Florida Legislature votes to strip Disney self-government

[Right_in_Virginia]

Jack Posobiec
@JackPosobiec

No one is even talking about the fact that Disney Inc had its own functioning government within the confines of the United States

5:26 PM · Apr 21, 2022·Twitter Web App

[mystery-ak]

Disney Stock Continues Slide After Florida House Sends Bill Dissolving Special District to DeSantis’s Desk

David Ng21 Apr 202217
1:47

Shares of the Walt Disney Co. continued their downward slide Thursday after the Florida House voted to approve a bill that would strip Walt Disney World in Orlando of its self-governing district, paving the way for Gov. Ron DeSantis (R) to sign the bill into law.

Disney shares dropped more than 2 percent in Thursday trading and are down more than 6 percent so far this week. The stock has been on a downward spiral for the past year, dropping more than 30 percent in 12 months to make it the worst performing stock on the Dow Jones Industrial Average.

Florida’s House voted 70-38 on Thursday to pass  S.B. 4-C, the legislation that would eliminate the Reedy Creek Improvement District, the special governing jurisdiction for the Walt Disney World Resort that was established more than 50 years ago.

more
https://www.breitbart.com/entertainment/2022/04/21/disney-stock-continues-slide-after-florida-house-sends-bill-dissolving-special-district-to-desantiss-desk/

[mystery-ak]

Florida Dems disrupt session, scream out in tantrums as bills pass to strip Disney, approve new maps


https://www.bizpacreview.com/2022/04/22/florida-dems-disrupt-session-scream-out-in-tantrum-as-bills-pass-to-strip-disney-approve-new-district-maps-1228549/

[mountaineer]

Disney World’s Reedy Creek: What happens after the special district is abolished?
Posted on April 22, 2022

...  What happens next is unclear, but Orange County’s tax collector and other opponents of the bill say ending Reedy Creek could lead to higher taxes for Orange and Osceola residents.

The Legislature did not conduct an economic study on the ramifications of dissolving the district. Legislators spent only two days examining the bill, unveiled on Tuesday, providing little opportunity for public input.

Not even the bill’s sponsors — Sen. Jennifer Bradley, R-Fleming Island, and Rep. Randy Fine, R-Palm Bay — could provide the intricate details of how Reedy Creek would be dissolved, saying the matter will be hammered out in the next year.   ...

Disney’s private government has been likened to Florida’s 68th county or a “Vatican with mouse ears.” The unique government structure involves Reedy Creek and two cities that Disney controls — Bay Lake and Lake Buena Vista.

Those cities have a combined population of about 53 people, according to census data. The residents are trusted Disney employees, making the two cities company towns controlled by Disney, said Richard Foglesong, author of “Married to the Mouse,” a book about the creation of Disney World.

If Reedy Creek is dissolved, top-line items will include determining how its 40 square miles of land straddling both Orange and Osceola Counties would be governed, how its assets would be distributed and its debt paid, said Lee Constantine, a former state representative and senator and the incoming president of the Florida Association of Counties. ...

Orlando Sentinel via Nordot

[cato potatoe]

If a tax increase is involved, DeSantis had better table the bill until the matter can be studied.  I have my doubts about the Orange County tax collector.  This sounds like propaganda.

[Hoodat]

If a tax increase is involved, DeSantis had better table the bill until the matter can be studied.  I have my doubts about the Orange County tax collector.  This sounds like propaganda.

The Orange County tax collector is lying.  It will lead to higher taxes for Disney property in Orange County, but should lead to lower taxes for Orange County residents.

[Wingnut]

Orlando Sentinel via Nordot

The Orlando Sentinel is the propaganda wing of the FL dem party.  Never lets an opportunity go by to take a shot at DeSantis.  They darn near canonized Fake Whistle blower Rebekah Jones spouting her Covid data lies.

[cato potatoe]

The Orange County tax collector is lying.  It will lead to higher taxes for Disney property in Orange County, but should lead to lower taxes for Orange County residents.

Yeah I figured as much.  In his interview he sounded like a tired old queen ... typical slimy bureaucrat.  But this propaganda is everywhere.

[Cyber Liberty]

Yeah I figured as much.  In his interview he sounded like a tired old queen ... typical slimy bureaucrat.  But this propaganda is everywhere.

Imagine how much work this creates for the Tax Assessor!  He might just be opposing it because he's not looking forward to crash assessing thousands and thousands of parcels.  If he's a Rat he doesn't give a squirt about the money anyway.  It grows like saw-grass in the Glades.

