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IPFS News Link • Florida

Disney Reaches Settlement With DeSantis, District Board

•, by T.J.Muscaro

On March 27, the CFTOD Board of Supervisors voted in favor of a settlement offered by the company, which agreed to drop two active lawsuits against CFTOD after it replaced the former Disney-appointed Reedy Creek Improvement District Board more than a year ago.

Disney also agreed to concede that the eleventh-hour development agreement they made with the Reedy Creek Improvement District in a final attempt to retain its autonomy was null, void, and unenforceable.

In exchange, among other concessions, CFTOD would drop its counterclaims against Disney, the district would recognize Disney's ownership of permits issued by the South Florida Water Management District, the Army Corps of Engineers, and the Florida Game and Fresh Water Commission, and would not impede on them, and negotiate a development agreement.

"I'm very much pleased by this development," said Vice Chair Charbel Barakat. "You know, we, the Central Florida tourism oversight district was created to bring public accountability and transparency to one of Florida's most important destinations. We're proud of the landmark work the district has done and look forward to what lies ahead. I think with this settlement, which is complete and significant.

"We are eager to work with Disney. I'm certainly eager to work with Disney and all other businesses to make the country's tourism destination famous for a second reason, which is good government. I'd like to thank publicly thank the district's general counsel for their Herculean efforts on this front as well as our as well as our outside counsel."