ORANGE COUNTY, Fla. — In 1967, Florida Gov. Claude Kirk signed into law the legislation creating Disney’s Reedy Creek Improvement District.

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In 2022, Florida Gov. Ron DeSantis signed into law the legislation abolishing the Reedy Creek Improvement District.

Now a new district is on its way.

“Since we left session, the conversation between the governor’s office and the interested parties of Reedy Creek have continued, and Disney is included in that, obviously,” said state Rep. Daniel Perez (R-Miami).

READ: What would dissolving Disney’s Reedy Creek mean for local taxpayers?

Perez, who is set to become Speaker of the Florida House in 2024, said details and a timeline are still being worked out.

“We are not yet announcing the Reedy Creek plan, but we will,” wrote Bryan Griffin, Press Secretary for DeSantis, in a statement to Eyewitness News.

For its part, Reedy Creek has not commented on the negotiations.

READ: Here’s who may oversee Disney property after Reedy Creek is dissolved

Central Florida Republicans have indicated that negotiations have been ongoing since at least May, with Disney looking to maintain its taxing district.

“My gut tells me that what we will see is a new special district with a different name,” said University of Central Florida political science professor Dr. Aubrey Jewett. “But, if Reedy Creek just goes away with no replacement, then local taxpayers will be on the hook.”

Reedy Creek currently has about $1 billion in outstanding bonds. According to state law, if the district goes away in June of 2023 without a replacement, the obligation to service those bonds will fall on the taxpayers of Orange and Osceola counties.

READ: End of Reedy Creek: Disney won’t pay more taxes, but you will

VIDEO: First Reedy Creek lawsuit against DeSantis filed, but some question its strength First Reedy Creek lawsuit against DeSantis filed, but some question its strength

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