Parts of Disney's last-minute agreement with Reedy Creek that may render the new DeSantis board powerless are valid until 21 years after the death of the last survivor of the descendants of King Charles III of England

Mar 29, 2023 in "Reedy Creek Improvement District"

Posted: Wednesday March 29, 2023 3:41pm ET by WDWMAGIC Staff

Disney's final Developer Agreement between Reedy Creek Improvement District and Walt Disney Parks and Resorts appears to have severely handicapped the Ron DeSantis-appointed board of the new Central Florida Tourism Oversight board.


Signed into effect on February 8, just as the Florida House passed the legislation to take control of Reedy Creek Improvement District, the new Developer Agreement gives Disney significant control of the RCID landing and prevents the new board making any changes to the agreement.

At today's special meeting, where the board discussed the new Developer Agreement, one member said, "We lose control over everything other than to maintain the roads and maintain the infrastructure."

Board member Brian Aungst said, "We gave governmental control to Disney."

The legal council for the new board said that various agreements were made over the past several months that were "unusual" and "suspect."

In a brief statement following the meeting, Disney said, "All agreements signed between Disney and the District were appropriate, and were discussed and approved in open, noticed public forums in compliance with Florida's Government in the Sunshine law."

The Governors office released the following statement this afternoon, "The Executive Office of the Governor is aware of Disney's last-ditch efforts to execute contracts just before ratifying the new law that transfers rights and authorities from the former Reedy Creek Improvement District to Disney. An initial review suggests these agreements may have significant legal infirmities that would render the contracts void as a matter of law. We are pleased the new Governor-appointed board retained multiple financial and legal firms to conduct audits and investigate Disney's past behavior."

You can review the February 8 Reedy Creek Improvment Dsitrcit Developer Agreement here.

One aspect of the agreement contains an interesting timeframe for the document's term.

This declaration shall continue in effect until twenty one (21) years after the death of the last survivor of the descendants of King Charles III, King of England living as of the date of this Declaration. Notwithstanding the foregoing or anything to the contrary herein, this Declaration will terminate as of the date that none of WDPR or any of its Affiliates (or their respective successor entities) owns any real property within ten (10) miles of the RCID Properties.

The legal wording makes use of the Royal Lives Clause,  a common practice in the United Kingdom in the past century to tie up a trust to a living person who was expected to have one of the longer life expectancies in the population. This article explains more.

The action by DeSantis to strip Disney of its self-managing district came in retaliation to Disney's public opposition to the Parental Bill of Right law, which took place under ex-Disney CEO Bob Chapek. Speaking at the Reedy Creek firehouse on February 27 when signing the bill, DeSantis said that Disney's opposition to the Parents Bill of Rights bill was a "mild annoyance," but that the state of Florida will no longer be "joined at the hip with one California-based company." After signing the bill DeSantis said, "the corporate kingdom finally came to an end."

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mkt9 hours ago

2 New filings in CFTOD v Disney. Nothing big, just notice of appearance and designation of email addresses for two CFTOD attorneys.

mkt15 hours ago

No new filings in either case as of 1:30pm Wednesday. You're halfway to the weekend, you've got this!

mkt15 hours ago

I did dirty deletes to make life easier for the mods.

Chi8415 hours ago

As far as I can tell it’s people who are poor but live on very valuable property.

flynnibus16 hours ago

I don’t even know who’s supposed to be moving..,

ParentsOf416 hours ago

Just scrolled through the last few pages. Is this thread about RCID or real estate prices?

Bocabear16 hours ago

I have lived here for 23 years...this is my home. My partner and I both work in the area, any move would cause at least one of us to have to find a new employer....and then there are friends, family, a sense of community and being... It is not just about making some cash grab. (in our location) we would have to leave the area entirely or move to a bad neighborhood in order to realize any profit ... There really is no getting ahead of it without great sacrifice to quality of life...

LAKid5317 hours ago

Perhaps because they are reluctant to discuss that with someone outside their culture? They are treated differently. I've witnessed my son-in-law be profiled. And he was born in Florida, is very light skinned (we jokingly call him "ginger") and his accent isn't that discernable.

Lilofan17 hours ago

A number of my friends are from Puerto Rico and they and their families including their grandparents came stateside years ago and some recently. In our times together no subject of being treated differently came up. I do love the welcoming embrace to me in their homes and the delicious PR food and the very addictive coquitos.

lazyboy97o17 hours ago

Nothing like a derail based on trite, shallow “advice.”

Lilofan17 hours ago

Yes my values is taking the money offered to me and improving life for our family.

Lilofan17 hours ago

There an areas that are cheaper COL without the hustle and bustle of south FL if one is willing look at options.

LAKid5317 hours ago

It's more than just $$$$ for some.

Lilofan17 hours ago

If a realtor offered me $2M I would be happy to sell and move on.