Florida lawmakers consider what to do after dissolving Reedy Creek Improvement District

ORLANDO, Fla. — The clock is ticking, and there is $1 billion on the line.

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Last year, Florida lawmakers targeted Disney, dissolving the company’s Reedy Creek Improvement District.

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In doing so, they set the stage for $1 billion in debt to be transferred from Disney and Reedy Creek to the taxpayers of Orange and Osceola counties.

Channel 9 recently sat down with Palm Coast representative, and speaker of the Florida House, Paul Renner to ask if taxpayers will be saddled with the billion dollars in debt next year.

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“Let me be a little more definitive than I think,” Renner said. “So, we’re not going to we’re not going to have a landing spot to have kind of the level playing field that others enjoy for Disney and let their special district expire or put them in default on their bonds. We’re a lot more thoughtful and responsible than that. So those conversations are ongoing, and I think we’ll find a landing spot that people will look at and say that’s a fair way to move forward.”

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Both Renner and Speaker-Designate, Daniel Parez, have told Channel 9 that they expect a new district to be created in 2023, one which will be largely similar to the one that was dissolved.

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