The Florida Senate passed a bill Wednesday to dissolve the Reedy Creek Improvement District as Republicans seek to punish Disney for opposing HB 1557, known by critics as the “Don’t Say Gay” law—potentially eliminating the special district that Walt Disney World uses to operate as its own municipality, and setting up a court battle over the Florida theme parks’ future.
Welcome to 1984. Corporations are people according to the GOP when it comes to funds and donations, but speak against the GOP, and they take revenge.
I wonder how many businesses will have to rethink their GOP backing before it is too late.
Good luck Florida.
https://news.yahoo.com/dissolving-disne ... 25580.html
For tax payers, the extra funding would be a boon as it would be distributed throughout the county. However, local governments would also absorb all of the district’s liabilities, including the enormous amount of debt on its books.
Reedy Creek historically operates at a loss of approximately $5 to $10 million per year, per its financial reports. The current arrangement renders that meaningless since Disney is able to subsidize its own operations with theme park revenue.
According to lawmakers, though, there is as much as $1 billion in debt on the balance sheets that for which taxpayers would become responsible, possibly amounting to as much as thousands of dollars per household.