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BACKGROUND Tri -Valley Repertory Theatre (TVRT) is a non-profit 501(c)3 corporation—a volunteer organization dedicated to providing affordable quality theatre, theatrical training, a showcase for talent, and a cultural experience within the Tri -Valley and East Bay communities. TVRT is currently in its 38th year of providing professional quality musical theater. In March 2018, following a Request for Proposals process, a Services Agreement (Attachment 1) was entered into between the City of Pleasanton and TVRT to produce two professional musicals in the Firehouse Arts Center in FY 2018/19—one in the fall and one in the spring. Each production contained eight shows with evening and matinee performances. Adult, child and senior ticket prices were offered for each show. TVRT's first Pleasanton production of Guys and Dolls closed on November 18, 2018, and 96 percent of the available tickets were sold, generating $58,044 in ticket sales. In April 2022, the Second Amendment to the Services Agreement was approved by City Council. TVRT returned to the Firehouse Theater for its first show since the 2018/19 season, resuming production of Damn Yankees, a show that was paused due to the COVID-19 pandemic. The spring show opened on April 30, 2022, selling 51 percent of available tickets, generating $42,814 in ticket sales. The show recovered 42 percent of costs when utilizing the Cost Recovery Model outlined in the Council -approved Library and Recreation Fee Policy, which considers contract fees, department overhead, and benefited staffing costs. While the spring season ticket sales were modest compared to prior years, the show launched at a time when attendees remained hesitant about attending in-person events. DISCUSSION The proposed Third Amendment to the Services Agreement with TVRT extends the contract through June 30, 2023, with terms that reflect one professional production (Attachment 2). The contract will not exceed $65,000. If the amendment is approved, TVRT's Spring 2023 show will be a musical production. TVRT is currently in licensing negotiations for the works of Min Kahng, whose titles include Where the Mountain Meets the Moon, The Four Immigrants: An American Musical Manga, GOLD: The Midas Musical, The Song of the Nightingale, and Tales of Olympus. Kahng's works have been recognized as inclusive theater productions throughout the Bay Area. If licensing is not available, then TVRT will explore an alternative musical title. With the new show selection, expanded audiences and upgraded ticket fee levels, staff anticipates that attendance will increase in 2023 to near pre -pandemic levels, with projected ticket sales of $81,240 and selling 81 percent of available tickets. This would increase the show's cost recovery for related costs from 42 to 67 percent. With this, the program follows a phased plan to reach a 76-100 percent range of cost recovery for theater shows in the "Considerable Individual Benefit" category, as outlined in the Resolution Amending the Fee Policy and Master Fee Schedule for Library and Recreation Services/Programming. Page 2 of 3