What is the story about?
Today the City of Portland will discuss terms for funding the renovation of the Moda Center arena, home of the Portland Trail Blazers. Discussion is ongoing in other threads on site, but a piece of news has come to light from a preliminary, revised version of the funding offer sheet, as reported by The Oregonian.
The city is considering asking the Blazers for $2 million annually in rent as an anchor tenant of the arena. This would be on top of a $3 million annual payment for property tax offset already
in the proposal.
The Blazers have balked at the costs associated with a preliminary version of the offer sheet, one that did not include the $2 million in rent.
The city will finalize its offer sheet in a meeting today.
