The board of Walt Disney World’s special tax district in Florida all cast their initial votes in favor of an agreement that would allow major expansion at Disney’s theme parks in the Sunshine State.
The first vote on the new development agreement between the Central Florida Tourism Oversight District and Disney occurred during the meeting that the district’s board of supervisors held on Wednesday morning. It was unanimous, according to the meeting’s livestream.
The board will cast their second and final votes on the development agreement, which also includes approval for Disney to potentially construct two minor parks and to boost its hotel and retail capacity, in a week. Disney intends on directing at least $10 million toward "attainable housing projects" and will also "donate land for public infrastructure improvements" as part of the agreement, according to the agenda.
Business reached out to Disney for comment on the CFTOD board’s Wednesday vote. Last month, Disney received final approval to move forward with a nearly $2 billion expansion plan for its theme park in California. The zoning changes that the entertainment giant received as part of that "DisneylandForward" proposal "would allow for the building of additional theme park and other visitor attractions" on existing Disney land there, the Anaheim City Council said at the time.
Its domestic parks and experiences, which includes Disneyland, Disney World and certain other offerings, generated $5.96 billion in revenue and $1.61 billion in operating income in the second quarter.
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