Reedy Creek Improvement District Strikes Deal for $3 Million Credit to Cover Bills In Face of Dissolution

The Reedy Creek Improvement District, which governs Walt Disney World Resort, faces dissolution next June from a law signed by Florida Governor Ron DeSantis. As the dissolution date of June 1, 2023, approaches, the district is making moves to cover expenses it will owe in May.

According to the Orlando Business Journal, Reedy Creek and Truist Bank have struck a deal for a reimbursement agreement in the amount of $3 million. It would function as a line of credit to ensure the electric bill due to Duke Energy in May will be paid.

“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.”

For more on the impending dissolution of the Reedy Creek Improvement District, check out the following articles:

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2 thoughts on “Reedy Creek Improvement District Strikes Deal for $3 Million Credit to Cover Bills In Face of Dissolution”

    • Getting into culture wars and childish squabbles with entertainment companies aren’t very good for governors either, as we’ll soon see come November.

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