S5.23 25-0062 Subject: Operating Funds For George P. Scotlan Convention Center From: Economic And Workforce Development Department Recommendation: Adopt A Resolution Of The City Council (1) Authorizing The City Administrator To: (A) Execute A Third Amendment To An Amended And Restated Management Agreement With Integrated Services Corporation (ISC) For The Management And Operation Of The George P. Scotlan Memorial Convention Center (Convention Center), Authorizing During Fiscal Year 2024-25 With Two 1-Year Options To Extend Without Returning To Council The Following Actions: (I) Re-Allocate Capital Reserves, In An Amount Not To Exceed $150,000, For The Payment Of Operating Expenses; (II) Suspend ISC's Annual 6-8% Deposit For Capital Reserves; (III) Postpone The Repayment Of $350,000 Towards Capital Reserves; And (IV) Re-Allocate The City's Continuing Building Costs Reserve In An Amount Not To Exceed $168,750 Quarterly Or $675,000 Annually For The Payment Of Operating Expenses; (B) Re-Allocate Redevelopment Bond Funds In An Amount Not To Exceed $550,000 Of Redevelopment Funds For The Convention Center's Capital Reserves; (C) Accept And Appropriate An Amount Not To Exceed $750,000 In Rent From A New Telecommunications Lease At The Convention Center For Operating Expenses; And (2) Adopting Appropriate California Environmental Quality Act (CEQA) Exemption Findings