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The potential for up to $350,000 in annual public financing for up to 15 years was recently approved for the $150 million Harbourside marina/restaurant/hotel project that the developer says could create 2,000 jobs, the Palm Beach Post reports.

"This is a big step. Without the town's support, getting financing would be tougher," said Nick Mastroianni, managing partner in Palm Beach Gardens-based Allied Capital & Development, the developers of Harbourside.

Jupiter's Community Redevelopment Agency approved the public financing in a 4-1 vote, with Commissioner Jim Kuretski dissenting, according to the news provider.

Approved two years ago, Harbourside is a 9-acre waterfront project that could potentially generate approximately $800,000 a year in property taxes. The proposed plans include a marina, parking garages, retail stores and a public amphitheater, town records indicate.

The property is located at the northwest corner of U.S. 1 and Indiantown Road at the site of the Burt Reynolds & Friends Museum. The future of the museum has not yet been determined, but one proposal calls for it to be located within Harbourside, according to the news source.

After the debate over the public financing, the Community Redevelopment Agency decided to allow Town Manager Andy Lukasik to decide whether or not to use tax revenue to pay approximately $3,200 for a January 5 trip to China by the town's director of finance, Mike Villella. Villella would be joined by Mastroianni for the two-week trip designed to promote the project.

During the trip, the two are expected to promote foreign investment through the federal EB-5 visa program. Through this program, foreign nationals can obtain U.S. green card eligibility by making an investment of $1 million (or in some cases $500,000) in an American project or company that either creates or maintains at least 10 full-time jobs.

Of the 4,218 visas issued through the program during fiscal 2009, 1,979 were issued to investors from China, giving the country the highest number of successful EB-5 investors for that year.

Lukasik previously stated that the trip is important to demonstrate to potential Chinese investors that the town of Jupiter supports the project, according to the news provider.

Community Redevelopment Agency Chair and Mayor Karen Golonka added "sometimes you have to think outside the box or nothing happens."