07 Apr Letter of Support from Finance Director Town of Jupiter Michael Villella
U.S. Citizenship and Immigration Services
California Service Center
Attention: EB-5 Regional Center Proposal
24000 Avila Road, 2nd Floor
Laguna Niguel, California 92677
This letter is submitted in support of Nicholas A. Mastrioianni, II and his application for the U.S. Immigration Fund, Inc. (USIF) to be designated by the USCIS as a government-approved regional center. Additionally, because the USIF is ready to move forward on its first project, known as “Harbourside Place,” this letter also constitutes my endorsement of that project.
Mr. Mastroianni is a recognized veteran in the real estate development industry and possesses significant experience in both commercial and residential development. Mr. Mastroianni’s knowledge and expertise is backed up by his history of producing numerous successful projects. Mr. Mastroianni consistently draws in a team of the industry’s top architects, planners, and contractors assuring success at the highest standards and has assembled a highly qualified team for completion of the Harbourside Place project.
As the Finance Director for the Town of Jupiter, I am enthusiastic about the potential positive financial impact that Harbourside Place will have on the Town of Jupiter. The Harbourside Place project should become a centralized place where our residents and visitors may go to enjoy the Intracoastal and all the beauty that our inland waterways offer to our community. Harbourside Place will certainly enhance access to the waterfront and is expected to be a marquee destination for residents and visitors alike. Harbourside Place is destined to be a popular destination where people may leisurely walk along the Intracoastal and enjoy shopping, experience casual to exquisite dining, and have both water and land access to a gorgeous marina. Not to mention the project’s four-star hotel will attract businesses seeking to use the hotel’s elaborate conference and ballroom facilities. In addition, Harbourside Place should entice visitors to seek out Jupiter as a vacation destination location.
The Town of Jupiter has worked closely with Mr. Mastroianni in guiding the development of the Harbourside Place project. The Town council has passed a Resolution approving the formation of a CDD (community development district). Formation of the CDD is the initial step in making available the opportunity for the sale of tax-free municipal bonds for construction of the project’s public use infrastructure. The project is also in final negotiations with the CRA (Community Redevelopment Agency) for TIF Financing (Tax Incremental Financing) valued at approximately $5,250,000 to be realized annually through property tax rebates of $350,000 for the duration of 15 years. The term quasi-public/private partnership has been used to define the relationship being formed between the Town and Harbourside Place. In support of this developing relationship, the Town has applied and been granted from the State agency F.I.N.D. (Florida Inland Navigation District), $1,985,000 for the development of the Town’s Riverwalk and public dock facility that will be an integral part of Harbourside Place.
After having reviewed the site plans, participated in multiple meetings with the development team, including the contractor, planners, lawyers, and marketing firms, Harbourside Place will undoubtedly serve to promote our economic growth, improve regional productivity, and is projected to create no less than 2,000 new permanent jobs within the Region as indicated by the Economic Impact Report that has been filed with this regional center application.
With all of this being said, I strongly recommend approval of the U.S. Immigration Fund by your agency.
Please feel free to contact me personally at (561) 741-2218 or email at [email protected]
Thank you for your advanced consideration of this matter.
Michael Villella, CPA
Town of Jupiter
April 7, 2010