Patrick Bero Email & Phone Number

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%.