Renovating the Moda Center: what's proposed, how it happened, and what actually matters
If you're confused about the Moda Center renovation you're not alone. There are a lot of conflicting numbers and plenty of speculation out there (which is fair, because it's complicated). What very few people have done is actually show the blunt specifics about what should actually matter to the city of Portland: how much does each option cost.
And with that, I'm going to begin at the end:
The renovation calls for $573M in upfront public funding: up to $365M in state-authorized bonds, up to $88M from the County, and $120M from the City. Over the following 20 years, the City would provide up to another $275M and the County up to $13.6M for eligible projects, bringing the total public commitment to $861.6M.
The first graphic above only shows the City's 20-year costs, which is why those numbers are lower. (Full breakdown on the Funding Figures and Long-Term Costs pages.)
What this site tries to do is strip out the emotion, put the actual numbers back in, and explain some of the nuance behind the timeline. It's only been a year since Tom Dundon was announced as the buyer for the Blazers. A lot happened during that year, and most people seem to forget it. Why did the State get involved in the funding? Why did the city buy the Moda Center for $1 in 2024? Why does one side call this the worst arena deal in history, while the other side says it is essential for the economic health of the city? The goal is to lay out the specifics, without speculating beyond the facts.
If you have questions, issues, or constructive critiques, feel free to share them: gavin_m_hamilton@yahoo.com.
The graphic above might look puzzling at first. It only shows figures in the $400M range, but the full public commitment is considerably larger once you zoom out: