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Senate hearing on SB 15‑01 lays out state, city, county plan to renovate Moda Center; key funding questions remain
Summary
Lawmakers heard hours of testimony supporting SB 15‑01, a framework to create an Oregon Arena Fund and enable shared ownership and 20‑year bonding for renovations to Portland's Moda Center; sponsors framed the bill as a first step, local officials pledged millions in local investment, and opponents warned of redirected tax revenue and worker wage concerns.
The Senate Rules Committee on Feb. 11 held a lengthy public hearing on Senate Bill 15‑01, a bill to create the Oregon Arena Fund, enable shared ownership of the Moda Center between the state and Portland, and provide a pathway for long‑term financing to renovate and operate the arena.
Sponsor Sen. Rob Wagner told the committee the bill creates a framework for a partnership to secure Oregon’s arena and estimated the venue drives roughly $670 million in regional economic activity. He described three core elements: establishing shared ownership and a joint authority, creating the Oregon Arena Fund in the state treasury, and directing state agencies to track arena‑generated tax receipts to help pay debt service and operations.
Gov. Tina Kotek testified in support, calling the venue…
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