Public / Private Deal Struck for Coliseum

The 52-year-old Veterans Memorial Coliseum is likely set to be renovated.  A $31.5 million dollar funding agreement has been proposed and will be voted on by the Portland City Council next week.  The Portland Development Commission would spend $17.5 million and loan the city $4.4 million while the Portland Winterhawks would kick-in $10 million dollars.

Mayor Sam Adams who's exits his post December 31st considers the Coliseum a major project he had hoped to get settled before his term expired.

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