Multnomah County Approves Funding for Trail Blazers Arena Renovation
The Multnomah County Board of Commissioners has voted 4-1 to approve a funding plan for the renovation of the Moda Center, home of the Portland Trail Blazers. This decision allows for negotiations on a contribution of up to $101.6 million, which is an increase from the previously proposed $88 million.
The additional funds are intended to cover maintenance and service costs. The approval marks a preliminary step in the funding process, with further discussions expected between the county, the Blazers, and the city of Portland ahead of a vote scheduled for December.
The Blazers are seeking a total of $573 million from local and state officials, with the city council set to vote next week on its share of $120 million. The state has already allocated $365 million, contingent upon the completion of a new lease agreement by the end of the year. Negotiations have faced challenges, particularly regarding terms of the current lease, which have led to tensions between the city and the team.
