Disney and the Florida governor had been in a several year long political battle but the 2 seem to have come to a compromise and Florida and Disney seem to be in agreement now.
Disney will be expanding its theme park business on the 24,000 acres of land it occupies, probably much to the delight of the next generation of kids.
Full article from the Associated Press is at the link, but the meat of the story is in the following paragraphs:
apnews.com
Disney will be expanding its theme park business on the 24,000 acres of land it occupies, probably much to the delight of the next generation of kids.
Full article from the Associated Press is at the link, but the meat of the story is in the following paragraphs:
Disney set to invest up to $17B in Florida parks now that fight with DeSantis appointees has ended
Months after Disney and Gov. Ron DeSantis’ appointees agreed to end their legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into its Florida resort.
apnews.com
Disney set to invest up to $17B in Florida parks now that fight with DeSantis appointees has ended
ORLANDO, Fla. (AP) — Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into its Florida resort and opens the door to a fifth major theme park at Walt Disney World.
The five DeSantis-appointed supervisors who oversee the Disney World district voted Wednesday to give initial approval to a new development agreement that both sides had agreed to negotiate after a March settlement ended their state court lawsuits against each other.
A second vote was required for final approval, and that was set for next week.
“We are heading towards a brand new day, and I’m excited about where this is going,” said Charbel Barakat, vice chair of the district’s board. “I only wish we could have gotten here sooner.”
Woody Rodriguez, director of external affairs for the Disney parks, told board members that the agreement will allow the company to make substantial investments in Disney World.
The agreement between Disney and the Central Florida Tourism and Oversight District would last for the next 15 years. The district provides municipal services such as firefighting, planning and mosquito control, among other things. It was controlled by Disney supporters for most of its five decades until it was taken over by the DeSantis appointees last year.
Under the deal’s terms, during the next decade or two, Disney would be approved to build a fifth major theme park at Disney World and two more minor parks, such as water parks. The company could raise the number of hotel rooms on its property from almost 40,000 rooms to more than 53,000 rooms and increase the amount of retail and restaurant space by more than 20%. Disney would retain control of building heights due to its need to maintain an immersive environment.
In exchange, Disney would be required to donate up to 100 acres (40 hectares) of Disney World’s 24,000 acres (9,700 hectares) for the construction of infrastructure projects controlled by the district. The company also would need to award at least half of its construction projects to companies based in Florida and spend at least $10 million on affordable housing for central Florida. . .