Moda Center

The Future of the Moda Center

For more than 30 years, the Moda Center has been one of Oregon's most iconic gathering places – home of the Portland Trail Blazers, a hub for concerts and community events, and soon, the home court of the Portland Fire. 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.

A Responsible City Investment

The City of Portland is evaluating the best way to support improvements to the Moda Center in a way that is financially sustainable.

Current discussions focus on using revenues generated in and around the Rose Quarter Campus (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 that 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.

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).

It is estimated that the sale of the Portland Trail Blazers franchise could generate approximately $50 million in Business License Tax payments to the City. This revenue is only generated as a result of the franchise sale. If it were not redirected to the project, it would normally go to the City's General Fund.

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 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.

What Comes Next?

The City's plan is moving forward in close partnership with the community leaders; City, County, and State leadership; the Portland City Council; and the Trail Blazers leadership to ensure the investment delivers measurable climate and community benefits.

Related Documents

About ‘Oregon's Arena'

Originally known as the Rose Garden, the Moda Center opened on October 12, 1995. The arena was developed by the Portland Trail Blazers' owner Paul Allen, co-founder of Microsoft, and was part of his vision to revitalize Portland's Central City. This development was a public-private partnership, with the City providing the majority of the land for the arena and investing public infrastructure development including two parking garages and the public plaza, among other supports.

In 2013, Moda Health secured naming rights to the venue and renamed it the Moda Center. It is owned by the City and operated by Rip City Management. The Moda Center, along with the historic Veterans Memorial Coliseum, make up the two major venues on the Rose Quarter Campus. The arena hosts a variety of events, from Blazers games to world-class concerts and major entertainment shows.

With a seating capacity of over 19,000 for basketball games and the ability to accommodate many other large events, the Moda Center is Oregon's premier sports and entertainment venue. The Moda Center attracts 1.5 million visitors a year and generates $600 million in annual economic activity, supporting thousands of jobs. It is an iconic part of the city's skyline and a major contributor to the city and state's cultural and economic landscape.

Bridge Agreement

In summer 2024 with the end of the original lease approaching, the City acquired the arena from the private owners and entered into a new operating lease with Rip City Management and the Portland Trail Blazers. The new operating lease runs through October 11, 2030, with an option for a five-year extension. Read more:

Moda Bridge Agreement Lease Summary 73.17 KB

To explore upcoming events, purchase tickets and plan your trip to Moda Center or Veterans Memorial Coliseum, visit the official Rose Quarter website.