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15 percent of all food and beverage revenues if they exceed $1,100,000. In no event could Pleasanton Golf, LLC (CourseCo) receive an "incentive" fee that is greater than the "fixed" fee. The following table illustrates the proposed fee structure compared to the current fee structure as described under the Management and Incentive Fees Operator section of the operator agreement: Operating Year Total Management Fee 80% Fixed Fee Attainable Proposed Contract - January 1, 2020 to $150,000 $120,000 June 30, 2025 50% Fixed Fee Current Contract Fee Structure' - July 1, $204,000 $102,000 2015 to June 30, 2020 As noted in the table above, the 80 percent fixed fee will increase by $18,000 while the total Management Fee attainable decreases by $54,000. The City and CourseCo propose modifying the maximum incentive fee based on CourseCo's performance, golf course trends, increased banquet revenue, continued compliance with the National Audubon Society requirements, enhanced maintenance practices resulting in improved playing conditions, and partnering with the City through COVID-19 to continue providing golf services, while meeting health and safety requirements. On July 1, 2021 and on each July 1st thereafter the amounts indicated above under the proposed Contract, for the ensuing year, shall be increased in the same proportion as changes in the Consumer Price Index, All Urban Consumers, San Francisco-Oakland-San Jose area; base years 1982-1984 = 100 published by the U.S. Dept. of Labor, ("CPI") shall have occurred since July 1, 2020. This fiscal year, revenues have been impacted due to COVID-19. While golf rounds are exceeding budget and last year totals, banquet events and food and beverage revenue has been significantly impacted by County restrictions. The City and CourseCo will continue to monitor the County health order, revenues, and expenditures, and make necessary adjustments. Table 1 below provides golf rounds, revenue, and operating expense information from July 1, to October 31, 2020 compared to the same period in 2019. As described in Table 1, the year over year increase in golf rounds of 3,708 resulted in increased golf and merchandise revenues of $133,808, which was insufficient to off-set the loss in food and beverage revenues of $270,744. As a result, the operating surplus is $95,773 less in 2020 compared to the same period in 2019. ' The actual Management and Incentive Fees in year five of the current contract ending June 30, 2020 is $116,222. Page 4 of 5