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

[GoofGoof]

it list them as they have a ground lease and are reponsible for taxes, but the property is owned by Palm Hospitality

It appears that Palm Hospitality is a subsidiary of TWDC. Per a web search I found this:

So Disney still owns the land through a subsidiary but I guess with a long term land lease it must be structured where DOD is the taxpayer so exempt from property taxes. One thing we have learned in this thread is Disney has some good lawyers

 

[JoeCamel]

It appears that Palm Hospitality is a subsidiary of TWDC. Per a web search I found this:

View attachment 712193

So Disney still owns the land through a subsidiary but I guess with a long term land lease it must be structured where DOD is the taxpayer so exempt from property taxes. One thing we have learned in this thread is Disney has some good lawyers

When you buy DVC you get a title and "Vista Title Insurance" shows up on the closing sheet? Nice to get a cut from everywhere, Buffet does that with his mobile home business.

 

[tissandtully]

When you buy DVC you get a title and "Vista Title Insurance" shows up on the closing sheet? Nice to get a cut from everywhere, Buffet does that with his mobile home business.

pretty sure DVC involves like three entities, they got it managed very well

 

[JoeCamel]

pretty sure DVC involves like three entities, they got it managed very well

nice word for milked

 

[flynnibus]

No, it's a way of being able to build big projects efficiently while not impacting the taxpayers. Calling it a "sweetheart deal" is incorrect. It's a symbiotic deal aimed at economic growth while putting that burden on the company, not the taxpayers, with the incentive that it allows for greater efficiency.

It was an arrangement the company sought to be able to control their destiny - the benefit to the state was getting this business with minimimal investment or burden to the state or others. Disney took on burdens in exchange for the greater prize... autonomy. The state gave it to them for the greater prize of... tourism. Quid pro pro.

Some of it maybe, but not all There's no provision for a private fire department, for example. Reedy Creek's investments and services cover more than just roads. Reedy Creek also pays for police it needs, emergency medical services, etc, which would be funded by the taxpayers otherwise.

Again topics that Disney could have funded directly. But instead, Disney offered to shoulder all that, in exchange for something else. Quid pro pro

Yes, but at taxpayer expense as opposed to Disney expense.

Still a possibility - because RCID was not the ONLY way this could have happened. Proffers could have been for Disney to build and maintain and then turn over to the local gov after an extended period. But instead, Disney offered to shoulder all that, in exchange for something else. Quid pro pro

That's not an accurate term to describe how Reedy Creek has operated.

It's perfectly acceptable to describe how it came to be... Disney's commitment to Florida hinged on them securing a solution to their forward looking concerns. Without the state's buyin to DISNEY'S proposed solution, they could have walked. The state didn't bring up the special district... Disney did. The state's lawsuit against RCID was clearly a coordinated move, again a favor strengthen the arrangement.

And I'm not trying to say RCID doesn't hold Disney to scrutiny in it's execution of it's roles... but when it comes to long term planning, they are again in lock-step. Deals like the parking garages are totally self-serving deals. What RCID did was above the board, but it was not without favor.

 

[lentesta]

I have a lot of work to catch up on. Let's hope nothing major happens in the next week or so here.

 

[flynnibus]

The combined stories of Disney are getting it much more press coverage... front page of CNN covers a wide range of Disney stories right now

 

[Lilofan]

The combined stories of Disney are getting it much more press coverage... front page of CNN covers a wide range of Disney stories right now

View attachment 712211

Could be an option but to put food and the table and keep health insurance, the laid off can apply for theme park roles at lower pay.

 

[wdwmagic]

DeSantis appointed board outlines its reasons for declaring Disney's last Development Agreement with Reedy Creek null and void​

DeSantis appointed board outlines its reasons for declaring Disney's last Development Agreement with Reedy Creek null and void

DeSantis appointed board outlines its reasons for declaring Disney's last Development Agreement with Reedy Creek null and void

www.wdwmagic.com

Here is the latest BOS package

https://www.rcid.org/wp-content/uploads/2023/04/CFTOD-4-26-23-BOS-Packet-FINAL-revised-4-24-23.pdf

 

[tissandtully]

The combined stories of Disney are getting it much more press coverage... front page of CNN covers a wide range of Disney stories right now

View attachment 712211

I feel like the parks are barely getting hit by these layoffs, wasn't that the plan?

 

[GoofGoof]

So I guess we will see the first court room action pretty soon in this conflict:

Approval of legislative findings regarding and declare the February 8, 2023 Development Agreement and Declaration of Restrictive Covenants entered into by the Reedy Creek Improvement District and Walt Disney Parks and Resorts U.S., Inc. void and unenforceable and direction to litigation counsel to commence litigation as needed to have such instruments declared void and unenforceable, prohibit the enforcement of the same, to have such instruments terminated or stricken from the public records of Orange and Osceola Counties and to assert these legislative findings and seek remedies regarding the same.

They are directing their outside counsel to start litigation to void the contract.

 

[GoofGoof]

I feel like the parks are barely getting hit by these layoffs, wasn't that the plan?

I didn’t think staffing was 100% back from Covid yet so still hiring.

 

[CaptainAmerica]

I feel like the parks are barely getting hit by these layoffs, wasn't that the plan?

These are cubicle layoffs, not costume layoffs.

So people who work in the Parks, Experiences, & Products segment will be impacted. But not people who work INSIDE the parks in guest-facing roles.

 

[kong1802]

So I guess we will see the first court room action pretty soon in this conflict:

Approval of legislative findings regarding and declare the February 8, 2023 Development Agreement and Declaration of Restrictive Covenants entered into by the Reedy Creek Improvement District and Walt Disney Parks and Resorts U.S., Inc. void and unenforceable and direction to litigation counsel to commence litigation as needed to have such instruments declared void and unenforceable, prohibit the enforcement of the same, to have such instruments terminated or stricken from the public records of Orange and Osceola Counties and to assert these legislative findings and seek remedies regarding the same.

They are directing their outside counsel to start litigation to void the contract.

Disney's legal team:

 

[mkt]

But not people who work INSIDE the parks in guest-facing roles.

Nope. Based on chats with CM's, they're just getting termed for any violations of rules that were previously not as strictly enforced.

 

[CaptainAmerica]

Nope. Based on chats with CM's, they're just getting termed for any violations of rules that were previously not as strictly enforced.

Good.

That's not a layoff.

 

[mkt]

Good.

That's not a layoff.

Nope, but if they're cleaning house through other methods, it all adds to the savings.

 

[CaptainAmerica]

Nope, but if they're cleaning house through other methods, it all adds to the savings.

I haven't seen any indication that they want to cut back on headcount in frontline roles. My assumption is that if there are frontline full-timers getting termed for cause that they'll be backfilled. Now maybe they'll be backfilled with part-timers, seasonals, CPs, and the like, but I don't think their hours go away.

 

[mkt]

I haven't seen any indication that they want to cut back on headcount in frontline roles. My assumption is that if there are frontline full-timers getting termed for cause that they'll be backfilled. Now maybe they'll be backfilled with part-timers, seasonals, CPs, and the like, but I don't think their hours go away.

Oh, absolutely. Or replace high seniority hourly frontline CMs earning higher wages with new hires that earn lower salaries.

In my experience, Disney's done this before, usually coinciding with other cost reductions.

 

[peter11435]

I haven't seen any indication that they want to cut back on headcount in frontline roles. My assumption is that if there are frontline full-timers getting termed for cause that they'll be backfilled. Now maybe they'll be backfilled with part-timers, seasonals, CPs, and the like, but I don't think their hours go away.

This is correct.