03 — Funding Breakdown

How we arrived at the different funding figures

In short: of the roughly $573M in proposed upfront public funding, the state and county are covering most of it, leaving the city responsible for $120M upfront plus up to $275M in eligible projects over the next 20 years.

There are a lot of numbers thrown around about the renovation, partly because some refer to the upfront renovation while others include costs over the following 20 years. So I'm going to start with the most basic number and build from there:

The Blazers requested roughly $600M for the renovation. The proposed renovation does not include a direct contribution from team ownership. Speaking to the Portland Metro Chamber in June 2026, owner Tom Dundon said: "It feels like we're making a pretty big investment by staying here and paying these tax rates." The proposed public funding package now includes contributions from the State of Oregon, Multnomah County and the City of Portland.

Breakdown of state, county, and city funding pledges

The proposed upfront public funding totals roughly $573M:

up to $365M in state-authorized bonds
up to $88M from Multnomah County
$120M from the City of Portland

That's only the upfront portion of the City's and County's commitments, though. The City-approved term sheet also includes funding for eligible arena projects over the following 20 years:

up to $275M in City funding
up to $13.6M in County funding

Added to its $120M upfront, that brings the City's total commitment to $395M over 20 years; the County's total reaches $101.6M.

This is where the $395M 20-year City figure shown in the overview comes from.

Estimated 20-year cost to the city, by outcome

The City's share of the upfront renovation is lower because the state would cover $365M of the $573M renovation. The state's bonds would be repaid over 20 years using income-tax withholding from players, performers and others working at the Moda Center, rather than through a new tax.