Flip side is if the team moves all the"Jock tax" funds are gone so the general fund is smaller than if the state paid for arena upgrades.
Not saying it's right, but that's what pro sports do everywhere.
Oregon set themselves into a corner by funding a baseball arena.
that's a net zero for the general fund, at least it is insofar as the specific jock tax. Now the overall impact to the general fund from the hypothetical loss of the Blazers after 2030 is another matter
I'm not really sure where this sense of urgency, bordering on panic, is coming from. The 'plan' seems to be pretty complex and filled with potential stmbling blocks. We're already seeing there may be some significant disagreements about components of the proposal between the Blazers, the City, and the County
County leaders are reluctant to commit $40 million in unexpected tax revenue to Moda Center renovations, complicating the franchise's funding efforts as new ownership prepares to take control.
www.oregonlive.com
and it sure sounds like there is mounting opposition to the City deciding to use 75M from the voter approved climate fund. These may be small disagreements that will be easily overcome; or maybe the ease of overcoming them will take enough time that the State won't be able consider the proposal this session. And if this proposal doesn't have clear sailing in the City & County, it's probably not just going to coast thru a legislature with reps from all over the state. Anybody who pays attention would know that getting a bill like this thru the state legislature would be much easier next year when it's a 6 month session than this year's one month session that is already bogged down with the transportation budget
also, and it may be I'm just dumb & ignorant, but I'm about 80% convinced the math on the jock tax paying for, and retiring the 360M in bonding isn't close to working
also, as part of this rushed proposal, as Sly has been pointing out, what exactly is this 600M going to be used for. Has anybody said? Has there been any engineering and/or detailed design planning that derived this 600M number? or is it just throwing a number out there and talking about vague renovation ideas? Has there been any detailed comparison about the pros and cons of spending 600M on a Moda renovation vs 1.2B on a new arena?
this whole operation kind of looks like a bulldozer being driven by an unlicensed first time operator