News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[LAKid53]

As far as the debt goes, that was used to pay for past projects done by RCID so not only would local taxpayers have to pay for future public services within the current RCID boundary, they would be covering debt payments to pay back bonds used on those past projects.


They're not really services for Disney. They're public services provided within RCID. It just so happens that most of those are related to Disney as the largest land owner.

When someone drives down Buena Vista Dr, Osceola Pkwy, World Dr, they're not Disney. When water run off doesn't wash out those roads so someone can drive down them, they're not Disney. When someone's car catches fire and the fire fighters put it out, they're not Disney. When someone calls an ambulance, they're not Disney. They're someone in the public using a public service.


It's unfortunate that we need to spell that all out. But, there's clearly people that don't understand that. When we say to Disney, it feeds into their incorrect perspective.

And given that local bond issues must be handled through the state Division of Bond Finance, adding to the current debt load may not be feasible. Or the interest rate charged, especially if this nonsense causes the rating services to lower Florida's bond ratings, will be higher.

I bet if Ash Williams was still Executive Director of the SBA, he'd have told DeSantis how reckless this legislation is, not just for RCID and the affected counties, but the state as a whole.

 

[LAKid53]

As far as the debt goes, that was used to pay for past projects done by RCID so not only would local taxpayers have to pay for future public services within the current RCID boundary, they would be covering debt payments to pay back bonds used on those past projects.


They're not really services for Disney. They're public services provided within RCID. It just so happens that most of those are related to Disney as the largest land owner.

When someone drives down Buena Vista Dr, Osceola Pkwy, World Dr, they're not Disney. When water run off doesn't wash out those roads so someone can drive down them, they're not Disney. When someone's car catches fire and the fire fighters put it out, they're not Disney. When someone calls an ambulance, they're not Disney. They're someone in the public using a public service.


It's unfortunate that we need to spell that all out. But, there's clearly people that don't understand that. When we say to Disney, it feeds into their incorrect perspective.

And those roads aren't Disney property.

 

[LAKid53]

And it’s important to point out that this reaches outside of the district sometimes as well. If someone calls 911 from the Buena Vista Place Apartments or gets into an accident on reams Road or certain sections of I4, Reedy Creek emergency services will respond as the closest first responder. They aren’t Disney and they aren’t even Disney’s guests but they will benefit from these public services.

Nice to know if I get that townhouse on Reams.

 

[LAKid53]

So, you're saying RCID is a lower risk bond issuer than either Orange or Osceola county?

Wow, that's harsh. I can practically see them being called deadbeat counties.

Owning land in better run areas is worth more, news at 11.

RCID's bonds are rated from A to AA-.

Orange County bonds are rated from AA+ to AAA. The bonds with the AA+ rating are 50% shared state revenue.

The size and type of the bond issue affects the rating.

 

[LAKid53]

What makes you think it didn’t? Nasa and the US DOT have the same boss

A1A isn't a federal highway

 

[LAKid53]

Ha, I guess you missed my last 50 posts about this. This was totally caused by DeSantis.

That said, TWDC's punishment will be to dump the bond debt on to the taxpayers.

As for RCID, I never spoke against them.

All I said is that RCID is controlled TWDC (much like an employer, employee relationship).

To me, RCID, along with the Florida taxpayers are the victims here..

TWDC doesn't control those bonds. It will be the Board of Supervisors of RCID that will enact any punishment if the responsibility for retiring those bonds is assumed by the county taxpayers.

 

[UNCgolf]

Which will require some sort of legislation to do so. And most likely approval of the electors of the District.

Hence why I called it a ploy.

 

[Sirwalterraleigh]

A1A isn't a federal highway

Where does the majority of road construction funds come from? No matter if they’re state or not…

Or at least back when we built roads

 

[Disstevefan1]

TWDC doesn't control those bonds. It will be the Board of Supervisors of RCID that will enact any punishment if the responsibility for retiring those bonds is assumed by the county taxpayers.

not gonna say it but you know what I was going to say .....

 

[LAKid53]

Where does the majority of road construction funds come from? No matter if they’re state or not…

Or at least back when we built roads

Bonds. And the feds.

 

[LAKid53]

So where did the higher number (1.2B?) come from they were throwing around before?

That's the bond principle. You also have to consider the interest paid to the bond holders.

 

[LAKid53]

That seems to be the biggest rub to me. How can it be legal to arbitrarily setup a special tax district and levy additional taxes on the landowners in the district without giving them any say in how the district is run? The taxpayers have to have a say.

They do. By statute.

 

[Sirwalterraleigh]

Bonds. And the feds.

Bingo..:even if you work in a “business killing tax” rich state…as I do and was working on a DOT just today

(And the taxes aren’t really that high)

 

[LAKid53]

not gonna say it but you know what I was going to say .....

The Board of Supervisors are elected by the electors - property owners - in the District.

 

[LAKid53]

Bingo..:even if you work in a “business killing tax” rich state…as I do and was working on a DOT just today

(And the taxes aren’t really that high)

It depends on the road, at least in this state. Major state roads will be a combination of federal $ and state issued bonds. Local roads, like Buena Vista, Osceola Parkway, will be funded by municipal or county bonds.

 

[JoeCamel]

That's the bond principle. You also have to consider the interest paid to the bond holders.

Ahh, debt vs obligation

 

[LAKid53]

Ahh, debt vs obligation

Well, a bond holder would see both the repayment of principle and the coupon rate as an obligation on the part of the issuer.

 

[Disstevefan1]

The Board of Supervisors are elected by the electors - property owners - in the District.

Property owners in RCID are all hand picked by Disney.

 

[Sirwalterraleigh]

It depends on the road, at least in this state. Major state roads will be a combination of federal $ and state issued bonds. Local roads, like Buena Vista, Osceola Parkway, will be funded by municipal or county bonds.

You mean bonds from the reedy creek improvement district?

 

[LAKid53]

Property owners in RCID are all hand picked by Disney.

Property owners in RCID own property in Reedy Creek