Florida Regional Center – Harbourside Place Details

Harbourside Place – The EB-5 Investment in Florida.

The Florida Regional Center (―FRC‖) is pleased to announce its first project located in the Town of Jupiter, Florida. Partnered with the Town and the State this project will be the Town’s downtown – the $144 million Town Center and four-star Westin Resort and Spa. This project combines funding by the government of Jupiter, the Town’s Community Redevelopment Agency (―CRA‖) and $80 million (160 investors) of EB-5 funding. The Florida Inland Navigation District (―FIND‖) and the Northern Riverwalk Community Development District (―NRCDD‖) are also contributing money to the project through grants and municipal bonds. The funding breakdown for the project is on the following page.

A. INTRODUCTION

Harbourside Funding, LP is a Florida Limited Partnership formed in April 2010 for the sole purpose of lending development funds to Harbourside Place, LLC, a soon to be built town center project in Jupiter, Florida. The project is located in the proposed Florida Regional Center District and will meet the standards of USCIS to be financed under USCIS EB-5 Pilot Program.

Harbourside Funding, LP will be capably managed by Harbourside Funding GP, LLC, the General Partner. The managing member of Harbourside GP, LLC is Jupiter Capital Partners, LLC. It will be the General Partner’s responsibility to receive investor funds and re-direct those funds into the Harbourside Place Project via a loan. Other responsibilities of the General Partner will include managing the process of disbursement of funds and to assure investors and USCIS officials that the funds are going directly to the project and that the project is being built according to the approved development budget. Finally, the General Partner will also monitor the payment of interest and the overall administration of the loan.

Harbourside Place, LLC is a newly formed limited liability company organized in the State of Florida, formed in March 2010. It lies within the proposed Florida Regional Center District located in Palm Beach County, Florida.

The purpose of the enterprise is to construct a Town Center project located in the Town of Jupiter Florida. The project will be constructed on 9.97 acres of waterfront property within the Town of Jupiter’s 2.5 mile Riverwalk project. It will be comprised of a four-star hotel, offices, restaurants, retail shops, a marina, spa, and an amphitheater, as well as a large parking garage. Overall gross development is approximately 800,000 square feet.

This quasi-public/private partnership between the Town of Jupiter and Harbourside Place, LLC is being created to fill a large void existing in the immediate and long range growth of Jupiter. It will serve to promote economic growth, improve regional productivity, create jobs, and overall, it will increase capital investment into the Town. Furthermore, Harbourside Place will be located in an area designated by the State of Florida as a ―TEA‖ or targeted employment area.

The funding breakdown of the project is as follows:

 EB-5 Investor Loan Proceeds $80,000,000  Equity $38,315,000  Bank Debt $25,685,000 Total $144,000,000

Also, the project has received, from the Town of Jupiter, Tax Incremental Financing (TIF) valued at $5,250,000 to be paid out in annual installments of $350,000 for the duration of 15 years. The need for a project like Harbourside Place in the community of Jupiter is clearly established, as evidenced by the governmental financial support from the State of Florida and the Town of Jupiter.

B. HISTORY OF PROPERTY - (TOWN CENTER)

The current owner of the property is Jupiter Waterways, LLC. It was acquired by three partners; Jack Schleifer, Richard Yellen and Nicholas Mastroianni, II. The property was acquired by Jupiter Waterways, LLC in 2006. The total cost of the land was $19,500,000.

The original developer of the property was Allied Capital and Development of South Florida, LLC who was hired by Jupiter Waterways to develop the site. The company was founded by Nicholas A. Mastroianni II in 2004 with the vision of providing residential and commercial projects that meet the needs of the community as well as serve to promote the growth of the local economy.

Jupiter Waterways, LLC currently owns the 9.97 acre tract of waterfront property that is located in the Town of Jupiter, Florida at the northeast quadrant of Indiantown Road and US Highway One. The property is fully entitled to

Jupiter Waterways, LLC has entered into a contract to sell the site to Harbourside Place, LLC, an entity owned by the same principals of the seller. The selling price is $31,500,000. The purchase calls for an approximate cash payment of $22,500,000 at time of release of the initial EB-5 funds in March 2011. Title to the property will then be secured free and clear to Harbourside Place, LLC. The balance owed of approximately $9,000,000 will be evidenced by a promissory note and payable in two equal annual installments on the first and second anniversary of the closing. Interest will accrue at 4% per annum.

