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And I have actually been honored to fulfill them and proud to invite them. Chairman Leahy. Likewise, as my last question, in some of the testament this early morning there has been a tip that, naturally, just with all the thousands of billions, trillions of dollars all set to invest, you should simply go somewhere else.

Stenger. I would tell you that in this environment the capability to raise capital for the points we are doing would have-- it is impossible to do so in a way that would enable us as properly and as rapidly develop things we have actually done. You can obtain money if you have obtained 50 percent down.


I could have obtained fifty percent of that if I had the $12 million in money to install. Everybody recognizes that, yes, financial institutions have money to funding as long as you have obtained fifty percent of it in your pocket before you request for the other half. That is not exactly how business functions nowadays.

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Senator Grassley. Legislator Grassley. I desire to admit that we only have anecdotal details, however I would certainly such as to ask you to what extent you have to go or do go to make sure that the facilities make sure that the investments do not produce jobs for people right here unlawfully.


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


They are comprised of 10, 15, 20, 30 employees. They are from our local regions. They are Vermonters. They are profiting straight from the financial investment. So we are a hands-on center. I recognize the employees, I know their family members, and we have actually had the ability to employ-- through these last 3 years of awful financial turmoil, we have had the ability to use virtually every construction employee in our region and the surrounding counties.

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They are spent in the communities, and they are all United state employees. Legislator Grassley. Mr. Stenger.


Thanks. Mr. North, along the exact same lines of the inquiry I asked him, has your study revealed instances various other-- and I just offered one instance, so I wish to admit that and be liable about it-- of facilities hiring undocumented individuals? Mr. North. That kind of information is extremely tough to get from USCIS, and I should state that what we do find out about a lot of the internal features of that agency regarding this program is concerned associates with cases in which the team has actually stated no to an application of some kind and afterwards the local facility or the private business owner has gone to the Administrative Appeals Office-- which is part of the agency-- and there we get papers, we obtain a hearing policeman informing us what is going on in that specific instance.




This is a negative application." There is a quantity of bad applications out there, but only when that process obtains before a management law judge do we see much in the means of detail. Now, there was one situation that you discussed, and allow me simply specify on that particular a little bit.

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Mr - EB5 Regional Center Program. North. The dairy products ranch had actually claimed 17 employees, and they got right into it, and the court located that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the three of you, but it deals with this one concern. As I said read more in my opening declaration, I am worried about the prospective loophole that permits investors to withdraw their financial investment in regional centers after getting their eco-friendly card.


Divine, are you knowledgeable about any kind of instances in which a financier withdrew the financial investment and walked away promptly after getting a permit? And if you are, or if you assume it is an issue, do you think that it is a loophole that should be closed? Mr. Divine. I would certainly say that most of the capitalists, if you asked them what are their objectives, they would claim, "I wish to obtain a copyright, and I intend to maintain it.

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


Senator, legislator.