Changed Photos file location - how do I update Photos directory in FCP?

I recently moved the storage location of all my Photos files from my internal HD to an external HD as I was running out of room. When I fired up FCP to edit some videos I noticed that the Photos list is now empty where before it showed all my videos/images. See here: http://screencast.com/t/ThHkIu0B

So, how do I update the directory of the Photos folder in FCP?

Hardware:

Mac Pro (Late 2013)

Processor: 3.5 GHz 6-Core Intel Xeon E5

Memory: 32 GB 1866 MHz DDR3 ECC

Graphics: AMD FirePro D500 3072 MB

Software:

OS X El Capitan 10.11.1

FCP 10.2.2 (I don't have any FCP plugins installed)

Here's what I've tried:

Clearing FCP preferences and restarting the computer