Convention center authority makes early, $13.5 million debt payment that will save taxpayers #DetroitNews

Sherri Welch - The Detroit Regional Convention Facility Authority narrowed its operational loss for the seventh consecutive year in 2016 after paying down $13.5 million in taxable bonds, a move it says will save taxpayers about $11.7 million over the life of the bond issue or $7.75 million in present value dollars. The early payment represented more than half of the higher-interest $23.5 million taxable bond issue owed on the original $295.35 million in bonds taken out in November 2014, said Patrick Bero, CEO

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