Multnomah County Approves Up to $101.6 Million for Portland Trail Blazers’ Moda Center Renovation

The Multnomah County Board of Commissioners voted 4‑1 to approve a term sheet that would make up to $101.6 million available for the renovation of the 31‑year‑old Moda Center, the home arena of the Portland Trail Blazers. The amount is $13.6 million higher than the $88 million originally proposed in March and is intended to fund construction, maintenance and service costs for the arena overhaul.

County chair Jessica Vega Pederson said the move signals the county’s commitment to keeping the Trail Blazers in Portland. The funding will be drawn from sources such as the motor‑vehicle rental tax and tourism taxes rather than the county’s business‑income‑tax revenues. The term sheet is a preliminary step; the city of Portland must still approve its share of roughly $120 million, and the Oregon state legislature has already earmarked $365 million. The Trail Blazers are seeking a total package of about $573 million from county, city and state officials, contingent on a new long‑term lease agreement that would extend the team’s stay beyond the current bridge lease that runs until October 2030.