Celebration Sell Off

[manning]

P.S. most if not all of that other county is south of I-4

 

[JimB.]

+It's Osceola County

Also, If I remember a bit about taxes, lease payments are an operating expense that is deductible in whole every year.

Payments for capital improvements are deductible only to the amount of interest paid, and not the principal. Depreciation gets tossed in there also, but i'd be willing to bet that it is a tax & cash flow manuever.

Another point to toss in........ the land usage laws in Florida have changed by light-years since ole' Walt came down here and gobbled up 43,000 acres. IF Disney is selling off plots (which I find somewhat questionable, but hey, it might be true......), it may be land that they can no longer effectively develop in a manner which would be profitable to them.

 

[YoHo]

Osceola County is what I was talking about Disney not understanding what to do with the power they have.

As I understand it, Legally, Read Creek is more powerful then a FLorida County. Osceola shouldn't be able to do anything to them.

 

[manning]

Not really. Osceola county has permanent residents, thus voters. Disney makes a point not to have permanent residents living in Orange county, except maybe some company people.

 

[Bob O]

They had another interesting article in the July 15th Orlando Sentinel talking to more residents of celebration detailing how they believe disney lied to them and is trying to change the community from how it was sold to them.

 

[manning]

Just looked at the Orlando Sentinel web site and didn't see the article. However real estate transactions come under the statute of fraud. This means anything that has been agreed to, has to be in writing. If they are thinking of suing, it may be hard to prove.

Like any big corporation, I wouldn't be surprised at their change of direction.

 

[seashoreCM]

Did Disney sell the land, or did they just sell the buildings and lease the land under them?

Heaven forbid, if Disney were to sell off WDW piecemeal in the name of oursourcing, and that magnificent tract of land twice the size of Manhattan would be full of holes!

Disney hints:
http://members.aol.com/ajaynejr/disney.htm

 

[Bob O]

The article was on the july 12th and not the date i posted and it is by some columnists, i will try to find it and post some more info later.