C. THE TOWN CENTER

The Town Center will consist of a four-star hotel, offices, restaurants, retail, marina, amphitheatre and spa. Situated on the Intracoastal Waterway, the Town Center will be the centerpiece of the ongoing Jupiter Riverwalk project, a 2.5 mile waterfront promenade connecting a series of ―entertainment/retail‖ and residential complexes along a lengthy pedestrian waterfront walk-way. It is a quasi-public/private venture that has been fully endorsed and financially supported by the Town of Jupiter.

The site of the Town Center is the largest remaining assemblage of property along the waterfront in the heart of Jupiter. The property, which is located at the corner of US Highway One and Indiantown Road, is one of the most traveled intersections in Jupiter, enabling great signage, visibility and ease of access. The property is located just south of the Jupiter Inlet which is the main throughway for accessing the ocean from the Intracoastal. The location is excellent given its proximity to all other points of interest in Jupiter, including movie theaters, the lighthouse at the Jupiter Inlet, world-renown beaches, Carlin Park Civic Center, grocery stores, indoor and outdoor shopping malls, and beautiful office parks. These factors all point towards Harbourside Place being developed into one of the most successful and noteworthy projects currently planned in South Florida. Upon completion, it is expected to bring a total of approximately 2,000 new direct, indirect and induced jobs to the area.

As mentioned, the Town of Jupiter and other State Governmental agencies have all politically and financially endorsed the construction. For instance, the Town Center has received a $2,000,000 grant from the Florida Inland Navigation District (FIND), a state issued grant to assist in building the seawall, docks and Riverwalk along the entire Intracoastal side. The town council and mayor have been strong supporters and believe it to be a good example of a quasi-public/private partnership with the developer and the Town.

“For the success of Riverwalk and the commercial district, we need the entertainment intensity of this project,” said Jupiter Mayor Karen Golonka. “This project gives us hope; it means somebody is willing to put money into the area.”

“Harbourside will become a major destination along the town’s Riverwalk; we view this as integral to the success of the Riverwalk.”

The Town has approved the project for Tax Increment Financing (TIF) through the Community Redevelopment Agency (CRA) in the amount of $350,000 a year for the duration of 15 years.

“I really see the public benefit of this project,” said Jupiter Vice Mayor Todd Wodraska. “It is a deliverance of a huge connection to the Riverwalk and it would be lining the coffers of the CRA.”

With the Town’s assistance, the Town Center received approval to form the Northern Riverwalk Community Development District (CDD). This makes the Town Center its own ―taxing district‖ and hence it has the ability to levy taxes and issue approximately $22,000,000 in bonds to finance a portion of the costs for the project’s infrastructure.

According to the officials, the Town Center will finally provide the Town of Jupiter with a sense of identity. It will provide a center to the Town or, in essence, it will become the Town’s ―downtown‖. Being the center point of the Town’s 2.5 mile Riverwalk project, the Town Center will provide the community and its citizens a place to work, and more importantly, a place where they can take their families in the evenings, weekends, and holidays to

“For the past ten years I have been waiting for a project like Harbourside. I am tired of having the business of Jupiter being conducted in other cities.”

a. DESCRIPTION OF THE SOON TO BE CONSTRUCTED TOWN CENTER

SHOPPING DINING ENTERTAINMENT MARINA HOTEL

Location  200 US Highway One, Jupiter, FL

Land  9.97 Acres (434,450 gross S.F.)  10,894 S.F. Submerged Land  1,045 feet of frontage on east side of Intracoastal Waterway

Building  5 Buildings up to 5 stories in height

Approved Entitlements  Mixed-Use Planned Unit Development (PUD) Approved December 2, 2008 o 112,840 S.F. – Four-Star Hotel (178 Keys); Current bids for the flag are from the Hyatt Regency and Westin hotels. o 34, 855 S.F. – Restaurant o 55,256 S.F. – Retail o 58,791 S.F. – Office o 2,500 S.F. – Cultural Use o 31 Slips – Marina (22 Private; 9 Transient) o 929 Space Parking Garage

