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

[monothingie]

This cannot be it, they’re just going to give up?

It's actually a no brainer. Who in their right mind would want a drawn out expensive and public legal fight whose outcome is far from certain.

Disney's approved public statements have shown a willingness to move beyond this because of the potential impact it could have on their operations. Additional resistance on their part could only invite further action on the part of the state.

 

[GoofGoof]

The state is likely still hoping their generally favorable tax/regulatory environment will counterbalance their unfavorable workforce/HR policy issues and public perception challenges that undoubtedly would persist for any companies looking to expand or relocate to the region.

Comparatively lower cost of living and a more warmer climate compared to other large metropolitan states will also continue to attract a large swath of migration and future customer base regardless.

Full disclosure: Not saying I agree with these arguments, just presenting a likely justification why they may feel like they had “enough goodwill to burn” to still be above water.

Unfortunately for FL there are about a dozen other states with nice climate, low taxes, low cost of living and less regulations that they are competing with. The other 11 states didn’t just pass a bill attempting to economically damage their largest employer and the top catalyst for their number 1 industry. This and the rest of the culture war stuff will certainly push other large corporations into going elsewhere. I believe someone posted a quote from the Governor a little back where he said he doesn‘t care and doesn’t want those jobs for the state.

 

[peter11435]

How much of a problem can the State be for WDW for existing projects? I'm thinking the various DVC resorts. Disney would be motivated to complete them, for the money and to avoid the eyesores they would be right now if construction ceased. Will this kill Reflections a 2nd time?

Reflections stayed dead the first time. No 2nd time to kill yet.

 

[LittleBuford]

Exactly. I think they are waiting to take legal action, if any, to ensure they have an airtight case.

It may be just saving their shot. Until the actual individuals are named to the board seats, we're not going to have a clear sense of will the board be actually partisan and upset projects demanding Disney change their diversity training, etc.. Maybe names have been shared that Disney feels like they can live with. The more contentious Disney responds now, the more likely those names get replaced with less friendly options.

But it does feel distressing that no one seems willing to fight for the principles we thought this country espoused.

Others who know the law better than I do can correct me if I'm wrong, but the statement sounds pretty accepting of the situation. There's nothing about the language that suggests a wait-and-see approach or the playing of some legal long game.

 

[lazyboy97o]

My only guess is that they don't want to give in and give him the press he wants.

This is giving in and setting an absolutely horrific precedent.

How much of a problem can the State be for WDW for existing projects? I'm thinking the various DVC resorts. Disney would be motivated to complete them, for the money and to avoid the eyesores they would be right now if construction ceased. Will this kill Reflections a 2nd time?

They can be a huge problem for existing projects.

It may be just saving their shot. Until the actual individuals are named to the board seats, we're not going to have a clear sense of will the board be actually partisan and upset projects demanding Disney change their diversity training, etc.. Maybe names have been shared that Disney feels like they can live with. The more contentious Disney responds now, the more likely those names get replaced with less friendly options.

But it does feel distressing that no one seems willing to fight for the principles we thought this country espoused.

The board isn’t permanent. It can change. Waiting for the board to do something egregious means accepting the precedent.

 

[castlecake2.0]

What about the residents of Lake Buena Vista and Bay Lake? Further, the residents of Celebration that live in a town surrounded and crisscrossed by RCID lands and infrastructure?

 

[lazyboy97o]

What about the residents of Lake Buena Vista and Bay Lake? Further, the residents of Celebration that live in a town surrounded and crisscrossed by RCID lands and infrastructure?

The residents could act, but their close association with Disney makes that doubtful.

Celebration residents would have no say.

The other landowners in the District could chose to act, but most have a relationship with Disney they’ll want to maintain. The federal government would probably be the only landowner who wouldn’t care about annoying Disney, but I doubt even they will act.

 

[GoofGoof]

How much of a problem can the State be for WDW for existing projects? I'm thinking the various DVC resorts. Disney would be motivated to complete them, for the money and to avoid the eyesores they would be right now if construction ceased. Will this kill Reflections a 2nd time?

The existing projects will likely be finished but based on the earnings call there won’t be a lot of money floating around for capex for new projects.

 

[monothingie]

What about the residents of Lake Buena Vista and Bay Lake? Further, the residents of Celebration that live in a town surrounded and crisscrossed by RCID lands and infrastructure?

Technically they live in unincorporated land. I would imagine they are currently subject to the provisions established in RCID pursuant to state statue on the creation and operation of unincorporated land. When the State assumes responsibility for the district, the burden will shift to the State.

 

[lazyboy97o]

Technically they live in unincorporated land. I would imagine they are currently subject to the provisions established in RCID pursuant to state statue on the creation and operation of unincorporated land. When the State assumes responsibility for the district, the burden will shift to the State.

Reedy Creek Improvement District is incorporated land, the cities of Bay Lake and Lake Buena Vista.

 

[monothingie]

Reedy Creek Improvement District is incorporated land, the cities of Bay Lake and Lake Buena Vista.

Negative.

Do a search of unincorporated land in Orange County. RCID is listed.

 

[MR.Dis]

Or it could be all the hand wringing is ill placed. That it will be business as usual and that instead of Disney employees rubber stamping it will be the new Gov appointed board rubber stamping everything. To assume that this new board is going to be out for blood--well I am not going to explain what it means to assume something. I have been pretty accurate so far in what I saw was going to happen, so my next opinion is that there will be no change to the way the District operates or the length of time it takes to get things approved.

 

[LittleBuford]

To assume that this new board is going to be out for blood--well I am not going to explain what it means to assume something.

These are assumptions based on what those behind this change have themselves said about Disney. Why shouldn't we take them at their word?

 

[lazyboy97o]

Negative.

Do a search of unincorporated land in Orange County. RCID is listed.

You think the cities don’t exist?

 

[Vegas Disney Fan]

The fact Disney isn’t going to fight this leads me to believe it’s all sorted out behind the scenes, DeSantis gets his win and Disney has assurances nothing fundamentally changes in how they run WDW.

 

[lewisc]

Or a potential lawsuit will be filed by the residents of Reedy Creek or by the bondholders and not directly by Disney.

 

[Dranth]

Why would anyone trust the people who did this in the first place? Legislative leaders have publicly expressed a willing to change state law so DeSantis doesn’t have to leave. They started this whole thing. There are no secret deals. They caved. That’s it.

I don't disagree which is why I think they are making a mistake or there is something we don't know about.

 

[lazyboy97o]

The fact Disney isn’t going to fight this leads me to believe it’s all sorted out behind the scenes, DeSantis gets his win and Disney has assurances nothing fundamentally changes in how they run WDW.

There are absolutely no mechanisms to ensure these assurance by the very people doing this and other things that completely contradict the assurances.

 

[mf1972]

on the surface, i’m surprised that disney is currently laying down & accepting this. like others, i’ll assume there’s more going on that we don’t know much about as of yet. for arguement sake, if this does go unchallenged, i’ll be more worried about future actions like this happening again.

 

[LittleBuford]

The fact Disney isn’t going to fight this leads me to believe it’s all sorted out behind the scenes, DeSantis gets his win and Disney has assurances nothing fundamentally changes in how they run WDW.

This appears to be the prevailing assumption (and it's a reasonable one), but I don't think a backroom deal is anything to be sanguine about. "Gentlemen's agreements" are no substitute for legally enshrined protections.