Disney strikes development deal with Florida Gov. DeSantis’ board

(CNN)– Disney and a board backed by Florida Governor Ron DeSantis have reached a development agreement.

Under the deal, Disney promises to invest up to $17 billion in its Florida resort over the next 10 to 20 years.

It also sets up a framework for potential theme parks expansions.

The 15-year agreement was negotiated as part of a settlement following a years-long legal dispute between Disney and DeSantis.

A newly-renamed entity, Central Florida Tourism Oversight District, oversees all public services for the Walt Disney World Resort area.

And it now has board supervisors chosen by the governor.