City Advances First‑Draft Moda Center Term Sheet, Establishing Framework to Keep Trail Blazers in Portland

Today, executive leadership met with Portland City Council in executive session to review the first‑draft term sheet for the transformative renovation of Moda Center and long‑term tenancy of the Trail Blazers. The draft reflects the City's priorities, community feedback, and direction from Council.

The City has produced a term sheet that is reasonable, fair, and focused on keeping the Trail Blazers in Portland, ensuring the long‑term viability of the City‑owned arena, and delivering meaningful community benefits. The draft outlines a framework for a modernized, publicly owned Moda Center that supports economic vitality and strengthens the partnership between the team and the community.

Key terms in the City's draft include:

• Non‑relocation commitment: A binding 20‑year agreement requiring the Trail Blazers to play all home games at Moda Center.
• Labor harmony agreements: Requirements for labor‑peace agreements to support a stable workforce.
• Financial protections: Clear caps on public funding, limits on eligible expenses, and safeguards for the City, State and County against cost overruns.
• Payment: A $3 million annual payment for property tax offset payment from Rip City Management, escalating over time, with proceeds shared among the City, County, and Portland Public Schools.
• Community benefits commitments: Requirements for community event access, local hiring, sustainability standards, and partnerships with Albina‑based organizations.

The City delivered the draft term sheet to the Trail Blazers following Council review today. Next steps include continued negotiations with the Trail Blazers to refine and finalize a term sheet as the City prepares for a Council vote in August. This marks an important step toward securing a long‑term agreement that keeps the team in Portland and delivers a renovated, state-of-the-art Moda Center for the entire community.

Read the first-draft term sheet here.