[Bigun]

Abbott is a politician foremost.   And he follows people like DeSantis, not leads.

Abbott's LONG time chief of staff now works for the Tides Foundation if that tells you anything.

[Weird Tolkienish Figure]

Disney is bringing out my inner Marxist. Let's nationalize Disneyworld. Not like they provide a necessary service anyway.

[Texas Yellow Rose]

And there will be weeping and wailing and gnashing of teeth.

[IsailedawayfromFR]

Orlando Sentinel via Nordot

Uh, just ask Disney to raise ticket prices to cover the difference.

That's what libs ask citizens to do by paying more in taxes.

[Hoodat]

There is a heck of a lot of information here that is not being brought up.  If Disney is receiving services from Reedy Creek, then how much is it paying for those services?  Because that is money that they will soon be paying to Orange County.  Also, their millage rate is about half that of Orlando and Winter Park.   So Disney has been giving themselves a very good deal for a very long time.

https://www.rcid.org/folder/2022/

[Cyber Liberty]

It's done.  DeSantis just signed.

[Cyber Liberty]

There is a heck of a lot of information here that is not being brought up.  If Disney is receiving services from Reedy Creek, then how much is it paying for those services?  Because that is money that they will soon be paying to Orange County.  Also, their millage rate is about half that of Orlando and Winter Park.   So Disney has been giving themselves a very good deal for a very long time.

https://www.rcid.org/folder/2022/

I have possibly more interesting questions.  Universal Studios and Nickelodeon have theme parks in very close proximity.  Were they included in the Reedy Creek zone?

Does this mean they were effectively governed by their largest competitor, maybe even paying them taxes?  Is this anywhere close to being legal?

[Hoodat]

I have possibly more interesting questions.  Universal Studios and Nickelodeon have theme parks in very close proximity.  Were they included in the Reedy Creek zone?

No.

[Wingnut]

I have possibly more interesting questions.  Universal Studios and Nickelodeon have theme parks in very close proximity.  Were they included in the Reedy Creek zone?

No. this was set up for Disney only back 55 years ago when they bought up all those orange groves and swamps to build
"The happiest Place on earth"

[Kamaji]

I came across an interesting point online that I am going to run up the flagpole here:  some are taking the position that governing law prohibits the FL. legislature from rescinding a special district like this without the votes of at least a majority of the landowners whose property sits within the special district - the point of contention being that Disney (or the employees who are identified as the "landowners" for these purposes) would not consent to rescinding the Reedy Creek district, and therefore this statute will not accomplish its intended purposes.

Thoughts?

[Kamaji]

Also, there is, or so certain information on the internets claims, about $1 billion in debt of the Reedy Creek district that will now be assumed by the county into which the former district will be folded, thereby beggaring all of the county residents with substantial new debt.

Thoughts?

[Wingnut]

Also, there is, or so certain information on the internets claims, about $1 billion in debt of the Reedy Creek district that will now be assumed by the county into which the former district will be folded, thereby beggaring all of the county residents with substantial new debt.

Thoughts?

Unreliable sources. No One knows...yet.   But that never stopped questionable reporting before all the facts are in.

Also the 27000 acres are spread over 2 central FL Counties.

[Kamaji]

Unreliable sources. No One knows...yet.   But that never stopped questionable reporting before all the facts are in.

Also the 27000 acres are spread over 2 central FL Counties.

Ok.  But, is there such debt, and what are the risks that the county now taking over control will have to assume that debt?

[Kamaji]

According to the 2021 Annual Report for the Reedy Creek district - https://www.rcid.org/document/2021-rcid-annual-financial-report/ - the district had total liabilities relating to "governmental activities" of $897,711,050, which is pretty close to $1B, and total liabilities relating to "business-related activities" of $229,617,766.

It seems to me that those debts have to follow the assets, and end up on the county's balance sheet at the end of the day; certainly the government-related debts.

[Cyber Liberty]

No.

No. this was set up for Disney only back 55 years ago when they bought up all those orange groves and swamps to build
"The happiest Place on earth"

Thanks!!!

[Wingnut]

According to the 2021 Annual Report for the Reedy Creek district - https://www.rcid.org/document/2021-rcid-annual-financial-report/ - the district had total liabilities relating to "governmental activities" of $897,711,050, which is pretty close to $1B, and total liabilities relating to "business-related activities" of $229,617,766.

It seems to me that those debts have to follow the assets, and end up on the county's balance sheet at the end of the day; certainly the government-related debts.

Okay Karen.