PORTLAND, Ore. (KATU) — Two Multnomah County commissioners plan to propose reducing the county’s contribution toward the proposed Moda Center renovation project ahead of a vote scheduled this week, KATU has learned.
Commissioners Julia Brim-Edwards and Meghan Moyer intend to introduce an amendment that would cut the county’s proposed contribution by $35 million. The proposal comes after Multnomah County Chair Jessica Vega Pederson recommended committing about $100 million to the project for the renovations and maintenance. Another amendment would require “a revenue stream” for the county to offset interest debt payments.
“We’re doing more than our share, more than our part, even at a reduced level,” Brim-Edwards told KATU on Tuesday.
One amendment would forego the county’s $35 million contribution from Business Income Tax (BIT) revenue from the sale of the team. Moyer and Brim-Edwards said BIT revenue could, instead, be used to address the county’s anticipated $60 million budget deficit over the next three years.
“I can’t, in good conscience, give $35 million to a renovation and then turn around and know that I have to do another $35 million worth of cuts to really, really critical safety net services. So that’s a line for me,” Moyer told KATU.
Their second amendment would require that the county “receive a revenue stream” of at least $4.5 million annually through 2049 to offset interest payments on debt tied to the county’s contribution to renovations.
With debt service included, the county’s proposal would cost taxpayers nearly $140 million through 2049. A breakdown of Vega Pederson’s funding framework is included below.
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Under the current proposed terms, Rip City Management LLC would pay $3 million annually instead of taxes. That money would be split evenly between Portland, Multnomah County, and Portland Public Schools (PPS).
Brim-Edwards’ and Moyer’s second amendment also proposes splitting that money “equitably” to all eight school districts in Multnomah County, including PPS.
It is unclear whether either of the county’s other commissioners will support the amendment. At least one additional vote would be needed for the proposal to advance.
The Multnomah County Board is expected to discuss and potentially vote on the funding package at a meeting on Thursday. The amendments will be presented in that meeting, as well.
More proposed changes are on the way. Vega Pederson said she will be introducing more amendments on Thursday. Moyer and Brim-Edwards also plan to introduce seven more amendments on Wednesday.
The Portland Trail Blazers has previously said it expects a total of $573 million in public funding for the Moda Center renovation project. If approved, the commissioners’ amendment would reduce the overall public funding package.
KATU reached out to the Trail Blazers for comment on the proposed amendment and will update this story if the team responds.
Vega Pederson told KATU in an email on Tuesday afternoon that Moyer’s and Brim-Edwards’ amendments were not yet shared with her or the other commissioners.
“This lack of transparency and good faith negotiating is disappointing. I am sure we’ll have a robust conversation this week,” Vega Pederson wrote.
Commissioners Shannon Singleton and Vince Jones-Dixon could be the deciding votes on many of the proposed amendments.
Singleton told KATU on Tuesday that she does not yet have an opinion on Moyer’s and Brim-Edwards’ proposals but is concerned that straying from the terms could jeopardize the Trail Blazers’ future in Portland.
“Walking away from this community and leaving a blighted arena is also not the right answer,” Singleton said. “I still have hope that there is opportunity for a good deal.”
