Political pressure to complete a funding deal to renovate Portland’s Moda Center is growing more public.
Keith Wilson, the Oregon city’s mayor, issued a plea to the city council to approve their part of a public funding package to renovate the Trail Blazers’ home arena, and said the agreement is at risk of collapsing.
Already, the state of Oregon has committed up to $365 million toward the project, and Multnomah County has pledged another $88 million. The deal, however, has stalled as city officials debate the funding source for their portion, currently pegged at up to $120 million.
Overall, the Moda Center renovation has a projected cost of nearly $600 million. The city owns the building, while the Trail Blazers’ Rip City Management operates it.
“Our share may be comparatively smaller, but it’s enough to put the brakes on the project if we don’t take our role seriously,” Wilson wrote in an open letter.
