Anaheim Moves To Pay Resort Debt Off From ’96 Disney Expansion Deal Sooner
Disney California Adventure opened to the public 18 years ago on Feb. 8, capping off the transformation of the modern Disneyland Resort as residents and tourists have come to know it since. Downtown Disney and the Grand Californian Hotel celebrated grand openings a month before the new theme park’s big day. Anaheim city council passed a massive Disneyland expansion deal in 1996 that led to $510 million in bonds for resort-area improvements and projects like the Mickey & Friends parking garage in exchange for Disney’s planned $1.4 billion investment. Now, after more than two decades of wading through bond payments compounded by interest that have been expected to total $1.6 billion when all is said and done in 2037, current city council members are looking to unload resort debt sooner by refinancing some of the bonds. Sounds good, right?
Read more on my latest OC Weekly Navel Gazing Blog post: