The Of Eb5 Regional Center Program

The Of Eb5 Regional Center Program

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Some Of Eb5 Regional Center Program

And I have actually been happy to meet them and happy to welcome them. Chairman Leahy. Also, as my last concern, in some of the testimony this early morning there has actually been a tip that, obviously, simply with all the numerous billions, trillions of bucks prepared to invest, you must just go somewhere else.


Stenger. I would tell you that in this environment the ability to increase funding for the things we are doing would have-- it is impossible to do so in a way that would permit us as efficiently and as promptly create the points we have done. You can borrow cash if you have obtained half down.


I might have obtained fifty percent of that if I had the $12 million in cash to put up. Everybody understands that, yes, banks have money to lending as long as you have actually obtained half of it in your pocket before you request for the various other fifty percent. That is not exactly how company works nowadays.

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You are talking from a real-world experience, not from a brain trust experience. I will leave that merely as an unjustified remark from the Chairman. Senator Grassley. Senator Grassley. Thank you. I wish to be liable in this problem of undocumented workers. I intend to admit that we just have unscientific details, however I would such as to ask you to what level you have to go or do go to make certain that the facilities make certain that the financial investments do not produce work for people right here illegally.


Mr. Stenger. We have hired-- as I said, at the Peak we had 550 building workers on our task.


They are made up of 10, 15, 20, 30 workers. They are profiting straight from the investment. I understand the employees, I recognize their families, and we have actually been able to employ-- with these last 3 years of terrible financial chaos, we have been able to employ nearly every construction worker in our region and the bordering areas.

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They are invested in the areas, and they are all U.S. employees. Legislator Grassley. Mr. Stenger.


Thanks. Mr. North, along the same lines of the concern I asked him, has your research study revealed examples various other-- and I just provided one instance, so I desire to admit that and be accountable about it-- of centers employing undocumented people? Mr. North. That sort of data is very tough to get from USCIS, and I have here to state that what we do recognize about most of the inner features of that agency as much as this program is worried connects to instances in which the staff has said no to an application of some kind and after that the regional center or the private entrepreneur has actually gone to the Administrative Appeals Workplace-- which belongs to the agency-- and there we get papers, we obtain a hearing police officer informing us what is going on in that particular instance.




This is a negative application." There is a quantity of bad applications out there, yet just when that process obtains prior to a management legislation judge do we see a lot in the means of information. Now, there was one case that you mentioned, and let me look at here now simply specify on that particular a little bit.

The Of Eb5 Regional Center Program

Mr - EB5 Regional Center Program. North. The dairy farm had declared 17 employees, and they got right into it, and the judge located that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the three of you, but it takes care of this one issue. As I stated in my opening statement, I am concerned regarding the potential technicality that blog permits financiers to withdraw their investment in regional facilities after obtaining their permit.


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


Mr. Divine. Let me ask Mr. Stenger, is it common for an investor in your experience to withdraw his or her investment promptly after getting an eco-friendly card? Mr.


Senator, no.

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