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Apparently the RCID has $2 billion in bonds, which would result in ~$2,200 levy on the residents of Osceola and Orange counties. Further, the RCID district oper
by colburnmh 4y ago
Apparently the RCID has $2 billion in bonds, which would result in ~$2,200 levy on the residents of Osceola and Orange counties. Further, the RCID district operates at a loss, but that is offset by Disney's profit from the park. Now those losses will become the taxpayer's problem, and Disney will get to pocket the profit. It's also not clear whether the counties are actually able to operate Disney's power, water, EMS, and other services without significant training and additional expenses, given that infrastructure may not conform to what the counties currently operate, or may not conform to their regulatory requirements.
It's important to understand that the Reedy Creek Improvement District (RCID) was established, in part, to ease the logistical and bureaucratic issues that Disney would have to deal with working with two different counties. If the RCID is dissolved, most everything that has infrastructure, legal, or regulatory requirements would have to be handled by both counties, in order to allow the park to have a set of consistent rules and services. (Imagine that Disney could serve alcohol in one half of the park, but not the other, because a liquor license was granted by one county, but not the other. Admittedly, if that were the case, then Disney wouldn't serve alcohol at all, but it illustrates the point.)
- beerandt 4y agoThe district has tax revenue that (to oversimplify) will now be replaced with the regular county taxes, which makes it more or less revenue neutral. You say "handled by the county" as if it's a burden, but that's literally the purpose of government. The real burden is now on Disney, who has to demonstrate to the governing body that any given desired improvement is worthwhile to be approved. Part of that is usually the "developer" contributing to the project cost. Everyone is focusing on the money, but this is really about the ability to bypass government control. Which is why Disney was so insistent on bearing these costs in the first place.