Walt Disney flew over a potential site in Orlando, Florida—one of many—in November 1963. After witnessing the well-developed network of roads and taking the planned construction of both Interstate 4 and Florida's Turnpike into account, with McCoy Air Force Base (later Orlando International Airport) to the east, Disney selected a centrally-located site near Bay Lake. To avoid a burst of land speculation, Walt Disney World Company used various dummy corporations to acquire 30,500 acres (48 sq mi; 123 km2) of land. In May 1965, some of these major land transactions were recorded a few miles southwest of Orlando in Osceola County. In addition, two large tracts totaling $1. 5 million were sold, and smaller tracts of flatlands and cattle pastures were purchased by exotically-named companies such as the "Ayefour Corporation", "Latin-American Development and Management Corporation" and the "Reedy Creek Ranch Corporation". Some are now memorialized on a window above Main Street, U. S. A. in Magic Kingdom. The smaller parcels of land acquired were called "outs". They were five-acre (2 ha) lots platted in 1912 by the Munger Land Company and sold to investors. Most of the owners in the 1960s were happy to get rid of the land, which was mostly swamp at the time. Another issue was the mineral rights to the land, which were owned by Tufts University. Without the transfer of these rights, Tufts could come in at any time and demand the removal of buildings to obtain minerals. Eventually, Disney's team negotiated a deal with Tufts to buy the mineral rights for $15,000.
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