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originally posted by: frogs453
a reply to: bigfatfurrytexan
Here is more info. The article breaks it down even more, none of it would be good for the state. Here are a few snippets.
Disney, however, noticed, and the Reedy Creek Improvement District quietly sent a note to its investors to show that it was confident the Legislature’s attempt to dissolve the special taxing district operating the 39-square mile parcel it owned in two counties violated the “pledge” the state made when it enacted the district in 1967, and therefore was not legal.
“They could try to argue that this pledge was invalid, that they could not contract it away,” Schumer said. “I don’t think that would work. But states usually aren’t in the business of arguing that their own promises are bad.”
The state could also pass a different law that acknowledges Disney’s right to the bonds and then take the assets using its eminent domain powers and pay off the bondholders using those assets, he said.
But that poses another problem for the state, Randolph said.
By giving Disney a year to resolve this, the company could shed its assets by giving its power plant and its water utility to Lake Buena Vista and Bay Lake. Without those assets, Disney reduces its tax bill when the state dissolves Reedy Creek, he said.
“Disney has more power now to determine its tax bill than it did a week ago,” he said. “That’s what’s crazy to me. They want to punish Disney, but this is the furthest thing from that. You literally put them in the driver’s seat of how much they want to pay.”
Tampa Bay Times
Whether they did this for theater, or just missed it in the agreement, I don't know. I also read somewhere else that when all said and done this wouldn't be cleared up and paid until 2029.
DeSantis has already stated he will stay governor and will not run in 2024. He will run in 2028 I am sure.
originally posted by: DBCowboy
a reply to: JAGStorm
An honest question;
Why is it the role of government to help poor people?
Why do we always run to government if we're in trouble?
Why can't people be held accountable for themselves?
What happened to personal responsibility?
originally posted by: JAGStorm
www.vanityfair.com...
...
and would be on the hook for Reedy Creek’s roughly $1 billion in outstanding bond debt.
originally posted by: tanstaafl
originally posted by: JAGStorm
www.vanityfair.com...
...
and would be on the hook for Reedy Creek’s roughly $1 billion in outstanding bond debt.
I don't see that at all. why would they be responsible for the debt of some private company?
originally posted by: choomsuba
Boycott all Disney properties!!
There’s other places to go in Florida, Busch Gardens, Universal etc ., Walt is probably rolling over in his grave right now.
“ Ask not what your country can do for you, ask what you can do for your country “
To put some perspective to the story let's learn about Orange County. It is very poor. Over 75% of students in Orange county qualify for free or reduced lunches. Those free lunch numbers are a good litmus test to the poorness of an area, and Orange country is poor.
We are hearing about Desantis, and we are hearing about Disney, but just like everything else, in the end the people that are going to be impacted are those poor people that live in Orange and Osceola county.