Taxpayers in Florida could potentially pay for the burden of maintenance costs related to the dissolution of Disney's Reedy Creek Improvement District, a new report has found.
Reedy Creek Improvement District is expected to be decommissioned by June 2023, leaving many residents wondering what this means for them and prompting some to take legal action.
Apart from this worry, maintenance costs -- potentially exceeding $1 billion in debt and costs -- related to the dissolution of Reedy Creek could end up being paid by Florida taxpayers.
Experts speculate that tax burdens in Orange and Osceola counties may fall on residents in Orange and Osceola counties, an Orlando Business Journal article has alleged.
But a spokesperson for Florida Governor Ron DeSantis' office, Bryan Griffin, said debts for Reedy Creek would not be borne by local residents, and they will contribute more in the future.
All of this stems from a war that has been brewing for a while between the multinational conglomerate and the Governor continued to ensue due to the State Bill that the Governor's administration signed.
After depriving Disney of its special governing powers, Governor DeSantis said the state should take over the administration body that has overseen the entertainment company's Orlando-area theme parks for the past 50 years.
Moving forward, DeSantis has confirmed that he is working on new legislation for the district, but no further details have been released.
There still aren’t specific plans for the dissolution according to the bill, but the known date of its effectiveness will come to pass by June 1st, 2023.