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And I have actually been proud to meet them and proud to invite them. Chairman Leahy. As my last question, in some of the statement this early morning there has actually been a tip that, of program, just with all the hundreds of billions, trillions of dollars ready to spend, you must simply go somewhere else.


EB5 Regional Center ProgramEB5 Regional Center Program
Stenger. I would tell you that in this climate the ability to raise resources for the things we are doing would have-- it is difficult to do so in a way that would permit us as properly and as quickly develop the points we have actually done. You can borrow cash if you have actually obtained 50 percent down.


I could have borrowed half of that if I had the $12 million in money to set up. Everyone understands that, yes, financial institutions have money to financing as long as you have got fifty percent of it in your pocket before you ask for the other half. That is not how service works these days.


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Senator Grassley. Legislator Grassley. I desire to confess that we only have anecdotal details, but I would certainly such as to ask you to what degree you have to go or do go to make certain that the centers make certain that the investments do not produce jobs for individuals here illegally.


Mr. Stenger. We have worked with-- as I claimed, at the Top we had 550 construction employees on our task.


They are made up of 10, 15, 20, 30 staff members. They are benefiting directly from the investment. I understand the workers, I recognize their households, and we have been able to employ-- through these last 3 years of terrible economic chaos, we have actually been able to employ almost every building and construction employee in our area and the surrounding areas.


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homeowners. They stay in the location. Their families exist. They are purchased the neighborhoods, and they are all U.S. employees. Legislator Grassley. You do not have to use e-verify, but I want to know whether or not you do. Mr. Stenger. We do. Senator Grassley. You do.


Thanks. Mr. North, along the same lines of the concern I asked him, has your research study shown instances various other-- and I just offered one instance, so I wish to confess that and be liable concerning it-- of centers working with undocumented people? Mr. North. That kind of information is really difficult to obtain from USCIS, and I have to claim that what we do learn about much of the interior things concerning that firm as much as this program is concerned connects to instances in which the personnel has actually stated no to an application of some kind and after that the regional facility or the specific business owner has gone to the Administrative Appeals Office-- which becomes part of the agency-- and there we get papers, we obtain a hearing policeman informing us what is taking place because particular case.




This is a bad application." There is an amount of bad applications out there, but just once that procedure gets prior to a management legislation court do we see much in the way of detail. Currently, there was one instance that you discussed, and let me simply specify on that particular a bit.


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EB5 Regional Center ProgramEB5 Regional Center Program


Do not take as well long due to the fact that I want to ask another couple inquiries. Yet go ahead and swiftly surface. Mr. North. The milk farm had declared 17 employees, and they got right into it, and the judge found that 16 of them were illegals. Now, that is the one instance I have, and it is an example.


Okay. I am mosting likely to ask different inquiries of each of the 3 of you, however it takes care of this one concern. As I said in my opening declaration, I am concerned concerning the prospective loophole that enables financiers to withdraw their financial investment in regional facilities after receiving their permit.


Divine, are you knowledgeable about any instances in which a capitalist withdrew the financial investment and strolled away quickly after receiving an eco-friendly card? And if you are, or if you assume it is a problem, do you assume that it is a technicality that should be shut? Mr. Divine. I would claim that a lot of the financiers, if you asked what are their goals, they would say, "I intend to get a permit, and I want to keep get more info it.


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Mr. Divine. Let me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his or her financial investment quickly after getting a copyright? Mr.


Senator, legislator.

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