover cost overruns outside the state’s responsibility.
Blazers executives have pushed hard for the funding at the Capitol. Dewayne Hankins, the team’s president of business operations, told lawmakers the proposal balances progress with accountability. Former Blazers star Terry Porter has also appeared in support.
Still, critics question whether taxpayers are getting a fair deal. Edan Krolewicz, a Blazers fan based in New York, has launched a campaign urging lawmakers to demand a share of team revenues in exchange for public financing, arguing the threat of relocation is overstated.
Gov. Tina Kotek and Senate President Rob Wagner have voiced concern that without upgrades, the franchise could be lured away by cities seeking NBA teams.
The bill now heads to the Legislature’s Ways and Means Committee for further review.
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