Walt Disney Parks and Resorts has settled a legal dispute with Florida officials regarding the special tax district encompassing Walt Disney World in Orlando.

The settlement includes the removal of previous covenants and a development agreement, transitioning to governance under an earlier plan.

Disney and the newly appointed board will enter negotiations to draft a fresh development agreement.

As part of the settlement, Disney is retracting its appeal of a federal lawsuit.

The agreement marks a shift towards a collaborative relationship between Disney and the district's new board.

The resolution paves the way for Disney to proceed with expansions to compete with Universal Studios and encourages future investments in the resort.

The settlement heralds a new era of cooperation with the district's new leadership, potentially benefiting the region's economic landscape.