During their Wednesday meeting, the Central Florida Tourism Oversight District Board of Supervisors announced they had reached a settlement with The Walt Disney Company in their state lawsuit regarding the company’s development agreements with the former Reedy Creek Improvement District.

The Board voted on and approved the settlement. Stipulations include that Disney agrees the development agreements and restrictive covenants are null and void and do not contest the District’s assessment that the 2032 comprehensive plan is null and void. The District will consult with Disney on a new comprehensive plan. Both the District and Disney will dismiss all claims and counterclaims. Disney will dismiss their countersuit against the District regarding public records.

The labor services agreement between the District and Reedy Creek Energy Services will end in 2028. Disney owns the long-term mitigation credits and the District will not impede on those credits. The District and Disney also agree not to contest the prior actions of the Reedy Creek Improvement District.

Stay tuned for more details.

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The post BREAKING: Disney and Central Florida Tourism Oversight District Reach Settlement in State Lawsuit appeared first on WDW News Today.