Executive Committee Meeting 10-15-24

Leadership Brief

Page 12 of 95

DMCVB Leadership Brief

Issue: Visit Detroit has committed to substantial hospitality elements to host the NCAA Men’s Final Four in 2027. These include facility costs, City of Detroit Services, marketing, transportation, staging, etc. A budget is being created and will be reportable to the Board of Directors. Recommendation: That the DMCVB Board of Directors authorize creation of a Designated Fund and line item within the Annual Budget solely for the purpose of hosting the NCAA Men’s Final Four in 2027 at a level sufficient to cover all or most of the expenses incurred for this event.

Proposed Motion: The Board of Directors Authorizes creation of a designated NCAA Men’s Final Four Hosting Fund and approves deposits up to $1 Million Annually 2025, 2026 & 2027 from DMCVB income.