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And I have been honored to fulfill them and happy to invite them. Chairman Leahy. Also, as my last concern, in a few of the testament this morning there has been a suggestion that, naturally, just with all the hundreds of billions, trillions of bucks all set to spend, you should just go someplace else.


EB5 Regional Center ProgramEB5 Regional Center Program
Stenger. I would inform you that in this environment the capacity to increase capital for the important things we are doing would certainly have-- it is impossible to do so in a manner that would enable us as efficiently and as rapidly create the things we have done. You can borrow cash if you have obtained half down.


I could have obtained fifty percent of that if I had the $12 million in money to set up. Everyone knows that, yes, financial institutions have cash to financing as long as you have obtained fifty percent of it in your pocket before you request for the other half. That is not just how service works nowadays.


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Legislator Grassley. Legislator Grassley. I want to confess that we only have unscientific details, yet I would certainly 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 below illegally.


Mr. Stenger. We have actually employed-- as I stated, at the Optimal we had 550 construction employees on our project.


They are made up of 10, 15, 20, 30 employees. They are profiting straight from the financial investment. I understand the employees, I understand their family members, and we have been able to employ-- with these last 3 years of horrible financial chaos, we have actually been able to utilize practically every construction worker in our region and the surrounding counties.


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homeowners. They reside in the location. Their households are there. They are purchased the communities, and they are all united state click here workers. Senator Grassley. You do not need to utilize e-verify, yet I want to recognize whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thank you. Mr. North, along the same lines of the question I asked him, has your research study revealed examples other-- and I just provided one instance, so I wish to admit that and be liable about it-- of centers employing undocumented people? Mr. North. That sort of data is extremely difficult to get from USCIS, and I have to say that what we do learn about several of the inner aspects of that company as much as this program is worried connects to situations in which the team has said no to an application of some kind and then the local facility or the individual entrepreneur has mosted likely to the Administrative Appeals Workplace-- which becomes part of the agency-- and there we get papers, we obtain a hearing officer informing us what is taking place because particular case.




This is a poor application." There is an amount of negative applications out there, but only once that process gets before an administrative regulation judge do we see much in the means of detail. Currently, there was one situation that you pointed out, and let me just specify on that particular a bit.


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EB5 Regional Center ProgramEB5 Regional Center Program


Do not take also long since I intend to ask an additional couple questions. Go ahead and swiftly coating. Mr. North. The dairy products farm had asserted 17 employees, and they entered it, and the judge discovered that 16 of them were illegals. Now, that is the one instance I have, and it is a good instance.


Okay. I am mosting likely to ask different inquiries of each of the 3 of you, but it deals with this concern. As I claimed in my opening statement, I am worried concerning the potential loophole that enables investors to withdraw their investment in regional facilities after receiving their permit.


Mr. Divine. I would claim that most of the investors, if you asked them what are their objectives, they would claim, "I want to obtain an eco-friendly card, and I desire to maintain it.


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Mr. Divine. Allow me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his or her investment instantly after obtaining an environment-friendly card? Mr.


Senator, legislator.

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