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Senate hearing on SB 15‑01 lays out state, city, county plan to renovate Moda Center; key funding questions remain
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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 ‘‘Oregon’s arena’’ and saying it draws about 1.6 million visitors annually and supports thousands of jobs. Local leaders — Portland Mayor Keith Wilson and Multnomah County Chair Jessica Vega Peterson — told the committee they were prepared to contribute local funds as part of a package. Mayor Wilson described a local investment plan citing $120,000,000 of upfront capital with an average of $14,000,000 per year for capital and operations, while Chair Vega Peterson said Multnomah County is considering an $88,000,000 contribution, identifying potential sources including a motor vehicle rental tax surcharge and county business income tax allocations.
Supporters from the Portland Trail Blazers, the Albina Vision Trust, business groups and tourism organizations emphasized the arena’s role in job creation, cultural events and tourism. Duane Hankins, president of business operations for Rip City Management and the Trail Blazers, said the 30‑year‑old building needs significant renovation and called a multi‑hundred‑million‑dollar investment necessary to secure the arena’s future.
Opponents raised fiscal and equity concerns. Testimony from Steven Wright argued the bill diverts revenues that would otherwise fund core state services and questioned whether billionaire owners should be asked to contribute more; Eileen Kiley criticized public subsidies for private franchises. Labor testimony from Stefan Moritz of Unite Here urged that any public investment include enforceable commitments to living wages and adequate benefits for arena workers, citing worker testimonials about inconsistent hours and lack of health care.
Committee members probed funding mechanics, asking whether local participation should be required in statute and pressing sponsors on the triggers that would permit bond sales. Sen. Kate Lieber and sponsors said SB 15‑01 is a first step to create the vehicle; the bonding bill will include triggers and guarantees and bonds would not be sold without mutually acceptable long‑term lease terms and appropriate sideboards to protect taxpayers.
The hearing closed with no committee vote on SB 15‑01 recorded in this transcript. Sponsors and local partners emphasized the bill is intended to start negotiations and that details about bond amounts, lease terms and statutory sideboards will be worked out in subsequent legislation and agreements.
