The future of the Trail Blazers in Portland will take another step Thursday.
Portland’s City Council is scheduled to publicly review a proposed agreement tied to renovations at the Moda Center, a deal that would include a 20-year commitment from the franchise to remain in the city through at least 2047.
According to Vasili Varlamos of KATU, representatives from the Trail Blazers are expected to attend the meeting and answer questions from council members.
The proposal calls for the team to make annual payments in lieu of taxes beginning at $3 million, with those payments increasing by 5 percent each year over the life of the agreement.
If the Blazers were to relocate before the commitment expires, the franchise would be required to repay a portion of the public investment based on the amount of time remaining on the deal.
The draft agreement also includes community benefit requirements, sustainability initiatives and a commitment to host at least 10 community events at Moda Center each year without rental costs.
The Trail Blazers, however, have already pushed back. A team official recently described the city’s proposal as “a non-starter,” while team spokesman Charles Boyle said concerns over potential legal action involving arena maintenance have complicated negotiations.
“We need the city to take the prospect of litigation off the table,” Boyle told The Oregonian, arguing that doing so would allow both sides to have more productive discussions about the arena’s future.
The arena renovation project received a major boost earlier this year when Oregon committed $365 million toward modernization efforts. That funding, however, depends on additional financial contributions from both the city and Multnomah County.
The City Council is expected to hear public testimony next week before a final vote is scheduled for Aug. 12.
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