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Disney is proposing to invest at least $1.9 billion in the Disneyland Resort over the next few decades and plans to provide Anaheim with millions more for housing and parks in a development agreement presented to the City Council. be.
The proposal, called DisneylandForward, will require several more meetings with Anaheim officials before reaching a conclusion.
Details regarding what Disney will do in the future have not been disclosed at this time. But the broad strokes mean the company has flexibility in choosing where to build new theme park areas, hotels and restaurants within existing sites.
In exchange for the concession, Disney would guarantee $30 million for affordable housing, $8 million for parks, and funding for nearby road improvements.
“We listened to Anaheim’s leaders and worked hard to address what’s important to the city,” Disneyland Resort President Ken Potrock said in a statement. “We are proud that Disneyland Forward will be able to provide many important benefits directly to Anaheim residents.”
The development agreement is scheduled to run until 2064, and Disney is estimated to end up spending $2.5 billion upon completion of the project.
The City Council is scheduled to vote on: of Propose by spring.