“It may be worth to write off the loss, just to reset to zero and move forward.”
Not sure they can. The original bond setup was also part of the EPCOT creation, Experimental Prototype Community of Tomorrow, and was supposed to be an actual city, with people living in it, and using the latest technology within the city like moving sidewalks. The bond did include Reedy Creek but the money being dished out was far more than for that area and was part of other projects and the contractual obligations state that the debt is not finished until it is paid back. And back in 1967 Florida wanted the tourism so bad they miswrote the agreement to put it almost completely in Disney control until they and their investors are satisfied.
wy69
It is possible that Dems push Desantis for POTUS to get him out of the spot. Yes, a GOP would take over for him but not sure she would be as formidable.
They may sacrifice 2024. Disney may be the behind the scenes impetus.
I know little about the details and the laws here. But I have a sinking feeling that Florida cannot undo the Reedy Creek Improvement District without Florida paying the 2 billion dollar debt. That DeSantis and the Florida legislature cannot force Disney to pay 2 billion by passing ex-post facto laws.
If, when Florida passes this law, Disney will contest. Reedy District will be in the courts for years. First the Florida courts, where Disney loses. Then into the Federal courts. Perhaps into the Supreme Court.