Florida’s tourism oversight district gave initial approval Wednesday to a proposed $17 billion Walt Disney World development plan, opening the door to a potential fifth theme park.

The Central Florida Tourism Oversight District’s board voted unanimously for the 15-year agreement, which outlines how Disney World will grow in the future. It will need a final vote on June 12 to take effect.

“The development agreement will enable us to continue to invest significantly in the district,” said Woody Rodriguez, director of external affairs for Disney Parks, Experiences and Products.

Disney officials haven’t provided specifics on what is in the works, but the company says in the proposal it will invest up to $17 billion over the next 10 to 20 years. The agreement includes a commitment of $8 billion during the first 10 years.

District officials are committing to fund road and other infrastructure projects to support the new development.

In the deal, Disney also agrees to provide $10 million for affordable housing projects and a “buy local initiative” with at least half of construction goods and services going to Florida businesses.

The agreement covers about 17,300 acres owned by Disney, according to a legal announcement. It authorizes a maximum of five major theme parks, one more than Disney operates in Central Florida now.

Company officials have not announced a fifth theme park, although industry insiders are speculating they could with Universal Orlando’s Epic Universe opening next year.

The agreement also allows a maximum of five minor theme parks, such as a water park, nearly 1.3 million square feet of office space, 1.7 million square feet of restaurant/retail space and 53,467 hotel rooms.

The proposal marks a new chapter in the relationship between Disney and Gov. Ron DeSantis. A Disney-DeSantis feud erupted in 2022 over the company’s opposition to what critics called the “don’t say gay” bill, which limited classroom instruction on sexual orientation and gender identity.

The dispute then entered the courts with lawsuits filed over who would control the Reedy Creek Improvement District, which oversees roads and other government services for Disney World.

In February 2023, DeSantis sacked the district board’s five Disney loyalists and replaced them with his political allies. Lawmakers renamed Reedy Creek the Central Florida Tourism Oversight District.

In March, Disney and the DeSantis-appointed district board settled a lawsuit in state court over development agreements. A federal lawsuit filed by Disney is still pending, but district officials plan to discuss that suit on June 12.

“We’re heading toward a brand new day, and I think we’re all very excited about where this is going for the employees and residents of the district and business people and really just for the people of Central Florida,” said Charbel Barakat, acting chairman of the Central Florida Tourism Oversight District’s board.