Oversight District Gives Final Approval of New Development Agreement with Walt Disney World That Allows a Fifth Gate

Shannen Ace

A view of cinderella castle with blue spires and pink walls, showcasing intricate architectural details and turrets against a clear blue sky, reminiscent of the enchanting scenery at Walt Disney World in Central Florida.

Oversight District Gives Final Approval of New Development Agreement with Walt Disney World That Allows a Fifth Gate

At their Wednesday, June 12 meeting, the Central Florida Tourism Oversight District Board of Supervisors officially approved their new development agreement with Walt Disney World.

District Approves Development Agreement

A view of cinderella castle with blue spires and pink walls, showcasing intricate architectural details and turrets against a clear blue sky, reminiscent of the enchanting scenery at Walt Disney World in Central Florida. The Oversight District has approved the new development agreement with Walt Disney World.

The motion was approved and authorized unanimously by the District board.

The District and Disney created the new development agreement after they settled their lawsuits against each other earlier this year. On June 5, the Board voted unanimously in favor of the agreement. Wednesday’s vote was the final approval.

The agreement includes Disney investing $17 billion into Florida in the next 10-20 years, with a minimum of $8 billion in the next decade. They will also fund a minimum of $10 million for attainable housing and hire Florida businesses for at least 50% of the value of all construction work.

The plan covers 17,300 acres owned by Disney and allows for a maximum of five theme parks.

For the latest Disney Parks news and info, follow WDW News Today on TwitterFacebook, and Instagram.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.