Portland, OR. — Portland Mayor Keith Wilson and City Council members issued a joint statement Thursday following the Senate Committee on Rules’ passage of Senate Bill 1501, legislation that would permit the State of Oregon to take on a formal role in renovating the Moda Center.
SB 1501 creates an “Oregon Arena Fund” and authorizes the Oregon Department of Administrative Services to negotiate agreements that could include state ownership interest in the facility. The measure would direct certain tax revenues tied to work and events at the Moda Center into the fund to cover renovation and operating costs.
Supporters say the framework is intended to help modernize the 30-year-old arena and retain the Portland Trail Blazers and incoming Portland Fire in Portland. However, the bill has raised questions about how state involvement might affect taxpayers. Under the proposal, income tax revenue that would otherwise flow into Oregon’s general fund could instead be redirected to the Arena Fund for renovation-related expenses…