Florida Governor Ron DeSantis has finally put Disney on the hook by seizing control of Disney’s self-governing district and notifying the firm that it must pay $700 million in debt and taxes. The governor took charge of Reedy Creek’s board on Monday, it was stated. The governor has a long and tumultuous relationship with the firm.

“Florida is dissolving the Corporate Kingdom and beginning a new era of accountability and transparency,” the deputy press secretary for DeSantis told the Daily Mail.

According to The Daily Mail: “DeSantis will also rename the site, switching its name from Reedy Creek to the Central Florida Tourism Oversight District. A new bill was proposed by Florida politicians on Monday, which would give the governor full control over the district, and the ability to appoint the five-member board of supervisors that runs the special district. The nominees would then need to be confirmed by Florida state senators. The proposed legislation would keep in place Reedy Creek’s obligation to almost $1 billion of outstanding bonds.”

Disney effectively runs the district as if it were its own government, with a five-member board elected by area residents.

It is recommended that if the new regulations are enacted, everyone who has ever been linked with Disney be barred from serving on the board.

“These actions ensure a state-controlled district accountable to the people instead of a corporate-controlled kingdom,” said Jeremy Redfern, deputy press secretary for the governor.

If the proposed regulations are accepted, it will permanently lose the power to govern itself.

Walt Disney World President Jeff Vahle indicated in a news statement that the corporation is watching the legislation’s development.

“Disney works under a number of different models and jurisdictions around the world, and regardless of the outcome, we remain committed to providing the highest quality experience for the millions of guests who visit each year,” Vahle said.

“Established in 1967, the special taxing district gave Disney control of services such as fire protection and utilities for the land around its Florida parks and resorts. That special status came under scrutiny amid a public feud between Disney and Gov. Ron DeSantis after the company, under then-CEO Bob Chapek, opposed the state’s Parental Rights in Education measure, which critics called the “Don’t Say Gay” law,” According to Spectrum News 13.

Board members would be subject to term limitations, and the governor would be in charge of selecting them.

Furthermore, in order to save taxpayers from being liable, Disney would be accountable for $700 million in debt.

“In May, while speaking at Seminole State College in Sanford, DeSantis reiterated his promise that Florida’s taxpayers will not take on Walt Disney World’s debt when and if the Reedy Creek Improvement District (RCID) dissolves in 2023,” Conservative Brief reported.

More on this story via The Republic Brief:

“I can tell you this, that debt will not end up going to any of these local governments. It’s not going to go to the state government, either. It’s going to absolutely be dealt with by (Disney and other businesses) that are currently in that district,” DeSantis declared. CONTINUE READING…