Recently there is a News spread in the global scenario that “Universal Orlando Resort” got special district privileges in order to beat the last topper Walt World. Orlando is the most iconic theme park in the United States, located in Orlando, Florida. Now it is eligible to enjoy the special district privileges that can be attributed to the formation of a special taxing district named the Universal Boulevard Community Development District (CDD).
The “Universal Boulevard Community Development District” is a special-purpose government body created by the Florida Legislature in 2015. The purpose of the creation is to generate the financing and development of the Universal Orlando Resort and the surrounding area. Now, districts have the power to issue bonds and put taxes to fund basic infrastructural developments and public boundaries.
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What are the Advantages from Special District Privileges to a Destination
1. Financing Infrastructure
It is important to know that CDD has the power to issue bonds to finance infrastructure improvements if any necessary development process and operations take place in Universal Orlando Resort. Including Public infrastructures, utility services, roads, and transportation facilities.
2. Development Oriented
Special District Privileges also focused on development initiatives especially developing and managing tourism oriented infrastructure, infrastructure development and offering more amenities options to destinations.
3. Taxing Authority
As we said earlier, CDD has the power to levy and collect taxes within its territory. These taxes are mainly used to repay the bonds issued by the district, as well as to fund for maintenance and operation of public amenities.
4. Land Use Control
The CDD is eligible to maintain and use land within its district, the purpose of the development area, and land upliftment. This control allows Universal Orlando Resort to align the surrounding areas to enhance the guest experience and create a cohesive resort community.
5. Unique Governance
CDD is a unique body therefore governs and controls its governance structures, more versatile and responsive to unique needs if the destination and tourism sector.
These special district privileges give overall upliftment of Universal Orlando Resort and its elected destination with the means to develop and maintain a world-class entertainment destination to the world. However, it is considered one of the top tourist destinations in the world. Keep in mind that infrastructure improvements, attracting investments, increasing tourism, and providing ongoing services to create an exceptional guest experience are the primary goals of the Special District.
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