PORTLAND, Ore. — A key task force examining the future of the Rose Quarter entertainment district has unveiled a preliminary proposal suggesting a potentially significant public investment, possibly totaling \”1.5 billion over the next 15 years, to address the needs of the Moda Center and surrounding area.
The Portland Arena Development Task Force, co-chaired by City Commissioner Dan Ryan and local business executive Sarah Jenkins, released its highly anticipated \”Initial Findings and Recommendations Report\” on April 24, 2025. The document outlines a phased approach to funding either extensive renovations to the existing arena or the construction of an entirely new facility in proximity to the current Moda Center.
A Vision for Future Development
The report posits a multi-year strategy, projecting a total investment need that could reach \”1.5 billion spanning a decade and a half. This ambitious figure underscores the scale of development envisioned for the vital downtown sports and entertainment hub.
Central to the task force’s recommendations is the concept of a public contribution to this significant undertaking. The report suggests that public funds could potentially constitute between 20% to 40% of the overall project cost. This percentage range indicates a substantial level of public participation in the financing structure, aimed at ensuring the longevity and modernization of the facility.
Proposed Funding Mechanisms
To finance the public’s share of the project, the task force’s recommendations include exploring various funding mechanisms. Among those identified are the potential use of general obligation bonds, a common tool where a municipality pledges its full faith and credit to repay the debt, typically through property taxes. Another mechanism proposed is the establishment of dedicated tax increment financing (TIF) districts. A TIF district allows future increases in property tax revenue within a designated area to be captured and used to fund improvements within that same area, leveraging growth to finance development.
These funding tools represent potential pathways for the city or other public entities to contribute the proposed 20% to 40% share of the estimated \”1.5 billion total project cost.
Contingency on Trail Blazers Agreement
A critical condition highlighted in the report is the dependence of public investment on securing a new, long-term lease agreement with the ownership group of the Portland Trail Blazers, the primary tenant of the Moda Center. The report explicitly links the viability of public financial commitment to finalizing terms with Vulcan Inc. officials, who represent the team’s ownership. This contingency underscores the city’s focus on ensuring the Trail Blazers’ continued presence and commitment to Portland as a prerequisite for potentially committing significant public resources to the facility.
Next Steps and Public Scrutiny
The release of the \”Initial Findings and Recommendations Report\” marks a significant milestone but is just the beginning of a lengthy public process. The report is preliminary, intended to solicit feedback and inform further decision-making.
Public hearings on the preliminary report are formally scheduled to commence on May 15, 2025. These sessions will provide community members, stakeholders, and interested parties the opportunity to review the findings, ask questions, and offer input on the task force’s recommendations. The input gathered during these hearings will be crucial as the proposal moves forward.
Following the public engagement phase, the plan is expected to advance for potential consideration by the Portland City Council. The council will ultimately be responsible for evaluating the recommendations, considering public feedback, and making decisions regarding any potential public investment and the future of the Moda Center development.
The task force’s report lays out a potential path forward for one of Portland’s major civic assets, balancing the need for modern facilities with questions of public expenditure and partnership with private ownership.
