Moda Center Deal Hits $120M Threshold | Portland News

Portland’s City Council just approved a bold $120 million funding proposal to keep the Trail Blazers in town, setting the stage for a $600 million arena overhaul. The deal demands a 20-year lease, $3.1 million annual rent, and rising tax offsets — with the city pushing for labor peace and community reinvestment. While some councilors balked over funding sources like the climate tax, others saw it as the only way to prevent a costly, empty arena and preserve Portland’s NBA legacy. Now, it’s up to new owner Tom Dundon — who wants the city to foot the entire bill — and NBA Commissioner Adam Silver to decide if the Blazers stay or go. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a6795c84185e0b5f