Disney Springs construction begins

GoofGoof

GoofGoof

Premium Member
Lord_Vader said:
Looks like the same team that brought us Tutto Italia and Via Napoli as well as a host of restaurants in Downtown Disney in Anaheim. If so, that bodes well for quality!
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Agreed. I'm curious to see what this ends up being. Sounds significant in size. These guys have restaurants all over with lots of different types of food.
 
Gabe1

Gabe1

Ivory Tower Squabble EST 2011. WINDMILL SURVIVOR
Discussion moved from Disney Springs Boathouse thread to a general Springs thread.

Gabe1 said: ↑
Now that is very possible. Yay!!! I was speaking to Springs venue, not the parking garages as they are very separate projects. I've been looking at the DTD and Pleasure Island areas this week, didn't venture into the parking lot, value my life too much for that, it is a major mess out there. But a very good point! That portion of the project is not being funded by Disney, it is being funded with public funds, so I have no doubt whatsoever that that parking garages would have full construction crews since Disney isn't footing the bill for them. Good to hear there are some General Contractors out there that know what they are doing.

mm121 said:
does anyone have any actual information on this? i highly doubt this is true, unless they are meaning by the reedy creek district

if anything i'd think paying with public funds would make construction slower NOT faster
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I tend to vet stuff like this before I post it, sometimes I get tripped up but yes this is true and likely others will be able to help you trust the post. It has been reported officially by news sources for a long time already an is an easy google search. Last I heard Disney was to get over $80 million.

It is likely quicker for Disney to say thank you to a check from Reedy Creek vs having to go through all the corporate bureaucracy of getting that much money in one fiscal year from their own coffers.

Here is one article from the newspaper Orlando Sentinel that generally does not fabricate stories about Disney funding.

http://articles.orlandosentinel.com...dy-creek-improvement-district-downtown-disney
 
dstrawn9889

dstrawn9889

Well-Known Member
RCID is an improvement District created by Fl, AND THE SOLE LANDOWNER IN THE DISTRICT IS DISNEY.

The Reedy Creek Improvement District (RCID) is the immediate governing jurisdiction for the land of the Walt Disney World Resort. As of the late 1990s, it comprised an area of 38.6 sq mi (100 km2) within the outer limits of Orange and Osceola counties in Florida. The RCID includes the cities of Bay Lake and Lake Buena Vista, and unincorporated RCID land.

Therefore, the Disney Company petitioned the Florida State Legislature for the creation of the Reedy Creek Improvement District, which would have almost total autonomy within its borders. The planned EPCOT city was also emphasized in this lobbying effort. Chapter 67-764[1] of the Laws of Florida was eventually signed into law by Governor Claude R. Kirk, Jr. on May 12, 1967, creating the District. On the same day, Governor Kirk also signed the incorporation acts for two cities inside the District: Bay Lake (Chapter 67-1104) and Reedy Creek (Chapter 67-1965). (The City of Reedy Creek was renamed to the City of Lake Buena Vista around 1970.)

A five-member Board of Supervisors governs the District, elected by the landowners of the District. These members, senior employees of The Walt Disney Company, each own undeveloped five-acre (20,235 m²) lots of land within the District, the only land in the District not technically controlled by Disney or used for public road purposes. The only residents of the District, also Disney employees or their immediate family members, live in two small communities, one in each city. In the 2000 census, Bay Lake had 23 residents, all in the community on the north shore of Bay Lake, and Lake Buena Vista had 16 residents, all in the community about a mile north of Downtown Disney. These residents elect the officials of the cities, but since they don't actually own any land, they don't have any power in electing the District Board of Supervisors.
 
mm121

mm121

Well-Known Member
Gabe1 said:
I tend to vet stuff like this before I post it, sometimes I get tripped up but yes this is true and likely others will be able to help you trust the post. It has been reported officially by news sources for a long time already an is an easy google search. Last I heard Disney was to get over $80 million.

It is likely quicker for Disney to say thank you to a check from Reedy Creek vs having to go through all the corporate bureaucracy of getting that much money in one fiscal year from their own coffers.
Click to expand...

oh ok when you said public you made me think like public tax dollars and stuff.

the RCID is disneys own governement so its basically disney paying for it with money they paid to themselves

and your right the RCID doesn't affect the stock prices and things so they aren't so concerned with keeping balance sheets

and i know they have the ability to sell municipal bonds if needed to pay for projects with lower interest rates
 
Gabe1

Gabe1

Ivory Tower Squabble EST 2011. WINDMILL SURVIVOR
mm121 said:
oh ok when you said public you made me think like public tax dollars and stuff.

the RCID is disneys own governement so its basically disney paying for it with money they paid to themselves

and your right the RCID doesn't affect the stock prices and things so they aren't so concerned with keeping balance sheets

and i know they have the ability to sell municipal bonds if needed to pay for projects with lower interest rates
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No not really. Disney does not own a governmental body. No corporation can own a governmental body. Reedy Creek is a real governmental taxing body so no Disney is not paying themselves. Many have questioned Reedy's relationship Disney but it is a Municipality and thus it can sell municipal bonds.
 
danlb_2000

danlb_2000

Premium Member
mm121 said:
oh ok when you said public you made me think like public tax dollars and stuff.

the RCID is disneys own governement so its basically disney paying for it with money they paid to themselves

and your right the RCID doesn't affect the stock prices and things so they aren't so concerned with keeping balance sheets

and i know they have the ability to sell municipal bonds if needed to pay for projects with lower interest rates
Click to expand...

