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And I have actually been proud to fulfill them and honored to invite them. Chairman Leahy. As my last question, in some of the statement this morning there has actually been a tip that, of course, just with all the hundreds of billions, trillions of bucks prepared to invest, you ought to just go someplace else.

Stenger. I would certainly inform you that in this environment the capacity to raise funding for the points we are doing would have-- it is difficult to do so in a fashion that would permit us as efficiently and as rapidly create the points we have done. You can borrow cash if you have actually obtained half down.

I could have obtained fifty percent of that if I had the $12 million in cash to place up. Everybody knows that, yes, financial institutions have money to lending as long as you have actually obtained half of it in your pocket prior to you request for the other fifty percent. That is not how company works these days.

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You are talking from a real-world experience, not from a think tank experience. I will leave that merely as a gratuitous remark from the Chairman. Legislator Grassley. Senator Grassley. Thank you. I intend to be accountable in this concern of undocumented workers. I desire to confess that we only have anecdotal details, but I want to ask you to what extent you have to go or do most likely to make sure that the centers make certain that the financial investments do not create tasks for individuals below illegally.

Mr. Stenger. We have actually hired-- as I claimed, at the Peak we had 550 construction workers on our job.

They are made up of 10, 15, 20, 30 staff members. They are profiting straight from the financial investment. I recognize the employees, I understand their family members, and we have actually been able to utilize-- via these last 3 years Our site of terrible economic chaos, we have actually been able to utilize almost every construction employee in our area and the bordering counties.

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this contact form They are invested in the communities, and they are all United state employees. Legislator Grassley. Mr. Stenger.

Mr. North, along the same lines of the question I asked him, has your research shown examples other-- and I just offered one example, so I want to admit that and be accountable concerning it-- index of facilities working with undocumented people? Mr. EB5 Regional Center Program. North.



This is a bad application." There is a quantity of bad applications out there, yet just as soon as that procedure gets before a management law court do we see a lot in the method of information. Now, there was one instance that you discussed, and allow me simply elaborate on that particular a bit.

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

Okay. I am going to ask separate inquiries of each of the three of you, yet it manages this set concern. As I stated in my opening statement, I am concerned about the potential loophole that permits financiers to withdraw their financial investment in local facilities after getting their permit.

Divine, are you conscious of any circumstances in which a financier withdrew the investment and walked away quickly after receiving a permit? And if you are, or if you think it is a problem, do you think that it is a technicality that should be closed? Mr. Divine. I would certainly claim that most of the investors, if you asked them what are their objectives, they would certainly state, "I want to obtain a permit, and I intend to maintain it.

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

Senator, legislator.

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