Disney PISSED? | Universal Studios Orlando Gets Special Tax District | Legal & Financial Breakdown
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from THE STREET
https://www.thestreet.com/travel/universal-gets-something-huge-that-desantis-took-from-disney
Universal Orlando gets a new special district
The Orange County (Fla.) Board of County Commissioners on Oct. 10 voted unanimously to create the Shingle Creek Transit & Utility Community Development District, a special taxing district proposed by the Universal Orlando Resort, that includes 719 acres and encompasses Universal's new Epic Universe theme park that's under construction and 13 acres for a new SunRail train station on Destination Parkway, WDW News Today reported. Epic Universe is expected to be completed in 2025.
The special district reportedly will use $174 million in bond proceeds to fund public infrastructure, including $129 million for the SunRail station on the Sunshine Corridor connecting Orlando International Airport to the Orlando Convention Center near Universal's new park. The funding includes $40 million for odor control improvements at South Water Reclamation Facility and $8 million for improvements to Epic Boulevard leading to Epic Universe. County commissioners would need to vote to authorize construction of these projects.
Taxes and fees assessed on the landowners in the district are earmarked to fund the district. The only landowners within the Shingle Creek Transit & Utility Community Development District are Universal Orlando and Rida Development Corp., which owns the Hilton Orlando.
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