Orange County might have to pay off RCID debts?

[KYMickey]

Orange County might have to pay off RCID debts

Interesting article about 1 of the possible consequences of the legislation recently passed by the Florida legislature and signed by the governor.

 

[Dcgc28]

There’s been a few opinions on this but the threads usually get shut down. I imagine there will be an agreement reached where Disney is still self sufficient but has to ask the state if they can build things because then some how Desantis wins I guess.

 

[Disneychick75]

Orange County would have to pay unless a law or ordinance is passed. I have a feeling that an ordinance at the very least will happen. Both the governor and the mayor could benefit.

 

[OKW Lover]

Remember folks that there are two different counties affected. Most of WDW is in Orange County, but some of it (including Animal Kingdom & AKL) are in Osceola County.

 

[Robbie Cottam]

I read in one of the closed threads that Disney also signed on to those bonds and if they just walked away it would hurt Disney Bond rating. By the time I went back to get the info to do the research the thread was gone.

I would let this play out, My SWAG (Scientific Wild ### Guess) say this will all blow over. RCID will comeback, maybe with a new name, with slightly tighter rules, like no nuclear power plants and maybe some provision that Disney stay out of the public policy business and the state stays out of the family entertainment business.

It was clearly not grandstanding because the state did it, it is done. However, I personally think they also have a plan, they just need to make a point first.

Until then this isn't something that needs to be worried over and or dealt with.

 

[Dcgc28]

I read in one of the closed threads that Disney also signed on to those bonds and if they just walked away it would hurt Disney Bond rating. By the time I went back to get the info to do the research the thread was gone.

I would let this play out, My SWAG (Scientific Wild ### Guess) say this will all blow over. RCID will comeback, maybe with a new name, with slightly tighter rules, like no nuclear power plants and maybe some provision that Disney stay out of the public policy business and the state stays out of the family entertainment business.

It was clearly not grandstanding because the state did it, it is done. However, I personally think they also have a plan, they just need to make a point first.

Until then this isn't something that needs to be worried over and or dealt with.

Disney seems to think that RC can’t be dissolved unless Florida wants to pay off the bond debt. Which seems to be the opposite of what Desantis camp is saying.

I don’t necessarily think it’s grand standing either. It’s not the first time Florida has looked at dissolving RCID. But they never have for a reason, so it’ll be interesting to see where it goes from here. They had a meeting yesterday and didn’t even mention the fact that it happened.

 

[Robbie Cottam]

Disney seems to think that RC can’t be dissolved unless Florida wants to pay off the bond debt. Which seems to be the opposite of what Desantis camp is saying.

I don’t necessarily think it’s grand standing either. It’s not the first time Florida has looked at dissolving RCID. But they never have for a reason, so it’ll be interesting to see where it goes from here. They had a meeting yesterday and didn’t even mention the fact that it happened.

Who is they, Florida, Orange County, Disney all of the above?

It really doesn't matter, this isn't going to play out until the 11th hour too, so somewhere around Halloween 2023....

Gets some popcorn and a tasty beverage of your favor sit back, relax, and enjoy the show.

 

[Dcgc28]

Who is they, Florida, Orange County, Disney all of the above?

It really doesn't matter, this isn't going to play out until the 11th hour too, so somewhere around Halloween 2023....

Gets some popcorn and a tasty beverage of your favor sit back, relax, and enjoy the show.

They would be Florida politicians at some level or another. I don’t want to get it wrong, but when this first started happening I read that it was looked at in the 90s and early 2000s from Florida.

 

[jade1]

It really doesn't matter, this isn't going to play out until the 11th hour too, so somewhere around Halloween 2023....

Gets some popcorn and a tasty beverage of your favor sit back, relax, and enjoy the show.

Probably, but it seems like Disney now holds some cards regarding the debt and assets.

Couldn't they push debt even higher over the next year, and maybe sell off assets somehow?

I suppose nobody would invest in a new WDW bond though with this up in the air.

 

[Robbie Cottam]

Probably, but it seems like Disney now holds some cards regarding the debt and assets.

Couldn't they push debt even higher over the next year, and maybe sell off assets somehow?

I suppose nobody would invest in a new WDW bond though with this up in the air.

I don’t think Disney is any better or worst position, yet…
and ultimately I don’t think they will be …

Florida just reminded Disney life is a two way street…

 

[AurumPunzel]

Remember folks that there are two different counties affected. Most of WDW is in Orange County, but some of it (including Animal Kingdom & AKL) are in Osceola County.

Correct, but Orange County will be hurt the most if RCID does indeed get dissolved. But there's still obstacles that Tallahassee overlooked, particularly the law that requires district residents to hold a referendum or plebiscite on district dissolution. But even so, they would not be in favour, and any other Tallahassee effort is doomed to fail either way.

 

[lockets]

DFB released a good article today rounding up different news source reports and ideas about what happens w the debt

https://www.disneyfoodblog.com/2022...sney-worlds-reedy-creek-improvement-district/

 

[Robbie Cottam]

Correct, but Orange County will be hurt the most if RCID does indeed get dissolved. But there's still obstacles that Tallahassee overlooked, particularly the law that requires district residents to hold a referendum or plebiscite on district dissolution. But even so, they would not be in favour, and any other Tallahassee effort is doomed to fail either way.

Tallahassee didn't over look anything. If they want to change the law, well they are the law makers.
Laws change.

If RCID is going to get changed this was just the first of many steps that will effect every single aspect of the Law. That why they gave them selves 18 months to come up with the NEW LAW.

I wouldn't expect anything official to be said for 12 or 15 months then the rest of the package will come out.

In the end SOME parts of the RCID will be gone but for the most part someone wake up from a coma in 18 month would never know the difference.

 

[Dcgc28]

Tallahassee didn't over look anything. If they want to change the law, well they are the law makers.
Laws change.

If RCID is going to get changed this was just the first of many steps that will effect every single aspect of the Law. That why they gave them selves 18 months to come up with the NEW LAW.

I wouldn't expect anything official to be said for 12 or 15 months then the rest of the package will come out.

In the end SOME parts of the RCID will be gone but for the most part someone wake up from a coma in 18 month would never know the difference.

If they only eliminate certain parts of RCID wouldn’t that take Disney agreeing to other parts? Why would they take on certain parts but not others? Until the plan for their debt comes about it’s hard to say what will happen one way or another.

 

[OKW Lover]

Couldn't they push debt even higher over the next year, and maybe sell off assets somehow?

Yes they could but who would actually sell them a new bond offering right now?

 

[bbeagle]

It was clearly not grandstanding because the state did it, it is done. However, I personally think they also have a plan, they just need to make a point first.

it was CLEARLY grandstanding as they pushed back the law's effects until next year, after the election. The republicans don’t have a plan, just wanted a look to show that they’re 'tough'

 

[Disneychick75]

If Disney has to pay, it wouldn't kill them. The Disney company made 20 billion dollars in the 1st quarter of 2022.

 

[Douglas Dubh]

it was CLEARLY grandstanding as they pushed back the law's effects until next year, after the election. The republicans don’t have a plan, just wanted a look to show that they’re 'tough'

Please don’t get this thread locked by being partisan.

 

[Dcgc28]

Please don’t get this thread locked by being partisan.

It shouldn’t get closed for an opinion. They didn’t attack anyone or anything.

 

[bbeagle]

Please don’t get this thread locked by being partisan.

Robbie Cottam expressed his opinion - which is the opposite of mine - but also partisan. Why didn’t you have a problem with his comment?