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And I have been honored to fulfill them and pleased to invite them. Chairman Leahy. As my last inquiry, in some of the testimony this morning there has been a suggestion that, of program, simply with all the hundreds of billions, trillions of dollars prepared to spend, you ought to simply go somewhere else.


Stenger. I would certainly tell you that in this environment the ability to raise funding for things we are doing would certainly have-- it is impossible to do so in a manner that would permit us as successfully and as quickly produce the important things we have done. You can obtain money if you have got 50 percent down.


I might have borrowed half of that if I had the $12 million in cash money to put up. Everyone understands that, yes, banks have cash to loan as long as you have obtained half of it in your pocket prior to you request the other fifty percent. That is not how organization works these days.

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Senator Grassley. Legislator Grassley. I want to admit that we just have anecdotal details, however 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 produce tasks for people here illegally.


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


They are comprised of 10, 15, 20, 30 employees. They are from our local counties. They are Vermonters. They are benefiting directly from the investment. We are a hands-on facility. I recognize the employees, I understand their family members, and we have been able to use-- via these last 3 years of horrible economic turmoil, we have actually had the ability to employ practically every construction employee in our area and the bordering regions.

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locals. They live in the location. Their households are there. They are invested in the communities, and they are all united state employees. Senator Grassley. You do not need to use e-verify, yet I would love to understand whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Mr. North, along the very same lines of the question I asked him, has your study shown examples various other-- and I only provided one example, so I desire to confess that and be accountable concerning it-- of facilities employing undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." There is a quantity of negative applications out there, yet only when that process gets before an administrative legislation more info court do we see much in the method of information. Now, there was one situation that you discussed, and let me just specify on that a little bit.

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


Okay. I am going to ask different questions of each of the 3 of you, yet it deals with this concern. As I claimed in my opening statement, I am concerned about the potential technicality that permits investors to withdraw their investment in regional centers after receiving their eco-friendly card.


Divine, are you aware of any circumstances in which a capitalist took out the financial investment and left immediately after getting a permit? And if you are, or if you assume it is a problem, do you assume that it is a loophole that should be closed? Mr. Divine. I would certainly state that a lot of the investors, if you inquired what are their goals, they would say, "I wish to get a copyright, and I desire to maintain it.


If I place my cash in a resort advancement-- Legislator Grassley. Can I think then that you are claiming that there does not require to be any kind of adjustments made because respect? Mr. Divine. I do not assume so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for an investor in your experience to withdraw his or her investment quickly after receiving a permit? 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 just if the service remains in a position to do so at the end of that time. So we have the advantage of the resources to produce business, obtain it running, make it effective, guarantee that the tasks will certainly be created and maintained, and then just if the service succeeds will there be a departure method for the capitalist.