Portland City Council Faces Deadline for Moda Center Lease Deal Amid Financial Commitments
Portland is currently negotiating a long-term lease for the Moda Center, home to the NBA's Portland Trail Blazers. The negotiations are driven by the need for significant renovations to the 31-year-old arena, estimated to cost at least $600 million. The state of Oregon has committed $365 million in bonds, while Multnomah County and the city of Portland have pledged additional funds. The city council is under pressure to finalize the lease agreement by mid-December, as the state's bonding authority expires in January. Public hearings and community input sessions are scheduled to gather feedback on the proposed funding and renovation plans. 