Approved Governmental Funding Sources o CDD (Northern Riverwalk Community Development District) Approved May 15, 2009 . Ability to issue upwards of $22,000,000 in bonds to finance a portion of the costs for infrastructure. o TIF Agreement (Tax Incremental Financing) Approved . Tax payments to the project of $350,000 for a duration of 15 years totaling $5,250,000. o FIND grant (Florida Inland Navigation District) Approved October 1, 2009 . State grant to assist in building the seawall, docks and Riverwalk along the entire Intracoastal side of the project approximating $2,000,000.

D. DEVELOPMENT TEAM

ALLIED CAPITAL AND DEVELOPMENT OF SOUTH FLORIDA, LLC (ORIGINAL & CURRENT LEAD DEVELOPER)

Allied Capital and Development specializes in developing and building commercial and residential real estate with the highest standards of quality and construction. Led by 25 year industry veteran Nicholas Mastroianni II, the firm’s extraordinary vision for building the right projects in the ideal locations has resulted in a stellar record of success since 1984. Headquartered in Palm Beach Gardens, Florida, Allied brings extensive experience, proven knowledge and outstanding personal service to every project. Partnering with the industry’s top architects, planners and contractors, the firm is renowned for developing exceptional properties that complement their communities. Working seamlessly with government agencies for planning approvals, the firm streamlines the entire construction process and demonstrates its environmental responsibility by incorporating green building practices into every facet of development. Established on the principles of integrity, excellence and quality, these values continue to form the foundation of all Allied properties as the company moves forward and builds for generations to come.

Nicholas A Mastroianni, Manager of Allied Capital and Development of South Florida, LLC, and the head of the organization, has negotiated the purchase of thousands of acres of property and has led the design of several projects, both residential and commercial. The projects include single-family subdivisions, multi-family townhomes, multistory condominiums, apartment complexes and mixed-use retail and commercial sites. Mr. Mastroianni works

This document constitutes confidential and trade secret information compiled by Florida Regional Center, LLC (―FRC‖). The enclosed information concerning FRC is protected from disclosure by law. By reviewing this document, recipients are acknowledging confidentiality and are accepting the obligation not to disclose, directly or indirectly, or permit their agents or affiliates to disclose any of such information, and shall not use the information for any purpose whether beneficial or adverse to the interests of FRC, without FRC’s prior written consent. This business description is not to be copied or duplicated without the prior written consent of FRC. 5 closely with his staff to bid all aspects of the project as well as schedule every stage of the construction process. Mr. Mastroianni has been recognized for his commitment to excellence in construction by the Association of Builders and Contractors (ABC), and was awarded the prestigious Excellence in Construction Award in 1998. Mr. Mastroianni served as Executive Vice President of the Rhode Island Chapter of the ABC and has been a member of the Association of General Contractors. He is active in charitable organizations and formed Charities for Children with Cancer (CCC), to which he has personally donated. Through his efforts, donations have been made to the St. Jude Foundation and the Make-a-Wish Foundation. Mr. Mastroianni has hosted numerous charitable events with both prominent sports figures and political constituents to benefit these organizations. His business memberships include the Association of General Contractors, the Association of Builders and Contractors, and the Police Athletic League.

Allied Capital and Development of South Florida, LLC Nicholas A Mastroianni, II, Managing Member 11770 US Highway One, Suite 301 Palm Beach Gardens, Florida 33408 (561) 799-0050

MOSS AND ASSOCIATES (GENERAL CONTRACTOR)

Moss, a privately held construction company, is ranked among the nation’s top 100 building contractors and 7th largest in the State of Florida with annual revenues topping $650 million. For more than two decades of collaboration, Moss’ principals have forged a strong record and reputation for delivering technically and logistically challenging projects. Their diverse portfolio spreads across the construction marketplace.

