Disney has proposed investing at least $1.9 billion into the Disneyland Resort over the next decade, and will provide Anaheim millions more for housing and parks in a development agreement presented to the City Council.
The proposal is called DisneylandForward and still needs to go through several more meetings with Anaheim officials before its conclusion.
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No specific details on what Disney will do have been revealed as of yet. But the broad strokes mean the company would have flexibility to choose where it builds new theme park areas, hotels, and dining within its existing footprint.
In return for that concession, Disney would guarantee the city $30 million for affordable housing and $8 million for parks and money for nearby road improvements.
“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.”
The development agreement would last until 2064. It is estimated that Disney would wind up spending $2.5 billion when work is complete.
The City Council is expected to vote on the proposal by spring.
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