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And I have actually been happy to meet them and pleased to welcome them. Chairman Leahy. Also, as my last concern, in a few of the statement this morning there has been a recommendation that, naturally, just with all the thousands of billions, trillions of bucks ready to invest, you ought to just go elsewhere.


Stenger. I would certainly inform you that in this environment the capability to raise capital for things we are doing would certainly have-- it is impossible to do so in a fashion that would certainly enable us as effectively and as rapidly produce the points we have done. You can borrow money if you have actually obtained half down.


I can have borrowed half of that if I had the $12 million in cash to set up. Every person recognizes that, yes, financial institutions have cash to car loan as long as you have actually obtained half of it in your pocket prior to you request for the other half. That is not exactly how business functions nowadays.

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Senator Grassley. Senator Grassley. I want to admit that we only have anecdotal info, but I would 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 financial investments do not create jobs for individuals here illegally.


Mr. Stenger. We have actually employed-- as I stated, at the Top we had 550 construction workers on our job.


They are composed of 10, 15, 20, 30 employees. They are from our local regions. They are Vermonters. They are profiting directly from the investment. So we are a hands-on facility. I recognize the employees, I understand their family members, and we have actually been able to utilize-- through these last 3 years of horrible economic chaos, we have had the ability to use virtually every building worker in our region and the surrounding areas.

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citizens. They stay in the area. Their family members exist. They are spent in the communities, and they are all united state employees. Legislator Grassley. You do not need to make use of e-verify, but I wish to know whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thanks. Mr. North, along the exact same lines of the inquiry I asked him, has your research revealed examples various other-- and I only gave one instance, so I intend to admit that and be responsible about it-- of centers employing undocumented people? Mr. North. That type of information is very difficult to acquire from USCIS, and I should state that what we do understand around most of the inner aspects of that agency as much as this program is worried connects to cases in which the personnel has claimed no to an application of some kind and after that the local center or the specific entrepreneur has gone to the Administrative Appeals Office-- which becomes part of the firm-- and there we obtain files, we get a hearing policeman telling us what is going on in that particular instance.




This is a poor application." So there is a quantity of negative applications available, however only when that process obtains prior to a management regulation judge do we see much in the way of detail. Now, there was one case that you discussed, and allow me just clarify on that a little.

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Mr - EB5 Regional Center Program. North. The dairy products farm had claimed 17 workers, and they obtained into it, and the court located that 16 of them were illegals.


Okay. I am mosting likely to ask different questions of each of the 3 of you, yet it manages this set concern. As I said in my opening statement, I am worried regarding the prospective technicality that permits get more info financiers to withdraw their investment in local centers after getting their environment-friendly card.


Mr. Divine. I would certainly say that many of the capitalists, if you asked them what are their objectives, they would certainly claim, "I want to obtain an environment-friendly card, and I desire to keep it.


If I place my money in a hotel development-- Legislator Grassley. Can I think then that you are stating that there does not require to be any kind of changes made in that regard? Mr. Divine. I do not assume so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her financial investment right away after obtaining an environment-friendly card? Mr.

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Senator, no. Our programs call for that the financier be invested for a minimum of 5 years and be repaid only if business remains in a position to do so at the end of that time. We have the advantage of the resources to create the business, obtain it running, make it effective, assure that the tasks will certainly be created and preserved, and then just if the company is successful will there be a departure method for the capitalist.