Orlando, Fla. — In a significant development that promises to strengthen the partnership between Disney and the Central Florida Tourism Oversight District, a 15-year development agreement has been signed. Following the recent approval by Florida Governor Ron DeSantis’ appointees, Disney is set to invest a staggering $17 billion in Walt Disney World over the next two decades.

This landmark agreement brings an end to the contentious legal battles that erupted after Disney publicly opposed a state law in 2022. With the new deal, the Central Florida Tourism Oversight District, formerly controlled by Disney supporters, will now receive up to 100 acres of Disney property for infrastructure projects. Additionally, Disney will award half of its construction projects to Florida-based companies and allocate at least $10 million for affordable housing in central Florida.

In a show of unity, board members unanimously endorsed the agreement. Brian Aungst, a district board member, remarked, “This is the day we all have been looking forward to. I was always extremely optimistic and knew we would get here because it was the right outcome.” This deal lays down a stable framework for collaboration, potentially leading to the development of a fifth major theme park and other expansions at Disney World.

Orlando’s tourism industry leaders have also lauded the agreement, anticipating a surge in jobs, tourists, and global attention to the region. Robert Earl, CEO of Planet Hollywood International, Inc., expressed his enthusiasm, stating, “It very clearly demonstrates to the world that the district and Disney are eager to resume working together for the great state of Florida.”

Despite this promising progress, an unresolved federal lawsuit remains. Disney had initially sued DeSantis, claiming their free speech rights were violated. While this lawsuit was paused during negotiations, Disney now has until next week to decide whether to proceed.

Fans and followers, what are your thoughts on this new era of cooperation between Disney and the Central Florida Tourism Oversight District? Share your comments below and join the conversation! For more details and the full story, check out the original article on CBS News.