According to the article RCID will be paying for this through bonds.
 
Gabe1

Gabe1

Ivory Tower Squabble EST 2011. WINDMILL SURVIVOR
dstrawn9889 said:
RCID is an improvement District created by Fl, AND THE SOLE LANDOWNER IN THE DISTRICT IS DISNEY.

The Reedy Creek Improvement District (RCID) is the immediate governing jurisdiction for the land of the Walt Disney World Resort. As of the late 1990s, it comprised an area of 38.6 sq mi (100 km2) within the outer limits of Orange and Osceola counties in Florida. The RCID includes the cities of Bay Lake and Lake Buena Vista, and unincorporated RCID land.

Therefore, the Disney Company petitioned the Florida State Legislature for the creation of the Reedy Creek Improvement District, which would have almost total autonomy within its borders. The planned EPCOT city was also emphasized in this lobbying effort. Chapter 67-764[1] of the Laws of Florida was eventually signed into law by Governor Claude R. Kirk, Jr. on May 12, 1967, creating the District. On the same day, Governor Kirk also signed the incorporation acts for two cities inside the District: Bay Lake (Chapter 67-1104) and Reedy Creek (Chapter 67-1965). (The City of Reedy Creek was renamed to the City of Lake Buena Vista around 1970.)

A five-member Board of Supervisors governs the District, elected by the landowners of the District. These members, senior employees of The Walt Disney Company, each own undeveloped five-acre (20,235 m²) lots of land within the District, the only land in the District not technically controlled by Disney or used for public road purposes. The only residents of the District, also Disney employees or their immediate family members, live in two small communities, one in each city. In the 2000 census, Bay Lake had 23 residents, all in the community on the north shore of Bay Lake, and Lake Buena Vista had 16 residents, all in the community about a mile north of Downtown Disney. These residents elect the officials of the cities, but since they don't actually own any land, they don't have any power in electing the District Board of Supervisors.
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ahhh, not according to Reedy Creeks website, it states the landowners are primarily Walt Disney World and that Walt Disney World accounts for 85 percent of the revenues collected. Walt Disney World and other District taxpayers also pay taxes to Orange County ($105 million in 2012) and Osceola County ($8 million in 2012).

The predicament was resolved in 1967 when the Florida State legislature, working with Walt Disney World Company, created a special taxing district – called the Reedy Creek Improvement District – that would act with the same authority and responsibility as a county government.

The new legislation said that landowners within the Reedy Creek Improvement District, primarily Walt Disney World, would be solely responsible for paying the cost of providing typical municipal services like power, water, roads, fire protection etc.

The District is governed by a five-member Board of Supervisors who hold office for staggered terms of four years. The unique issues brought before the Board of Supervisors each month are often complex and difficult. Board members represent a diverse cross-section of Central Florida and that diversity continues to serve the District well as decisions are made relating to infrastructure financing, growth management and numerous other aspects of the administration of the broad scope of District responsibilities.
 
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GoofGoof

GoofGoof

Premium Member
mm121 said:
oh ok when you said public you made me think like public tax dollars and stuff.

the RCID is disneys own governement so its basically disney paying for it with money they paid to themselves

and your right the RCID doesn't affect the stock prices and things so they aren't so concerned with keeping balance sheets

and i know they have the ability to sell municipal bonds if needed to pay for projects with lower interest rates
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I think the low rate bonds would be the primary advantage to Disney to fund the roadwork this way. Not sure if it's that much of an advantage these days with the really low interest rates and with Disney throwing off tons of cash flow. They don't seem to really need it.
 
P

Pumbaa1222

Active Member
Is it possible to have a timeline thread stuck o the top of this forum? With each part under construction having anticipated opening? Especially with DS, I'm trying to wrap my brain around how much will look different/be open/be under construction when I'm there next winter.
 
danlb_2000

danlb_2000

Premium Member
Pumbaa1222 said:
Is it possible to have a timeline thread stuck o the top of this forum? With each part under construction having anticipated opening? Especially with DS, I'm trying to wrap my brain around how much will look different/be open/be under construction when I'm there next winter.
Click to expand...

I don't think there is to much concrete information at this point on when pieces are going to be done.
 

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