Oregon lawmakers propose legislation to fund $600 million Moda Center renovation project
Published 4:03 pm Monday, February 9, 2026
Oregon lawmakers introduced new legislation to the state Senate to fund renovations to the Moda Center, home of the NBA’s Portland Trail Blazers, on Monday.
Introduced by Senate President Rob Wagner (D-Lake Oswego), Senate Bill 1501 aims to redirect income taxes from the state’s general fund directly to a new fund, dubbed the “Oregon Arena Fund”, for renovation costs for the Moda Center. Taxes from work in and around Moda Center would be directed into the OAF.
Texas billionaire Tom Dundon led a group that purchased the Trail Blazers from the estate of the team’s late owner, Paul Allen, for a reported $4.25 billion in August 2025. In January, The Oregonian reported the franchise was expected to ask Oregon’s legislature for help funding a reported $600 million renovation project; and that Dundon “is not expected” to foot the bill on renovation costs.
“The Moda Center, with the Portland Trail Blazers as its anchor tenant, is a source of civic pride and is critical to the strength and continued growth of our local, regional, and statewide economies,” Sen. Wagner said. “Renovating Oregon’s Arena is the best investment we can make in Oregon’s economic future.”
Located in Portland’s Rose Quarter, Moda Center opened in 1995. It is the league’s oldest venue that hasn’t undergone a “major renovation”, according to a press release supporting the legislation from state leaders such as Gov. Tina Kotek and Portland Mayor Keith Wilson, amongst others.
“The key to ensuring Portland remains Rip City for years to come is a significant renovation of Moda Center,” The statement reads. “We must invest in this publicly-owned, community asset that serves as an economic engine for our state and brings millions of Oregonians and other visitors together each year for concerts, family shows, and community events.”
Along with redirecting funds, Wagner’s bill is the framework for the Oregon Department of Administrative Services and the City of Portland to “develop a multi-jurisdictional agreement” for ownership and operation of the Moda Center. Currently, the city owns both the arena and the land it sits on.
If passed, SB 1501’s funds would be accessible if the Blazers agree “to lease the Moda Center for specified term.” The length of that term was not specified in the three-page bill.
Renovating the arena is expected to play a major factor in the Trail Blazers’ looming decision on whether or not to renew their lease at the Moda Center. The current lease expires in 2030. Alternatively, Dundon could opt to relocate the franchise out the Rose City, where the Blazers have called home since their 1970 founding.
According to Sen. Wagner and the city, Moda Center carries an annual financial impact of $670 million, employs roughly 4,500 people and hosts more than 240 sporting events yearly.
The state Senate hasn’t scheduled SB 1501’s first hearing at the time of this article’s publication.