Playhouse Granted Lease Option:The Laguna Moulton Playhouse can remain at its Broadway location until the year 2000, the City Council has decided. The playhouse's lease with the city is not scheduled to expire until 1989. But playhouse officials have plans for improvements and want to guarantee donors that the playhouse will remain for a while, said Rob Clark, recreation and social services director for the city. The Playhouse has an option to extend the lease an additional 10 years after the year 2000. Currently, the city receives $5,000 a year from the playhouse, Clark said. But after the new lease goes begins, in 1990, the payment will be increased according to the consumer price index, he said. "We need to keep the $5,000 up to speed as the cost of living goes up or inflation continues," Clark said.