Disney would also commit to give the city $30 million for affordable housing, according to overview of a proposed development agreement
By Michael Slaten
Disney will commit to investing at least $1.9 billion into the Disneyland Resort over the next decade, along with providing millions more for housing and parks, as part of a proposed agreement with Anaheim to pave the way for new development at its theme park properties.
The development agreement, presented Tuesday afternoon during a City Council workshop, would give Disney flexibility to choose where it builds new theme park areas, hotels and dining within its existing footprint, and in return would guarantee the city the continued investment into the resort, along with $30 million for affordable housing and $8 million for parks and money for nearby road improvements. It’s part of the theme park’s DisneylandForward proposal to update the resort over the coming years.
“We listened to Anaheim’s leaders and worked hard to address what is important for the city,” Ken Potrock, president of the Disneyland Resort, said in a statement. “We are proud that DisneylandForward will provide many important benefits directly to the residents of Anaheim.”
Disney also proposes to buy some streets from the city for $40 million, including Magic Way
The development agreement would last until 2064.
Read more at: OC Register