SALEM, Ore.-A public hearing on proposed legislation to renovate Portland’s Moda Center into a world-class sports and entertainment venue and hopefully keep the Trail Blazers in the Rose City for decades was held on February 11.
“Supporting the Moda Center — with the Trail Blazers as its anchor tenant — is a step this Legislature must take to keep millions of dollars in economic activity in Oregon, continue to draw major events and tourists to our state, and preserve the growth and investment we are seeing in the neighborhood surrounding the arena,” said Senate President Rob Wagner (D-Lake Oswego).
Senate Bill 1501, sponsored by Senate President Wagner, would allow Oregon to join a multi-jurisdictional agreement with Portland and Multnomah County to renovate the arena without creating new taxes.
“This is not new taxation,” said Dewayne Hankins, President of Business Operations for the Portland Trail Blazers and Rip City Management during testimony in support of SB1501.
Governor Tina Kotek, members of the Oregon State Senate and House, Multnomah County and Trail Blazers officials, and Portland Mayor Keith Wilson, all testified before the Senate Committee on Rules in support of the legislation.
Senate Bill 1501
“This is our opportunity to secure Portland’s future, revitalize historic neighborhoods, and strengthen Oregon’s economic competitiveness,” Governor Kotek said. “Upgrading Moda Center – home of the Portland Trail Blazers is a smart investment in Oregon’s economic future.”
The City of Portland currently owns the Moda Center, however, SB1501 would provide a pathway toward shared ownership between the state and city, allowing the state to potentially utilize general obligation bonds, backed by Oregon’s General Fund, over 20 years to finance renovations.
SB1501 would establish the Oregon Arena Fund that would generate revenue to renovate, maintain and operate the Moda Center through income taxes paid by Trail Blazers players and employers in Portland’s Rose Quarter, including entertainers and construction firms doing the renovation work.
The proposed legislation would also direct state agencies to work with the Moda Center to quantify the taxes generated by sport and entertainment events at the center and reinvest those into the Oregon Arena Fund.
Moda Center
The 20,500 seat Moda Center opened in 1995 and is Oregon’s busiest entertainment venue, hosting over 240 events each year, including Trail Blazers home games, concerts and community events.
The Moda Center is now the fifth-oldest arena in the National Basketball Association (NBA), and is the oldest that has yet to undergo an extensive renovation.
“Renovating the Moda Center isn’t about one building—it’s about Oregon’s future,” said Portland Mayor Keith Wilson. “This project strengthens our economy, supports communities across the state, and ensures Oregon remains competitive for major events and investment.”
Proposed renovations to the Moda Center include upgraded audio and visual features to enhance the fan experience during games and concerts, as well as customized seating, hospitality, and social viewing options and back-of-house improvements for events.
If approved, Moda Center renovations would start in 2027 and be finished in 2030.
Portland Trail Blazers
“The Blazers are proof that something can be both emotionally meaningful and economically strategic,” House Majority Leader Ben Bowman (D-Tigard) said during testimony on SB1501. “Investing in an anchor institution like this is not about nostalgia — it’s about foresight.”
The Trail Blazers have called Portland home since the team’s inception in 1970, however, without renovations and upgrades to the Moda Center, there is uncertainty about the team’s future in the Rose City.
The Trail Blazers current lease with the Moda Center expires in 2030, and while new owner Tom Dundon, who purchased the team for $4.25 billion last September has not announced any plans to move the franchise, the team is also not expected to foot the bill for renovations.
“A $600 million investment serves the long-term future of major league sports and world-class entertainment in Oregon,” said Hankins.
The Senate Committee on Rules will hold a work session on SB1501 on February 16.