With more than 160 employees, Moss is well positioned to serve its customer base throughout the region and deliver on its promises and expectations. Their solid relationships, positive track record for delivering projects on time and in budget, and financial stability provide them with bonding capacities that exceed $750 million.

Moss has extensive experience in developing the following types of properties:

 Major landmark mixed-use developments and luxury high-rise residential facilities  Hotels, resorts, casinos, and entertainment venues  Commercial office buildings  Government centers  Educational facilities  Healthcare centers  Biomedical and life science complexes  Retail structures  Criminal justice and correctional facilities

Moss has a commitment to preserving the environment. They invest heavily in LEED training for their executives, preconstruction teams, and onsite operations teams. Their current staff includes 32 LEED Accredited Professionals and several others who are working toward accreditation from the U.S. Green Building Council.

Recognized locally as a leader in LEED management, Moss has either completed or has under contract approximately $330 million of energy-efficient, or ―green‖ designated, projects in Florida.

Moss has a strong commitment to safety. Their Experience Modification Rating (EMR)—consistently lower than the construction industry average—makes them a safety leader in the construction industry.

Moss has received seven of the nine prestigious National Safety Awards distributed by Liberty Mutual Insurance Group over the past 3 years.

Moss believes in giving back to the community. Their community partners are organizations that share similar values, including United Way, March of Dimes, Give Kids the World, Cystic Fibrosis Foundation, American Red Cross, and Boys and Girls Club of America.

Moss & Associates, LLC Bob Moss, Managing Member 2101 N. Andrews Avenue, Suite 300 Fort Lauderdale, Florida 33311 (954) 524-5678

STH ARCHITECTURAL GROUP, A LEO DALY COMPANY (ARCHITECT)

LEO A DALY is an internationally renowned planning, architecture, engineering, interior design, and program management firm. The company’s portfolio includes award-winning projects in over 69 countries, all 50 states and the District of Columbia. In 2009, LEO A DALY acquired STH Architectural Group, and expanded their Florida offices to include West Palm Beach and Tampa. STH brought 40 years of experience in the commercial and retail, education, science and technology, religious and high-rise residential markets to LEO A DALY who consistently ranks in the top 10 architecture / engineering firms in the U.S.

Established in 1915, LEO A DALY currently employs more than 1,100 architects, planners, engineers and interior designers worldwide. Notable local and international projects include:

 The National World War II Memorial, Washington, D.C.  Cheung Kong Center, Hong Kong, SAR  Disney Vacation Club Resort, Vero Beach  Miami International Airport, Miami

STH Architectural Group, Inc. Paul Twitty, Vice President 1400 Centrepark Boulevard, Suite 500 West Palm Beach, Florida 33401 (561) 688-2111

E. LOCATION

a. Town of Jupiter

Located on the east coast of Florida, in the northern-most area of Palm Beach County, Jupiter is considered to be one of the most affluent places with the fastest growing population of year-round and seasonal residents, primarily from the northeast and mid-western United States. Its current population is 48,879, a 24.3% increase since 2000.

Jupiter is located in North Palm Beach County

15 Minutes North of West Palm Beach

20 Minutes North of Palm Beach International Airport

1 Hour North of Miami

2 Hours South of Disney World

In addition to the traditional ―quality of life‖ attractions of Jupiter, the Town is also on the rise due to a diversifying local economy. In 2004, The Scripps Research Institute announced its first expansion from San Diego, California to be known as Scripps Florida and located in Jupiter, Florida. Scripps is one of the country’s largest, private, non- profit research organizations and is considered one of the world’s leaders in biomedical research. The arrival of Scripps in Jupiter has tremendous potential to be an enormous economic catalyst for Northern Palm Beach County, bringing new high-paying jobs for scientists, venture capitalists and other economic spin-off effects (i.e. real estate and hospitality industries). The local real estate market is also benefited by high barriers to entry. The Town of Jupiter is very focused on controlled growth and proactively imposes strict zoning and approval regulations, thus

Jupiter Area Beaches:

This area has some of the best beaches in South Florida! Our beach is not commercialized. Parking is free and so is access to the beach. You can walk the beach for miles without being in the shadows of high rise condos. Contrary to many other places in South Florida, our beach is lined with tropical landscaping, sand dunes, palm trees, and protected sea turtle nests.

and you don’t have to live right on the ocean to be close to our exceptional beaches. Most of the condos, town homes, and single family neighborhoods are only a few minutes away by foot, bike, or car. Many of the beaches in this area are Dog Friendly Beaches, and ALL are Family Friendly too.

