The Trail Blazers’ proposed $600 million renovation of Moda Center faces uncertainty as team officials and local leaders appear unlikely to reach an agreement before a December funding deadline, according to Shane Dixon Kavanaugh and Bill Oram of The Oregonian.
Missing the state-imposed deadline could jeopardize Oregon’s planned $365 million contribution. Portland has pledged another $120 million, with Multnomah County contributing $88 million.
“That timeline is simply not going to happen at this point. There’s not been meaningful progress,” Portland City Council President Jamie Dunphy told The Oregonian. “We’ve not got into any brass tacks about what we’re buying with $600 million.”
According to the report, the Blazers have not formally responded to a term sheet approved by the city council this summer. Officials also are awaiting architectural renderings, a renovation budget and information about community benefits and labor agreements.
The sides remain divided over a requirement that the team maintain the arena in “first-class condition,” the report said. Controlling owner Tom Dundon also has not committed to the 20-year lease extension state lawmakers require for their funding contribution, according to The Oregonian’s sources.
The Blazers said Thursday they remain committed to completing an agreement.
“We remain fully committed to working with our public partners to finalize an agreement,” team spokesperson Charles Boyle said. “We have been working toward this goal for years, and we are doing everything we can to get it done.”
A missed deadline would not necessarily end the renovation effort. The team’s current lease runs through 2030, leaving time for further negotiations. However, the availability of state funding beyond the deadline is uncertain.
Portland officials have said an agreement needs to be reached by late November to allow a council vote before its mid-December recess. State officials also need a completed lease agreement before proceeding with bond sales to finance Oregon’s contribution.
Multnomah County Commissioner and Chair-elect Shannon Singleton said weekly meetings on the project stopped in October.
“I don’t feel super hopeful at this time,” she told The Oregonian.
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