City Commissioners next week will consider an ordinance to amend the operating agreement with Rip City Management for the operation of Veterans Memorial Coliseum, extending the term to Oct. 11, 2025.
An extension to the Coliseum’s operating agreement would be the eighth amendment since the agreement was established in 1993.
Rip City Management operates both the Veterans Memorial Coliseum, home to the Portland Winterhawks, and the Moda Center, home to the Portland Trail Blazers. Both arenas host countless additional events including concerts, college basketball and amateur sports tournaments, family shows, corporate meetings and community events.
The Coliseum Operating Agreement is one of a suite of agreements within the Rose Quarter that direct the development and operations of the Veterans Memorial Coliseum and the Moda Center, along with multiple public and privately owned parking garages and other facilities.
Most of the Moda Center sits on City-owned land and is at the center of a ground lease between the City and Rip City Management. The original term of the Arena Ground Lease is set to expire Oct. 11, 2025.
“Extending the term of Coliseum’s operating agreement to align with the ground lease at the Moda Center provides the City and Rip City Management an opportunity to collectively look at the big picture and plan for future improvements and operations of both the Moda Center and the Veterans Memorial Coliseum,” said Karl Lisle, who manages the City’s Spectator Venues and Visitor Activities Program.
The ordinance to amend the Coliseum Operating Agreement is expected to go before City Council for a first reading and public testimony Sept. 28, then for a Council vote Oct. 5.
The current agreement, if not amended, will expire June 30, 2023.
Original source can be found here.
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