Two Multnomah County commissioners seek to reduce county share of Moda Center renovation - KATU

What the report says

KATU reports that Multnomah County Commissioners Julia Brim-Edwards and Meghan Moyer plan to seek a $35 million reduction in the county’s proposed contribution to the Moda Center renovation package before a county vote expected this week. County Chair Jessica Vega Pederson had recommended roughly $100 million for renovation and maintenance costs tied to the Portland Trail Blazers’ arena in Portland.

According to KATU, the commissioners’ amendment would remove a planned $35 million county contribution from Business Income Tax revenue related to a potential team sale. Moyer and Brim-Edwards said that money could be used instead to help address an anticipated $60 million county budget gap over the next three years. A second amendment would require the county to receive at least $4.5 million per year through 2049 to cover interest costs associated with debt for the project. KATU reported that, including debt service, the county proposal would total nearly $140 million through 2049.

The existing framework would have Rip City Management LLC make $3 million annual payments in lieu of taxes, divided among Portland, Multnomah County and Portland Public Schools. Brim-Edwards and Moyer also want that money distributed more broadly among all eight school districts in the county.

The amendments’ prospects remain uncertain. KATU reported that at least one additional commissioner would need to support the changes for them to advance, with Shannon Singleton and Vince Jones-Dixon potentially pivotal. Vega Pederson criticized the process in an email to KATU, while Singleton said she had not formed a position but was concerned about the broader implications for the Blazers’ future in Portland. The Trail Blazers have previously said they expect $573 million in public funding for the renovation.