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And I have actually been pleased to meet them and proud to invite them. Chairman Leahy. As my last inquiry, in some of the statement this morning there has been a pointer that, of program, simply with all the hundreds of billions, trillions of bucks ready to invest, you should simply go someplace else.


Stenger. I would inform you that in this climate the capacity to increase funding for the things we are doing would have-- it is impossible to do so in a fashion that would certainly permit us as effectively and as promptly produce the points we have done. You can borrow cash if you have actually obtained 50 percent down.


I could have obtained half of that if I had the $12 million in cash to put up. Every person knows that, yes, financial institutions have cash to financing 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 exactly how business works nowadays.

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Legislator Grassley. Senator Grassley. I want to confess that we only have anecdotal details, however I would like to ask you to what level you have to go or do go to make certain that the centers make sure that the investments do not create tasks for people below unlawfully.


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


They are made up of 10, 15, 20, 30 employees. They are benefiting straight from the financial investment. I know the workers, I know their households, and we have actually been able to use-- with these last 3 years of terrible financial turmoil, we have actually been able to use virtually every building worker in our area and the bordering regions.

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They are spent in the neighborhoods, and they are all United state workers. Senator Grassley. Mr. Stenger.


Mr. North, along the same lines of the inquiry I asked him, has your study shown examples various other-- and I only gave one instance, so I desire to confess that and be liable regarding it-- of facilities hiring undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a bad application." There is get more info a quantity of bad applications out there, but just when that procedure obtains before an administrative regulation court do we see a lot in the means of information. Currently, there was one instance that you mentioned, and let me just elaborate on that particular a bit.

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Do not take as well long because I want to ask one more pair concerns. Yet proceed and quickly coating. Mr. North. The dairy ranch had claimed 17 employees, and they got involved in it, and the judge located that 16 of them were illegals. Now, that is the one example I have, and it is an example.


Okay. I am mosting likely to ask separate concerns of each of the 3 of you, but it manages this issue. As I said in my opening statement, I am concerned regarding the possible loophole that enables investors to withdraw their financial investment in regional facilities after getting their permit.


Divine, are you familiar with any circumstances in which an investor withdrew the investment and walked away instantly after receiving an environment-friendly card? And if you are, or if you assume it is an issue, do you believe that it is a loophole that should be closed? Mr. Divine. I would claim that a lot of the capitalists, if you inquired what are their goals, they would say, "I desire to get an eco-friendly card, and I wish to keep it.


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


Senator, no.