Boating in North Palm Beach and Martin County:

Florida has over 8,000 miles of coastline and 4,500 square miles of inland waterways, making it a paradise for boaters. From mega-yachts to wooden skiffs, having a boat is as normal as having a car for some Floridians. There are over 700,000 registered boats in the state, the 3rd highest rate in the country.

If you are a boater, or if you’d like to be a boater, Jupiter is an excellent location for you. The Intracoastal Waterway is a natural but dredged channel that extends 500 miles down the east coast of Florida to the tip of the Keys. It's a very popular boating route that runs through rivers, creeks and dredged canals. It is maintained by the Florida Inland Navigation District.

The Jupiter Inlet allows you quick access to the ocean, or you can cruise the Intracoastal Waterway North to Jupiter Island, or South to Singer Island. Along the way there are several restaurants and bars that welcome their patrons arriving by boat. Travel inland and the Loxahatchee River meanders its way through Jupiter and Tequesta. Hundreds of canals allow residents of Jupiter ocean access from their very own private boat dock. If you’d rather have someone else watch over your boat, there are several marinas in this area.

Jupiter is in the Heart of “Florida’s Golf Capital”:

One of the world's premier golf destinations, Palm Beach County is home to more than 160 courses. Perhaps the hardest decision is which course to play on what day, in what is acknowledged as "Florida's Golf Capital". Lavish world-renowned resorts feature demanding courses and golf pros that are excellent teachers, or have academies and instruction on site. Visitors are always welcome at dozens of public and semi-private courses from Boca Raton to Jupiter.

Shopping and Restaurants:

From locally owned unique boutiques, to shop until you drop malls; Jupiter has an abundance of shopping. The Gardens Mall is only a few miles away with major retailers such as Macy’s, Saks Fifth Avenue, Bloomindales, Sears, and Nordstrom's! Downtown at the Gardens is North Palm Beach County's version of City Place in West Palm Beach. There is a lot to see and do including movies, outdoor cafes, shopping, spas and salons, and dining.

The majority of restaurants in Jupiter are locally owned. Jupiter has its share of national chains like Chili’s, Outback, and Applebee’s, but most are owned by local residents. The Town has it all – steakhouses, seafood, Italian, sushi, German, delis, you name it!

Recreational Activities for Everyone:

The Jupiter, Tequesta, Juno Beach area offers plenty of opportunities to enjoy outdoor recreation. Area parks provide a wide range of services and facilities for outdoor activities including dozens of playgrounds. One can relax on guarded, white sandy beaches, play softball or baseball at one of the many lighted diamonds, pick up a game of basketball, enjoy tennis with your favorite partner or take a scenic hike on one of the heart trails in Carlin Park. Ride your bike along miles and miles of bike paths in Jupiter. Cruise along A1A, take a break at the Inlet and watch the boats go by, or stop for some ice cream or a cold drink at any number of restaurants and cafes.

Kayak along the Loxahatchee River into Jonathan Dickinson State Park.

Roger Dean Stadium (www.rogerdeanstadium.com) in Abacoa is home to Spring Training for the St. Louis Cardinals and the Florida Marlins. During the summer, the Jupiter Hammerheads (affiliate of the Marlins) make this stadium their home.

The North County Aquatic Complex has programs and facilities for swimming instruction, competition and just plain relaxing. Each park has unique facilities, designed to make family outings a pleasure. Jupiter has plenty of public pools and spas simply for enjoyment and pleasure!

