A prestigious tall ships event in Cornwall is to be given the go-ahead following a donation of £30,000 of tax payers' money.
Up to 30 vessels will take part in the Funchal 500 Regatta from Falmouth to Madeira in September 2008.
The money has been put forward by Carrick District Council.
The Tall Ships Festival was last hosted in Falmouth in 1998. It attracted about 150,000 people, contributing £24m to the local economy.
The event is organised by the International Sailing Association.