This seems bad to me. This puts the cost of the Moda renovation on taxpayers. Looking at the lack of renovation to the Memorial Coliseum or even agreement on what to do with it, I don't trust the city to do shit with the Moda. Also, it's pretty much guaranteed that a billionaire will buy the Blazers, this trend of having taxpayers pay for arenas and stadiums for billionaires to house their team or they threaten to move is BS. The Blazers have a strong financial incentive to maintain and improve the Moda. Taking that away from them puts them in a position to demand a new taxpayer-funded arena under threat of moving.
"The term sheet for the new agreement, which I have viewed and which will be voted on by the City Council next week, lays out what the sides are calling a “public-private partnership” involving a transfer of the arena from the team to the city and a roadmap to keeping the Moda Center, which is the oldest NBA arena to never undergo a major renovation, viable as a long-term home for the Blazers."