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The Detroit Regional Convention Facility Authority (DRCFA) is a municipal Authority established by the State of Michigan for the purpose of overseeing the renovation, expansion and operation of Huntington Place Convention Center in Detroit, MI.The CEO/CFO serves as the senior executive officer on behalf of the DRCFA Board and is responsible for strategy, finance, budgeting, legal, audit, public reporting, lobbying, public relations, capital acquisition, safety & health, insurance & risk management, investment, capital projects and day-to-day oversight of all activities of the management company, contractors and vendors responsible for the day-to-day operation of a 2.4 million square foot convention facility.During my 12 years serving as the Chief Executive the DRCFA has:• Successfully lobbied the State of Michigan for changes to our enabling legislation that permit a new $500 million expansion/renovation of Huntington Place Convention Center.• Secured a 22-year, $33 million naming rights agreement with Huntington Bank to rename the convention center – it is the largest convention center naming rights agreement ever recorded.• Issued $296.35 million in municipal bonds to refund private placement financing. Combined financing package for redevelopment saved state taxpayers approximately $30 million over the life of the bond issue.• Secured $315 million private placement bond refinancing of existing Authority debt and funding of $279 million Huntington Place redevelopment program.• Increased operating revenues from $3.6 million to $19.5 million between 2009 and 2019 while operating loss declined from over $21 million to a profit $1.98 million during the same period.• Completed on-time and on-budget completion a $279 million redevelopment project and on-going capital improvements of approximately $10 million per year.• Established an Owners Controlled Insurance Program (O.C.I.P.) to provide general liability and worker’s compensation coverage for all contractors working on the $230 million Phase III of the Huntington Place redevelopment program. It is estimated that this program saved the DRCFA over $2 million during the life of the redevelopment project.• Oversaw 1.3 million construction hours and approximately $37 million in payroll with less than $100,000 in insurance claims over three years of construction activity.• Reduced insurance expense by over 10% while simultaneously improving the quality of coverage and cutting deductibles by 50%.
Calderone Hudson Group
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Executive DirectorCalderone Hudson Group May 2014 - PresentBirmingham, MiThe Calderone Hudson Group is a boutique financial and operational consultancy serving the national middle market. CHG specializes in working with both healthy and underperforming companies across multiple industries, with a special focus on clients operating in the casino and hospitality business, construction & engineering, distribution, manufacturing, consumer products, and transportation and logistics industries.
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PresidentStrategic Partner Management Consulting Apr 2001 - PresentClarkston, MichiganProvide strategic, financial and operations consulting services to clients operating in the real estate, hospitality and gaming industries.
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C.E.O./C.F.O.Huntington Place Detroit Regional Convention Facility Authority Mar 2011 - Jun 2023Detroit, MichiganChief executive responsible for finance, budgeting, legal, audit, public reporting, lobbying, public relations, capital acquisition, safety & health, insurance & risk management, and investment functions for State Authority charged with the operation and redevelopment of Huntington Place in Detroit, Michigan.•Directed the issuance of $295 million in the municipal bond market.•Secured $315 million in short-term private placement bond refinancing of existing Authority debt and funding of $279 million Huntington Placer redevelopment program.•Working with the State of Michigan, DRCFA project financing strategy saved state taxpayers over $30 million over the thirty-year life of the bond issue.•Oversee the activities of the management company, contractors and vendors responsible for the day-to-day operation of a 2.4 million square foot convention facility.•Achieved break-even net of state subsidies three years in a row and seven years ahead of state mandate.•Oversee the activities of the capital program team responsible for the on-time and on-budget completion of a $279 million redevelopment project.•Established an Owners Controlled Insurance Program (O.C.I.P.) to provide general liability and worker’s compensation coverage for all contractors working on the Huntington Place redevelopment program. It is estimated that this program will save the DRCFA over $2 million during the life of the redevelopment project.•Leader of the safety and risk management team that has overseen over 1,146,000 construction hours and approximately $32 million in payroll with less than $100,000 in insurance claims over three years.•Reduced insurance expense by over 10% while simultaneously improving the quality of coverage and cutting deductibles by 50%.•Improved the DRCFA commercial credit score from 55 (high risk) to 78 (above industry average) in three months through modified cash management and accounts payable processes.
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ManagerDeloitte Jun 1996 - Apr 2001Senior Consultant and Manager in the Real Estate, Hospitality and Gaming Consulting practice -
Financial AnalystMirage Resorts, Inc. Mar 1991 - Jun 1995Financial Analyst at the Golden Nugget and Treasure Island Resort properties
Patrick Bero Education Details
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Finance -
Finance And Operations
Frequently Asked Questions about Patrick Bero
What company does Patrick Bero work for?
Patrick Bero works for Calderone Hudson Group
What is Patrick Bero's role at the current company?
Patrick Bero's current role is C.E.O./C.F.O..
What is Patrick Bero's email address?
Patrick Bero's email address is pb****@****ter.com
What is Patrick Bero's direct phone number?
Patrick Bero's direct phone number is (313) 877*****
What schools did Patrick Bero attend?
Patrick Bero attended University Of Notre Dame, University Of Notre Dame - Mendoza College Of Business.
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Patrick Bero
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