However, the issue was thrust into the spotlight last summer when NBA commissioner Adam Silver seemed to set the stakes for the franchise’s future with comments that “the city of Portland may need a new arena.” If you don’t build it, they will go. Dundon, who led a group that agreed to buy the Trail Blazers for $4.25 billion last summer, is not expected to provide additional cash to fund renovation projects, increasing pressure on local leaders to pay or face the consequences. The state would need to approve $360 million in bonds backed by income taxes from Moda Center athletes and performers, while the city and county would effectively distribute the remaining $240 million, according to sources with direct knowledge of the proposed package.
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This article originally appeared on Hoops Hype: State needs to approve $360 million in bonds…