F. ECONOMIC IMPACT STUDY OF CONSTRUCTING AND OPERATING THE HARBOURSIDE FUNDING, LP, TO BE PART OF THE FLORIDA REGIONAL CENTER IN PALM BEACH COUNTY, FL

Dr. Michael K. Evans was engaged to do an economic impact analysis for the Harbourside Funding, LP’s Town Center project. The purpose of the report was essentially to determine the economic benefits of the Town Center within the community of Jupiter and the proposed Florida Regional Center District. The study measured the economic impact in terms of:

I. Job Creation II. Household Income III. Demand for Business Service IV. Demand for Utility Services V. Maintenance and Repair Construction VI. New Supplier/Vendor Relationships Created with Manufacturers

The methodology used by Dr. Evans is the IMPLAN model to calculate job creation for each category of economic activity. This model has been successfully used by Dr. Evans in over 50 studies and has been approved in many earlier applications by USCIS and is one of the two recognized models (the other is RIMS) that are generally used in these applications. The average multiplier used in the analysis was 2.10x. The referenced impact analysis reported the following findings:

 The main components of the project will be 34,855 square feet of restaurant space, 55,256 square feet of retail space, 58,791 square feet of office space, and a luxury hotel with 178 keys. There will also be a spa, marina, amphitheater, and parking garages.

 The hard construction costs for the project are estimated at $74,425,472. Even though the project will take more than two years to complete, most of the construction jobs are considered temporary and not included in the EB-5 job count. However, there will be 312 indirect and induced jobs created from construction activity. In addition, there will be 123 permanent direct jobs, 107 indirect jobs, and 99 induced jobs, for a total of 329 total jobs generated by administrative and supervisory positions.

 Approximately 134 direct jobs will be created by operating the hotel. That would generate 41 indirect and 46 induced jobs, for a total of 221 permanent new jobs for that sector of the project.

 Approximately 407 direct jobs will be created by operating the restaurants and retail stores. That would generate 58 indirect and 85 induced jobs, for a total of 550 permanent new jobs for that sector of the project.

 Approximately 220 direct jobs will be created by operations within the office building. That would generate 112 indirect and 142 induced jobs, for a total of 474 permanent new jobs for that sector of the project.

 The remaining services, including the spa, marina, amphitheater, and attended parking garages, will create approximately 70 direct jobs, which in turn will generate 25 indirect and 19 induced jobs, for a total of 114 permanent new jobs for that sector of the project.

 When all these components of the Town Center are combined, there will be an estimated increase of 954 direct jobs, 478 indirect jobs, and 568 induced jobs, for a total of 2,000 permanent new jobs. There will also be a total annual increase of $269 million in output and $101 million in labor (household) income, both in 2010 dollars.

 ―The labor force to support the Harbourside Funding, LP project is drawn from Palm Beach County in Florida‖. Specifically, Census Tracts 3.01, 3.03, 3.04, 4.04, 8.01, 9.02, 9.03, 11.01, 12, 13.01, 13.02, 14.02, 14.03, 14.04, 15, 16, 18.01, 21, 22, 23.

o Job Creation

Direct New Jobs 954 Indirect New Jobs 478 Induced Jobs 568

Total New Jobs 2,000

 The types of jobs that will be created will come from the operation of the hotel, restaurant, retail store, office, marina and parking.

 The results in the subsequent Table A represent the summary statistics for each of the individual components of the Harbourside Funding, LP Project, together with the multipliers for each phase of the project as well as the total impact.

Please note the totals in this and all other tables in this report may not sum exactly because figures are rounded to the nearest whole number.

Table A. Summary of Employment, Output, and Labor Income Multipliers

Employment

Component Direct Indirect Induced Total Multiplier

Construction 134 178 312 Admin/Supervisor 123 107 99 329 2.67 Hotel 134 41 46 221 1.66 Retail/Restaurant 407 58 85 550 1.35 Office 220 112 142 474 2.15 Other Functions 70 25 19 114 1.63 Total 954 478 568 2000 2.10

Output $000s

Construction 21646 23723 45369 Admin/Supervisor 32384 13467 13143 58994 1.82 Hotel 16085 5709 6136 27930 1.74 Retail/Restaurant 28078 8865 11313 48257 1.72 Office 40273 16485 18836 75595 1.88 Other Functions 7484 3215 2474 13173 1.76 Total 124304 69386 75626 269316 2.17

