Based on a sketch included, it appears the meet-and-greet location might be moving from the queue area to the right of the Carousel of Progress entrance (see above photo) to the old entrance to the now demolished Galaxy Palace Theater, though the notice did not specifically indicate the meet-and-greet area was moving.
If the Buzz Lightyear meet-and-greet area is moving, it would be a welcome improvement to that part of Tomorrowland. The current meet-and-greet area has just a simple battery-shaped stand where Buzz stamps autograph books. There is no themed background or other sort of theming around. Of course, this same area also is the meet-and-greet location for Stitch, so I can understand why Disney didn't want to add much theming to the area.
So far, no schedule or timetable has been announced for this project.