Metro Mayors Urge Portland to Finalize $573 Million Moda Center Deal by Aug. 12

1 articles · Updated · KATU · Jul 20

A 24-city coalition of Portland-area mayors pressed city and state leaders to lock in the Moda Center renovation framework, arguing the arena’s economic reach extends across the metro region.
The push comes after Portland released a 14-page draft term sheet to Trail Blazers ownership on July 16, starting a new round of talks over a long-term lease and the public funding package.
$365 million from the state and $100 million from Multnomah County are already committed, while Portland’s roughly $120 million share is still being negotiated alongside taxpayer protections and lease terms.
The letter stopped short of demanding immediate approval, instead urging officials to keep asking hard questions as pressure builds after NBA Commissioner Adam Silver said talks had 'gone off track.'
City Council is expected to vote on the term sheet by Aug. 12, with a final lease targeted later this year to secure the Trail Blazers’ long-term future in Portland.