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And I have been honored to fulfill them and pleased to welcome them. Chairman Leahy. As my last question, in some of the testament this early morning there has actually been a pointer that, of program, just with all the hundreds of billions, trillions of dollars all set to spend, you should simply go somewhere else.


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


I might have obtained half of that if I had the $12 million in cash money to set up. Everyone recognizes that, yes, banks have money to lending as long as you have obtained half of it in your pocket prior to you request for the various other half. That is not exactly how company functions nowadays.

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Legislator Grassley. Legislator Grassley. I want to confess that we just have unscientific info, however I would like to ask you to what level you have to go or do go to make sure that the facilities make sure that the investments do not create tasks for individuals right here unlawfully.


Mr. Stenger. We have actually employed-- as I said, at the Top we had 550 building workers on our project.


They are made up of 10, 15, 20, 30 staff members. They are from our regional counties. They are Vermonters. They are profiting straight from the investment. So we are a hands-on center. I understand the employees, I know their households, and we have actually been able to utilize-- via these last 3 years of dreadful economic chaos, we have been able to employ nearly every construction employee in our region and the bordering regions.

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residents. They live in the area. Their families are there. They are invested in the communities, and they are all united state workers. Senator Grassley. You do not have to make use of e-verify, however I want to recognize whether or not you do. Mr. Stenger. We do. Legislator Grassley. You do.


Mr. North, along the very same lines of the question I asked him, has your research study revealed examples other-- and I only offered one instance, so I desire to admit that and be liable regarding it-- of facilities hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a poor application." There is a quantity of poor applications out there, but only when that procedure gets prior to a management regulation judge do we see much in the method of information. Now, there was one instance that you stated, and let me simply clarify on that a little bit.

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Mr - EB5 Regional Center Program. North. The dairy products ranch click here had declared 17 workers, and they got right into it, and the judge found that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the 3 of you, but it handles this set problem. As I said in my opening statement, I am concerned about the prospective technicality that allows financiers to withdraw their investment in local centers after obtaining their permit.


Mr. Divine. I would certainly state that many of the capitalists, if you asked them what are their objectives, they would state, "I want to get an environment-friendly card, and I desire to maintain it.


If I put my cash in a resort development-- Senator Grassley. Can I presume then that you are claiming that there does not need to be any type of changes made because respect? Mr. Divine. I do not assume so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his/her financial investment instantly after obtaining an environment-friendly card? Mr.

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Senator, no. Our programs need that the investor be invested for a minimum of 5 years and be paid back only if the business remains in a placement to do so at the end of that time. We have the advantage of the capital to produce the organization, obtain it running, make it successful, assure that the work will be created and kept, and then just if the company is effective will certainly there be an exit approach for the capitalist.