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Disney and appointees of Florida Gov. Ron DeSantis have officially approved an agreement that could result in the company investing $17 billion into its Florida properties, as well as a potential fifth major theme park.
The news comes two months after the two parties agreed to end their drawn-out legal battle, which centered on oversight of the Disney World district that provides municipal services like fire suppression, emergency medical services, law enforcement services, environmental protection and public utilities.
The DeSantis-appointed supervisors of the Central Florida Tourism and Oversight District — formerly the Reedy Creek Improvement District — are one step closer to cementing a final agreement with Walt Disney Parks and Resorts U.S., after the appointees unanimously voted Wednesday to accept proposed revisions and approve the new development agreement.
Both sides had agreed to negotiate this new agreement after a March settlement, which ended their state court lawsuits against each other, according to The Associated Press.
Final action for the development agreement will take place with Walt Disney Parks and Resorts in another public board meeting on June 12.
