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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Sirwalterraleigh51 minutes ago

Arlen spectre syndrome…there is no known cure

JohnD1 hour ago

What political affiliation is he today? Anyone know? I can't keep up.

Sirwalterraleigh1 hour ago

If you believe recycling the same handful of people through positions with money influence is “healthy”… …what’s Charlie crist up to? 🤔

MisterPenguin1 hour ago

"I, as governor, will not be appointing myself as senator." "I, popular movie star, will not be in the next MCU movie."

JohnD1 hour ago

I don't see it happening. He already made clear his finishing out his term as Governor. Besides, he's an executive. I don't think Senate is his style, although he served in the House a few terms. If he lobbies for anything it would be AG. He's well suited for that as a former JAG officer. If not, he ran for President a few months in 2023-2024 to bolster his credentials. He leaves office in January 2027 as one of the best known Governors in the nation, ready to run in 2028 for President. Disney is no longer an issue for him. He's serving out his term.

Sirwalterraleigh1 hour ago

Well I highly doubt he’s gonna go take DWI cases in dade county Government seems to be rather addictive

jpeden1 hour ago

Based on the statement that I posted earlier I’d be very surprised if he did that. That type of statement doesn’t come out by accident or without him knowing about it.

JoeCamel1 hour ago

cough *scott* cough

ToTBellHop1 hour ago

He’s a term-limited governor who still sees a future POTUS in the mirror every morning. If he wants to be relevant enough to stage another campaign in 2028, he will want to be in Washington. And, if he never becomes POTUS, his “consolation” prize could be a 40-year career in the US senate since he’s still in his 40s. I’d be surprised if he doesn’t pick himself. Politicians want long-term jobs. That’s why so many former Governors become Senators.

Tom P.1 hour ago

How so? This is the constitutional and legal process for replacing sitting Senators. It has happened many, many times before. How is that a circus?

Stripes2 hours ago

To be clear, Disney is very happy with the current district board and particularly the new district administrator. They could not be more effusive in their praise for Kopelousos.

JohnD3 hours ago

I'm just saying she is more likely than himself. Not that he would appoint her. If he appointed someone already in office, then provisions would have to be made to fill that vacant position. She was only "elected" as a running mate. So easier to appoint her and appoint someone else to be Lt. Gov.

LAKid533 hours ago

Why would he appoint her? If it's not himself, I'd think he'd want someone within his inner circle.

JohnD3 hours ago

I think that's highly unlikely. More likely is the Lt. Gov. appointed Senator. As for relations, I think we're over that hurdle. Things have settled down. Seems "business as normal" to me.