DeSantis appointees bury the hatchet with Disney by approving new development deal

FILE - The Cinderella Castle is seen at the Magic Kingdom at Walt Disney World, July 14, 2023, in Lake Buena Vista, Fla. Months after Disney and Florida Gov. Ron DeSantis' appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement Wednesday, June 5, 2024, that could result in the company investing $17 billion into its Florida resort and opens the door to a fifth major theme park at Walt Disney World. (AP Photo/John Raoux, File) · Associated Press Finance · ASSOCIATED PRESS

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ORLANDO, Fla. (AP) — Gov. Ron DeSantis' appointees on Wednesday gave final approval to an agreement that buries the hatchet between Disney and the governing district for Walt Disney World, which the Florida governor took over after the company two years ago publicly opposed a state law critics dubbed “Don't Say Gay.”

The five DeSantis-appointed board members to the Central Florida Tourism Oversight District unanimously voted to approve a 15-year development deal in which the district committed to making infrastructure improvements in exchange for Disney investing up to $17 billion into Disney World over the next two decades.

The agreement followed a detente in March in which both sides agreed to stop litigating each other in state court and work towards negotiating a new development agreement and a new comprehensive plan no later than next year. The district provides municipal services such as firefighting, planning and mosquito control, among other things, and was controlled by Disney supporters before the takeover by the DeSantis appointees.

District board member Brian Aungst said at Wednesday night's board meeting that the agreement provides a lasting and stable framework for Disney and the board to work together.

“This is the day we all have been looking forward to,” Aungst said. “I was always extremely optimistic and knew we would get here because it was the right outcome.”

Under the deal, Disney will be required to donate up to 100 acres (40 hectares) of Disney World’s 24,000 acres (9,700 hectares) for the construction of infrastructure projects controlled by the district. The company also will need to award at least half of its construction projects to companies based in Florida and spend at least $10 million on affordable housing for central Florida.

Disney would then be approved to build a fifth major theme park at Disney World and two more minor parks, such as water parks, if it desired. The company could raise the number of hotel rooms on its property from almost 40,000 rooms to more than 53,000 rooms and increase the amount of retail and restaurant space by more than 20%. Disney will retain control of building heights due to its need to maintain an immersive environment.

Leaders of Orlando's tourism industry praised the agreement, telling the district's board members that it will bring boundless jobs, tourists and attention to central Florida.

“It very clearly demonstrates to the world that the district and Disney are eager to resume working together for the great state of Florida,” said Robert Earl, founder and CEO of Planet Hollywood International, Inc.