Posted on 04/27/2022 4:01:43 PM PDT by Coronal
Upward of a billion dollars worth?
They’ll have to raise their prices. $500 to Park, $1000 entry ticket. Cotton candy $50, $100 hotdogs $30 sodas. Water $20. Rooms $2000 per night per person. Taxes not included.
Actually the state of Florida will make Disney sell the huge amount of property that borders the theme park to pay off the bonds. The 40 square miles of land is well worth way over 2 billion dollars.
Liberals playing word games but the truth is they will have to give up the huge amount of undeveloped property.
Corporations with real property in said district shall pay a real property tax rate of ... based on appraised valuation of improvements.
Business property tax in said district shall pay a business property tax rate of ... based on appraised valuation of equipment.
Amusements tax rate in said district shall be....
Excise tax on memorabilia shall be applied with the sales tax at the rate of...
Hint: Florida will BILL THEM. Disney is obligated to pay off those debts. Expect a new law enforcing this if Disney wants to FAAFO.
It just keeps borrowing money so the debt is never repaid and they remain a standing bureaucracy forever.
The state has a 9.5 billion dollar contingency reserve in its current annual budget. It could cover the billion if necessary.
What Disney really needs is a political champion that is smarter than Ron DeSantis - someone like Joe Biden; or Jill; or Kamala; or Stacy Adams.
Sure, Disney can stretch this thing out in the coming months but they face the prospect of an angry host governor and a united Republican legislature. I'm just hoping Disney will throw Brother DeSantis into the brier patch.
“Nooooo! We must be allowed to traffic children in the maintenance tunnels and grooooom them!” -Disney
They are probably trying to buy time to keep shredding all the internally policed investigations and coverups of pedo activity.
Disney sucks.
Have you ever been to Disney World? It is the same size as San Francisco. That would be physically and logistically impossible. The Reedy Creek district essentially functions as it’s own county. There will be legal posturing going on about this, probably for years.
CC
Courts will side with Disney on this one. If there is no Reedy Creek then all responsibility falls to the counties. Everything Reedy Creek paid for - water, sewage, roads, electrical, police, fire, etc. - will now be primarily the responsibility of Orange County. Debt will almost certainly be included in that.
Oh, pleeeeease don’t throw DeSantis into that briar patch! 🐰
Disney has it’s own building codes. And they’re so stringent, they’re used as a model for many other municipalities in Florida. The same is true of it’s fire and EMS services.
CC
Exactly. Issue bonds to pay off old bonds. Non issue
The debt wasn't Disney's. The debt was issued by Reedy Creek Improvement District. That is being eliminated by the state. If the county has to assume responsibility for all the infrastructure that Reedy Creek maintained they they'll likely be stuck with the debt too.
Careful, Disney. Florida could all you on default of your non-payments, foreclose, and start operating the park themselves.
Thereby pushing the debt onto future Floridians.
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