Portland Diamond Project’s stadium funding bill passes Oregon Senate

PORTLAND, Ore. (KOIN) – Major League Baseball is one step closer to sliding home in Portland after the Oregon Senate passed a bill that would grant funding to build a stadium in the city.

The Portland Diamond Project and several city leaders have thrown their weight behind Senate Bill 110, which would allow lawmakers to allocate $800 million in funding toward the construction of a new ballpark.

SB 110 builds on a pre-existing law from 2003, which set aside $150 million in financial support for the professional team that fanatics have urged for several decades. Instead of public funds, the bill’s revenue source would be taxes charged to local and visiting baseball players and other organization employees.

They would be expected to repay the bonds within 30 years.

At the first public hearing for the measure, supporters contended that investing in an MLB team would also serve as an investment for the city as a whole.

The Oregon Senate Committee on Finance and Revenue then gave the bill a “do-pass” recommendation earlier this month. With the official approval of the Senate, it now moves to the Oregon House.

The Portland Diamond Project has advocated for a local franchise since its founding in 2017. The organization has already proposed the South Waterfront’s Zidell Yards as the team’s potential stomping grounds.

PDP Founder and President Craig Cheek previously told KOIN 6 that ballpark’s first opening day wouldn’t be until 2028 or 2029. MLB Commissioner Rob Manfred has said he hopes to begin the process of expanding the league with two new teams before his retirement in 2029.

Stay with KOIN 6 News as we continue to follow this bill.