peter11435
Well-Known Member
No it isn’t
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News Reedy Creek Improvement District and the Central Florida Tourism Oversight District
- Thread starter castlecake2.0
- Start date
Figgy1
Well-Known Member
No it's not and there a good portion of posts posted here Disney would have cleansed if it was run by them. Not only that but this site is UK based
peter11435
Well-Known Member
The site is not affiliated with Disney in any way. There are many posters here who are highly critical of Disney.
Disney had no control over any citizens. Don’t make comments about things you have no knowledge of.
Disney had no control over any citizens. Don’t make comments about things you have no knowledge of.
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Sirwalterraleigh
Premium Member
Thomas Paine was notoriously angry (Irish)…and drunk most of the time.I like your user name.
Not a big gap to jump here
As you joined just an hour ago, suggest you cruise through some of the other threads. There are pixie dusters and there are critics of the organization.
Also suggest you read the Terms & Rules you agreed to by joining this forum. They are also at the bottom of the page.
Also suggest you read the Terms & Rules you agreed to by joining this forum. They are also at the bottom of the page.
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Like maybe 40 at most?
Wil B 622
New Member
I completely disagree with your first point,
Upon dissolution, these service costs will be shifted to the counties. The company would still need to pay for receiving these services, but current state law requires that all areas of a county be taxed equally. Any new tax imposed to cover the new administration costs would apply countywide to everyone. The effect would be a tax break for Disney, as Orange and Osceola County residents subsidize the former district’s service tax costs.
Disney also pays roughly $58 million every year in taxes to service Reedy Creek’s bond debt. It is estimated that the RCID currently has around $1 billion in bond liabilities. Absent additional legislation, the bond debt would be transferred to the counties upon the district’s dissolution with no new revenue to offset this new cost.
Wil B 622
New Member
Upon dissolution, these service costs will be shifted to the counties. The company would still need to pay for receiving these services, but current state law requires that all areas of a county be taxed equally. Any new tax imposed to cover the new administration costs would apply countywide to everyone. The effect would be a tax break for Disney, as Orange and Osceola County residents subsidize the former district’s service tax costs.
Disney also pays roughly $58 million every year in taxes to service Reedy Creek’s bond debt. It is estimated that the RCID currently has around $1 billion in bond liabilities. Absent additional legislation, the bond debt would be transferred to the counties upon the district’s dissolution with no new revenue to offset this new cost.
Disney points to language in Section 56 of the Reedy Creek Charter where the state “pledge[d] to the holders of any bonds issued under [the] Act that it will not limit or alter the rights of the District to ... fulfill the terms of any agreement made with the holders of such bonds ... until all such bonds together with interest thereon, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.”
Moody’s Investors Service affirmed Reedy Creek’s bond ratings last week but revised its outlook from “stable” to “developing”.
Disney also pays roughly $58 million every year in taxes to service Reedy Creek’s bond debt. It is estimated that the RCID currently has around $1 billion in bond liabilities. Absent additional legislation, the bond debt would be transferred to the counties upon the district’s dissolution with no new revenue to offset this new cost.
Disney points to language in Section 56 of the Reedy Creek Charter where the state “pledge[d] to the holders of any bonds issued under [the] Act that it will not limit or alter the rights of the District to ... fulfill the terms of any agreement made with the holders of such bonds ... until all such bonds together with interest thereon, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged.”
Moody’s Investors Service affirmed Reedy Creek’s bond ratings last week but revised its outlook from “stable” to “developing”.
Disagree with your first statement. Florida law prohibits charging a higher rate to one property owner over others in the jurisdiction, unless a special district is created. What would happen under your scenario is that those services formerly provided by RCID and paid for by Disney would have the costs spread amongst ALL property owners in Orange County if Orange County takes over waste, water, roads, emergency services. Which means Disney's taxes go down compared to my what by they currently pay to RCID and we property owners see ours go up.
Disstevefan1
Well-Known Member
Wow, Disney acquired Pixar, Lucasfilm, Marvel, Fox and now Wdwmagic forums! Who knew?
How would someone who just joined know the history of what gets deleted or not? Hmmmm...
Sirwalterraleigh
Premium Member
I don’t think they’re saying a “higher tax rate”…just that they’d pay more for services they lose/have to fill the gap for…
I’m sure somehow it’d be worse for Osceola…always works out that way too.
It’s a disaster. Try getting Disney in its current state to “pay more” to score political points…
…it will hurt every person in the region.
Let that scan
Tha Realest
Well-Known Member
Tha Realest
Well-Known Member
“Disney’s timetable” is not a winning data point in favor of keeping RCID.
Thomas Paine was notoriously angry (Irish)…and drunk most of the time.
Not a big gap to jump here
It's hard to jump when you're drunk. Wait. I take that back. It's harder to land.
mikejs78
Well-Known Member
They did actually.
mikejs78
Well-Known Member
I wasn't arguing that it was?
Disney Analyst
Well-Known Member
Was this discussed?