Overview
- The renovation proposal seeks to modernize the 30-year-old arena and is presented as critical to keeping the NBA team in Portland.
- Sources say hesitation at the county level has delayed moving the city–state–county package forward to the Oregon Legislature.
- The plan’s framework calls for about $360 million in state-backed bonds supported by income taxes from athletes and performers, with roughly $240 million split by the city and county.
- City leaders favor tapping the Portland Clean Energy Fund, while the county share would rely largely on hotel and car-rental taxes once Oregon Convention Center debt is retired in 2030.
- Incoming owner Tom Dundon is not expected to add renovation cash, and with his purchase closing this spring and the lease expiring in 2030, pressure is mounting to secure funding on a Final Four–ready timeline.