On Friday the Oregon House of Representatives passed Senate Bill 1501 by a 43-13 margin, completing the proposal’s journey through the state legislature, sending it to Governor Tina Kotek for final approval. Since Governor Kotek was one of the early advocates of the bill, it’s expected to be a fait accompli at this point. The Portland Trail Blazers will receive public assistance in renovating the Moda Center, the arena in which the team plays for 41 games each season.
The bill offers $365 million
in funding out of the estimated $600 needed to renovate the aging building which has been the Trail Blazers’ home since 1995. The funds come from the portion of the state’s income tax revenue generated by the Blazers and teams playing in the arena, plus franchise employees and other workers who carry out their tasks in the Rose Quarter environs. The bill creates an Oregon Arena Fund in which to deposit those tax revenues and from which repair costs can be compensated. The agreement is contingent on a 20-year lease for the Blazers to remain in residence.
The Blazers issued a press release following the house vote, similar to the one released after the Oregon Senate passed the bill 24-6 on Wednesday:
“This is a great day for our community,” said Dewayne Hankins, Portland Trail Blazers President of Business Operations. “Thank you to Speaker Fahey, Majority Leader Bowman, Representative Nosse, and all the members of the Oregon House who passed Senate Bill 1501. Thank you to Governor Kotek, who has championed Oregon’s Arena from the very start. And, thank you to every Oregonian who weighed in throughout the legislative process with stories about what Moda Center and the Blazers mean to them. Rip City truly does run deep. This is a once-in-a-generation opportunity to renovate Moda Center and catalyze economic growth in the heart of a vibrant Lower Albina neighborhood. Working with local leaders, we’re ready to get started on the next chapter for this franchise.”
We’ll continue to update this story as warranted.
