Bur I also think any contract should have a review process at certain points to ensure that the needs of the City are being met - other than just the monetary needs - with some quantifiable marks that need to be met to get an automatic renewal.
And, of course, the city would then have the option to also consider uncontrollable circumstances such as another 9/11 or the out break of some new flu.
I also think the convention center needs to look at as many revenue sources as possible to guarantee the bond payments can be met.. For example, since major conventions being booked years in advance - has the addition been designed to be used as a massive sound stage when it is not being used as a convention hall?
Now I do know that a lot of shooting is already being done there, but LA is now at a disadvantage by not having the massive sound stages other shooting location have built - and this might be an opportunity to both keep LA competitive in big budget films and to ensure that the bond payments will be made.
And due to the difference in time frames between the two uses, it could be a real opportunity. And this is just one possible idea. There might be many other ways the convention center - even when it is not housing major conventions - would be able to benefit the economic well being of Los Angeles.