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A coalition of public, private and nonprofit partners are coming together to modernize Portland’s premiere sports and entertainment venue.
For more than 30 years, the Moda Center has been one of Oregon's most iconic gathering places – home of the Portland Trail Blazers and the Portland Fire, as well as a hub for concerts and community events. Now publicly owned, it truly belongs to all Oregonians.
As of 2026, the City of Portland and its partners are exploring a major renovation to modernize the arena, strengthen its role as an economic engine, and ensure it remains a world‑class facility for decades to come. Already, the State has committed $365 million to the project and Multnomah County is considering significant investment as well. The Moda Center is a key pillar of Mayor Keith Wilson's commitment to cleaner, greener, safer, affordable, and activated city.
"Our City owns the Moda Center. It's ours. We always knew renovation would come—and the right time to do it is now." —Mayor Keith Wilson
A Responsible City Investment
Why renovate and modernize now?
- The building is 30 years old, and the one of the oldest unrenovated NBA arenas
- Portland wants to remain competitive with other NBA and concert venues
- Opportunity to reduce long-term maintenance costs
- Going beyond Moda's Platinum LEED status with more opportunities to align with the City's climate goals to reduce carbon emissions
The City of Portland is evaluating how to support improvements to the Moda Center in a way that is financially and environmentally sustainable.
Current discussions focus on using revenues generated in and around the Rose Quarter Campus, which includes the Moda Center and the historic Veterans Memorial Coliseum, along with targeted investments from key City funds. The package under consideration includes:
- $120 million in capital improvements to renovate the arena.
- An estimated $285 million over 20 years to maintain the arena as a destination venue.
This approach ensures the City's contribution is strategic, transparent, and aligned with Portland's long‑term goals.
The City of Portland has proposed the following funding sources to support a new 20-year lease with the Portland Trail Blazers and renovate the Moda Center arena. Formalizing the City's commitment to allocating these funding sources will require additional details about the terms of the new lease with the Portland Trail Blazers, which have not yet been negotiated and will begin in earnest this spring. It will also require formal approval by the Portland City Council and other public bodies.
"We're bringing back Lower Albina with the Albina Vision Trust and 1803 Fund, and this stadium is a big part of that story." —Mayor Keith Wilson
Accelerating Restorative Development in Lower Albina
The Albina Rose Alliance is an essential partnership between the Trail Blazers and Albina Vision Trust to take real action on restorative development efforts in the Albina neighborhood. In the 1950s and 1960s, Albina was ripped apart by various development efforts, including Interstate 5 and by the original construction of Veterans Memorial Coliseum. This partnership is pushing for sustained investment in this area, transforming the area surrounding Moda Center to a vibrant, community-centered neighborhood.
Together, we're bringing back Lower Albina with the Albina Vision Trust and 1803 Fund, and Moda Center is a big part of that story. The economic revitalization from a renovated stadium will allow for more continued restorative development for Portland's historic Albina communities.
Potential Funding Opportunities
City Business License Tax Proceeds
The City of Portland began requiring businesses to obtain a license in 1854. Over the years, the City of Portland Business License Tax has been required for regulatory and revenue purposes. Today, Portland's Business License Tax is a net income tax on business activity (including renting residential and commercial real property) conducted in Portland. It is used as revenue for the General Fund (police, fire, some parks programs, and general government functions).
The City is anticipating potentially up to $45 million in tax revenue from the sale of the Portland Trail Blazers from the estate of Paul Allen to the new owners. Depending on various factors associated with the sale of the franchise, the amount and timing of any potential revenue is unknown and variable until collection and receipt is deemed final. This revenue is not currently allocated to any future expenses and could go towards the $120 million the City would invest in the Moda Center.
Portland Clean Energy Community Benefits Fund (PCEF)
PCEF is funded through a 1% surcharge on the Portland sales of large retailers with $1 billion in national revenue and supports projects that reduce carbon emissions and deliver meaningful community benefits. At the direction of Portland City Council, PCEF investments are guided by a five-year Climate Investment Plan (CIP).
If City Council supports allocating PCEF funds for relevant elements of the Moda Center renovation, the use of PCEF would require a formal amendment to the CIP and must meet all PCEF eligibility requirements. Any PCEF funding would be limited to specific project elements that directly advance PCEF's climate and community benefit goals and is and is expected to come from reallocating existing City strategic program allocations, rather than diverting funds from the community grants program.
Prosper Portland Strategic Investment Fund (SIF)
Prosper Portland's SIF supports a variety of local economic development initiatives, including housing, business development, and improvements to public infrastructure, in line with Prosper's goals for building an inclusive economy and vibrant community. It is a flexible funding tool intended to support impactful projects that might otherwise not come to fruition.
The proposed investment from the SIF into the Moda renovation project will reduce the funding from this source available to other strategic one-time economic development projects. This proposed funding source would need to be authorized by the Prosper Portland Board and Portland City Council in order to proceed.
Portland Spectator Venues Fund
The City's Spectator Venues & Visitor Activities Fund is a self-sustaining enterprise fund established to provide oversight of City-owned spectator facilities and to support City travel, tourism and visitor development efforts. Revenues are collected from ticket fees, parking revenues and an allocation from the City/Metro/County Visitor Facilities Intergovernmental Agreement, which is funded by a 2.5% transient lodging tax surcharge and a 2.5% vehicle rental tax surcharge.
Allocating funds from this source to support the Moda Center is consistent with the purposes of the fund.
"Portland deserves a world‑class arena. Moda is an economic crown jewel, and I'm committed to the best deal for our city." —Mayor Keith Wilson
A Greener Rose Garden
Moda Center is one of the first arenas to receive LEED Platinum Certification, the highest level of certification used to rate green buildings. The arena already runs on 100% renewable electricity, operates one of the nation's leading composting programs, and has eliminated more than one million single‑use cups since 2023. Today, we have an opportunity to build on that legacy and ensure Portland continues to lead the nation in sustainability technology, climate adaptation, and green-collar job creation.
By modernizing our existing arena rather than building new, and by upgrading systems with state-of-the-art green technology, we are able to maximize our carbon reduction impact. As we contemplate the design of the renovated arena and our practices while renovating, we are considering how upgrades and practices can reduce operational emissions, lower peak energy grid demand, and improve grid reliability. This could potentially look like:
- High‑efficiency HVAC and LED lighting
- Updated building automation and control systems
- Building‑envelope upgrades
- Water‑saving fixtures
- On‑site renewable energy
- Battery storage and demand‑response systems
- Support sustainable materials, including Oregon mass timber
- Achieve 100% landfill diversion during construction
"We'll renovate green, cut carbon, and do it the Portland way." —Mayor Keith Wilson
What Comes Next?
The City's negotiations are being led by the Mayor's Office and executive leadership, supported by three outside firms with extensive experience in major sports and venue agreements: Stafford Sports, Greenberg Traurig, and Dunn Carney. These firms are running point on negotiations with Rip City Management and Trail Blazers Inc.
The City is also coordinating closely with partners at the State of Oregon and Multnomah County, and staff have been meeting with peer cities to inform the work ahead as we pursue a long‑term lease and explore the creation of a joint authority with the state.