According to a report from the Orlando Business Journal, the Reedy Creek Improvement District was approved for a $3 million letter of credit in favor of Duke Energy. The $3 million is to cover the district’s anticipated May 2023 energy bill. Governor Ron DeSantis signed a bill earlier this year to dismantle the district in June 2023.
“From Duke’s perspective, they want to make sure there’s a guarantee they get paid for May’s charges in June if we are not here — it’s a safety net [for Duke],” John Classe, district administrator of Reedy Creek told the Orlando Business Journal. “It makes smart sense for Duke to make sure they are covered from a business perspective.”
Last month, a Florida representative said that a solution would be presented soon and clarity provided for the future of the Reedy Creek Improvement District.
The road to dismantling the Reedy Creek Improvement District is a winding one, but one that started essentially out of retaliation by DeSantis after he and Disney butted heads over the “Don’t Say Gay” law earlier this year. Here’s a timeline of the fallout:
March 2022
- March 7th – Disney CEO Bob Chapek sends out a company-wide email that says that Disney will not denounce the “Don’t Say Gay” bill and that the company will essentially try to stay out of politics.
- March 9th – Disney CEO Bob Chapek attempts to walk back his email, saying that the company has been “opposed to the bill from the outset”.
- March 10th – The Human Rights Organization rejects Disney’s donation
- March 11th – Disney CEO Bob Chapek sends a company-wide email apologizing for lack of action and advocacy on “Don’t Say Gay” bill
- March 22nd – Hundreds of Disney employees participate in a walkout at Disney Headquarters over the company’s initial apathy over “Don’t Say Gay” bill
- March 28th – Florida Governor Ron DeSantis signs “Don’t Say Gay” into law, Disney responds
- March 30th – Florida lawmakers begin floating the idea of dismantling the Reedy Creek Improvement District in retaliation for Disney’s support of LGBTQIA+ communities
April
- April 20th – Florida Senate passes bill to dismantle the Reedy Creek Improvement District
- April 22nd – Florida Governor Ron DeSantis signs bill to dismantle Reedy Creek Improvement District
May
- May 2nd – DeSantis is said to want to create his own “Lake Buena Vista District” in place of the Reedy Creek Improvement District
- May 16th – DeSantis says that he’ll make Disney pay an outstanding RCID debt of $1 billion despite no laws requiring Disney to do so
August
- August 23rd – In a motion to dismiss a lawsuit against the state, DeSantis’ lawyers argue the RCID dissolution might not happen
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