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And I have actually been pleased to satisfy them and happy to invite them. Chairman Leahy. Additionally, as my last inquiry, in a few of the testament today there has been an idea that, obviously, just with all the numerous billions, trillions of dollars prepared to invest, you must simply go elsewhere.


Stenger. I would certainly inform you that in this environment the ability to raise funding for the important things we are doing would certainly have-- it is difficult to do so in a fashion that would permit us as effectively and as swiftly develop things we have done. You can obtain cash if you have actually obtained 50 percent down.


I might have obtained fifty percent of that if I had the $12 million in cash money to install. Everybody understands that, yes, banks have cash to lending as long as you have got half of it in your pocket prior to you request the other half. That is not how company functions nowadays.

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Legislator Grassley. Senator Grassley. I want to confess that we only have unscientific information, but I would like to ask you to what level you have to go or do go to make sure that the centers make certain that the financial investments do not develop jobs for people here unlawfully.


Mr. Stenger. Legislator, I am a hands-on proprietor of a service, and I am on-property every day. We have worked with-- as I stated, at the Peak we had 550 building and construction employees on our task. The marching orders that I provided to my team is that we are to employ local firms in virtually every instance to do every one of the building.


They are made up of 10, 15, 20, 30 employees. They are benefiting directly from the financial investment. I know the workers, I know their family members, and we have been able to utilize-- via these last 3 years of terrible economic turmoil, we have been able to utilize nearly every building and construction employee in our region and the bordering regions.

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citizens. They stay in the area. Their households exist. They are spent in the areas, and they are all U.S. workers. Senator Grassley. You do not need to make use of e-verify, but I would love to understand whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the very same lines of the concern I asked him, has your study shown instances other-- and I only gave one example, so I want to admit that and be liable regarding it-- of facilities hiring undocumented people? Mr. EB5 Regional Center Program. North.




This is a poor application." There is an amount of bad applications out there, but just as soon as that process gets prior to a management law judge do we see a lot in the means of detail. Now, there was one situation that you pointed out, and allow me just clarify on that particular a little bit.

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


Okay. I am mosting likely to ask separate questions of each of the 3 of you, but it handles this one problem. As I said in my opening declaration, I am worried about the possible technicality that permits investors to withdraw their investment in local centers after receiving their eco-friendly card.


Divine, are you knowledgeable about any kind of circumstances in which a capitalist took out the financial investment and walked away promptly after receiving a permit? And if you are, or if you believe it is a problem, do you assume that it is a loophole that should be closed? Mr. Divine. I would claim that the majority of the capitalists, if you asked them what are their goals, they would certainly claim, "I want to get a permit, and I intend to keep it.


If I put my cash in a hotel development-- Senator Grassley. Can I think then that you are claiming that there does not require to be any changes made in that regard? Mr. Divine. I do not think so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a financier in your experience to withdraw his/her investment promptly after getting an environment-friendly card? Mr.

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Senator, no. Our programs need that the financier be spent for a minimum of 5 years and be paid back just if business is in a position to do so at the end of that time. We have the advantage of the funding to create the organization, get it running, make it effective, ensure that the work will be created more info and preserved, and then just if the business is effective will there be a departure technique for the capitalist.