Florida - Friday March 29, 2024: Central Florida Tourism Oversight District Board of Supervisors announced they have reached a settlement with The Walt Disney Company in their state lawsuit regarding the company’s development agreements with the former Reedy Creek Improvement District.
We are pleased to put an end to all litigation pending in state court in Florida between Disney and the Central Florida Tourism Oversight District," said Walt Disney World President Jeff Vahle. "This agreement opens a new chapter of constructive engagement with the new leadership of the district and serves the interests of all parties by enabling significant continued investment and the creation of thousands of direct and indirect jobs and economic opportunity in the State."
The Board voted on and approved the settlement during a meeting on Wednesday, March 27. Stipulations of the settlement include that Disney agrees the development agreements and restrictive covenants are null and void.
Disney also agrees not to contest the District’s assessment that the 2032 comprehensive plan is null and void. The District will consult with Disney on a new comprehensive plan.
Both the District and Disney will dismiss all claims and counterclaims, including Disney’s countersuit against the District regarding public records. However, Disney’s federal lawsuit against the District and Governor DeSantis was dismissed earlier this year but Disney filed for appeal.
The labor services agreement between the District and Reedy Creek Energy Services will end in 2028. Disney owns the long-term mitigation credits and the District will not impede on those credits.
The District and Disney also agree not to contest actions of the Reedy Creek Improvement District from before DeSantis took over and appointed the current Board.
Earlier this week Governor DeSantis appointed Craig Mateer to take over the empty seat on the Central Florida Tourism Oversight District board following Martin Garcia’s departure.