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And I have been pleased to meet them and happy to invite them. Chairman Leahy. Also, as my last concern, in several of the testimony today there has actually been a recommendation that, of training course, just with all the numerous billions, trillions of bucks ready to invest, you must just go elsewhere.


Stenger. I would tell you that in this environment the capacity to raise resources for things we are doing would have-- it is difficult to do so in a fashion that would certainly enable us as properly and as promptly develop the important things we have actually done. You can obtain cash if you have got half down.


I can have obtained fifty percent of that if I had the $12 million in cash to install. Every person recognizes that, yes, financial institutions have money to car loan as long as you have obtained half of it in your pocket before you request for the other half. That is not just how service works nowadays.

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You are talking from a real-world experience, not from a think tank experience. I will leave that merely as an unjustified comment from the Chairman. Senator Grassley. Senator Grassley. Thanks. I wish to be accountable in this issue of undocumented workers. I want to confess that we only have unscientific details, but I would certainly such as to ask you to what degree you need to go or do go to make certain that the centers make certain that the investments do not develop jobs for people right here illegally.


Mr. Stenger. Senator, I am a hands-on proprietor of a business, and I am on-property every day. We have actually employed-- as I stated, at the Top we had 550 building and construction workers on our job. The marching orders that I offered to my team is that we are to employ local firms in nearly every circumstances to do all of the building and construction.


They are composed 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 understand the employees, I understand their households, and we have actually been able to use-- via these last 3 years of terrible economic chaos, we have actually had the ability to employ practically every building and construction employee in our county and the bordering counties.

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homeowners. They live in the location. Their households exist. They are bought the neighborhoods, and they are all U.S. employees. Legislator Grassley. You do not have to utilize e-verify, yet I would love to know whether you do. Mr. Stenger. We do. Legislator Grassley. You do.


Thanks. Mr. North, along the very same lines of the inquiry I asked him, has your research revealed examples other-- and I just provided one example, so I intend to admit that and be liable regarding it-- of centers employing undocumented people? Mr. North. That type of information is extremely hard to acquire from USCIS, and I need to state that what we do recognize about much of the internal features of that agency as for this program is worried associates with situations in which the personnel has stated no to an application of some kind and afterwards the regional facility or the individual business owner has actually gone to the Administrative Appeals Office-- which belongs to the company-- and there we obtain documents, we get a hearing policeman telling us what is taking place because certain case.




This is a poor application." So there is an amount of negative applications around, yet just once that procedure obtains before an administrative law court do we see much in the means of information. Now, there was one instance that you stated, and let me simply specify on that particular a little bit.

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Mr - EB5 Regional Center Program. North. The milk farm had claimed 17 employees, and they obtained right into it, and the court located that 16 of them were illegals.


Okay. I am going to ask separate inquiries of each of the three of you, yet it deals with this set concern. As I said in my opening statement, I am worried regarding the possible loophole that enables capitalists to withdraw their financial investment in local facilities after getting their environment-friendly card.


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


If I put my money in a resort development-- Senator Grassley. Can I presume then that you are stating that there does not require to be any changes made because regard? Mr. Divine. I do not believe so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it typical for a capitalist in your experience to withdraw his or her financial investment instantly after getting an environment-friendly card? Mr.

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Senator, no. Our programs need that the investor be spent for a minimum of 5 years and be paid back only if the business is in a position to do so at the end of that time. So we have the advantage of the capital to produce business, get it running, make it successful, guarantee that the tasks will be developed and preserved, and after that only if business achieves success will there be an exit method for the investor.