Disney's CEO Bob Iger says settlement agreement with Oversight District is a 'win-win' for Disney

Apr 03, 2024 in "Reedy Creek Improvement District"

Posted: Wednesday April 3, 2024 1:54pm ET by WDWMAGIC Staff

Disney CEO Bob Iger has made his first public comments on the recently announced settlement agreement between Walt Disney World and the Central Florida Tourism Oversight District.

Announced in late March, the Walt Disney Company and the Central Florida Tourism Oversight District proposed a settlement agreement that will potentially see both sides drop their respective lawsuits. Today, Iger described the agreement as a "win-win" for Disney.

The critical points of the agreement from Disney's perspective are that the district commits to reviewing and potentially amending the 2020 Comprehensive Plan, with consultations involving Disney, and that the subsequent negotiations for the new development agreement are linked to Disney pursuing or halting its federal lawsuit against CFTOD and Florida Governor Ron DeSantis.

Responding to a question about investing in the parks, Iger said, "The agreement we reached with the Central Florida tourism oversight district last week will actually enable us to pursue the kinds of significant investment in our Florida parks that you're talking about. We achieved a win-win result with that deal. In terms of our ability to pursue future development opportunities, but also in terms of the 1000s of direct and indirect jobs, and economic opportunity in the state that will come with our investment in new projects. So as we've discussed regarding our $60 billion capital expenditure plans, is much more coming to our parks around the world, including in Florida."

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vikescaper3 days ago

I could see them doing something similar to what they did to the BVD and Hotel Plaza Blvd intersection years ago. They changed the alignment so Hotel Plaza Blvd flows directly into BVD.

maxairmike3 days ago

As long as they're widening all the way from BVD to Avalon (mainly to match lane alignments since the Sawgrass/Flemings connection is finally being fast tracked) and working with CFX to finally signalize the 429 interchange, anything less than that is like putting a normal size bandaid on a multi-inch gash. I think they also need to look at an alternative to the standard intersection for BVD and Western Way given the volume of traffic there, but that's probably more of a multi-phase project like World Drive, as it would likely involve modifications to the World Drive/BVD interchange alignment and flow, as well as the Coronado intersection in what I envision as a "good" solution.

Brian6 days ago

Widening Western Way? Yes, please! That road is a nightmare between 4-6pm, thanks to the s***storm known as I-4!

DCBaker6 days ago

Here's what was in the BoS packet:

JoeCamel6 days ago

Who's 100M is it?

GoneViral6 days ago

Imagine if anyone in this thread had said six months ago that the CFTOD would propose $100 million to fix WDW roads. They would have been laughed out of here.

Goofyernmost7 days ago

Whereas, I have no degree in legal jargon, can someone please splain what that all means and did it have any fundamental changes to how it has always been run in the past as per ss. 123.4567-8910, G.F. 🤔 :)

DCBaker8 days ago

The agenda and documents for the CFTOD Board of Supervisors meeting on Wednesday, May 22 is now available at the link below. https://www.oversightdistrict.org/wp-content/uploads/2024/05/May-22-2024-BOS-Packet.pdf Here's what included for RESOLUTION NO. 661 (begins on page 270 in the PDF):

peter1143517 days ago

No. But it’s the start of the process

MR.Dis17 days ago

Does this mean a new agreement has been reached with Disney? I am trying to read between the lines on just what this is saying.

flyakite17 days ago

castlecake2.030 days ago

Yes

Stripes30 days ago

Has Disney/CFTOD continued to replace the purple direction signage with the new blue color scheme since CFTOD took over?

mkt30 days ago

You're right. The new document will be different. It will be "different" in the way that Chris Gaines was "different" from Garth Brooks or how the drummer from Nirvana is "different" from the singer of the Foo Fighters.