Reedy Creek issued bonds to build infrastructure within its development zone. The main beneficiary of that infrastructure was Disney, but it belonged to Reedy Creek. Now that Reedy Creek no longer exists, that is Florida's debt.
Uh-oh, Reedy Creek will outlast DeSantis!
- Thread starter Jarod
- Start date
Reedy Creek issued bonds to build infrastructure within its development zone. The main beneficiary of that infrastructure was Disney, but it belonged to Reedy Creek. Now that Reedy Creek no longer exists, that is Florida's debt.
Honestly, I doubt there will be new debt. DeSantis' plan will be to have the roads around Disney fall apart. His intention is to destroy Disney.
He will fail. Disney is stronger than just its Florida operation. They will slowly withdraw from Florida, and Florida will lose out on the economic benefit.
It is a huge loss to Florida, and a huge loss to Disney.
It is being dissolved. It can no longer tax, so can no longer pay bonds. That means the bonds become Florida's problem.
PostmodernProphet
fully immersed in faith..
there won't BE any new debts for Reedy Creek.....the new municipal government for that area will will have to establish a budget, tax the property within its bounds and handle matters the way every other municipal government in Florida does.......
Ok, and who will pay those taxes?
PostmodernProphet
fully immersed in faith..
like every other Florida municipal district......those who own property within its bounds.......
Althea
Althea told me...........
It has begun. DeathSentence is now claiming that Fla. will NOT be paying the $1 billion in Disney debt. Lol. He's freeking out.
Althea
Althea told me...........
Texas/Colorado have already made offers.
PostmodernProphet
fully immersed in faith..
why would Florida pay Disney's debts?.....
PostmodernProphet
fully immersed in faith..
I think it is amusing lib'ruls are stupid enough to think Disney would pack up their amusement park and move it.....
Exactly, so a tax increase for Orange County citizens, like I’ve been saying. Because the Governor was pissed at Disney for expressing a political opinion…
Failure to pay government bonds is scary stuff. Florida made those bonds worthless, by removing the taxes they depend on to be repaid. If they refuse to pay, the bond markets will clobber them.
I know trump and Desantis think everything is just public relations, but there are real numbers out there too. If you do not service your debt, you do not get more loans.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Doubtful that they'll just leave the building like tenants from Trump Tower.
Not a business guy, but my understanding is that DeSantis is blowing smoke out of his fat ass and he can't actually cancel the contract. Time will tell if Herr DeSantis will keep trying to limit the First Amendment for corporations in Florida.
Although I doubt Disney would relocate the resort, any expansion plans will probably be put on hold and possibly relocated themselves. The present facilities will continue to be used, albeit at higher costs to residents and visitors.
In the end, I think this will come back to haunt DeSantis as will the actions of all Trumpian traitors, terrorists and fellatists.
Dutch Uncle
* Tertia Optio * Defend the Constitution
Political opinion = First Amendment rights.
Trumpian traitors, terrorists, fellatists and pedos love to shred the Constitution as they've been doing since 2015.
Disney is definitely moving out of Florida. This is a huge opportunity for many other states.
This is a huge loss for Florida, and for Disney. Disney owns 30,000 acres of Florida land, much of it is highly developed. Giving that up will be painful for everyone... Everyone except states like Texas, Colorado, Georgia, California, New York, Virginia, and basically all the 49 states that will be trying to get the goose that laid the golden eggs away from Florida.
Disney had decided it would be better to do it themselves and pay for it themselves than have government involved. Now the government will do these things and the taxpayers will pay for it.
If getting rid of Reedy Creek would save Disney millions they would have lobbied and had this done decades ago. I will say only that reality will not match the leftist predictions in this thread and that Disney will pay their debt and pay more in taxes now that they can't just "pay themselves" taxes for services that they will now receive a tax bill for...
Someone should save a link and bring it back up once things settle. We can revisit this. I'll happily say I was wrong if it turns out that Disney is "making out like a bandit" and that the debt is being paid for by the county and not Disney.
Someone should save a link and bring it back up once things settle. We can revisit this. I'll happily say I was wrong if it turns out that Disney is "making out like a bandit" and that the debt is being paid for by the county and not Disney.
Dutch Uncle
* Tertia Optio * Defend the Constitution
DeSantis will try to kill the Golden Goose, but I'm not sure he can. This appears to be Trumpian Bukkake theater. <-joke
Kabuki theater.
Nonsense.
"If you do not service your debt, you do not get more loans."
Tell that to Slow Joe and the student loan forgiveness plan.
Political opinion = First Amendment rights.
Trumpian traitors, terrorists, fellatists and pedos love to shred the Constitution as they've been doing since 2015.
Its amazing that it appears they never really cared about the Constitution, they were just pretending all along.