Disney and Central Florida Tourism Oversight District Propose 15-Year Development Agreement

Jun 04, 2024 in "Reedy Creek Improvement District"

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Team Disney Orlando

Posted: Tuesday June 4, 2024 7:30am ET by WDWMAGIC Staff

The Central Florida Tourism Oversight District (CFTOD) and Walt Disney Parks and Resorts U.S., Inc. (WDPR) have proposed a 15-year development agreement, which outlines significant investments and commitments aimed at enhancing public infrastructure and supporting economic growth in the Central Florida area.

On March 27, 2024, the CFTOD and WDPR entered into a settlement agreement. Both parties committed to negotiating a new development agreement with a term of 15 years that includes conditions and terms that both parties have negotiated. The agreement is currently under consideration and will be discussed at this week's CFTOD board meeting.

Disney and CFTOD reached a settlement agreement on March 27

Key Aspects of the Proposed Agreement

Substantial Capital Investment

Disney has pledged to invest up to $17 billion over the next 10 to 20 years, with an initial $8 billion allocated for the first decade. These funds will be used for infrastructure improvements, new construction projects, and technology enhancements. This significant capital investment is expected to benefit the Central Florida economy by creating new jobs and generating additional state and local revenues.

Local Economic Impact

Disney's "Buy Local" initiative will ensure that at least 50% of the project spending is directed toward Florida-based businesses. This is expected to create job opportunities and support local enterprises.

Public Infrastructure Contributions

Disney will donate up to 100 acres of land necessary for public infrastructure projects, including roadways, water systems, and sewer systems. Additionally, Disney will provide wetland mitigation and endangered species mitigation credits needed for these developments.

Public Services and Facilities

The CFTOD will be responsible for providing the public services and facilities needed to support Disney's investment. This includes updating the Comprehensive Plan by the third quarter of 2025 to accommodate new development projects. This update is essential to ensure the necessary infrastructure and public services are in place to support Disney's expansion.

Housing Initiatives

Disney has committed $10 million over ten years to support attainable housing projects. This funding will go toward construction costs for new housing or contributions to local affordable housing trust funds.

Infrastructure Projects

The agreement specifies several key infrastructure projects to be completed over the next five years:

World Drive North Phase 3: Construction of a four-lane divided roadway extending to Floridian Place, expected to be completed by 2026.
Western Way and Buena Vista Drive Widening: Expanding from four to six lanes, including intersection improvements, with a completion target of 2031.
Buena Vista Drive Intersection Improvements: Enhancements aimed at reducing congestion are expected to be completed by 2030.
Buena Vista Drive Dedicated Bus Lanes: The addition of bus lanes to improve transportation efficiency is targeted for completion by 2032.

Building Heights and Compliance

Building heights within the district will be controlled and approved by Disney, in accordance with the EPCOT Building Code and Federal Aviation Administration (FAA) standards. This measure is intended to preserve the thematic integrity of Disney's attractions.

Annual Reporting and Compliance

Disney will provide annual reports to the CFTOD to ensure compliance with the agreement's terms. After the first ten years, an independent auditor will verify the capital investment.

Public Hearing and Approval Process

A public hearing on the proposed agreement is scheduled for June 5, 2024, where the Board will consider the first reading of the Chapter 163 Developer's Agreement. If approved, a second and final public hearing is set for June 12, 2024, at 7:30 PM at 1900 Hotel Plaza Blvd., Lake Buena Vista, Florida 32830. This final hearing will be crucial for the formal approval of the development agreement.

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DCBaker10 hours ago

Here's the full packet: https://www.oversightdistrict.org/wp-content/uploads/2025/03/3-28-25-BOS-Agenda-packet.pdf Item 7.4 on the Sunshine Corridor PD&E Study:

Dr.GrantSeeker2 days ago

Oof, 2031 is a long ways away! Wonder how long it will actually take if and when they start it. Edit: thanks Len!

castlecake2.02 days ago

lentesta2 days ago

AFAIK the road budget is still in place. IIRC it was a tie-in of Western Way to the east side of property. ETA: Yep. Look at Exhibit D in this doc from the CFTOD boaerd meeting on 2024-06-05.

LAKid532 days ago

What more can be done?

Dr.GrantSeeker2 days ago

I remember RCID approving a bunch of infrastructure work for Western Way and the BV Drive intersection right before they became CFTOD. Do we still know if these improvements are going to happen and when? @lentesta I’m tagging you because i vaguely remember you talking about this a year ago-ish, which is how I learned about it in the first place. Unless my memory is totally wrong (which it could be) so I apologize in advance if you never mentioned these improvements!

LAKid532 days ago

Have you met OC Planning? Their middle name is urban sprawl....

LAKid532 days ago

It is. I laugh everytime I'm GPSed through property on the way back from MCO. And I think the same on the way home from Port Canaveral. I'd rather make a larger loop around than drive Osceola Parkway to LBV Drive to Western Way to Hartzog.

lazyboy97o2 days ago

And instead of real solutions people just double down on the causes of traffic.

castlecake2.02 days ago

The blessing of size lead to urban sprawl on property, the very thing Walt’s EPCOT was trying to fix. One solution could be trying to implement public transit to get Cast living nearby to work, but Orlando’s transit is terrible, and the sprawl across property makes it hard to make an efficient system for moving people. Now with the sprawl surrounding the property, Disney roads are becoming the shortcuts. The isolated feel of entire resort is quickly disappearing.

LAKid532 days ago

State Road 535 (Avalon Road) North from the intersection at Hartzog is now wall to wall apartment complexes up to New Independence. I had to make a detour to get out of Waterleigh due to road resurfacing and the same is going south. The roads in Horizons West currently can't handle the traffic resulting from the increase in developments. Yeah, it's nice that 429 North of the toll before the Turnpike had been widened, but it's a hot mess in the AM & PM up to that spot. The amount of construction since I bought 2.5 years ago is insane. Don't know HOW they'll widen Western Way once you leave property because there's not much space to add another lane under the 429 overpass. Flamingo Crossings area is growing. And the roads can't handle the traffic.

LuvtheGoof2 days ago

Western Way was really bad around 5:30 yesterday. And then a few idiots on the turnpike going north decided to have a 4 car pile up, blocking both lanes in the construction area, and our normal 2 - 2 1/2 hour trip took almost 4 hours last night!

LAKid533 days ago

My GPS sends me THROUGH property on the way back from MCO. But South on 429 to get there.

LAKid533 days ago

Avalon is bad in the mornings & evenings. Now imagine adding a 1400 unit housing project on Hartzog just before the curve to the intersection with Avalon. Which was just widened up to Schofield.