Labor Income $000s

Construction 8264 8208 16472 Admin/Supervisor 11427 5542 4552 21521 1.88 Hotel 5714 2172 2126 10012 1.75 Retail/Restaurant 11477 3090 3920 18487 1.61 Office 17973 6338 6524 30835 1.72 Other Functions 1977 1212 857 4046 2.05 Total 48568 26619 26188 101374 2.09

a. Job Analysis for I-829

The Town Center is a construction project expected to take approximately two years to construct and to open. In consideration of estimating the need to maintain a certain level of jobs for I-829 purposes, an analysis (see next page) was prepared to make sure that enough jobs are available at the time an I-829 is filed. In preparing the analysis, it was assumed that the first immigrant investor funds would start to come into the project in October 2010. Also, it was assumed that the first I-829 would be filed 30 months later. The project would be finished and open for business on or before October 2012.

Utilizing these assumptions, a summary of these assumptions is as follows:

Year 2010 2011 2012 2013 2014 2015 Totals

# of Months 3 12 9 n/a n/a n/a 24

Average # of Investors/month 6 11 1 n/a n/a n/a 6 Total # of Investors/year 18 132 12 n/a n/a n/a 162

Jobs Required Construction 312 n/a n/a n/a 312 Admin/Supervisor 180 149 n/a n/a 329 Hotel 221 n/a n/a 221 Restaurant/Retail 425 n/a n/a 425 Office 200 n/a n/a 200 Parking/Maintenance 114 n/a n/a 114

Total Jobs 492 1109 n/a n/a 1601

Jobs Created Construction 312 n/a n/a 312 Admin/Supervisor 329 n/a n/a 329 Hotel 221 n/a n/a 221 Restaurant/Retail 550 n/a n/a 550 Office 474 n/a n/a 474 Parking/Maintenance 114 n/a n/a 114

Total Jobs 2000 n/a n/a 2000 Surplus Jobs 399+

b. Conclusion

Filing dates are 30 months following I-526 approvals.

Filing Dates 4/2013 2014 2015 2016 Totals

Estimated Eligible Investors 18 132 10 0 160 Required # of Jobs 180 1320 100 0 1600

Estimated Jobs Created 2000 1820 500 400 2000 Approx. Surplus of Jobs 1820 500 400 400 400

The Town Center will be in full operation on or before October 2012. From the above analysis, it is clearly indicated that the immigrant investors after the 30-month waiting period, can expect to have sufficient job creation to allow their ―conditional‖ green card to be converted to a ―permanent‖ green card.

G. SUMMARY AND CONCLUSION

 The Harbourside Funding, LP project promotes job creation. From the economic impact analysis contained in this business plan it is clear that the project will generate 2,000 jobs; furthermore, based on the amount of EB-5 investment, it appears that the project will generate a surplus of 399 jobs.

 The Harbourside Funding, LP’s defined geographic area has been certified by the State of Florida’s Agency for Workforce Innovation to be in a Targeted Employment Area (TEA).

 The economic impacts of the Project as measured by household earnings demand for business services, utilities, maintenance and repair, and new supplier and vendor relationships are $212,433,000.

 The project is considered a quasi-public venture involving the developer, the Town of Jupiter and in some respects the State of Florida as evidenced through near unanimous approval of entitlements and financial support received from State grants, CDD Bonds and Tax Incremental Financing proceeds.

 Harbourside Funding, LP is a project that the Town of Jupiter has strived towards achieving for nearly ten years. It underscores the Town’s need for a place for its citizens to congregate and to be the Town’s ―Center‖ of activity. This project will give the Town of Jupiter an identity and make it a destination. The Town Center will be the Town of Jupiter’s, much needed, ―downtown.‖

 The proposed four star hotel anchor tenant (Westin) will fill a void and provide the Town with the ability to attract business clientele by providing meeting space and conventions. Westin Hotels have extremely strong reservation systems worldwide that greatly assist in attracting a wide range of customers.

In closing, it is clear that the Town Center, to be constructed in Jupiter, Florida, strongly promotes economic growth, improves regional productivity, creates a significant level of jobs and it will attract increased domestic and foreign capital into the area it serves.