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Disney's Special Tax District in Florida, Explained | WSJ - YouTube
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- [Reporter] What
started as a war of words
[1]
between Florida and Disney
[3]
over a bill restricting
classroom instruction
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on gender and sexuality has
turned into a battle over
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how the company operates in the state.
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Walt Disney World Theme Parks
sit on a 40-square mile area
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near Orlando known as Reedy Creek.
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- Reedy Creek, the special
benefits district that Disney has
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at Walt Disney World in Florida,
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it allows them to essentially
be their own government.
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- [Reporter] In response
to Disney's opposition
[26]
to the recently-passed Parental
Rights in Education law
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which critics called the
"Don't Say Gay bill",
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Florida lawmakers have
passed new legislation
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that would eliminate Reedy Creek.
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Governor Ron DeSantis, who's
spoken out against Disney,
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has already made clear he'd
signed the legislation.
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- They do not run this state.
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They do not control this state.
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- [Reporter] Disney declined to comment
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and has so far not publicly responded
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to the special district bill.
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- It just kind of casts a lot
of uncertainty over the future
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of Walt Disney World's business model.
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- [Reporter] So how has
Reedy Creek benefited Disney
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over the years?
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And what would its disillusion mean
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for the company and for Florida?
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The Reedy Creek Improvement
District was created in 1967,
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but the idea for it
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came after Walt Disney
first identified the land
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that would be Disney World.
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- As you can see on this map,
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we have a perfect location in Florida.
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- What Walt wanted to do was two things.
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Number one, he wanted to have more control
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over who his neighbors were
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and what kind of
businesses would spring up
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around the new Florida
resorts and Walt Disney World.
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And number two, he wanted
to get it done quickly.
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- [Reporter] Disney World opened in 1971,
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just four years after the
creation of Reedy Creek,
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making it the first attraction
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in what is now a sprawling vacation land
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of four theme parks, two water parks,
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a sports complex, hotels
stores, and restaurants.
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- All of those projects,
all the additions,
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all the growth at Walt Disney World
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would've been either much
harder or even impossible to do
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if not for Reedy Creek
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- [Reporter] Reedy Creek allows Disney
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to construct new buildings
and expand its parks
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without having to adhere
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to state or county regulations
related to construction,
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wastewater management, and drainage.
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- All of that stuff is
irrelevant at Reedy Creek
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because Disney is the one
that makes those rules.
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- [Reporter] Reedy Creek
also exempts Disney
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from having to pay certain taxes and fees.
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While it still pays property taxes
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to Orange and Osceola Counties,
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which surround its theme parks,
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Disney doesn't need to pay
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for the services provided by Reedy Creek,
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like its fire and emergency services.
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- It's all run by Disney.
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It's all built by Disney,
paid for by Disney,
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and run by Disney.
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And what that does is it gives
a huge amount of flexibility
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to the company when they want to expand
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and it makes it so that
they don't have to employ
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as many lawyers and planners
to really get things done
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when they need to get them done.
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- [Reporter] The exact value
of these benefits is unclear,
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but a person familiar with
the company's finances
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who studied the issue over a decade ago
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said the district saves Disney
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tens of millions of dollars every year.
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Representatives from Reedy Creek
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didn't immediately reply
to request for comment.
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For Disney, losing Reedy Creek
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would not only mean losing those savings,
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it would mean losing control.
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And for a company trying
to provide the kind of fun,
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curated experience
Disney World strives for,
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that's a challenge.
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- It's a huge blessing for a company
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to not have to live at the
whims of elected officials
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in the jurisdictions where you operate
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and that's kinda how
they've been operating
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for the past 50 years,
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so it would be a huge
cultural change as well.
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- [Reporter] But eliminating Reedy Creek
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could have effect Florida too,
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specifically residents in
the surrounding counties.
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Reedy Creek, like other
cities and counties,
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carries bond debt, about
$977 million worth.
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- Right now, it's just
one taxpayer, Disney,
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that's responsible for it.
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If this bill gets passed, then
as soon as it takes effect,
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that debt will be
shouldered by the taxpayers
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of Orange County, the citizens of Orlando.
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- [Reporter] Mayor Jerry
Demings said in a statement,
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"Orange County Government
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is monitoring the special
session in Tallahassee,
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particularly when it comes
to unfunded cost shifts
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to local governments."
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And in a statement, Osceola County said
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it "will begin an analysis
to understand the impacts
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in preparation for this
going into effect."
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Under the bill passed this week,
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Reedy Creek would be
dissolved on June 1st, 2023,
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though Disney could seek to
reestablish a special district
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after its disillusion.
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- I'm sure there's gonna be a big fight,
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a lot of lawyers, a lot
of lobbyists involved
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in trying to figure out
some sort of workaround
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or a temporary way that
this won't be so disruptive.
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The new reality is gonna
be much more challenging
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for Disney in Florida.
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