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DISNEY ORGANIZATION TARGETS AFFORDABLE HOUSING WITH $13 MILLION INVESTMENT

 DISNEY ORGANIZATION TARGETS AFFORDABLE HOUSING
 WITH $13 MILLION INVESTMENT
 LAKE BUENA VISTA, Fla., Feb. 13 /PRNewswire/ -- The Disney organization has broken ground at sites in Orange and Osceola counties to build affordable housing in partnership with Central Florida developer CED Construction, Inc.
 Disney has purchased $13 million in affordable-housing tax credits as investment toward constructing two apartment-home complexes offering a total of 464 units in areas identified as preferable to many Walt Disney World employees. Completion by CED Construction, Inc. is scheduled for September 1992. The apartments will not be limited to Disney employees.
 "The affordable-housing tax credit program provides opportunities for major employers like Disney to realize a return on our investment while providing affordable housing for our community," said Walt Disney Attractions Chairman Dick Nunis.
 Reef Club Apartments in Kissimmee, and Country Garden Apartments of Winter Garden will offer one-, two-, and three-bedroom units with numerous amenities.
 Next week Disney will unveil a 14-minute educational video the state will use to inform developers and employers about housing programs and affordable housing incentives.
 -0- 2/13/92
 /NOTE TO EDITOR: For information on income requirements and rental rates, call CED Construction at 407-660-1110./
 /CONTACT: Walt Disney World Press & Publicity Department, 407-824-4531/ CO: Walt Disney World; CED Construction, Inc. ST: Florida IN: LEI CST SU:


AW-SS -- FL003 -- 9692 02/13/92 11:19 EST
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Publication:PR Newswire
Date:Feb 13, 1992
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