Pressure builds in Moda Center lease fight
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The carousel of Moda Center drama continues to spin with the city putting its first offer in writing, the county offering fresh doubts and the NBA's big boss weighing in.
Why it matters: The back and forth would almost be comical if there weren't millions of public dollars and the future of Portland's only major professional sports team at stake.
Driving the news: The city delivered a draft term sheet last week for a new 20-year lease with the Blazers.
- It included caps on how much public money could go toward upgrading the arena.
- And $3 million in annual payments from the team that would escalate over time, with the money going to the city, county and Portland Public Schools.
Catch up quick: The aging arena needs roughly $600 million in upgrades, which the new owners have said they aren't willing to chip in for.
- The state has put up $365 million, but that money is contingent on the city and county ponying up more than $100 million each. Meanwhile, some fear that without renovations the new owners could try to move the team elsewhere.
Context: The city said the term sheet included "direction from council" after a three-hour executive session, but that was news to some councilors.
- Councilor Mitch Green said on social media it was "extremely misleading to paint the process this way," and that councilors gave some feedback, but that policy should be crafted in public, not in private sessions.
Between the lines: Meanwhile, some county commissioners — who are also weighing an investment of more than $100 million for Moda's overhaul — had fresh reservations about the process.
- A letter from three commissioners called for a "reset" to figure out how the county would benefit before they commit to chipping in, per the Oregonian.
The other side: A coalition of business types and local organizations launched "We are Rip City" last week, an effort to persuade the city and county to put up the money for the remodel.
- "The civic community cannot stand by and hope for the best," Jim Etzel, Sport Oregon CEO and one of the coalition's co-chairs, said in a statement. "If we miss this window, we will not get another."
Meanwhile, the lack of progress hasn't escaped the attention of the NBA's top brass, with commissioner Adam Silver admitting that negotiations had "gone off track."
What's next: City councilors are set to meet again this week to discuss the finer points of the negotiations ahead of an Aug. 12 deadline to vote on a new term sheet.