Deciding the future of the Moda Center

The State of Oregon has committed to a $365 million renovation bond backed by player salaries. Multnomah County stepped up with $88 million in funding, largely paid for by a rental car tax. The City of Portland is expected to cover about $120 million. Our commitment is less than a quarter of the overall renovation cost, and we’re still debating the smartest funding source. Our share may be comparatively smaller, but it’s enough to put the brakes on the project if we don’t take our role seriously. 

Much of the debate has centered around the highest and best use of the Portland Clean Energy Community Benefits Fund (PCEF). I’ve staked my career, my business, and my family's livelihood on green transformation, and I don’t take any clean energy funding source lightly. If our PCEF committee believes that a portion of the funds they steward would be most impactful as part of the renovation process, we should rally behind their decision, including if it means diverting unspent funding from other projects. If they don’t make that determination, we’ll need to find another way. 

The Blazers are our primary tenant. They’re also responsible for much of the economic activity in the Moda Center. Their new owners have a negotiating style much like my own—fair, firm, friendly, and committed to the best outcome for those they serve. We have a strong negotiating position and plenty of leverage, and so do they. Ultimately, I believe that the City of Portland and the team ownership want many of the same things.  

I want the best deal for Portland, a deal that centers the thousands of jobs and hundreds of millions in annual economic activity generated by the team. Good process means sitting down, figuring out the math, and keeping the public informed and empowered every step of the way, not duking it out in the media or on Instagram.

It’s easy to be against transformational civic projects. There are risks, though a renovated arena holds far fewer risks than constructing a new one. Calling foul and throwing around accusations can boost re-election campaigns but we can't wave away the very real risk of declining tax revenue, broken promises to neighborhoods, and lost jobs. Big projects like this also attract opportunists, such as the Brooklyn-based techbro using our city’s dilemma to pitch his ‘civic engagement’ dot-com startup. (He reached out to me and offered to personally deliver 10 city council votes if I used the ‘term sheet’ he developed.)

Criticism is easy. Long-term vision is hard, and so are good negotiations. I believe the future of the Moda Center must be decided on the numbers and built on a foundation of our values. What do we want for Portland’s future? Do we want a future with nation-leading green infrastructure, a world-class entertainment destination, and good jobs? Are we willing to stake out our position on the West Coast, or are we willing to let Portland slide into flyover status, to say nothing of the economic headwinds posed by an aging, underperforming facility?

Ultimately, the Moda Center is a Portland story. It was once owned by a billionaire. Now it’s owned by the public. Let’s show what our stewardship can accomplish.