The Central Florida Tourism Oversight District has released their full development agreement with Walt Disney World. The two parties created the agreement after reaching a settlement in their lawsuits against each other. We first learned details of the agreement in late May.

District & Disney Development Agreement

The development agreement is in the meeting packet for the District’s June 5 Board of Supervisors meeting. As previously reported, the development agreement is for 15 years.

Per the agreement, the 2020 Comprehensive Plan is operative instead of the 2022 plan. The District has agreed to update the Comprehensive Plan by Q3 2025.

Walt Disney World must invest at least $17 billion into development within the District in the next 10 – 20 years, with guaranteed spending of at least $8 billion in the first 10. Disney will fund a minimum of $10 million toward attainable housing. Disney will hire Florida businesses for at least 50% of the value of all construction work. They will provide annual reports on capital expenditure investments.

Exhibit D of the supplemental materials includes the desired completion dates of roadway, waste management, and other improvement projects.

Both Disney and the District must agree to any changes to the development agreement.

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