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And I have been happy to satisfy them and proud to welcome them. Chairman Leahy. Additionally, as my last inquiry, in a few of the testament this morning there has actually been an idea that, naturally, just with all the hundreds of billions, trillions of dollars prepared to invest, you should just go somewhere else.


Stenger. I would certainly inform you that in this environment the ability to elevate capital for things we are doing would certainly have-- it is impossible to do so in a way that would allow us as properly and as swiftly develop the points we have actually done. You can borrow money if you have got half down.


I might have borrowed half of that if I had the $12 million in money to install. Every person knows that, yes, banks have cash to finance as long as you have actually obtained fifty percent of it in your pocket before you request the other fifty percent. That is not exactly how business works nowadays.

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You are speaking from a real-world experience, not from a brain trust experience. I will leave that merely as a gratuitous remark from the Chairman. Senator Grassley. Senator Grassley. Thanks. I intend to be liable in this issue of undocumented workers. I wish to confess that we just have anecdotal information, but I would love to ask you to what extent you need to go or do go to ensure that the centers ensure that the financial investments do not produce tasks for individuals here unlawfully.


Mr. Stenger. We have employed-- as I claimed, at the Optimal we had 550 building and construction workers on our task.


They are made up of 10, 15, 20, 30 workers. They are profiting straight from the financial investment. I recognize the workers, I know their families, and we have been able to use-- with these last 3 years of terrible financial turmoil, we have actually been able to employ practically every building worker in our county and the bordering areas.

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They are invested in the communities, and they are all U.S. workers. Legislator check my source Grassley. Mr. Stenger.


Mr. North, along the same lines of the inquiry I asked him, has your research revealed examples other-- and I just offered one instance, find this so I desire to confess that and be accountable about it-- of centers working with undocumented individuals? Mr. EB5 Regional Center Program. North.




This is a negative application." There is a quantity of negative applications out there, but only when that process gets prior to a management law court do we see a lot in the method of detail. Currently, there was one instance that you stated, and allow me just clarify on that particular a little bit.

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Do not take also long since I intend to ask an additional couple concerns. However go on and promptly surface. Mr. North. The dairy products farm had actually asserted 17 workers, and they entered it, and the court found that 16 of them were illegals. Currently, that is the one instance I have, and it is a fine example.


Okay. I am going to ask different questions of each of the 3 of you, but it takes care of this set issue. As I said in my opening statement, I am worried regarding the possible loophole that allows capitalists to withdraw their financial investment in regional facilities after receiving their permit.


Divine, are you familiar with any type of instances in which a capitalist took out the financial investment and walked away immediately after obtaining a copyright? And if you are, or if you assume it is an issue, do you assume that it is a loophole that should be closed? Mr. Divine. I have a peek at this website would certainly state that many of the investors, if you inquired what are their goals, they would say, "I intend to obtain a permit, and I intend to maintain it.


If I place my money in a resort growth-- Senator Grassley. Can I think then that you are saying that there does not need to be any kind of modifications made because respect? Mr. Divine. I do not assume so. Senator Grassley. Okay. Allow me ask Mr. Stenger, is it common for a capitalist in your experience to withdraw his or her financial investment instantly after obtaining an environment-friendly card? Mr.

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Legislator, no. Our programs require that the capitalist be spent for a minimum of 5 years and be repaid just if business is in a position to do so at the end of that time. We have the advantage of the resources to produce the business, get it running, make it effective, ensure that the work will be produced and preserved, and after that just if the company is successful will certainly there be a leave method for the financier.