As we learned last week, the Central Florida Tourism Oversight District (CFTOD) has a meeting set for Wednesday, April 26th, to discuss reasons it believes that Disney’s Developer Agreements should be voided, as discussed during its last meeting on April 19th.

The comments that were made last week include referring to the Agreements as Disney’s “11th-hour deal,” calling them “illegal, shameful,” and “unconstitutional.” David Thompson, counsel to the Board, said that because Disney failed to mail notices to the residents who would be affected, they voided their own agreement. He also accused Disney of engaging in a “caper worthy of Scrooge McDuck” concerning the King Charles Clause they put in place. The clause refers to a binding declaration that won’t expire until England’s monarchy dies, rendering the new Board useless.

One of the main goals of this week’s CFTOD Board of Supervisors meeting is to declare Disney’s Developer Agreements null and void with the requested action as follows.

Approval of legislative findings regarding and declare the February 8, 2023 Development Agreement and Declaration of Restrictive Covenants entered into by the Reedy Creek Improvement District and Walt Disney Parks and Resorts U.S., Inc. void and unenforceable and direction to litigate on counsel to commence litigation as needed to have such instruments declared void and unenforceable, prohibit the enforcement of the same, to have such instruments terminated or stricken from the public records of Orange and Osceola Counties and to assert these legislative findings and seek remedies regarding the same.

CFTOD Board of Supervisors Meeting | April 26, 2023 | Agenda Item 8.1

The Board’s legislative findings have been posted. In the documentation, they state that the “one-sided” benefits of the Agreements are “long term” and that the District “receives nothing in return.”

The only theoretical benefit to the District in the text of the development agreement is that, when Disney obligates the District to construct public facilities that require land that Disney owns, Disney will not ‘request payment for the land in excess of fair market value.’ This benefit is illusory because the District has the power of eminent domain, meaning that it may take private property for public use and for just compensation. Because payment by the District of fair market value meets the full compensation requirement when it exercises its power of eminent domain, the development agreement does not provide the District any rights beyond what the District would have in the normal course.

CFTOD Board of Supervisors Meeting | April 26, 2023 | Legislative Findings Item 68

The final item in the list of legislative findings, item 92, states that “neither the development agreement nor the restrictive covenants are in the best interest of the District or the taxpayers or public, and the Board has no desire to readopt or ratify such instruments.”

You can read the entire document below.

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