Senate Bill 110 has successfully passed through the Oregon Legislature with strong bipartisan support, receiving a 46-6 vote in the House of Representatives on Tuesday.
The bill authorizes the issuance of $800 million in bonds aimed at funding the construction of a professional baseball stadium in Portland’s South Waterfront area. Notably, the financing plan does not draw from the state’s current revenue; instead, it proposes to repay the bonds using income taxes collected from players and staff associated with the team. Advocates assert that it will be the responsibility of the team to secure the additional funding needed for the stadium, projected to cost around $2 billion.
However, there is no assurance that a Major League Baseball (MLB) team will materialize in Portland, as there is currently no publicly announced ownership group. The city is in competition with other locales vying for an MLB expansion team, with Salt Lake City notably further along in the process, having already identified a stadium site and a potential owner.
Despite these uncertainties, the passage of SB 110 keeps Portland’s aspirations for a new baseball team alive. Oregon lawmakers have expressed determination to bring professional baseball back to the city, with supporters emphasizing the potential economic boost the stadium could provide. They argue that the project, located on the 33-acre Zidell Yards site, would create jobs and draw fans, benefiting Portland’s struggling economy.
However, critics have raised concerns about the financial viability of the plan, questioning whether the proposed tax revenues will be sufficient to cover the bond repayments. John Calhoun from Tax Fairness Oregon expressed disappointment with the Legislature’s decision, arguing that the costs associated with the stadium could adversely affect state revenue.
This year’s legislation also raises the bond limit established by the 2003 Senate Bill 5, which allocated $150 million in bonds contingent on Portland securing a team. That earlier bill was introduced when the Montreal Expos were considering relocation, ultimately resulting in the team moving to Washington, D.C., in 2005 and rebranding as the Nationals. SB 110 now awaits the signature of Governor Tina Kotek, who is anticipated to approve the measure.
