While the Florida government has voted to repeal the special status of Disney’s Reedy Creek Improvement District, which allows the company to self-govern in that specific area, Disney is beginning to push back before it takes effect on JUN 2023. In a letter to investors, Reedy Creek says it will continue its current operations while also exploring its options as a result of the ruling.
Anonymous sources familiar with the negotiations told the Washington Post that Disney’s lobbyists and lawyers have been working “behind the scenes” to find a solution that would allow Florida Gov. Ron Desantis “to save face” over the initial ruling while also allowing the company to continue its operations in the state. The Washington Post suggests Reedy Creek may transfer its governing powers and financial obligations to two cities nearby which are functionally run by Disney, as it would be more difficult for Florida legislature to eliminate the special tax status from cities than from Reedy Creek.CLICK HERE FOR FULL STORY