02 Jul Jupiter extends deadline for Harbourside Jupiter Project
The U.S. Immigration Fund got a bit of breathing room from the town of Jupiter, Florida, which voted to extend a deadline in order to allow the U.S. Department of Homeland Security to finalize the certification of the EB-5 regional center.
Jupiter’s town council voted 3-0 to extend the deadline requiring the U.S. Immigration Fund to verify that it has financing in place for the Harbourside Jupiter project from June 1 to October 15, reports the Palm Beach Post.
The current plan in place is for the U.S. Immigration Fund to purchase the First Union Bank property from the town for $2.5 million. The Harbourside Jupiter project includes a hotel, office and retail space and a parking garage, and is planned to go up at the site.
The U.S. Immigration Fund is an EB-5 regional center that participates in the EB-5 visa program, which allows foreign national to become eligible for U.S. green cards if they invest $1 million in an American business and that investment leads to the creation of 10 jobs. Regional centers help direct and manage the investments and some are designated Targeted Employment Areas, like the U.S. Immigration Fund, and only require a $500,000 investment.