Sounds like the City council has some work to do. I understand they want to keep more money in the city pocket for City needs. Of course they do. So maybe instead of cancelling the signed agreement, they went ahead and negotiated an addendum , perhaps changing from 15% tax rebate to 12%. With that amount of money at stake 3% more money in your pocket is an enormous number. The City is playing the tough guy and flexing it’s muscles, but at the expense of the market.
The City should have worked a little harder at negotiations. I am sure the pile of Disney lawyers had their noses in it too, though. Both parties need to put egos aside and work for an agreement since this development benefits both. As a former city commissioner (albeit, a much, MUCH smaller city) I can tell you bad public policy has a lasting effect on economic growth.
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