Multnomah County Debates $100 Million Moda Center Funding as $80 Million Deficit Looms
Updated
Updated · KATU · Jun 23
Multnomah County Debates $100 Million Moda Center Funding as $80 Million Deficit Looms
1 articles · Updated · KATU · Jun 23
Summary
$100 million in proposed county support for Moda Center renovations drew pushback Tuesday as Multnomah County weighs the plan against an $80 million budget gap projected over the next four years.
$53 million would come from bonds backed by the county's 2.5% vehicle rental tax starting in 2031, plus $12 million in annual arena-improvement funding and up to $35 million in one-time business income tax revenue.
Meghan Moyer said borrowing against tax revenue not available until 2030 could raise the real cost well above $100 million, estimating roughly 41% extra in interest at current rates near 5.5%.
Julia Brim-Edwards questioned whether the project would create living-wage jobs with benefits, while Shannon Singleton pressed for labor and community agreements that preserve commitments to disadvantaged businesses and DEI goals.
Portland officials argue the arena already draws 1.4 million visitors a year and generates more than $600 million in regional economic activity, framing the renovation as an economic-development bet rather than a core-services expense.