Portland Trail Blazers executive and Oregon Senate President discuss public financing plan to help upgrade Moda Center

When the Oregon legislative session kicked off last month, state lawmakers had just five weeks to tackle a slate of priorities. One of those was a plan Democratic state and local leaders championed to keep the Portland Trail Blazers’ prospective new owners from moving the beloved basketball team out of Rip City. Lawmakers in Salem moved closer to that goal with the passage of SB 1501 in the final days of the session. The bill received bipartisan support and allows the state to borrow $365 million by issuing bonds to help pay for the costly renovation of the Moda Center, the aging arena that’s home to the Blazers. The public financing plan has several conditions including: the Blazers’ sale to its new ownership group, led by Tom Dundon, gets approved by the NBA; the team agrees to a 20-year Moda Center lease; and the City of Portland and Multnomah County must also pitch in hundreds of millions of dollars for the renovation. Joining us for a discussion about the public financing plan are Oregon Senate President Rob Wagner, who sponsored the bill, and Dewayne Hankins, President of Business Operations for the Portland Trail Blazers.