PDC Seeks to Fund Coliseum Upgrades with Urban Renewal Funds

At the upcoming PDC Board meeting on May 11th, 3:00pm, the Portland Development Commission is expected to vote to use $375,000 of tax-increment funding to support updates to the Memorial Coliseum. This comes after the Northeast Coalition of Neighborhoods had voted to oppose Interstate Corridor urban renewal funds for the Rose Quarter. In this case the funds will come from the soon to expire Oregon Convention Center URA which will be folded into the Interstate Corridor project.

This action will benefit the public as it will create both construction and permanent jobs by allowing public funds to be used to make improvements to VMC (Veterans’ Memorial Coliseum). Improvements to VMC will revitalize and update the facility which will encourage more use as well as make the building more energy efficient. VMC improvements will also preserve this historic structure as a key component of the broader Rose Quarter redevelopment.

Read the Board Report on the proposed amendment here.

The meeting agenda is here.