Portland, OR. — The Portland City Council voted 8-4 Wednesday to approve a nonbinding framework for renovating the city-owned Moda Center and negotiating a long-term agreement with the Portland Trail Blazers.
The term sheet establishes the starting point for more detailed negotiations between the city and Rip City Management, which operates the arena and manages the Trail Blazers. City officials expect a final agreement to return to the council for consideration by December.
Under the proposed framework, the Trail Blazers would enter a binding 20-year agreement requiring the team to play all its home games at the Moda Center. The agreement would also include community benefit commitments, labor peace requirements and restrictions intended to protect public funding.
The term sheet does not represent a final contract or authorize the entire renovation project. Financial obligations and other details must still be negotiated and approved.
Council President Jamie Dunphy said the proposal reflects both Portland’s economic value and its community priorities.
“This city is a value proposition. It is also a place with values,” Dunphy said. “I am certain that our greatest chapter is ahead of us, and I hope that the Blazers are a part of that future.”
Mayor Keith Wilson said the vote allows the city to begin negotiations intended to produce an agreement benefiting Portland, the team and the broader community.
“The State of Oregon has already committed more than two-thirds of the capital funding required to renovate the Moda Center — a City-owned asset — and keep it a world-class venue,” Wilson said.
The proposed renovation is intended to modernize the arena, support its long-term operation and keep the Trail Blazers in Portland. The Moda Center opened in 1995 and remains publicly owned.
The term sheet also anticipates the creation of a joint public authority involving the city, state and county. The governing body would help oversee the arena project and related financial responsibilities.
Portland is working with state and county officials to establish the authority through an intergovernmental agreement, as directed by Senate Bill 1501. City officials expect the authority to be formed in early fall.
The four council members who opposed the term sheet were not identified in the city’s announcement. The final agreement will require another council vote before taking effect.
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