Portland City Council President Jamie Dunphy has blocked off all of Wednesday, August 12, for what may be the most consequential vote in Pacific Northwest basketball history. The council is scheduled to vote on a term sheet committing $120 million toward Moda Center renovations — the final piece of a $600 million public funding package that would keep the Trail Blazers in Portland for at least 20 years.
The stakes could not be higher. Oregon's state legislature has already pledged $365 million, contingent on both the city and Multnomah County contributing their shares. The county voted 4-1 on August 6 to approve its $101.6 million portion. If Portland's council approves its term sheet today, formal negotiations between the city, county, state, and Blazers can begin — with a final deal targeted for December.
But the path to approval is far from clear. According to Oregon Public Broadcasting, half of the 12-person city council remains unimpressed with the current framework. All appear frustrated with how Blazers owner Tom Dundon has approached negotiations. And Portland still does not know how it will pay for its $120 million share — the Blazers have yet to share renovation plans detailed enough for the city to identify funding sources.
The current term sheet asks the Blazers for an annual $3 million payment (escalating 5% per year), agreement to use union labor, and a 20-year lease commitment. Blazers representatives have called the term sheet a "non-starter." Blazers president Dewayne Hankins has criticized Portland's "stagnant business climate, high income taxes and divisive political environment" as making the city "a tough city to invest in."
City Administrator Raymond Lee has warned that any delays could jeopardize the entire deal. The state needs to sell bonds in spring 2027 to complete construction in time for the 2030 NCAA Women's Final Four tournament at Moda Center. If that timeline slips, the state legislature may need to reauthorize new bonds — and Lee is not confident the appetite is there.
For Seattle, today's vote is a study in contrasts. While Portland's arena negotiations are mired in litigation threats, funding uncertainty, and ownership hostility, Seattle's situation is comparatively clean: Climate Pledge Arena is NBA-ready, privately financed, and already hosting three professional sports franchises. The NBA's expansion decision is expected by end of 2026. What happens in Portland today will shape what happens in Seattle by December.