Disney's Reedy Creek Scores Massive Deal Amidst DeSantis Threats

Walt Disney World’s Reedy Creek just approved a major plan, one that might ease concerns from one of its top power providers.

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Reedy Creek, which is controlled by Disney, can issue tax-free bonds, levy taxes, oversee land use and environmental protections and provide essential public services. Recently, the Florida Governor took even more action against the district.

Amidst threats by Florida Gov. Ron DeSantis, Disney’s Reedy Creek Distrct, approved a plan to enter a reimbursement agreement with Truist Bank involving a whopping $3 million letter of credit in favor of Duke Energy Florida LLC.

This line of credit helps ensure that Reedy Creek will be able to pay its May 2023 bill should it be dissolved on June 1, as Gov. DeSantis stated months ago.

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“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 Orlando Business Journal. “It makes smart sense for Duke to make sure they are covered from a business perspective.”

It is important to note that most of Reedy Creek’s electrical power comes from utility providers like Duke Energy. The remaining 10% comes from solar power.

Solar panels can be seen all throughout the Walt Disney World property, including the infamous Mickey Mouse-shaped cluster.

The last few months have been an incredibly tumultuous time for The Walt Disney Company. As soon as word got out that the company had supported Florida’s controversial Parental Rights law, fans, employees, and leaders were stunned. Disney eventually took a stance against the bill, which caused friction between the company and the state of Florida, with Gov. Ron DeSantis continuing to escalate the battle with incendiary words and even more hostile actions.

For those that may not know, Florida Gov. Ron DeSantis has been attempting to completely dissolve Disney’s special Reedy Creek district. Officially titled the Reedy Creek Improvement Act, with this special ruling, Disney can essentially reside in Florida unregulated, acting as its own “government” in a way. The act involved creating a special taxing district that acts with the same authority as a county government.

What do you think about Disney’s Reedy Creek District?